289.99 +2.40 (0.83%)
Pre-Market: 5:22AM EST
|Bid||289.36 x 900|
|Ask||290.00 x 900|
|Day's Range||281.69 - 294.48|
|52 Week Range||244.59 - 387.46|
|Beta (3Y Monthly)||0.62|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jan 30, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||334.53|
Our call of the day is Tesla, after RBC downgraded the company on profitability concerns.
Telsa is building a massive factory in Shanghai, the first wholly foreign-owned car plant in China. WSJ’s Trefor Moss explains why it’s doing so even as U.S.-China trade tensions heat up. Photo illustration: Crystal Tai
Elon Musk says Tesla is working on a "sentry mode" security feature that could let owners record damage and break-ins. The announcement came in response to a customer's tweet complaining of a dent to his Model 3 and suggesting a "360 dash cam feature while parked." To which Musk replied: "Tesla Sentry Mode coming soon for all cars with Enhanced Autopilot." He later clarified that the update would be available for all EVs with the Autopilot 2.5 Hardware.
Once seen as a laggard in the global mining industry, U.S. copper deposits have quietly drawn more than $1.1 billion in investments from small and large miners alike as Tesla and other electric carmakers scramble for more of the red metal. Four U.S. copper projects are set to open by next year - the first to come online in more than a decade - with several mine expansions also underway across the country, home to the world's fifth-largest copper reserves, according to the U.S. Geological Survey. The rising popularity of electric vehicles - which use twice as much copper as internal combustion engines - and increasingly pro-mining policies in the U.S. while other nations exert greater control over their mineral deposits are fueling the spending, according to mining executives and investors.
Over 200 employees have been dismissed from Apple Inc.s' Project Titan autonomous car project, CNBC reported Thursday, citing sources. The layoffs were not seen as a surprise to some, given Apple hired Tesla Inc. engineering vice president Doug Field to co-head the Titan team. An Apple spokesman confirmed the redundancies to CNBC, but said the company hasn't given up on the project. "We continue to believe there is a huge opportunity with autonomous systems, that Apple has unique capabilities to contribute, and that this is the most ambitious machine learning project ever," they added. The spokesperson said Other employees who were impacted by the restructuring of Project Titan are staying at Apple, but moving to different parts of the company.
Apple dismissed just over 200 employees from Project Titan this week, its stealthy autonomous vehicle initiative, people familiar with the group told CNBC. A former Apple and Tesla executive, Doug Field, returned to Apple in August to work on Project Titan, alongside Bob Mansfield. The Project Titan lay offs were billed, internally, as a kind of restructuring under the relatively new leadership.
Shares of Tesla fell by around 13% on Jan 18, after the company announced that it will cut around 7% of its workforce and lowered its guidance for fourth-quarter profit, putting related ETFs in focus.
After its surprise profit in third-quarter 2018, many fans of Tesla Inc. (TSLA) began to boast that the electric car company was in the clear. Many were confident that Tesla was finally on the road to the sustainable profitability long promised by CEO Elon Musk. Warning! GuruFocus has detected 3 Warning Signs with TSLA.
Tesla also faces the unenviable choice of raising prices at the risk of losing customers or slashing costs by thousands of dollars per vehicle as the electric vehicle tax break started to phase out from earlier this month. Chief Executive Officer Elon Musk had said earlier this month that Tesla will no longer be taking orders for the 75 kWh version of the Model S and X to streamline production. "As a result of this change and because of improving efficiencies in our production lines, we have reduced Model S and X production hours accordingly," a Tesla spokesperson said in an email.
Ford earnings guidance remained vague after the No. 2 U.S. automaker beat Q4 revenue forecasts late Wednesdsay.
Wall Street ended slightly higher on Wednesday after a spate of upbeat earnings reports, but lingering concerns about trade tensions and the longest U.S. government shutdown ever limited the advance. Investor sentiment was dampened by reports that business leaders gathered at the World Economic Forum in Davos, Switzerland, were losing confidence in President Donald Trump's policies that have resulted in the prolonged U.S.-China trade stand-off.
While these quarter-to-quarter fluctuations aren't the worst bits of news in the world -- at least Tesla's turning a profit now -- it did cause a 13% drumming in the stock price. More importantly, though, that beating took Tesla stock below a key level as its 2019 convertible bonds come due March 1. With a conversion price of $359.88, Tesla will have to satisfy the $920 million debt in cash should the stock price close below that mark upon maturity.
The Dow today led the major indexes higher in the stock market, thanks to big earnings-driven gains by three key component stocks.