Tue, Apr. 14, 9:41 AM
- Morgan Stanley is out with new a set of estimates on Tesla Motors (NASDAQ:TSLA).
- The investment firm sees Q1 EPS of -$0.77 vs. -$0.48 consensus.
- FY15 and FY16 EPS estimates are set by MS at -$2.30 and $1.40 vs. consensus $0.58 and $3.99, respectively.
- Morgan sees Tesla delivering 51K vehicles this year to miss the 55K units it guided to deliver.
- Most Model X deliveries will be in Q4, predicts analyst Adam Jonas.
- There's been some hyperbole out of MS on Tesla in the past which increases the drama of extending out the profitability and Model X forecasts.
- Shares of Tesla are down 0.71% to $208.30 in early trading.
Mon, Apr. 6, 8:44 AM
- Shares of Tesla Motors (NASDAQ:TSLA) are getting a lift in early action from the automaker's Q1 delivery update released last Friday.
- The company previously set guidance at 55K units for the year with 60% of the deliveries targeted for the second half.
- Bulls are pointing to the 55% Y/Y growth, while bears are focusing on the Q/Q delivery growth rate and margins.
- Tesla didn't issue any color on if it was impacted by the West Coast port slowdown during the quarter.
- TSLA +4.14% premarket to $198.90.
Mon, Mar. 30, 12:45 PM
- Elon Musk says Tesla Motors (NASDAQ:TSLA) will unveil a "major" new non-automotive product line during a presentation at the Hawthorne Design Studio on April 30.
- The exec also tweeted out a quick note of confidence on the EV automaker's prospects in China.
- Product-guessing should keep Tesla watchers busy for the bulk of April.
- Shares of Tesla moved higher off the development and are now +2.3% for the day after sitting in negative territory.
Wed, Mar. 25, 8:55 AM
- Tesla Motors (NASDAQ:TSLA) is cut to an Underperform rating by CLSA.
- Snippets from the analyst note are below.
- "Based on discussions with the company and initial margins for the Model S, we believe Model X margins in 2H15 will be more dilutive than previously thought."
- "We believe the stock could continue to underperform this year, as investors debate Tesla's demand and earnings trajectory."
- "Longer term, though, we continue to believe the stock is attractive."
- CLSA lowers it price target to $220 from $275.
- TSLA -1.69% premarket to $198.32.
Thu, Mar. 19, 12:30 PM
- A Tesla Motors (NASDAQ:TSLA) conference call today focused heavily on software upgrades and self-driving car features.
- The company announced a new over-the-air software update will include a range assurance alert to guide Model S drivers when they need to recharge.
- The feature will make it nearly impossible to run out of range, promises CEO Elon Musk.
- The CEO calls driving range of 250 miles to 300 miles the "sweet spot" for the EV industry.
- A trip planner will also be an add-on.
- The upgrade will unveil Tesla's automatic emerging braking feature which will be included in all future models.
- Blind spot and collision warnings are part of the new platform as well as auto steering.
- The EV automaker shows it's near the lead in the autonomous driving car race with a new "summon" feature that will bring your car to you. Self-parking is also an option.
- The Model X will arrive this summer, says Musk.
- No company financial information was discussed during the call.
- Shares of Tesla are down 1.23% to $198.45 and sit on their lows.
Tue, Mar. 10, 12:48 PM
- Tesla Motors (TSLA +1.2%) is higher on the day on solid volume after starting off in negative territory.
- A Tesla presentation at the ROTH Conference in California on the Gigafactory is shifting some focus away from the automaker's struggles in China.
- The early part of the presentation has covered the potential of the Gigafactory without going into specifics.
- Last week, CEO Elon Musk tweeted a link to a picture of the Nevada site in an attempt to show construction was firmly on target.
- Shares of Tesla are down 13.3% YTD.
- ROTH Conference webcast
Fri, Mar. 6, 3:59 PM
- Tesla (TSLA -3.4%) says construction of its Nevada Gigafactory remains on schedule despite a report from a local newspaper that said the project was delayed.
- The International Brotherhood of Electrical Workers union had posted on a jobs board that the construction project had been cut back 80%, according to a report in the Reno Gazette-Journal.
- The plant, which may cost as much as $5B, is designed to more than double the world’s supply of lithium-ion batteries, driving down costs and making electric cars more affordable.
Mon, Mar. 2, 10:49 AM
- Tesla Motors (NASDAQ:TSLA) is down 3.17% to $196.88 on above-average volume.
- The last few times Tesla shares have slid under the $200 mark there has been enough support to lend a relatively quick recovery, although Tesla skeptics think this time around is different.
- The release of Tesla's 10-K late last week has been the biggest story over the last few days.
