|Bid||210.10 x 900|
|Ask||210.08 x 800|
|Day's Range||211.00 - 221.17|
|52 Week Range||176.99 - 379.49|
|Beta (3Y Monthly)||0.33|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 22, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||251.85|
Greg Migliore, editor-in-chief of Autoblog, believes it'd be a 'brilliant move' for Volkswagen to really look at buying Tesla and it will give it a 'critical edge'.
(Bloomberg) -- Walmart Inc. isn’t the only corporation that has seen its Tesla Inc. solar panels catch fire.On Friday, Amazon.com Inc. said a June 2018 blaze on the roof of one of its warehouses in Redlands, California, involved a solar panel system that Tesla’s SolarCity division had installed. The Seattle-based retail giant said by email that it has since taken steps to protect its facilities and has no plans to install more Tesla systems.News of the Amazon fire comes just three days after Walmart dropped a bombshell lawsuit against Tesla, accusing it of shoddy panel installations that led to fires at more than a half-dozen stores. The claims threaten to further erode Tesla’s solar business at a time when the company is fighting to gain back market share.Walmart and Tesla issued a joint statement late Thursday, saying they were in discussions to resolve their issues. “Both companies want each and every system to operate reliably, efficiently, and safely,” they said. Tesla fell 0.8% in after-hours trading on Friday to $209.75. In the complaint filed Tuesday, Walmart said it had leased or licensed roof space at more than 240 stores to Tesla’s energy unit. Two of the Walmart fires occurred in May 2018. Amazon said it has a very small number of solar systems installed by Tesla.More widely known for its electric cars, Tesla bought panel installer SolarCity three years ago in a $2 billion deal that proved highly controversial. SolarCity’s chief executive officer at the time is the cousin of Tesla CEO Elon Musk, and Musk was the chairman of SolarCity’s board.Also this week, Business Insider reported that Tesla launched an effort to replace a faulty part used in some of its solar panel systems last year. It was unclear whether issues with the component known as a “connector” affected Walmart or Amazon installations.Tesla said in response to the Business Insider story that some connectors manufactured by Amphenol Corp. “experienced failures and disconnections at a higher rate than our standards allow.” Over the past year, the company said, less than 1% of sites with these connectors exhibited abnormal behavior.Amphenol did not respond to a request for comment.(Updates to include joint company statement in fourth paragraph)\--With assistance from Brian Eckhouse.To contact the reporters on this story: Dana Hull in San Francisco at firstname.lastname@example.org;Matt Day in Seattle at email@example.comTo contact the editors responsible for this story: Lynn Doan at firstname.lastname@example.org, Kara WetzelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
President Trump raised China tariffs late Friday, as the China trade war spirals. The Dow Jones dipped after plunging in Friday's session. So did Apple, AMD, Tesla and Nike.
It was a Rorschach test of sorts, in that investors read what they wanted into comments made by Federal Reserve Chairman Jerome Powell today in Jackson Hole, Wyoming. Then President Donald Trump responded.Powell said there is no "rulebook" for a trade war and promised that the Fed would "act as appropriate to sustain the expansion."InvestorPlace - Stock Market News, Stock Advice & Trading TipsTrump, dissatisfied with a lack of stimulative action, tweeted "the Fed did NOTHING," and then followed that tweet with another, saying "Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing […] your companies HOME and making your products in the USA."The meaning and nature of the message wasn't entirely clear, but investors saw the glass as half empty rather than half full. By the time the closing bell rang, the S&P 500 was down to the tune of 2.6%. The Dow Jones Industrial Average fell 2.4%, while the NASDAQ Composite ended the day down 3.0%.Bond prices advanced on Friday, partly as a result of investors seeking safety that stocks can't offer, and partly because at least enough investors suspect another rate cut may be looming. While Powell said little on the matter, the market interpreted his wording and Trump's follow-up as a clue that rates may be moving lower in the foreseeable future.September's Federal Open Market Committee meeting is a regularly scheduled opportunity to change the Fed Funds Rate. Top News in the Stock Market TodayPresuming the trade war being fought between China and the United States in indeed escalating, all companies will be impacted. None may be as hard hit as auto makers like Tesla (NASDAQ:TSLA) and Ford Motor (NYSE:F), however. That's because both still deliver large numbers of vehicles from the U.S. to China, and now face a reinstituted tariff of 25%. General Motors (NYSE:GM) is also a popular brand in China, but with much of its manufacturing for the market being done there, it's able to circumvent the expensive import duties. * 10 Undervalued Stocks With Breakout Potential