Why you should fill up on gas on Monday mornings (and never on Friday afternoons) - USA TODAY

Nathan Bomey USA TODAY

Published 4:00 AM EDT Apr 9, 2019

Want to save money at the pump? Fill up on Monday morning on your way to work.

That's the advice of GasBuddy, the fuel-savings app that tracks real-time data from more than 150,000 gas stations throughout the country.

In a study provided exclusively to USA TODAY, GasBuddy assessed the best day to fill up and the worst day to fill up nationwide and in each state. 

While Monday is the best day on average nationwide to fill up, Friday is the worst day. (Scroll down to see state-by-state details on the best and worst time to get fuel.)

"Very early in the week, when gas stations are generally a little bit quieter traffic-wise, is a great time to fill up," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "We generally see more volatility and higher prices later in the week."

On Mondays, some prices tick upward in the afternoon, so it's often a good idea to fill up in the morning. On Fridays, prices often spike in part because some stations are seeking to make more money ahead of weekend trips.

Stations are busiest on Friday afternoons around 5 p.m., according to GasBuddy.

Drivers who fill up exclusively on Friday could save $20 to $30 more year by switching to Monday, according to GasBuddy.

There are exceptions. For example, Tuesday is the best day to fill up in 19 states. 

Living in Utah? The best day is Sunday. Hawaii? Try Wednesday.

While the national average price of gas peaks on Fridays, Saturday is the worst day to fill up in 16 states, while Sunday is the worst day in 12.

The best day to buy gas, by state:

Monday: Alaska, Arizona, California, Colorado, Connecticut, District of Columbia, Florida, Idaho, Illinois, Indiana, Kentucky, Maine, Michigan, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Oregon, Rhode Island, South Carolina, South Dakota, Vermont, Virginia, Washington, West Virginia, Wyoming

Tuesday: Alabama, Arkansas, Delaware, Georgia, Iowa, Kansas, Louisiana, Maryland, Minnesota, Mississippi, Missouri, Nebraska, North Carolina, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas, Wisconsin

Wednesday: Hawaii

Sunday: Utah

The worst day to buy gas, by state

Saturday: Alabama, Connecticut, Hawaii, Kansas, Maine, Maryland, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, Oregon, South Carolina, South Dakota

Sunday: Arkansas, California, Colorado, Delaware, Georgia, Iowa, Oklahoma, Rhode Island, Tennessee, Texas, Virginia, Wisconsin

Friday: District of Columbia, Kentucky, Louisiana, Minnesota, North Carolina, North Dakota, Pennsylvania, Vermont, Washington

Thursday: Arizona, Florida, Idaho, Illinois, Indiana, Michigan, Ohio, West Virginia

Wednesday: Alaska, Nevada, New York, Wyoming

Tuesday: Utah

Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.

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https://www.usatoday.com/story/money/2019/04/09/gas-prices-gasbuddy-best-day-to-fill-up/3399198002/

2019-04-09 08:00:00Z
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Fiat Chrysler will pay Tesla to dodge billions in emissions fines - The Verge

Fiat Chrysler Automobiles (FCA) has struck a deal with Tesla to count the Silicon Valley automaker’s cars as part of its fleet in the European Union, lowering FCA’s average emissions output ahead of strict new EU regulations coming in 2021. Tesla will make “hundreds of millions of euros” from the sale of these emissions credits, according to the Financial Times.

The scheme resembles the way regulatory credits can be bought and sold in the United States, which has been a steady (if relatively small) business for Tesla for many years. The electric automaker made $103 million selling emissions credits in 2018, $280 million in 2017, and $215 million in 2016, according to a recent financial filing.

FCA, which owns brands like Jeep and Dodge, announced in mid-2018 that it plans to spend 9 billion euros (or just over $10 billion) by 2022 to add more electric and hybrid cars to its lineup. But analysts have said that is likely not enough to avoid billions of euros in fines for exceeding the EU’s target, which is 95 grams of CO2 per kilometer average across a carmaker’s whole fleet. In 2018, Fiat Chrysler’s average was estimated at 123 grams per kilometer.

Not only are the FCA fleet’s average emissions among the worst in the industry, the automaker was sued by the US Department of Justice in 2017 for allegedly using software to fool regulators into thinking its cars were compliant. FCA settled those charges for $800 million without admitting any wrongdoing, but it also recently recalled nearly 1 million vehicles in the US for violating emissions standards.

Tesla brought in $21.4 billion in revenue in 2018, with $7.2 billion coming in the final quarter alone, so hundreds of millions of euros will make up a small portion of the overall money the company generates. But Tesla might still need help with its cash this year. While the company hasn’t released financial figures for the first quarter of 2019, it announced last week that it saw a quarter-to-quarter decline in deliveries for the first time in almost two years. And CEO Elon Musk said in February that he didn’t expect the company to turn a profit in the first quarter after posting back-to-back profits for the first time in the company’s history in the second half of 2018.

