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Posts Tagged ‘tesla stock’

Tesla Narrows Second-Quarter Loss as Revenues Nearly Double

Investors rally after a week-long stock slide.

by on Aug.02, 2017

Early versions of the Model 3 are shown waiting for delivery to the first buyers last week.

After taking a sharp tumble, Tesla stock rallied on Wednesday, investors responding positively to a nearly doubling of revenues during the second quarter, with the battery-carmaker’s loss for the April-June period narrowing more than analysts had expected.

Tesla clearly needed a boost after suffering a nearly $70 a share dip from the record $383.45 closing it had hit on June 23rd. And the second-quarter earnings appeared to be just the tonic needed as the company moves into the critical rollout of its Model 3 sedan.

By the Numbers!

For the quarter, Tesla reported an adjusted loss of $1.33 a share, well below the $1.82 deficit analysts had anticipated, according to consensus numbers gathered by Thomson Reuters. Meanwhile, revenue jumped to $2.79 billion, while analysts had expected a figure of $2.51 billion. (more…)

It’s Official: 1st Tesla Model 3 Rolls Off the Line

Pricing still TBD.

by on Jul.10, 2017

The first saleable Tesla Model 3 poses in front of the company's Fremont, CA plant.

Twitter-savvy Tesla CEO Elon Musk has posted a picture of what appears to be the first “saleable” Model 3 sedan to roll off the battery-carmaker’s Fremont, California assembly line, a critical step in Tesla’s push to become a truly mainstream manufacturer.

But the company appears to have pushed back on its promise to start taking official orders for the new Tesla Model 3 on Friday and still has not given a clear sense of pricing for the compact battery-electric vehicle. A visit to the Tesla website only reveals the same information that had been up there for some time, among other things noting a “starting price” of $35,000.

Breaking News!

Tesla has a lot riding on the Model 3 launch. Though there are plenty of skeptics, Musk has outlined a plan that would take the company’s production to 500,000 vehicles in 2018 – a sixfold increase from 2016 – and Model 3 would account for about 80% of that total.

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A Good Week Gone Bad for Tesla

Update: GM overtakes Tesla as EV maker's stock collapses.

by on Jul.06, 2017

Tesla hoped for a big boost by announcing the production launch of the new Model 3.

(This story has been updated to reflect the continuing plunge in Tesla stock on Wednesday.)

What started out as a week full of fireworks for Tesla may be turning into a dud.

The automaker’s high-flying stock suddenly has taken a nosedive since traders returned from the long Fourth of July holiday, falling 7% on Wednesday and, by midday Thursday dipping nearly another 5 percent. At around $310 per share by mid-afternoon, TSLA was not only off sharply from the record $383.45 set on June 23rd, but with a market capitalization of just under $51 billion. the value of Tesla had slipped behind that of General Motors for the first time in nearly three months.

Insight!

That’s clearly not what CEO Elon Musk had in mind when he tweeted on Sunday that Tesla was planning to start production of the eagerly awaited Model 3 on Friday. That’s the same day, he added, that Tesla would formally begin taking orders for the vehicle that is expected to transform the carmaker from a niche to mainstream player.

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Tesla Back in Consumer Reports’ Good Graces

Models S, X rewarded for return of auto-braking.

by on May.24, 2017

Tesla temporarily disabled auto-braking when it revised its hardware before finish a software upgrade.

After slamming the automaker for some serious concerns over safety, Consumer Reports has upgraded two of Tesla’s battery-electric vehicles.

The non-profit publication slammed both the Tesla Models S and X last month when it discovered the recently updated EVs did not have working automatic emergency braking, or AEB, systems – something that was offered on the older versions of the electric sedan and SUV. Using over-the-air updates, however, Tesla has activated that technology on the newer models.

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“It’s uncommon for a newer vehicle to be less capable than an older vehicle, especially when it comes to safety,” said CR’s director of automotive testing, Jake Fisher.

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Tesla Reports Bigger 1Q Loss Than Expected

But production hits record; revenues beat forecast.

by on May.03, 2017

Investors continue to drive up Tesla shares, betting on the success of the upcoming Model 3.

Despite record production and deliveries – and a surging stock price – Tesla managed to disappoint on Wednesday by reporting a bigger loss than analysts had been forecasting – though revenues for the first quarter of 2017 did manage to beat expectations.

The Silicon Valley battery-carmaker reported a loss of $1.33 a share, significantly worse than the 81 to 83-cent loss various tracking firms had Wall Street trackers predicting. The company has turned a quarterly profit – using non-standard accounting – only twice since it went public.

We're on the Beatt!

The news wasn’t entirely disappointing. Tesla’s revenues for the January-through-March quarter came in at $2.70 billion, about $90 million above expectations. Production, the company said, was up by 64%, year-over-year. And Tesla previously had reported that it delivered 25,051 vehicles during the quarter, an all-time record, with a target of 50,000 battery-cars for the first half.

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Tesla on Top, Now Most Valuable U.S. Automaker

"It's one of the strangest things I have ever seen."

by on Apr.10, 2017

Tesla CEO Musk can now afford a shirt with sleeves, as his stock soars to a new record.