Still, GM shares were pressured all the same, as Trump also encouraged companies with manufacturing operations in China to relocate that production elsewhere.VMware (NYSE:VMW) Chief Executive Officer Patrick Gelsinger described the cybersecurity market as "broken" Thursday evening, as a prelude to news that it would be simultaneously acquiring Carbon Black (NASDAQ:CBLK) and Pivotal Software (NYSE:PVTL). "The acquisitions announced today will advance our goal of offering more comprehensive and trusted cloud-agnostic solutions," explained Gelsinger.Shareholders aren't quite as convinced the $4.8 billion VMware is laying out for the two companies is money well spent, however. VMW stock fell almost 10% on the news.A long nightmare for Boeing (NYSE:BA) could be ending soon, according to reports from The Seattle Times. The newspaper's website suggested Thursday evening that the beleaguered 737 MAX could be re-certified by the Federal Aviation Administration within the next few weeks. The plane was grounded in the United States, and elsewhere, after a couple of fatal crashes were linked to a safety system that caused confusion for pilots. The solution, however, is a relatively easy recoding of the software that operates the system.The news didn't boost BA stock much, though it did keep it out of the red on a day most other names were losing a lot of ground. Big MoversFoot Locker (NYSE:FL), already losing ground since rolling over in April, lost another 19% on Friday after reporting sales and earnings that fell short of expectations. Operating income of 66 cents per share missed estimates of 67 cents, and were down nearly a dime from year-ago numbers. Sales of $1.77 billion were also down a bit year-over-year, but more than that, came up short of the $1.82 billion analysts had modeled.Friday was a particularly poor day for toy maker stocks Hasbro (NASDAQ:HAS) and Mattel (NASDAQ:MAT), although for different reasons, neither of which was earnings-related.HAS stock ended the day lower by 10% after the company announced it would be acquiring Entertainment One -- the name behind "Peppa Pig," and others -- for $4 billion. Though Entertainment One's lineup is marketable, investors aren't sure this is the right step at the right time for the struggling company, which makes "Star Wars," "Transformers" and "My Little Pony" toys.Mattel, which owns Barbie and Hot Wheels just to name a few, saw its stock slump 7% largely because Hasbro's deal to buy Entertainment One makes it very unlikely it would also be looking to acquire Mattel as well. Some investors were hoping, and even expecting, the two lethargic names in the toy business to team up as a means of propping one another up.Increasingly strained trade ties with China isn't good news for either toy company either.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about him at his website jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now The post Stock Market Today: Trump's Tweets Rattle Investors, Foot Locker Trips appeared first on InvestorPlace.
In a joint statement, Walmart and Tesla said they “look forward to addressing all issues” raised in Walmart’s civil suit Tuesday.
Today, the S&P; 500 Index opened 0.5% lower amid reports that China would impose tariffs on $75 billion of US goods—intensifying the US-China trade war.
Greenlight Capital’s (GLRE) David Einhorn has called for Elon Musk to resign from Tesla (TSLA) in the wake of Walmart's solar panel fire lawsuit.
(Bloomberg) -- It only took 12 hours for hedge fund investor David Einhorn, a well-known Tesla Inc. critic, to wade into the controversy over the company’s solar systems.He called on Tesla Chief Executive Officer Elon Musk to resign after a Business Insider report overnight showed the company tried to replace faulty parts in its rooftop solar panel systems as part of an effort known as Project Titan. Earlier this week, Walmart Inc. sued Tesla, saying panels that the company’s energy unit installed caught fire on at least seven of its stores.“How many solar panels are still defective and could cause fires?” Einhorn said in a tweet Friday. “A recall should have happened long ago.”Tesla has proactively implemented a “remediation effort” to limit the impact a part known as a connector may have had, it said in an emailed statement. The company is unaware of any equipment manufacturer or regulator which has determined that substantial hazards exist. Over the past year, less than 1% of sites with such connectors have exhibited abnormal behavior, it said.Its efforts include “replacing any faulty H4 connector at sites or adding failure detection hardware, and issuing a software update to ensure systems are turned off in case of failure,” Tesla said.Einhorn’s tweet isn’t all that surprising given his short position in the company and how much his fund has profited from it. In April, he said “the wheels are falling off” for Tesla and has blasted the company’s electric-car business too.Late Thursday, Walmart said it and Tesla are in discussions to address the solar-system issue.