Tesla finished 2018 with $3.7 billion in cash, but $920 million of that was used to pay off some of the company’s $11 billion debt that came due in March. Following the release of the delivery figures, some typically bullish Wall Street analysts (like Morgan Stanley’s Adam Jonas) estimated that the automaker burned through more of those reserves this quarter. Jonas and others have also estimated that Tesla will need to raise more money this year — something Musk has denied.

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https://www.theverge.com/2019/4/8/18300393/tesla-fiat-chrysler-credits-european-union-emissions-fines

2019-04-08 19:24:07Z
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Former Ocean Resort owner Bruce Deifik dies in car crash after Colorado Rockies game - Press of Atlantic City

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1. Former Ocean Resort owner Bruce Deifik dies in car crash after Colorado Rockies game  Press of Atlantic City
2. Bruce Deifik, developer who reopened Ocean Resort Casino in Atlantic City, dies in Colorado car wreck  NJ.com
3. Developer, former casino owner Deifik dies in crash driving home from Rockies game  FOX 31 Denver
4. Bruce Deifik, former owner of Ocean Resort Casino, reported dead in Colorado  Philly.com
5. Former Ocean Resort owner Bruce Deifik dies in crash after Colorado Rockies game  Press of Atlantic City
6. View full coverage on Google News

https://www.pressofatlanticcity.com/news/press/casinos_tourism/former-ocean-resort-owner-bruce-deifik-dies-in-colorado/article_4a3b4f9b-7e9d-5508-b60e-f05dcdc0c3e7.html

2019-04-08 15:15:00Z
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Tesla sells European emissions law lifeline to Fiat Chrysler - Ars Technica

Enlarge / The ultimate compliance car? Sergio Marchionne, the late CEO of Fiat Chrysler Automobiles, had said that the company lost either $14,000, or $20,000, on every Fiat 500e, depending who you believe.

Fiat Chrysler Automobiles

Over the weekend, the Financial Times reported that Tesla and Fiat Chrysler Automobiles (FCA) have entered into an agreement that will deliver Tesla a fresh influx of cash and deliver FCA from the hands of Europe's tough new emissions regulations. Beginning next year, new European Commission rules begin to phase in that require a car maker's fleet-wide emissions to average no higher than 95g/CO₂/km—a figure that works out at roughly 57mpg for gasoline vehicles, or 76mpg for diesel-powered vehicles.

From 2020, 95 percent of an automaker's new cars sold in the EU have to meet this target, with the remaining 5 percent falling under the law in 2021. And the penalties for failing are draconian: a €95 ($107) "excess emissions premium" per gram of CO₂ over the target, for every single car registered in the EU that year. For some OEMs, this has the potential to be ruinous; if FCA's portfolio were the same in 2021 as it was in 2018, the automaker would have to pay some €2.77 billion ($3.12 billion), out of total net global profits of €3.63 billion ($4.1 billion).

Some OEMs are going all-out in their efforts to electrify in order to meet the new rules; VW's Roadmap E should be viewed in this context, for example. But for others, the road to electrification is not so simple. Although FCA announced a bold, €9 billion ($10.5 billion) plan to electrify its lineup by 2022, its actual plug-in portfolio is currently limited to the Chrysler Pacifica Hybrid (which is not sold in the EU) and the Fiat 500e, a car thought to lose the brand many thousands of dollars for each one sold.

Although the exact financial terms of the deal are unknown, the FT says it the agreement is in the range of "hundreds of millions of euros." Interestingly, the FT also reports that Tesla had extended the offer to other OEMs to join this emissions pool but that none had accepted by the March 25th deadline. For Tesla, this will no doubt be a welcome financial lifeline. Each of Tesla's four profitable quarters since the company was founded in 2003 have depended heavily upon the sale of Zero Emissions Credits in California. Although the company has yet to release its results for Q1 2019, we do know that it suffered a precipitous drop in sales during the first three months of the year, particularly among the high-margin Model S and Model X electric cars.

Furthermore, the company has had to dip into its cash reserves to meet a hefty $920 million bond payment, with more debt coming due soon. And if that wasn't enough, the company needs to develop and then build the Model Y electric crossover, which will require heavy investment in capital expenditures. (This kind of spending has fallen heavily of late as Tesla has slashed its budget wherever it can in an attempt to improve its financial performance for the market.)

However, it's unlikely to be a long-term panacea; at some point, FCA's electrification has to happen (or it has to withdraw from selling vehicles in the EU). In the meantime, it now needs Tesla to sell as many EVs in Europe as it possibly can.

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https://arstechnica.com/cars/2019/04/tesla-sells-european-emissions-law-lifeline-to-fiat-chrysler/

2019-04-08 14:23:00Z
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Here's who will get rich from Pinterest's IPO - CNBC

Pinterest is seeking a valuation of up to $9 billion when it debuts on the public market this spring, which will rake in hundreds of millions for each of its founders and other major stakeholders. Pinterest's valuation was said to be $12 billion nearly two years ago when it raised its last round of funding.

