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Tesla (TSLA) shows off Cybercab, robovan prototype and next-gen Optimus humanoid robot. (00:24) Triumph Group (TGI) jumps after report it’s exploring a sale. (02:01) Disney (DIS), Comcast (CMCSA), and SeaWorld (PRKS) to reopen Florida theme parks after Hurricane Milton landfall. (02:32)
This is an abridged transcript of the podcast.
Tesla (NASDAQ:TSLA) held its highly anticipated “We, Robot” event on Thursday night at a Warner Bros. studio in Burbank, California.
Elon Musk rode a two-seat Cybercab prototype around the movie studio to start off the festivities. Notably, the Cybercab had no steering wheel or pedals. Its two doors opened upward like butterfly wings.
He laid out the case for robotaxis in general, including the improved safety level and lower operating cost on a per-mile basis. He described a world where a current Uber (UBER) or Lyft (LYFT) driver could actually manage a fleet of autonomous vehicles.
Musk said he expects to start full unsupervised autonomous driving in Texas and California in 2025 for the Model 3 and Model Y. Almost tongue in cheek, he said Cybercab production is anticipated to begin in 2026 and cost less than $30,000.
The next big reveal at the event was an autonomous robovan prototype that is expected to be able to transport up to 20 people or a sizable number of goods.
The next version of the Optimus humanoid robot was also shown off. At scale, an Optimus robot will cost between $25,000 and $30,000. He said Optimus could be Tesla’s (TSLA) most important product ever because nearly everyone will want it to help with household or business tasks.
Tesla (TSLA) is down 5.6% premarket.
Triumph Group (NYSE:TGI) soared 21% after a report that the aircraft components maker is exploring its options, including a potential sale.
Triumph (TGI) is working with an adviser to solicit interest from strategic and private equity shops, according to a Bloomberg report on Thursday, which cited people familiar with the matter.
Deliberations are at an early stage and Triumph (TGI) may decide not to sell itself, according to the report. Triumph has a market value of $900 million.
Disney (NYSE:DIS), Comcast (NASDAQ:CMCSA), and SeaWorld (NYSE:PRKS) expect to reopen their theme parks in Florida today following the aftermath of Hurricane Milton.
Disney (DIS), in a post on X, said the Walt Disney World parks “will resume normal operations” today.
Comcast (CMCSA) CEO Brian Roberts, speaking at the Bloomberg Screentime event, said Universal Orlando theme parks will also reopen today.
SeaWorld (PRKS) will reopen its Orlando parks including SeaWorld, Aquatica and Discovery Cove but said its Spooktacular and Howl-O-Scream events will be canceled. The park situation in the Tampa area is a different story.
A note on the United Parks website says Busch Gardens Tampa and Adventure Island will remain closed today.
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Catalyst watch:
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Notable companies due to report include JPMorgan Chase (JPM), Wells Fargo (WFC), and Blackrock (BLK), BNY Mellon (BK), Fastenal (FAST).
Now let’s take a look at the markets as of 6 am. Ahead of the opening bell today, Dow, S&P and Nasdaq futures are in the red. Crude oil is down 0.8% at $75/barrel. Bitcoin is flat at $60,000.
In the world markets, the FTSE 100 is down 0.2% and the DAX is flat. The market in Hong Kong was closed for a holiday.
The biggest movers for the day premarket: Celsius Holdings (CELH) shares rose nearly 3% after Stifel highlighted positive takeaways from the National Association of Convenience Stores trade show.
On today’s economic calendar:
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8:30 am PPI
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10:00 am Consumer Sentiment
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10:45 am Dallas Federal Reserve Bank President Lorie Logan participates in a panel before the Federal Home Loan Bank of Dallas Women in Financial Services Conference.
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1:10 pm Federal Reserve Board Governor Michelle Bowman gives the keynote before the 18th Annual Community Bankers Symposium, “Community Banking: Navigating a Change Landscape” hosted by the Federal Reserve Bank of Chicago.
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