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Aug. 20, 2015, 7:47 AM
- Consumer Reports issues some details on its testing of the Tesla Motors (NASDAQ:TSLA) Model S P85D.
- Accident avoidance maneuver: The P85D impressed by making it through a test at a speed similar to a performance car.
- Acceleration: The model reached 60 mph in 3.5 seconds vs. the advertised 3.17 seconds. CR isn't quite convinced the new "Ludicrous" mode will drop the acceleration time down to 2.8 seconds.
- Braking: The P85D again tested at a level similar to a high-performance sports car instead of a luxury sedan.
- A full report will be issued by Consumer Reports on August 27.
Aug. 17, 2015, 9:58 AM
- Morgan Stanley's note on Tesla Motors (TSLA +3.8%) is short on delivery and earnings projections, but full of confidence over the capability of the company to leverage its leadership in autonomous technology and networked machine learnings over the long haul.
- The investment firm thinks Tesla will disclose a business plan in the next 12 to 18 months on how Tesla Mobility 1.0 (shared mobility) will be integrated into the Model 3.
- Over a million shares of Tesla have swapped hands in the first 20 minutes of trading with the MS note in the forefront.
- Previously: Tesla Motors higher after massive Morgan Stanley PT boost (Aug. 17 2015)
Aug. 17, 2015, 9:15 AM
Aug. 17, 2015, 7:16 AM
- Tesla Motors (NASDAQ:TSLA) is higher in early trading after receiving a large price target boost from Morgan Stanley.
- The investment firm pushes in with a PT hike to $465 from $280 to mark a new Street high from a major name.
- Tesla's expertise in autonomous technology and its ability to work out manufacturing inefficiencies set it up for share gains, reasons MS.
- TSLA +4.96% premarket to $255.20.
Aug. 14, 2015, 7:01 AM
Aug. 13, 2015, 10:18 AM
- Tesla Motors (NASDAQ:TSLA) is poised to announce a partnership with two dozen garages in Manhattan later today, tips the The New York Times.
- The initiative is aimed at making it easier for New Yorkers to own and charge Tesla EVs.
- The charging capacity at the NYC garages will add 58 miles of range per hour, faster than a home charging set-up - but slower than the highway superchargers.
- Shares of Tesla are up 2.42% to $243.93 after the company announced a well-anticipated secondary offering of $500M-$575M worth of shares.
- Previously: Tesla Motors sets $500M stock offering
Aug. 13, 2015, 7:16 AM
- Tesla Motors (NASDAQ:TSLA) announces a $500M stock offering. The company will also grant underwriters a 30-day option to buy an extra $75M.
- CEO Elon Musk says he will purchase $20M worth of Tesla stock himself.
- The company plans to use the funds to accelerate growth.
- TSLA +2.03% premarket to $243.01.
Aug. 10, 2015, 7:39 PM
- Tesla (NASDAQ:TSLA) is losing more than $4K on every Model S electric sedan it sells, using its reckoning of operating losses, and burned $359M in cash during Q2 in a bull market for luxury vehicles, according to a Reuters analysis.
- Noting that TSLA reports its finances in a different way from the Detroit automakers, Reuters says that using GAAP, the company's operating losses per vehicle have steadily widened to $14,758 in Q2 from $3,794 in the same quarter last year.
- TSLA has signaled capital spending will drop next year because it will not be spending on a major vehicle launch, but Barclays analyst Brian Johnson disagrees and says he expects TSLA's capex will rise in 2016 and 2017 as the company ramps up its battery factory and Model 3 development, adding "their small scale means the cash generation is not as great as they might have hoped for."
- TSLA is "going to be burning through cash for the next few quarters, the next couple of years - and that's what worries people," Dan Greenhaus, BTIG chief global strategist, tells CNBC.
Aug. 10, 2015, 8:14 AM
- Tesla Motors (NASDAQ:TSLA) adjusts its referral program in Virginia due to state laws.
- The automaker will offer a $2K discount to new Model S buyers up until October 31 - instead of splitting the amount between the owner making the referral and the new buyer.
- Tesla may have to adjust the policy in other states as well.
Aug. 7, 2015, 6:41 PM
- Tesla (NASDAQ:TSLA) was downgraded today to Sell from Hold with a $225 price target by S&P Capital IQ analyst Efraim Levy, who says he is "concerned about near-term margin pressure and cash flow needs," although he foresees rapid automotive profit growth through 2017.