The company plans to sell 75 million Class A shares at $15 to $17 per share when it starts trading on the New York Stock Exchange under the symbol "PINS," according to a regulatory filing. Pinterest will use a dual-class structure to concentrate voting power among major stakeholders including co-founders Benjamin Silbermann and Evan Sharp. These stakeholders will own Class B shares.

Lyft similarly debuted with a dual-class structure when it hit the public market earlier this month. But unlike Lyft, whose founders are the sole owners of Class B shares, other major stakeholders in Pinterest like Andreessen Horowitz and FirstMark will also own this class of stock.

Pinterest is still on the early side of a wave of large tech IPOs anticipated this year. Uber and Slack are among some of the biggest public debuts expected to hit the public market as well.

Here's what each of Pinterest's major stakeholders stand to hold after its initial public offering, based on their post-IPO share counts and assuming the stock prices at the midpoint of its stated range at $16 per share:

Subscribe to CNBC on YouTube.

Watch: Pinterest sets its IPO price range at $15 to $17

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https://www.cnbc.com/2019/04/08/pinterest-ipo-the-largest-shareholders.html

2019-04-08 14:48:36Z
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Here's who will get rich from Pinterest's IPO - CNBC

Pinterest is seeking a valuation of up to $9 billion when it debuts on the public market this spring, which will rake in hundreds of millions for each of its founders and other major stakeholders. Pinterest's valuation was said to be $12 billion nearly two years ago when it raised its last round of funding.

The company plans to sell 75 million Class A shares at $15 to $17 per share when it starts trading on the New York Stock Exchange under the symbol "PINS," according to a regulatory filing. Pinterest will use a dual-class structure to concentrate voting power among major stakeholders including co-founders Benjamin Silbermann and Evan Sharp. These stakeholders will own Class B shares.

Lyft similarly debuted with a dual-class structure when it hit the public market earlier this month. But unlike Lyft, whose founders are the sole owners of Class B shares, other major stakeholders in Pinterest like Andreessen Horowitz and FirstMark will also own this class of stock.

Pinterest is still on the early end of a wave of large tech IPOs anticipated this year. Uber and Slack are among some of the biggest public debuts expected to hit the public market as well.

Here's what each of Pinterest's major stakeholders stand to hold after its public offering, based on their post-IPO share counts and assuming the stock prices at the midpoint of its stated range at $16 per share:

Subscribe to CNBC on YouTube.

Watch: Pinterest sets its IPO price range at $15 to $17

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https://www.cnbc.com/2019/04/08/pinterest-ipo-the-largest-shareholders.html

2019-04-08 13:30:15Z
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GE stock may be poised to crash more than 50% - Yahoo Finance

Tough start to the week for beleaguered General Electric (GE).

GE’s stock plunged as much as 6% in pre-market trading Monday as influential JPMorgan analyst — and long-time GE critic — Stephen Tusa slashed his rating on the stock to Underperform. It was back in December that Tusa surprisingly lifted his rating. Tusa dropped his price target on GE’s stock by a $1 to $5, suggesting it could crater by more than 50% from current levels.

Tusa returned to the well in his focus on GE’s pressured cash position in his latest attack. The analyst thinks Wall Street is “significantly over projecting” the bounce in free cash flow in coming years. Underperforming legacy assets in insurance and power are likely to weigh on the cash flow output of the business, Tusa contends.

Tusa isn’t alone in taking a bearish stance on a stock that has magically gained 55% from the December lows on hopes new CEO Larry Culp could stabilize the business this year and deliver a turnaround by 2020.

“This time around, we find it extraordinary that some analysts are suggesting that a potential GE free cash flow loss of up to $4 billion this quarter (vs. a loss of $1.7 billion in 1Q18) would be ‘fair’ or ‘expected,’” said Gordon Haskett analyst and longtime GE critic John Inch in a note Monday. “We believe that magnitude of cash loss could be both highly problematic and poorly received by the bond market and debt ratings agencies. It would also result in GE incrementally drawing on its revolver, and rising Debt/EBITDA – which would not be moving the debt needle in the right direction.”

Inch maintained his Underperform rating and $7 price target on GE’s stock. GE will announce its first quarter earnings later this month.

GE said 2019 will be a ‘reset year’

Culp continues to pull no punches in his comments on turning the company around, telling Wall Street at an investor day in March that 2019 will be a “reset year” and that GE’s challenges are “complex.” Chief Financial Officer Jamie Miller told Yahoo Finance that Culp is looking at GE through a “reality-based lens,” counter to many other top executives at the company over the years.

Investors appear to have forgotten those realities, and they are plentiful. For example, GE sees first quarter earnings down “significantly” as it works through issues at its power and GE Capital businesses.

However, some analysts like Tusa and Inch have surely not forgotten those realities.

Brian Sozzi is an editor-at-large at Yahoo Finance. Follow him on Twitter @BrianSozzi

Read more:

• General Electric still looks like a colossal mess

• GE is one of the most complicated companies in Corporate America

• Is General Electric ridiculously overvalued?

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https://finance.yahoo.com/news/ge-stock-may-be-poised-to-crash-more-than-50-123144108.html

2019-04-08 12:31:00Z
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