(Updates with Tesla comment in fourth paragraph.)To contact the reporter on this story: Brian Eckhouse in New York at email@example.comTo contact the editors responsible for this story: Lynn Doan at firstname.lastname@example.org, Pratish Narayanan, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. China threatened to impose additional tariffs on $75 billion of American goods including soybeans, automobiles and oil, in retaliation for President Donald Trump’s latest planned levies on Chinese imports that pushed U.S. stocks and farm commodities lower.Some of the countermeasures will take effect starting Sept. 1, while the rest will come into effect from Dec. 15, according to the announcement Friday from the Finance Ministry. This mirrors the timetable the U.S. has laid out for 10% tariffs on nearly $300 billion of Chinese shipments.An extra 5% tariff will be put on American soybeans and crude-oil imports starting next month. The resumption of a suspended extra 25% duty on U.S. cars will resume Dec. 15, with another 10% on top for some vehicles. With existing general duties on autos taken into account, the total tariff charged on U.S. made cars would be as high as 50%.China’s tariff threats take aim at the heart of Trump’s political support -- factories and farms across the Midwest and South at a time when the U.S. economy is showing signs of slowing down. Soybean prices sank to a two-week low.The move drew a sharp reaction from Trump that sent stocks tumbling further on concern the talks are falling apart. “We don’t need China and, frankly, would be far better off without them,” he tweeted. “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA.”Among automakers, Tesla Inc. and Germany’s Daimler AG and BMW AG are the most vulnerable to the additional levies. Shares of the two German companies fell more than 2% in Frankfurt, while Tesla dropped 2.2% in New York.BMW and Daimler ship large numbers of sport utility vehicles from plants in South Carolina and Alabama to China, while Tesla doesn’t yet make its electric cars in the country. Six of the top 10 vehicles exported from the U.S. to the world’s biggest car market are from the two German brands, according to forecaster LMC Automotive.U.S. stocks dropped along with Treasury yields and oil prices. Emerging-market currencies also declined, while havens such as the yen and gold gained.The tariffs beginning in September include 10% on pork, beef, and chicken, and various other agricultural goods, while soybeans will have the extra 5% tariff on top of the existing 25%. Starting in December, wheat, sorghum, and cotton will also get a 10% tariff.While China will impose a new 5% levy on oil, there was no new tariff on liquefied natural gas.In Washington, the initial reaction from the White House was aimed at easing concerns about the fallout. “The amount of money being tariffed is not material in terms of macro growth,” Trump adviser Peter Navarro said on Fox Business Network. The retaliation will “absolutely not” slow growth, he said.China’s announcement comes as leaders from the Group of Seven nations prepare to meet in France and central bankers gather in Jackson Hole, Wyoming, to discuss issues such as the global slowdown. The Chinese announcement was foreshadowed by a tweet from Hu Xijin, the editor-in-chief of the Global Times, a newspaper controlled by the ruling Communist Party.China promised earlier this week that any new tariffs from the U.S. would lead to escalation and retaliation. The U.S. has said it will put 10% tariffs on some $110 billion of Chinese goods starting Sept. 1 and the same levy on another $160 billion on Dec. 15, a staggered approach aimed at ease the impact on the American economy.After Trump gave the go-ahead earlier this month for tariffs on the nearly $300 billion in Chinese imports that haven’t been hit by higher duties, China halted purchases of agricultural goods and allowed the yuan to weaken.Since then, negotiators have spoken by phone and are planning another call in coming days. People familiar with their intentions previously said that the Chinese delegation is sticking to their plan to travel to the U.S. in September for face-to-face meetings, which may offer a chance for further reprieve.The U.S. side is still hoping for that visit to happen, with Trump’s economic adviser Larry Kudlow telling Fox Business Network that “hopefully we are still planning on having the Chinese team come here to Washington D.C. to continue the negotiations.”“I don’t want to predict, but we will see,” Kudlow said on Thursday in Washington.(Updates with Trump’s tweet in fifth paragraph. An earlier version corrected source of statement in second paragraph.)\--With assistance from Anthony Palazzo.To contact the reporters on this story: Natalie Lung in Hong Kong at email@example.com;James Mayger in Beijing at firstname.lastname@example.org;Miao Han in Beijing at email@example.comTo contact the editors responsible for this story: Jeffrey Black at firstname.lastname@example.org, Brendan MurrayFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
China is slapping $75 billion in new tariffs on U.S. goods, including automobiles. Still, most cars are produced locally, making the Chinese tariff decision a macroeconomic problem and not a car issue. Of course, auto stocks aren’t going up today on this news.