- Levy reduces his 2015 earnings estimate by $1.12 to a loss of $0.67/share, and cuts 2016 EPS by $1.25 to $2.50.
- In its recent earnings call, TSLA "didn't quite say they would... need to issue additional equity, but there's the potential for additional equity" to fund its near-term capital needs, Levy tells Investor's Business Daily.
- TSLA fell 1.5% today and has shed 10% since reporting Q2 earnings after the close Wednesday.
Aug. 7, 2015, 2:46 AM
- Tesla (NASDAQ:TSLA) has released a clip of its Snakebot prototype - an autonomous car charger that's capable of plugging itself in.
- "The video is just an example of some of the cool stuff we're always working on behind the scenes," Tesla told CNBC, but wouldn't reveal when or if the prototype would be available soon for purchase.
- The device takes roughly 30 seconds to go from its upright position to connecting with the Model S.
Aug. 6, 2015, 9:15 AM
Aug. 6, 2015, 8:18 AM
- Cybersecurity researchers took control of a Tesla Motors (NASDAQ:TSLA) Model S vehicle remotely in the latest demonstration of vulnerabilities in the automobile industry.
- The hacking details will be revealed at a cybersecurity conference later this week, although Tesla has reportedly already issued a software patch to fix the exposure.
- Shares of Tesla are down 7.65% premarket to $249.50 following yesterday's Q2 earnings report which included a drop in 2015 delivery guidance.
- Previously: Hacking concerns take center stage in automobile industry (Jul. 31 2015)
- Previously: OnStar is on deck for hacking demo (Aug. 05 2015)
Aug. 5, 2015, 4:44 PM
- Tesla Motors (NASDAQ:TSLA) announces it delivered 11,532 vehicles in Q2 vs. the pre-announced level of 11,507. Annual guidance is now for 50K-55K units delivered this year, a drop from the prior view for a straight 55K.
- The company says it produced 12,807 vehicles in the quarter.
- Q2 revenue included $27M of regulatory credit funds ($14M ZEV sales).
- Q2 non-GAAP gross margin was 23.4% to miss guidance as higher manufacturing and part costs factored in.
- Q3 gross margin is expected to be similar.
- Annual capex spending guidance is kept level at $1.5B.
- A "small" number of Model X deliveries are expected in Q3. There's a note on the same assembly line being used for the Model X and Model S that could raise some questions.
- The Model S average selling price is expected to drop about 100 bps in Q3 on a product mix and F/X conversions.
- Tesla Energy is expected to ramp up in Q4. Details expected on the CC.
- The conference call is scheduled for 5:30 PM ET (webcast).
- Tesla shareholder letter (.pdf)
- Previously: Tesla beats by $0.12, beats on revenue
- TSLA -6.4% after hours to $253.01.
Aug. 5, 2015, 4:35 PM
- Tesla (NASDAQ:TSLA): Q2 EPS of -$0.48 beats by $0.12.
- Revenue of $1.19B (+38.8% Y/Y) beats by $20M.
- Shares -7.6%.
Jul. 31, 2015, 1:50 PM
- The NHTSA is investigating if other automakers are at risk of hacking attacks after 1.4M Fiat Chrysler automobiles were recalled last week due to an exposure highlighted in Wired magazine.
- The regulator plans to focus on if wireless components supplied to Fiat are also used in other vehicles on the road in a way that isn't fully secure from remote access.
- The U.S. Copyright Office is also a major player in the hacking drama. This fall the government body will rule on if third-party researchers can access components and software to check for vulnerabilities. The open source vs. proprietary debate will be familiar to tech investors.
- Previously: Automakers start to tackle hacking issue (Jul. 23 2015)
- Previously: More security flaws seen in connected vehicles (Jul. 31 2015)
- Previously: Hacking demo leads to recall of 1.4M Fiat Chrysler vehicles (Jul. 24 2015)
- Automaker stocks: GM, F, TM, HMC, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTCPK:MMTOF, TTM, OTCPK:SZKMY, OTCPK:FUJHY, OTCPK:GELYF, FCAU, OTCPK:NSANY, OTCPK:DDAIF, OTCPK:MZDAY, TSLA.
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