Thursday, 15 November, 2018

Musk hypes Tesla ute, says Model Y coming 2020

Tesla approves Model Y for production Tesla faces FBI probe over Model 3 numbers
Orlando Vargas | 27 October, 2018, 19:38

Shares of Tesla rose 4.5 to $329, extending their rally following bullish results on Wednesday.

Revenue more than doubled from previous year to $6.8 billion to easily top analyst estimates, just as the profit did.

Tesla has battled widespread scrutiny, following Musk's August 7 tweet that he was planning to take Tesla private and had "funding secured".

Hargreaves Lansdown analyst Nicholas Hyett said: "Production numbers earlier this month meant we already knew Tesla could churn out the cars, the question was whether it could it do it profitably, and even more importantly, could Musk wean the company off a constant flow of cash from investors?"

"It is the most encouraging sign of sustainable profitability that we've seen in three years", said Gene Munster, a managing partner at venture capital firm Loup Ventures. In addition to the net income, Tesla also reported $881 million of free cash flow in the quarter.

Musk set lofty goals and insisted on sticking to them but the company has not met its own targets, according to countless media reports.

"Q3 2018 was a truly historic quarter for Tesla", said the flamboyant Musk, who also heads SpaceX.

Twins Hiring Rocco Baldelli as Manager
Molitor was named American League Manager of the Year in 2017 and was sacked with two years remaining on his contract. The only year as a professional he spent apart from the Rays was 2009, when he played in 62 games for Boston.


Facebook now lets you attach songs to photos and videos
Users can pick from songs like " New Rules " by Dua Lipa, "Better" by Khalid, and " Girls Like You " by Maroon 5. At the moment, it's only available for a few songs, but Facebook claims it will add more over time.


CIA Director to brief Trump on Khashoggi
It is only recently that the government of Saudi Arabia has confirmed that Khashoggi was killed inside the consulate. But the heir apparent could also need to please Turkey , which has been leaking details about Khashoggi's murder.


Musk envisioned a day when Tesla owners would be able to make their autonomous cars part of a ride-sharing fleet run by the company.

"Assuming R&D spending is not delayed and Tesla is not forced to introduce a lower price (Model 3) prematurely to maintain volume, Tesla could be self-funded", Jefferies analysts noted in a client note.

Since Monday, the yield on the bond, which sports a 5.3 percent coupon, has dropped more than 90 basis points to 7.49 percent from 8.40 percent.

Tesla surprised the markets by reporting a third quarter profit of $311.5 million, compared with a loss of $619.4 million in the same period during 2017. Tesla is now building a factory in China, which will feature production lines for two models - likely the Model 3 and Model Y - to be sold in that country. Musk said in June at Tesla's annual shareholder meeting that the automaker would unveil the vehicle in March.

Other analysts believe that Tesla has indeed turned a corner and is on a growth path. This "creates a significant barrier for competition and ... should be a competitive advantage for TSLA over the long term", Ben Kallo, senior research analyst at Baird, wrote in a note using Tesla's stock ticker rather than its name. Reduces the discounted cash flow valuation of Tesla's shared mobility business to $71/share from $95/share previously, allowing for a slower ramp and increasing competition from peers.

Tesla, Inc shares were trading at $314.86 per share on Thursday afternoon, up $26.36 (+9.14%).

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