Harley-Davidson's (HOG) 2020 model lineup including LiveWire, Low Rider S and CVO Tri Glide is in sync with the "More Roads to Harley-Davidson" growth plan.
Today, citing people familiar with the matter, Bloomberg reported that Tesla (TSLA) had agreed to buy batteries from LG Chem (LGCLF).
There was a time when Tesla (NASDAQ:TSLA) stock was a shining star on Wall Street, and Tesla CEO Elon Musk could do no wrong. This has all changed in the last 12 months. The pool of fans for both has dwindled in size.Source: franz12 / Shutterstock.com This a self-inflicted wound as the TSLA leader played chicken with legislators on social media and it landed him in court. As innovative as he is, Musk's shenanigans were jaw-dropping.The consequences hit TSLA stock hard. Year-to-date, it's down 33% while the S&P 500 is up almost 20%. The TSLA stock bulls are no longer buying the dips with conviction like the olden days.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Retail Stocks to Buy on the Dip On Thursday, a rumor broke out that Volkswagen CEO was looking to buy a stake in TSLA. This turned out to be fake news, but it helped some of the headline pop. And therein lies an opportunity as this is a trade-able event. TSLA Stock Pop's Thanks to RumorToday's thesis is that as bad as Tesla stock performance has been, the mere existence of the rumor places a bid below the stock. Simply stated, if Tesla stock falls low enough, someone will buy it.Consider the theoretical scenario where Tesla drops well below $200, there will be big money looking to buy the company. The hope exists now and where there is rumor this is truth in-the-making. The fact that Thursday's pop held suggests that there are believers still.The accomplishments of Elon Musk are undeniable. But he needs to hand TSLA over to more competent operators so they can take it to the next level. The least he could do is hire better help to do it on his watch.This is nothing against TSLA, in fact it's a testament to what they've accomplished so far and the potential that the company still has. In the right hands, Tesla could blossom into a formidable global competitor to the current major auto manufacturers.General Motors (NYSE:GM) and most other majors, are making a serious push into the electric market. They are on Tesla's heels, so the window of opportunity is closing. Being the first mover gave Tesla an advantage, but the longer they take to get their act together, the easier it will be for the majors to catch up and stifle them. Trade the TSLA Stock Rumor With CertaintyI am not a fan of buying the shares and hoping that Mr. Musk comes through. But I could take a bullish trade that requires no hopium. I can sell downside risk 30% below current price and generate income for what others fear.For example, I can sell the March 2020 Tesla $140 put and collect $9 to open. This way I don't even need a rally to profit. As long as Tesla stock stays above $140 between now and next march, I retain maximum games. Otherwise I own the shares and break even at $131.Alternatively and to limit the downside risk, I can sell a spread instead. This way the maximum exposure becomes finite and equal to the width of the spread minus what I collect to open it. Bottom Line on Tesla StockThis trade setup is not entirely dependent on the buyout rumors. TSLA stock has intrinsic value to count on. Even though they are still not profitable, the stock sells at only 1.8 times sales. From that perspective it's not bloated. Low rates for long also helps its operations remain well-funded.This strategy works well when volatility is high. And since the overall markets are still nervous about the Federal Reserve actions, geopolitical headline risk, and Tesla-specific uncertainties, the put premiums are higher than normal. They are ripe for selling.This wan, if and when the CBOE Volatility Index (VIX) reverts closer to normal levels near $13.5, this trade becomes profitable without any price movement at all. Nevertheless, these are uncertain times and I don't sell naked puts unless I am willing and able to own the shares. And I never risk more than I can afford to lose.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room for free here. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now The post Trade the TSLA Stock Rumor With Confidence appeared first on InvestorPlace.
China said on Friday it will impose retaliatory tariffs against about $75 billion worth of U.S. goods, putting as much as an extra 10% on top of existing rates in the dispute between the world's top two economies. The latest salvo from China comes after the United States unveiled tariffs on an additional $300 billion worth of Chinese goods, including consumer electronics, scheduled to go into effect in two stages on Sept. 1 and Dec. 15. China will impose additional tariffs of 5% or 10% on a total of 5,078 products originating from the United States including agricultural products such as soybeans, crude oil and small aircraft.
Morgan Stanley thinks several companies should benefit from a rise in the population of single women, as women are generally working and earning more.
On Thursday, James Anderson of Baillie Gifford did an interview with Manager Magazin. Anderson discussed why he thinks Tesla could work without Musk.