Good Morning. This is the Investor Lookout with the daily digest.

Here’s what we got today:

• 🚗 Stellantis CEO Suddenly Exits Amid Sales Slump 

• 📱 iPhone 16 Demand Considered As 'Slightly Ahead to in Line' With Projections

Stellantis CEO Suddenly Exits Amid Sales Slump 

Stellantis just put its CEO in park mode. Carlos Tavares has abruptly resigned as Stellantis ($STLA) CEO following conflicts between major shareholders, the board, and his leadership approach. The automaker, parent to Jeep, Fiat, and Peugeot, has lost 40% of its stock value this year while competitor GM ($GM) surged 55%. Chairman John Elkann will lead an interim executive committee until a new CEO is found in early 2025. The crisis deepened after September's profit warning of a $10.6 billion cash burn, which led to a management overhaul including changes in CFO and North American operations leadership.

• U.S. dealerships report excessive inventory with 112 days of supply for key models, 20 days more than competitors

• Board tensions grew over concerns that Tavares was focusing on short-term solutions to save his reputation

iPhone 16 Demand Considered As 'Slightly Ahead to in Line' With Projections

Santa's elves are working overtime on iPhone orders. Some analysts and investors have expressed concerns about the demand for the iPhone 16 for the holiday season, but a Wedbush Securities analyst has a positive perspective on Apple's ($AAPL) latest gadget. Dan Ives wrote in a note to clients that the demand for the newest smartphone series from the Cupertino giant since September is "slightly ahead to generally in line with expectations globally." He also noted that Apple Intelligence has yet to roll out to China or many other countries, with April the likely release timeframe. The analyst kept his Outperform rating and $300 price target for the tech company. 

• The iOS 18.2 update to be released in early December will introduce major AI features, including ChatGPT integration

• New AI features could help start a supercycle of upgrades, as 300 million iPhone users have not upgraded in the last four years

Markets

Mounting risks in a $14 trillion corner of financial markets are a threat to economic stability, research firm says. Private market funds are finding little-regulated quick fixes to avoid defaults under tighter monetary policy. [Read]

Trump warns BRICS nations against replacing US dollar. U.S. President-elect Donald Trump demanded that BRICS member countries commit to not creating a new currency or supporting one that would replace the U.S. dollar. [Read]

Trump-obsessed stock-market investors are about to get a reality check from jobs data. This week's labor-market data, including the November jobs report due on Friday, carry significant implications for the Federal Reserve's interest rate-cut plans. [Read]

Business

How GE Vernova plans to deploy small nuclear reactors across the developed world. GE Vernova's ($GEV) small modular reactor, BWRX-300, could produce more than $2 billion in annual revenue by the mid-2030s. [Read]

JPMorgan agrees to drop lawsuit against Tesla over stock warrants. JPMorgan Chase ($JPM) agreed on Friday to drop its lawsuit against Tesla ($TSLA), which accused the vehicle maker of breaching a contract between the two companies in 2014. [Read] 

Chinese consumers are on a health kick — and Lululemon is reaping the rewards. Lululemon ($LULU) reported that same-store sales in North America fell by 3% in the second quarter and increased by 21% in China compared to the year before. [Read]

Invest In Companies, Not Stocks. "Behind every stock is a company. Find out what it's doing." — Peter Lynch

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.