Wall Street Breakfast Tavares exits as Stellantis sales slump
Dec 2, 2024
Carlos Tavares, CEO of Stellantis, steps down as the company grapples with declining sales in the U.S. Fidelity boosts its valuation of Elon Musk's X by 32%, sparking discussions about investor confidence in the tech sector. BlackRock is eyeing a major acquisition of HPS Investment Partners for over $12 billion. The podcast also delves into the implications of these shifts in leadership and market dynamics, while highlighting key market trends and potential retail stock perform during the upcoming holiday season.
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Stellantis CEO Resigns
- Stellantis CEO, Carlos Tavares, resigns amid declining profits and U.S. sales.
- The unexpected departure follows disagreements with the board and a lowered profit forecast.
Fidelity Marks Up X
- Fidelity increased its valuation of X (formerly Twitter) by 32%, now valuing it at $44 billion.
- This still represents a 72% discount from Elon Musk's purchase price in 2022.
BlackRock to Acquire HPS
- BlackRock is nearing a deal to acquire HPS Investment Partners for at least $12 billion.
- The deal, potentially announced this week, involves cash and stock payment.