Trending tickers: Tesla, BP, Trump Media, Porsche and TSMC

The latest investor updates on stocks that are trending on Friday

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Elon Musk, CEO of Tesla, unveiled the electric vehicle (EV) maker's driverless robotaxi at an event in Los Angeles on Thursday evening.

“We’ll move from supervised full self-driving, to unsupervised full self-driving,” Musk said.

Musk said he expected the robotaxi — dubbed "Cybercab" — to cost less than $30,000 (£29,949) when it arrives in 2026. The Cybercab will charge up via wireless induction technology, possibly using mats or tracks on roads.

Tesla also made a surprise reveal at the event, unveiling a larger autonomous Robovan. Musk said that this bigger EV is designed to transport up to 20 people, or a large amount of cargo, though no date of service or pricing was given.

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Musk also showed off Tesla's Optimus personal assistant robots, which he said would likely cost between $20,000 and $30,000 when they eventually go on sale.

Matt Britzman, senior equity research analyst at Hargreaves Lansdown, said: "It was interesting to hear Elon finally put a time stamp on unsupervised full self-driving as close as 2025 (in regions where regulators allow it).

"But we know Elon’s timeframes require a pinch of salt, and there’s still no real detail on the pathway to regulatory approval. If the autonomous element can be nailed down, which is still a decent sized if, Tesla in on a path to unlocking its full potential."

Tesla shares were flat in pre-market trading on Friday morning.

Shares in BP were also muted on Friday morning, after the oil major warned that it expected net debt to be higher in the third quarter.

BP said in a trading update released on Friday that the anticipated increase in net debt would be "driven primarily by the impact of weaker realized refining margins and by the rephasing of around $1bn of divestment proceeds into the fourth quarter".

The oil company said it expected weaker realised refining margins to be in the range of $400m to $600m.

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BP said it also foresaw production in its oil, gas and low carbon energy segments to be broadly flat in the third quarter.

At the beginning of the week, Shell (SHEL.L) also warned that it expected third-quarter refining profit margins to be much lower than the previous quarter.

Oil prices have been on the rise more recently amid escalating conflict in the Middle East and concerns around the impact of hurricanes on supply in the US. However, the US Energy Information Administration said on Tuesday that it expected "oil demand growth will be lower next year than we had previously forecast".

Shares in Trump Media surged this week, up 49% over the past five days, though are still trading much lower than where it stood after shares debuted on the Nasdaq (^IXIC) in March.

Donald Trump's media company announced the release of its Truth+ streaming app for Android devices on Thursday.

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Trump Media shares have also been on the rise as as investors assess Democratic nominee Kamala Harris's recent media appearances, along with a surprise cameo by Elon Musk at Donald Trump's rally in Butler, Pennsylvania, last weekend. It was at the same location where the former president survived an assassination attempt in July.

The race between former president Trump and current vice president Harris remains tight in the run up to the presidential election on 5 November.

Sports car maker Porsche AG said on Friday that deliveries in China had fallen by 29% to 43,280 in the first nine months of this year, compared with the same period in 2023.

The car brand said deliveries were also down 5% in North America, to 61,471. These falls contributed to a 7% decline worldwide, at 226,026 deliveries from January to September.

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Detlev von Platen, member of the executive board for sales and marketing at Porsche, said: “The market environment remains challenging worldwide. However, with the youngest model range in the company's history and a sales structure that remains very balanced in the sales regions, we are in a robust position."

Preferred shares in Porsche AG (P911.DE) are listed on Germany's Frankfurt Stock Exchange in 2022, with the company still owned by the Volkswagen Group (VOW3.DE). However, holding company Porsche SE has a controlling stake in Volkswagen, with shares little changed on Friday morning.

Shares in Taiwan Semiconductor Manufacturing Company (TSMC) continued to climb on Friday, closing Friday's session 2.5% higher.

The company reported quarterly revenues on Wednesday that beat forecasts.

Reuters reported that the revenue in the July-September period for 2024 came in at T$759.69bn ($23.62bn), commpared to an LSEG SmartEstimate of T$750.36bn.

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TSMC is set to release its full results for the third quarter on Thursday 17 October.

The company is the world's largest contract chipmaker and considered to be another beneficiary of the artificial intelligence boom.

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