Old car brands appear in a new package to compete in a Tesla-based world.

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Poof – and a large car company appears. It is called a secret

Stellantis,

and is the result of

Fiat Chrysler‘s

united with Peugeot. Stellantis, by marriage, is one of the once-strong Detroit Three auto makers, with

General motors

and

Motor Motor.

A lot has changed since the D-3 ruled. Chrysler merged, demerged, reunited. General Motors went bankrupt in a financial crisis. Today, the start of an electric vehicle

Tesla

is the most valuable auto maker in the world. Tesla has been around for 17 years, but compared to the D-3, it’s a puppy. Tesla shipped about 500,000 vehicles in 2020, eight million Stellantis, making it the third or fourth largest automaker on the planet. Books fell for most carmakers in 2020 – but not for Tesla.

However, the stock looks promising.

JP Morgan‘s

Jose Asumendi started covering Stellantis last week with a Buy price target and 18 euros ($ 21.90). That’s a 35% profit margin over the current $ 16.15. He believes the two legacy companies are merging. Fiat lost money in Europe; Peugeot will help with that. Peugeot was not a big player in North America; Tha Chrysler. It says the largest entity can cut costs and streamline capital expenditures, ultimately delivering annual savings of more than € 5 billion.

About 70% of analysts cover the stock rate it buys. The average purchase ratio for Dow Jones industrial stock is 57%. Stellantis is down 11%, year to date, compared to GM, up 33%, and Ford, up 31%. Investors are beginning to place higher value on the autonomous and EV investments of these companies. With the merger closed, Stellantis should start talking about its EV plans.

Last week

Highs Inauguration

U.S. markets were closed for Martin Luther King’s birthday, but stocks rose worldwide. With earnings soaring, U.S. indices hit new heights with the (peacefully) introduction of the new president. The rally was fueled by hopes for a jumbo relief measure and by large numbers from

Netflix.

The Dow and S&P 500 slipped on Friday, with pressure on old technology:

IBM

and

Intel.

Last week, the Dow trades rose 0.6%, to 30,996.98; the S&P 500 rose 1.9%, to 3841.47; and the Nasdaq Composite gained 4.2%, to 13,543.06.

Transitions

Former President Trump left the White House and flew to Mar-a-Lago, the first outgoing president to refuse to welcome his successor in 150 years. Security in Washington, DC, was tight when President Biden was inaugurated, speaking of unity and civility. Law enforcement officers continued to gather suspects involved in the Capitol riot. There have been few threats, however, that have arisen against the main states of the state or Washington, DC

Biden: First move

Biden signed a stack of action group

orders on Day One, and continued to be signed, targeting dozens of Trump’s policies: killing a Muslim ban, going back to the Paris climate treaty and the World Health Organization, dismantling the Keystone XL pipeline, and trying to reunite children who are separated at the border. He also outlined major initiatives – further relief from Covid, measures to stimulate the economy, and immigration reform – and released Dr. Anthony Fauci.

Forgiveness and impeachments

Trump signed 143 amnesty and mutual appreciation before his release, including for former councilor Steve Bannon, GOP donor Elliott Broidy, singer Lil Wayne, convicted Republican officials, and some other. Not on the list were his children, anyone involved in the Capitol riot, lawyer Rudolph Giuliani, or himself. In Congress, GOP CEO Mitch McConnell said Trump had sparked the Capitol unrest, and the House said it would send an impeachment article to the Senate Monday.

100-day vaccination goal

Biden has set a target of 100 million vaccines in the first 100 days. The head of the World Health Organization has warned of a “catastrophic moral failure” as poor countries struggle to get vaccinated. Meanwhile, the U.S. death tax broke 400,000, and some workers filed 900,000 for unemployment.

Navalny returns to prison

Russian dissident Alexei Navalny was arrested when he and his German wife went to Russia after recovering from a poisoned assassination attempt. The arrest prompted international demands for his release and Navalny urged supporters to take to the streets.

Biography about making contracts

Manufacturer of optical components

Lumentum Occupancy

agreed to buy laser manufacturer Consistent for $ 5.7 billion yen. Mytheresa Group, the Munich-based luxury e-commerce company that was a subsidiary of Neiman Marcus, went public, valued at $ 2.2 billion. Mytheresa had been embroiled in controversy over a creditor after Neiman’s disappointment and bankruptcy.

Write to Al Root at [email protected]