|Day's Range||121.73 - 134.29|
Dow components Boeing and McDonald’s will report earnings before the opening bell, and tech behemoths Facebook, Microsoft and Tesla will round things out after the market close.
Tesla is poised to report quarterly results Wednesday after market close, giving investors a look under the hood at the company’s financial performance as its operations in China ramped well ahead of schedule and deliveries hit a fresh record.
Stock futures rose as Apple continues to fuel the market rally. Microsoft, Facebook and Tesla earnings are due after the close.
LONDON/HONG KONG, Jan 29 (Reuters) - Many global companies from hotels and airlines to industrial houses are expected to have to foot the bill for disruptions caused by a new coronavirus in China, with epidemics usually excluded from insurance cover, experts said. With 132 deaths in China and new cases being reported around the world, companies are set to face billions of dollars in losses linked to events and travel cancellations and closure of businesses, they said. The virus originated in the city of Wuhan, forcing airlines to cancel flights and companies including Facebook and HSBC to suspend travel to China.
STOCKSTOWATCHTODAY BLOG Three numbers to start your day: Tesla Stock Has Rallied 90% in the Past 12 Months So expectations are sky high for its quarterly earnings results, those are out after the market close today.
FT subscribers can click here to receive Tech Scroll Asia by email. We are pleased to announce that Tech Scroll Asia is now free to read for new subscribers for 30 days. The world of Asia tech is certainly not immune from the coronavirus outbreak.
returned to Apple as chief executive in September 1997, the computer maker was valued at $3bn — less than one-tenth the value of German conglomerate Siemens, Europe’s largest industrial group both then and now. is worth more than the entire Dax index of Germany’s 30 leading companies. Valuations of companies have often been used to make misleading comparisons: there is a cottage industry of pundits who have tried to compare the value of large multinationals to the GDP of entire countries.
Coronvirus fears are being raised in earnings calls throughout different sectors as Wall Street looks for any effects from the virus spreading within and outside of China, which should lead to a lot of talk on what could be the busiest single day of the earnings season.
Tesla Inc (NASDAQ: TSLA ) has already confirmed its third consecutive deliveries record with 112,000 units in the fourth quarter. On Wednesday afternoon, it will release additional details of its fiscal ...
With Tesla stock cruising at stratospheric highs, shares could hit the afterburners or suddenly stall and reverse next week, depending on what it says about fourth-quarter earnings.
Electric pickup truck start-up Lordstown Motors is pursuing a $200 million loan from a U.S. Energy Department program to retool a former General Motors factory in northeast Ohio, Chief Executive Steve Burns told Reuters. Burns met with Energy Secretary Dan Brouillette on Monday for about an hour and the company was holding additional talks with officials on Tuesday from the Energy Department's Loan Program Office. Burns disclosed the company plans to unveil a drivable version of its electric truck at the Detroit auto show in June.
Tesla stock was rising on Tuesday, a day before the electric-car maker’s fourth-quarter earnings report and in the face of concerns over the outbreak of coronavirus in China.
Apex Clearing recently unveiled its fourth-quarter Millennial 100 report, which analyzed more than 734,000 portfolios owned by U.S.-based investors with an average age of just over 31 years. Many of the names are probably exactly what you’d expect, along with perhaps a surprise or two.
Tesla's quarterly report could be another wild ride for investors. The electric carmaker's stock has more than doubled since Tesla's previous quarterly report on October 23, when it posted a surprise profit that was viewed as a milestone for the company.
PACCAR (PCAR) projects capital expenditures, and research and development expenses at $625-$675 million and $310-$340 million, respectively, for the current year.
Automotive supplier BorgWarner shocked investors Tuesday, announcing a deal to buy Delphi Technologies. The deal looks like a bet on fossil fueled vehicles—and Borg investors don’t appear happy.
