Aug. 6, 2014, 12:28 PM
- Pacific Crest analyst Brad Erickson thinks Tesla Motors (TSLA +4%) is "attractively valued" when looking at the EV's growth trajectory out to 2016.
- The investment firm is sticking to a shorter time-frame when making its Tesla analysis, which takes some execution risk off the table with the Gigafactory and Model III launch.
- Optimism over the Model X will continue to rise, forecasts Erickson.
- A price target of $316 on TSLA by Pac Crest factors in a valuation of 4X EV/2016 revenue.
Aug. 6, 2014, 3:07 AM
- Tesla Motors (NASDAQ:TSLA) says that it has "completely and amicably" resolved its trademark dispute with Chinese businessman Zhan Baosheng, paving the way for its expansion into the world's largest auto market.
- "Mr. Zhan has agreed to have the Chinese authorities complete the process of canceling the Tesla trademarks that he had registered or applied for, at no cost to Tesla," says the electric carmaker.
- Zhan registered the "Tesla" trademark and certain domain names before the automaker came to China. Tesla said in January that the issue had been resolved, but last month, Zhan moved to bring the company to court.
Jul. 31, 2014, 4:19 PM
- Tesla Motors (NASDAQ:TSLA) beats estimates in Q2 and delivers some re-assuring production guidance.
- The EV automaker had 7,579 delivers in Q2 vs. 7,546 consensus.
- Revenue for the quarter included $23M from Daimler and Toyota for powertrain purchases.
- The gross margin rate of 26.8% in Q2 is in-line with the forecast of analysts and leaves Tesla with a little bit of catching up to do in 2H to meet its 28% target for the year.
- Production guidance for Q3 is for 7,800 Model S deliveries. The mark is below expectations with the company citing a two-week production shutdown at its Fremont factory as the reason for the anticipated shortfall.
- Tesla says it expects a delivery rate of over 100K unit by the end of next year if there are no serious macroeconomic calamities.
- Ground has broken in Nevada on a "potential" Gigafactory site.
- Tesla Motor letter to shareholders (.pdf)
- TSLA +2.1% AH to $228.01.
Jul. 31, 2014, 4:08 PM
Jul. 31, 2014, 1:05 PM
- Tesla Motors (TSLA -1.3%) reports after the bell with the Street looking for EPS of $0.04 and revenue of $802M. The crowdsourced forecast at Estimize.com is for a healthy EPS beat ($0.12) and revenue miss ($799M).
- The company's average transaction price ($106K in Q1), view on meeting its annual production target (35K), and gross margin rate (28% target for FY14) will be closely watched - while anything positive or negative on the company's Gigafactory and Model X production timetable could send shares into a flurry of activity.
- Sales in China started during the quarter and could top 1K, according to Barclays.
- Gigadreams: California, Texas, Nevada, New Mexico, and Arizona are all in the running to be the location for the Gigafactory. Tucson, Arizona isn't considered the front-runner to land the facility, but deserves high marks for creativity by sending Tesla execs a pre-approved building permit.
- Options trading on Tesla is factoring in a 7.5% post-earnings move which is a low level of volatility for the stock historically.
Jul. 31, 2014, 7:01 AM
- Tesla Motors (NASDAQ:TSLA) confirms it struck a deal with Panasonic (OTCPK:PCRFY) on the construction of a battery plant in the U.S.
- Panasonic will help manufacture cylindrical lithium-ion cells for Tesla vehicles.
- The Gigafactory plant is expected to generate 35GWh of cells and 50 GWh of packs per year by 2020.
- TSLA -0.5% premarket
Jul. 28, 2014, 1:25 PM| 34 Comments
Jul. 28, 2014, 11:07 AM
- Tesla Motors (TSLA -0.7%) has delivered the right-hand Model S vehicles to customers in Hong Kong, according to a company spokesperson. The first right-hand drive versions of the Model S were delivered in the U.K. last month.
- The company also announced the opening of two Supercharger stations in Hong Kong.
- Baird is cautious about the EV automaker's upcoming Q3 earnings release, but thinks 2H sets up well for Tesla with major catalysts in place.