Tesla is the new king-of-the-hill, after a week giving chase to long-time industry leader General Motors, the Silicon Valley upstart wound up narrowly squeaking into the lead, a nearly $51 billion market capitalization running just ahead of GM’s as trading on the New York Stock Exchange closed Monday afternoon.

Tesla had seemed poised for more than a week to take the lead, having already nudged past Ford Motor Co. earlier in the month. But Monday brought the Wall Street equivalent of a close horse race, GM and Tesla trading the lead almost by the hour. Finally, as the bell range, the EV maker had a closing stock price of $312.39, a $9.85 gain for the day, leaving it valued at $50.95 billion, while GM closed up $0.26 a share, at $33.97, with a market cap of $50.89 billion.

News You Can Trust!

The surge in Tesla’s market performance comes at a critical time for the Silicon Valley automaker, which little more than a month ago had warned its finances were “on the edge” as it continued its costly investment in the launch of the new Model 3. The midsize electric vehicle, Tesla’s first priced by the mainstream, is set to go into production in July.

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Wall Street Throws Tesla a Lifeline

Stock offering does better than expected.

by on Mar.17, 2017

Tesla needed cash to ensure the Model 3 launch.

Despite growing concerns among industry analysts, investors haven’t given up on Tesla. Anything but.

Wall Street came up with another $1.2 billion in capital for the Silicon Valley battery-carmaker this week as it went back for an infusion aimed at helping complete development of the critical new Model 3 SUV set to go into production in July. And it’s possible the figure could climb to $1.4 billion.

Stay Plugged In!

The latest stock offering went off barely a year after Tesla’s previous turn to the market, and was meant to “reduce any risks associated with the rapid scaling of (our) business due to the launch of Model 3, as well as for general corporate purposes,” the company said. It also came just weeks after Tesla CEO Elon Musk warned that the maker’s finances were “getting very close to the edge.”

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CEO Musk: Tesla Won’t Disable Autopilot Feature

NTSB latest to launch investigation after three crashes.

by on Jul.13, 2016

Tesla CEO Musk won't pull the plug on Autopilot and, if anything, insists it will enhance safety.

Despite growing concerns about the safety of its Autopilot technology, Tesla Motors CEO Elon Musk is making it clear he has no intention of disabling the semi-autonomous driving system. If anything, the South African-born entrepreneur argues that Autopilot will save lives in the long-run.

Not everyone is quite so confident, at least not in its current beta mode.  The battery-carmaker itself has confirmed the technology played at least some role in a fatal crash on May 9, and two Tesla owners have since blamed Autopilot for crashes that have occurred this month.

Your Auto Insider!

The National Highway Traffic Safety Administration launched a preliminary investigation following the Florida accident that killed former Navy SEAL Joshua Brown. The National Transportation Safety Board is now conducting its own investigation. Separately, the Securities and Exchange Commission is looking at Tesla’s decision not to publicly reveal the fatal crash for eight weeks – until after the maker’s latest, $2 billion stock offering.

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Tesla Model 3: Hit or Hype?

Advance reservations pass 250,000 -- but will they actually translate into sales?

by on Apr.04, 2016

Tesla says the base Model 3 will get 215 miles per charge - and start at $35,000.

Even before the new Model 3 sedan was unveiled late last Thursday, Tesla Motors said it had logged more than 100,000 advanced orders. And as of the following Monday morning, the Silicon Valley carmaker claimed the figure had topped 250,000 – a number that would translate into more than $10 billion in retail sales.

The surge of interest is unprecedented in the auto industry, resembling more the sort of frenzy that has greeted the launch of a new Apple iPhone. But at this early stage, at least 18 months before the first car is scheduled to roll off the assembly line, can the new Tesla Model S be considered a hit, or a case of battery-powered hype?

Perspective!

That’s a question which few industry observers seem to agree upon. Investors have clearly been impressed, driving Tesla’s stock price up by over $15 a share since the hours before the electric sedan’s unveiling. That run-up comes despite the warnings issued by some key analysts.

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Bear Market Bites Tesla

Analysts and investors grow skeptical as EV maker prepares 2015 earnings report.

by on Feb.10, 2016

A scene from the new Tesla ad, Serious Wonder, featuring the voice of Nikola Tesla.

Tesla got a much-needed, albeit small bump on Wall Street Tuesday, but shares of the maverick battery-carmaker have been trading near a two-year low ahead of the company’s fourth-quarter earnings announcement.

The stock is down by more than a third since the beginning of the year, a downturn significantly more severe than the bearish turn the overall stock market has been experiencing, and a sign of increased concern by key analysts like Barclay’s Brian Johnson. On Tuesday, he cut his forecast from $180 to just $160 a share.

Plug In!

There are still a handful of analysts who rate Tesla a “Buy,” and even a “Strong Buy,” but the mood has turned sharply in recent months, Stifel’s James Albertine summing up by cautioning, “We see few catalysts to turn short-term bears bullish.”

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