Jun 1, 2017

Tesla is becoming the talk of the town

Mark Schiefelbein / AP

"Investors pick Tesla's promise over GM's steady profits," by AP's Tom Krisher and Dee-Ann Durbin, in Detroit:

  • GM's stock is trading around the $33 price of its initial public offering seven years ago. During that time, Tesla shares have soared more than tenfold to $335.
  • Wall Street now values Tesla at about $55 billion, compared to around $50 billion for GM.
  • Despite efforts to paint themselves as technology companies, automakers can't shake their giant, capital-intensive global manufacturing operations. The huge investment needed to build vehicles yields low profit margins compared with tech companies that make software or cell phones.
  • Why it matters: The big changes in the auto industry are in the early stages. Electric vehicles make up less than 1% of global auto sales, and fully self-driving cars are years away.

Go deeper

Warren sees bump in national poll following Nevada debate

Photo by David Becker/Getty Images.

Sen. Elizabeth Warren surged to 19% and second place in a CBS News/YouGov national poll released Sunday, trailing front-runner Sen. Bernie Sanders (28%) but edging out Joe Biden (17%) and Michael Bloomberg (13%).

Why it matters: The poll notes that only 42% of Democratic primary voters have made up their minds. While Warren underperformed in the first three states, her strong debate performance in Nevada last week may have given her campaign new life.

Pence aide says intel report of Russia helping Trump is "false information"

Marc Short. Screenshot: Fox News

Marc Short, chief of staff to Vice President Mike Pence, claimed on "Fox News Sunday" that the White House has not received intelligence that Russia is seeking to help President Trump win re-election, calling it "false information" that has been selectively leaked by Democrats on the House Intelligence Committee.

The big picture: Short and national security adviser Robert O'Brien both dismissed reports published in the Washington Post and New York Times last week about a briefing provided by top election security official Shelby Pierson, an aide to outgoing acting director of national intelligence Joseph Maguire.

Bernie's juggernaut

Sen. Bernie Sanders speaks in San Antonio last night with his wife, Jane. Photo: Eric Gay/AP

Sen. Bernie Sanders won so big in the Nevada caucuses that Democrats are hard-pressed to sketch a way he's not their nominee.

Driving the news: With 60% of precincts counted (slow, but better than Iowa!), Sanders is running away with 46% of delegates — crushing Joe Biden's 20%, Pete Buttigieg's 15%, Sen. Elizabeth Warren's 10% and Sen. Amy Klobuchar's 5%.