Jul. 19, 2014, 8:25 AM
- The derivatives research team at UBS lists six companies on which investors should not use an option strategy, as it expects near-term catalysts to drive the stocks higher.
- Abercrombie & Fitch (NYSE:ANF): UBS cites continuing share repurchases, leaner inventory and improving fashion offerings as possible catalysts.
- Air Products (NYSE:APD): Don't overwrite or hedge the stock for 60 days, UBS says, as it sees activist investors becoming more aggressive in the name over the next two months.
- PetSmart (NASDAQ:PETM): Activist pressure to unlock value has stepped up, and the company is talking with Wall Street banks for possible strategies.
- Tesla (NASDAQ:TSLA): The UBS team says the possibility of a Gigafactory announcement could boost the stock, which has long been volatile.
- Teva Pharma (NYSE:TEVA): It is well positioned to take advantage of the high number of branded drugs going off-patent in coming years, and there's no way UBS is hedging the stock with M&A rampant in the sector.
- Weyerhaeuser (NYSE:WY): UBS expects volatility after it completes a corporate structural change, and an expected capital allocation announcement could prove to be a catalyst.
Jul. 18, 2014, 2:43 PM
- Buried inside an economic report from the Richmond Federal Reserve this week is an interesting tidbit on the auto industry.
- As part of its scan of the economic horizon for the Beige Book, the bank noted the massive wave of automobile industry recalls has only had a "slight adverse" impact on sales. Customer traffic was still up and new car sales strong on solid pricing.
- The read from Richmond is consistent with recent U.S. sales reports from major automakers, although with a slight disconnect existing between a "sale" and a "delivery" in the industry the confirmation is noteworthy.
- Chaos theory: Some industry analysts think recalls can actually spur sales as safety is teed up as a consumer issue and older cars replaced.
- Related auto stocks: GM, F, TM, OTCPK:FIATY, HMC, OTCPK:NSANY, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, TTM, TSLA, AN, KMX, SONC.
Jul. 16, 2014, 7:09 AM
Jul. 14, 2014, 4:02 PM
- Tesla Motors (NASDAQ:TSLA) will be allowed to sell vehicles directly to the public in Pennsylvania after Governor Tom Corbett signs legislation covering the issue.
- The EV automaker has plans for five dealerships in the state.
- A grass roots campaign in China to build a charging network from Beijing to Guangzhou has drawn notice. Though building the network isn't on the economical side, the response on Chinese social media networks has been impressive.
- Shares of TSLA rose 3.9% for the day.
Jul. 10, 2014, 2:02 PM
- Tesla Motors (TSLA -1.1%) says it passed the charging milestone of 1GWh in a single month during June.
- The EV automaker figures that to be the equivalent offset of 168K gallons of gas saved.
- Tesla forecasts that by end of 2015 at least 98% of the U.S. population will be within 100 miles of a charging station.
Jul. 10, 2014, 11:09 AM
- China decides to waive a 10% tax on new electric car purchases as part of its support for the industry.
- The tax waiver will run until the end of 2017 and could help EV sellers in the region such as Tesla Motors (TSLA -1.3%), Volkswagen (VLKAY), and BMW (BAMXY).
- Shares of Chinese EV automaker BYD Company rose in Hong Kong trading off the development.
Jul. 8, 2014, 10:31 AM
- Tesla Motors (TSLA -3%) is being taken to court by businessman Zhan Baosheng over the use of the name Tesla in China.
- The trademark case will be heard by the Beijing Third Intermediate Court in early August at which point it could rule on Tesla's ability to sell and market in the nation, although a settlement before then is seen as likely.
- What to watch: Tesla's performance in China is at the very heart of the bull vs. bear debate on the EV automaker. Though early sales results will be widely dissected, it will be Tesla's ability to find a mass market niche that could be the long-term story.
Jul. 7, 2014, 2:33 PM
- Though there's plenty of headlines about a high-profile crash of a Tesla Model S today, the real story might be over at Barclays Capital.
- Notable Calls tips that Barclays sees Tesla Q2 deliveries falling below expectations.
- The soft reads in a couple of different markets for the EV automaker has increased the importance of China, notes Barclays.
- Shares of Tesla Motors (TSLA -3.7%) are at their session lows.
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