329.06 -4.57 (-1.37%)
Pre-Market: 5:42AM EDT
|Bid||328.60 x 800|
|Ask||329.79 x 1800|
|Day's Range||332.00 - 352.25|
|52 Week Range||244.59 - 389.61|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 31, 2018 - Aug 6, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||308.91|
Elon Musk and Tesla in the news again -- let's first talk about its solar business. The Reuters report coming on the heels of Tesla's announcement last week to cut 9% of its workforce. Solar roof hit the mkt just over a year ago. stock selling off -- another bump in road for Musk... Just last week, CEO Elon Musk said his company would stop selling SolarCity products at sales kiosks at around 800 Home Depot Inc. stores- that retail partnership reportedly generated around half of the division's sales. Burning through cash -- some investors don't see a viable strategy for the company to turn things around. How can Musk change the narrative and investors minds? Bernstein note today questioning Tesla's treatment of costs in its financial statements, saying margins on the cars they sell may have been overstated. How serious is this for Tesla?
CyberSponse Chairman Joseph Loomis and Gerber Kawasaki CEO Ross Gerber react to Tesla’s lawsuit against an ex-employee, who allegedly hacked the company’s system and leaked data to unnamed third parties.
In an effort to meet production goals for its Model 3 sedan, Tesla has built a new tentlike, open-air assembly line facility outside its factory in Fremont, Calif.
Friday, June 22: OPEC agrees to increase in oil production after capping output; Tesla to cut 9% of its residential solar business workforce and close a dozen solar facilities; ABC to premiere "The Conners," a spinoff of "Roseanne," after cancelling the show because of a series of racists tweets by Roseanne Barr, who will not be involved with the new show. Yahoo Finance's Dion Rabouin serves up today Business + Coffee.
Yahoo Finance's Seana Smith and Jared Blikre on the biggest headlines moving the markets in midday trading Friday.
Electric car maker Tesla's move last week to cut nine percent of its workforce will sharply downsize the residential solar business it bought two years ago in a controversial $2.6 billion deal, according to Reuters sources. Roselle Chen reports.
Some lessons of last week’s border crisis-ette we already knew: President Donald Trump is a racist bully, and one with a glass jaw that showed when Trump backed down from not only his gimmick of deterring immigration to the U.S. by throwing toddlers into tent camps while their parents’ asylum claims are heard, but backing off the notion of prosecuting illegal entrants accompanying children entirely by late Thursday. The latter comes courtesy of Adam Ozimek of Moody’s Analytics, whose counter-intuitive numbers should change your thinking about America’s 21st century immigration.
Shares of Tesla Inc. dropped 3% on Friday, when a Bernstein analyst questioned whether the car maker’s automotive margins are telling the whole story. Of concern to Bernstein’s Toni Sacconaghi is a drop in Tesla’s (TSLA) “services and other” margins over the past few quarters. Margins for this segment, which consists of servicing infrastructure and used-car sales, are listed separately in Tesla’s financials from the company’s automotive margins.
Benzinga has featured looks at many investor favorite stocks over the past week. Bullish calls included a top semiconductor maker and utilities stocks. Bearish calls included the leading electric car maker ...
If we sidestep the dramatic sabotage acts going on at Tesla Inc (NASDAQ:TSLA) right now, we run into the company’s recent solar news. While Tesla stock has been stampeding higher, fueled by a short squeeze, many are still questioning the automaker’s underlying fundamentals. Earlier this month, CEO Elon Musk announced that the company will layoff approximately 9% of its workforce.
Before we get to the looming Tesla funding crisis, let’s notice that the web still isn’t living up to its reputation. Given all the agencies and organizations dying to inform you about global warming, it’s almost maddening that one piece of data is unavailable: how much of the global emissions “problem” is caused by cars and light trucks that consumers buy. Take the Union of Concerned Scientists.
Stocks that moved substantially or traded heavily on Friday: Exxon Mobil Corp., up $1.69 to $81.38 Energy companies and oil prices rallied after OPEC said it will produce more oil, but not as much as investors ...
Since then, Musk, 46, has founded and led companies that revolutionized each of those areas. "If somebody is doing something that is useful to the rest of society, I think that's a good thing," Musk told Y Combinator CEO Sam Altman in a 2016 interview . To be successful, it's important to measure the impact you will have on others, Musk argued.
While the recent selloff hasn’t been that brutal — like February’s 10% beatdown in 10 days — it was nice to see stocks finally climb higher on Friday. The Dow Jones snapped an eight-session losing streak, but the losses have broken a lot of setups. In that regard, here are the top stock trades we found for Monday.Top Stock Trades for Monday#1: BlackBerry (BB)
Tesla (TSLA) stock began trading on a positive note earlier this month after its shareholder meeting on June 5. During the meeting, CEO Elon Musk suggested that the company is on its way to reaching Model 3 Q2 production targets. According to a CNBC report, Musk has accused one employee of sabotage at Tesla’s car manufacturing (XLY) facility.
Tesla is suing a former employee for allegedly hacking into the company's factory software, known as its MOS, or Manufacturing Operating System. MOS is one of several disparate reporting systems that Tesla created and uses to track materials, vehicle and battery production in its factories. The former employee has disputed Tesla's hacking charges.
In a note published on Friday, June 22, Bernstein analysts questioned whether or not Tesla is overstating its automotive gross margins. "We struggle to find evidence as to why the COGS [cost of goods sold] of Services and Maintenance have increased exponentially (up $266 million in [fiscal year] FY '17 vs. up $66 million in FY '16), with no commensurate increase in revenues," stated Bernstein in the note. Investors tend to focus heavily on the automotive gross margins as compared to the services and other margins, meaning that—if Tesla was moving the costs around—then investors might not know to look in the services and others margin.
Each quarter, Tesla (TSLA) reports revenues and gross margins for its "Automotive" and "Services and Other" segments. Bernstein's A.M. (Toni) Sacconaghi Jr. thinks that the latter is worthy of more investor scrutiny. Sacconaghi doesn't find the company's data, which points to a build out in services infrastructure for the cost increase without a commensurate sales climb, as sufficient to explain the drop. At the moment, he admits that his best explanations are largely "guesses," but the "worry/key question, of course, is whether cost of goods sold that should be (or historically have been) booked in the Automotive Segment are now being booked in the 'Services and Other' reporting segment, given that investors focus nearly exclusively on Automotive gross margins & generally disregard 'Services and Other' GMs." Of course, if the "Services and Other" category is bearing the brunt of costs of goods sold that otherwise should be classified as automotive, the "Automotive" segment may have overstated gross margins—to the tune of 150 to 300 basis points, by his calculations.
The fire occurred after a cardboard baling machines that is used for recycling overheated, and was contained, Fremont Fire Department Division Chief Diane Hendry said on Friday. The Tesla spokeswoman said the production tent was not affected by the fire. Tesla has been burning through cash as it tries to hit a target of producing 5,000 Model 3 electric sedans per week after production delays.
The fire was contained to a cardboard bailing machine and there were no injuries, according to Tesla. Thursday night's incident is the latest in a series of fires at the facility. There was another fire at Tesla on Thursday night, the company confirmed.
recently announced decision to cut 9% of its workforce is having a big impact on its solar business. Reuters reported late Thursday that Tesla plans on closing a dozen solar facilities in nine states as part of the plan. Make no mistake, Tesla isn't cutting back its energy business here.