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Tesla (TSLA) shares fell Tuesday following a bearish report saying the maker of all-electric vehicles will continue to lose money on an annual basis through 2019. XAutoplay: On | OffJefferies analyst Philippe Houchois initiated coverage of Tesla with an underperform rating and price target of 280, which is 26% below where the shares currently stand. Tesla shares were down 2%, near 377.10 during morning trading in the stock market today. Tesla shares are up 77% this year. "It is with a bit of a heavy heart that we initiate coverage of Tesla at underperform," Houchois wrote in a note to clients Tuesday, saying that boosting production remains the main challenge for Tesla. "Achievements to-date
The world's second-largest economy will likely start manufacturing engines for jumbo jets soon, according to Rolls-Royce (London Stock Exchange: RR.-GB), a long-time engine manufacturer for commercial and defense aerospace. "In the long-run, it's very possible and plausible that China and other countries will be looking to develop wide-body engines," said Rolls Royce Chairman Ian Davis at the Singapore Summit over the weekend. "It makes sense for industrialized countries to start doing so and we assume at some stage of the future that they will come in." The Shanghai-based Commercial Aircraft Corporation of China, or COMAC , has already begun the development of a narrow-body engine.
According to a recent note by equity research firm Jefferies, there's evidence that mass-market retailers like Target are now lowering prices to compete with Lidl, which has 10,000 global stores but just came to the US.