NEW YORK, NY / ACCESSWIRE / December 20, 2018 /Tesla shares were trailing on Wednesday as the U.S. Congress said it will not vote on a bill that speeds up the introduction of self-driving cars before it adjourns for the year. Shares of Winnebago were exploding on solid first quarter results.
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Winnebago Industries, Inc. shares were up 13.58% on Wednesday with roughly 6.5 million shares traded. Average trading volume for the stock is only around 742,000 shares. The recreational vehicle specialist reported its fiscal first-quarter financial results with revenue jumping almost 10% compared to the year ago period. The Company reported adjusted EPS of $0.70 on revenue of $493.65 million, which was a beat on both top and bottom line. CEO Michael J. Happe said on the earnings call, "As fiscal year 2019 kicked off in late August of this past summer, we had just completed a successful fiscal 2018 year, a year in which Winnebago Industries surpassed $2 billion of net revenues for the first time in company history. North American RV market share had risen to approximately 8.5%. And we completed the acquisition of Chris-Craft, one of the world's finest luxury boat brands, in an intentional effort to diversify to new outdoor lifestyle arenas. It was a good year. We now look to 2019 in this fiscal year for more of the same: sales results that surpassed those of the industries we compete in; a focus on driving higher levels of profitability and asset utilization; and an appetite to grow in new ways that position Winnebago Industries and its brands for sustained future success. We are pleased with the results from the first quarter of this new 2019 year."
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Tesla, Inc. shares were down 1.20% on Wednesday. It was this week that the company's CEO Elon Musk unveiled the first Los Angeles-area tunnel at a Hawthorne, California event. “You can weave these stations throughout the fabric of the city without changing the character of the city," Musk said during a press briefing. It was also revealed this week that the United States Congress will not vote on a bill to speed the introduction of self-driving cars before it adjourns for the year. This is not favorable for electric vehicle makers such as Tesla. It was also reported that a Model S vehicle caught fire in a Los Gatos, California parking lot this week according to the Santa Clara County Fire Department. The car then reignited hours later at a tow yard in the city of Campbell. No injuries had been reported.
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