(Bloomberg) -- When Tesla Inc. reports earnings Wednesday, Elon Musk will be trying for a repeat performance.The electric-car maker’s shares have been on an unprecedented ascent since the chief executive officer crammed his last release with positive updates. Tesla didn’t just blow earnings estimates out of the water, returning to profitability faster than Wall Street was expecting. Musk also reported being ahead of schedule opening a China plant and bringing out the Model Y crossover, kicking off a rally that’s been buoyed since then by record deliveries.Tesla will have to clear a higher bar this time. Analysts are expecting an adjusted profit of $1.74 a share for the fourth quarter, a little short of what the company earned both in the prior three months and year-ago period. But there are several levers Musk, 48, could pull to support the stock, which has climbed 33% already this year and 119% since he last reported results.Model YIn the months since Musk said the Model Y would be ready to launch this summer, sleuths have spotted prototypes in warm- and cold-weather states, spurring speculation that production could begin even sooner.The Model Y also has shown up on the National Highway Traffic Safety Administration’s database for tracking vehicle identification numbers, or VINs. The Performance AWD version of the crossover also has appeared on a California Air Resources Board site that hints at driving range.If Model Y deliveries are imminent, it will be another indication Tesla has turned a corner. Musk predicted during the last earnings call that the vehicle will outsell the S, X and 3 combined, without giving a time frame. While the CEO has a tendency to over-hype, SUVs are hot worldwide, so it’s not outlandish to expect the Model Y to catch on quickly. One bull has predicted it could carry the company to at least 550,000 total deliveries this year, from 367,500 in 2019.AutopilotIn October, Musk said Tesla was pushing to release a beefed-up version of a feature within its suite of driver-assistance technologies branded Autopilot. He expected a more advanced mode Tesla bills as “Full Self Driving” would be available for limited release to people who paid extra to get early access to certain software updates.Musk described a “feature-complete” version of the system that would enable Tesla cars to drive passengers from their house to work, “most likely without interventions,” though the driver would still need to supervise.If Musk pulled this off, it could generate more than just bragging rights, which brings us to the next trick Tesla could have up its sleeve.Deferred RevenueEarnings improved in the last quarter in part because the company recognized about $30 million of deferred revenue based on Musk releasing Smart Summon, a controversial addition to the Autopilot suite. The feature allows Tesla owners to tap their smartphone and remotely call their car to drive itself from elsewhere in a parking lot.Musk has been charging customers for performance features before Tesla’s vehicles are actually capable and socking away that revenue to be recognized later. At the end of September, the company said it expected to cash in on $662 million of deferred revenue in the following 12 months.Regulatory CreditsAnother revenue source Tesla can tap into that’s difficult for analysts to model for are the regulatory credits the company can sell to other automakers that need them to comply with emissions standards.Tesla generated $461 million in revenue from these credits in the first nine months of 2019, up 42% from the year-earlier period. Analysts expect this business to take off in the years to come, since Europe and China are making their car-pollution rules stricter.Fiat Chrysler Automobiles NV reached a deal last year to pool its fleet with Tesla’s in Europe. The amount of money Fiat Chrysler has said it will fork over—about $2 billion through 2023—will effectively fund the cost of the new factory Musk plans to open near Berlin, Ben Kallo, an analyst at Robert W. Baird & Co., wrote in a report earlier this month.ChinaChina was a source of much optimism for Tesla toward the end of the year, with the company handing over the first Model 3s assembled at its new factory near Shanghai to local employees. Deliveries to the public started the first week of January and was a dance-worthy occasion.The coronavirus that’s claimed the lives of at least 100 people in China’s Hubei province has sent markets tumbling and raised concern about exacerbating the nation’s auto-sales slump. Electric vehicles could be hit particularly hard since demand has been concentrated in major cities, Robin Zhu, a Bernstein analyst, warned in a report Monday.The public-health crisis casts a cloud over a promising story Musk could still shed more light on, focusing on the longer term. As of the end of last year, only about 30% of the parts being used to build Model 3s near Shanghai were sourced locally. The goal is for that number to reach 100% by the end of the year, reducing the company's costs and enabling Tesla to keep lowering prices and increasing sales.(Updates earnings per share consensus estimate in third paragraph)To contact the authors of this story: Dana Hull in San Francisco at firstname.lastname@example.orgDavid Welch in Southfield at email@example.comTo contact the editor responsible for this story: Craig Trudell at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
During the last shortened trading week, the US stock market lost some ground as concerns regarding the new coronavirus outbreak in China overshadowed the strong financial results reported by a number of companies, including Intel Corporation (NASDAQ: INTC), American Express Company (NYSE: AXP), and IBM (NYSE: IBM). The stock markets in the US were closed […]