S&P 500 climbs as earnings season heats up ahead of Netflix, Tesla earnings
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Tesla (TSLA) begins sales of EVs in Malaysia
July 21, 2023 1:42 PM EDTTesla (NASDAQ: TSLA) officially launch sales of their electric vehicles in Malaysia this week, marking another milestone in the automaker's ongoing efforts to broaden its global presence.
Over the years, the EV giant has dedicated itself to expanding its sales to new markets,... More
Tesla (TSLA) in 'early discussions with a major OEM' to license full self-driving software
July 20, 2023 3:00 PM EDTElectric vehicle giant, Tesla (NASDAQ: TSLA) held their 2Q earnings call on Wednesday where CEO Elon Musk spoke about the direction of the company, and confirmed that the Electric automaker is in early discussions to license its Full Self-Driving software to a major automaker.
Were not... More
Tesla (TSLA) recalls 15K Model S and X EVs for seatbelt issues
July 20, 2023 1:28 PM EDTOver 15,000 Model S sedans and Model X SUVs from the 2021 through 2023 model years are being recalled by Tesla (NASDAQ: TSLA) due to a potential issue with their front seat belts, which may lead to detachment. This poses a significant safety concern as occupants could be exposed to an increased risk of injury in the event of a crash.
The National Highway Traffic Safety... More
Musk talks price cuts, FSD and robotaxis on Tesla (TSLA) earnings call
July 20, 2023 9:39 AM EDTTesla (NASDAQ: TSLA) held its Q2 earnings call after market closed Wednesday. According to the release, the electric vehicle makers profits grew 20% in the quarter to $0.91 per share, coming in ahead of the streets estimate of $0.79. Revenue for the quarter increased 47% to $24.93 billion, versus the consensus estimate of $24.29 billion.
Tesla CEO Elon Musk joined the call to announce the companys record vehicle production and deliveries and record revenue during Q2. These results come after the companys Model Y became the best-selling vehicle of any kind globally in Q1,... More
JPMorgan Stays Underweight on Tesla (TSLA), PT $120, 'lowering our earnings estimates for Tesla shares today and suspect the Street will as well'
July 20, 2023 8:16 AM EDTJPMorgan analyst Ryan Brinkman reiterated an Underweight rating and $120.00 price target on Tesla (NASDAQ: TSLA)
The analyst comments "We are lowering our earnings estimates for Tesla shares todayand suspect the Street will as wellafter the companys fourth straight operating profit miss vs. Bloomberg consensus, brought about again by the continued trading of profits for sales. Automotive adjusted gross margin excluding the sale of regulatory credits remains at the front and center of investor attention after this key performance metric shocked investors last quarter by plummeting -1,100 bps y/y from a then... More
Tesla (TSLA) to expand German EV plant near Berlin, aims for Europe’s largest vehicle factory
July 20, 2023 8:07 AM EDTTesla (NASDAQ: TSLA) aims to boost the production capacity of its assembly plant located outside Berlin to an impressive one million electric vehicles annually. This strategic move positions the company to become the largest car plant in Europe, coinciding with a period in which German automakers are facing challenges in keeping up with the transition to electric vehicles.
On Wednesday, thousands of pages of Tesla's expansion plans were made public, and if these plans receive approval from local officials, the production output of the plant will surpass that of Volkswagen's... More
Netflix (NFLX) PT Raised to $400 at Rosenblatt, 'expectations need to be kept within bounds'
July 20, 2023 7:07 AM EDTRosenblatt analyst Barton Crockett raised the price target on Netflix (NASDAQ: NFLX) to $400.00 (from $358.00) while maintaining a Neutral rating.
The analyst comments "Improved operating margin and repurchase push our price target up 12% to $400, within 10% of the after-hours down 8%. Netflix is a solid company,... More
Truist Securities on Netflix (NFLX): 'Bull case likely unchanged'
July 20, 2023 6:38 AM EDTTruist Securities analyst Matthew Thornton reiterated a Hold rating and $339.00 price target on Netflix (NASDAQ: NFLX)
The analyst comments "S: Members ahead driven by password sharing (greater/earlier impact, not sure changes ultimate benefit/run-rate), undermined by slightly disappointing ARPU (discussed below), with full-year margin... More
Netflix (NFLX) PT Raised to $505 at JPMorgan
July 20, 2023 6:32 AM EDTJPMorgan analyst Doug Anmuth raised the price target on Netflix (NASDAQ: NFLX) to $505.00 (from $495.00) while maintaining a Overweight rating.
The analyst comments "Coming out of 2Q earnings theres no change to our positive thesis on NFLX, and we would buy the pullback in shares. Yes, the company is monetizing Paid Sharing a bit slower than we expected w/only slight revenue... More
Carvana (CVNA) PT Raised to $55 at Deutsche Bank, 'we believe management is taking the appropriate measures'
July 20, 2023 6:25 AM EDTDeutsche Bank analyst Emmanuel Rosner raised the price target on Carvana (NYSE: CVNA) to $55.00 (from $11.00) while maintaining a Hold rating.
The analyst comments "Looking ahead, management is guiding for retail units to remain roughly flat QoQ enabling yet another Ebitda positive quarter in 3Q, with the... More
Goldman Sachs on Netflix (NFLX): 'We expect the market to have a muted to positive reaction'
July 19, 2023 4:36 PM EDTGoldman Sachs analyst Eric Sheridan reiterated a Neutral rating and $400.00 price target on Netflix (NASDAQ: NFLX).
The analyst comments "We expect the market to have a muted to positive reaction to Netflixs Q2 23 earnings report on the back of strong result in terms of both subscriber net addition performance (driven by a mix of subscriber password initiatives and... More