- 10K-sleuthing: Barclays noted earlier today that Tesla is now building cars beyond the number of orders it has piled up and that gigafactory costs are only in their infancy. The WSJ dug out that Tesla staffing went up 73% Y/Y to 10,161 and the R&D spend was up 100.3%. On a per-vehicle basis, advertising and marketing costs rose 273% to $1,493. Some hints on the Model X were viewed as favorable.
- Tesla Annual Report
Thu, Feb. 26, 11:33 AM
- Tesla Motors (NASDAQ:TSLA) is up over 3% on a volume spike off a shaky rumor linking Apple to the EV automaker.
- It's possible that algorithm trading kicked in when a Chinese site titled an article "Apple's acquisition of Tesla" and ran loose with some speculation.
- Here's the Chinese site which kicked off the buzz and the Google Translate version which doesn't show much fruit on the Apple tree.
Mon, Feb. 23, 10:04 AM
- Bank of America Merrill Lynch thinks Tesla Motors (NASDAQ:TSLA) won't be able to divert the attention of investors away from quarterly numbers to focus on long-term potential for much longer.
- In a biting note, analyst John Lovallo calls into question the thesis that Tesla is a production-constrained company without any demand worries.
- The investment firm and Lovallo have rode an Underperform rating on Tesla since 2013 when shares traded in the $30s.
- Lovallo and Morgan Stanley's Adam Jonas are at polar opposites in the Tesla debate.(See: Tesla Motors: Model X out in the wild, another bull call from MS)
- BAML chiseled its price target on the EV automaker down to $65 from $70.
- Shares of Tesla are -1.35% to $214.39 on strong volume in early trading.
Thu, Feb. 12, 9:15 AM| 5 Comments
Thu, Feb. 12, 8:14 AM
- Tesla Motors (NASDAQ:TSLA) CEO Elon Musk indicated during the firm's conference call last night that the Model 3 should be in production by the second half of 2017.
- The EV automaker won't go "super crazy" with the mass-market model, according to Musk.
- A lot of time on the call was spent defusing the blown-up concerns on the slow start in China (somebody is losing their job) and restating his confidence on Tesla's profitability (the numbers work out).
- The forecast for 55K vehicles (Model S and X) delivered in 2015 appears to be a rather loose target with a revision up or down likely.
- Musk also went into SpaceX-Musk mode with a tease of a secret weapon on the demand side. "It could be pretty interesting," he said with no elaboration.
- Look for a lot of capex spending out of Tesla and very little marketing in 2015.
- Earnings call transcript
- Previously: Tesla misses by $0.44, misses on revenue (Feb. 11 2015)
- Previously: Tesla's Q4 hurt by delayed deliveries; strong 2015 growth expected (Feb. 11 2015)
- TSLA -7.77% premarket to $196.27.
Wed, Feb. 11, 5:39 PM
- Tesla Motors (NASDAQ:TSLA) announces it delivered 9,834 vehicles in Q4. 11,627 vehicles were produced, leading the company to hit a 2014 production target of 35K Model S units.
- Q4 results were hurt by delayed Model S P85D deliveries caused by "a combination of customers being on vacation, severe winter weather and shipping problems." The company also blames "one-time manufacturing inefficiencies related to the introduction of P85D and Autopilot functionality, and the impact of the strong dollar."
- Tesla expects to ship 55K Model S and X units in 2015, yielding more than a 70% Y/Y increase in deliveries. 40% of the deliveries are expected in the first half of the year.
- Q4 non-GAAP gross margin was 26.7% vs. 23.0% in Q3 and 25.2% a year ago. Automotive gross margin was 22%. Operating expenses rose 15% from Q3 to $297M.
- Q1 production is only expected to be at 10K vehicles, and deliveries at 9.5K (+47% Y/Y). Automotive gross margin is expected to be at 26%, and operating expenses are expected to rise 12%-15% from Q4.
- Tesla took in $42M from powertrain sales during Q4 and $86M in regulatory credits. The company entered 2015 with over 10K Model S orders and nearly 20K Model X reservations.
- A conference call is scheduled for 7:30 PM ET (webcast).
- Tesla shareholder letter (.pdf)
- TSLA -2.4% after hours.
- Previously: Tesla misses by $0.44, misses on revenue
Fri, Feb. 6, 3:47 PM
- Tesla's (TSLA -1.8%) stock price target is lowered to $200 from $220 at Barclays, which explains that its fundamental difference with TSLA bulls lies around the company's ability to become a successful mass-market OEM.
- While Barclays says the bulls would argue that TSLA will be the next Ford, it sees many challenges ahead for the company; upon revisiting its margin and delivery estimates, the firm says it is reminded again that "crossing that chasm is harder than it looks, especially in a new era of low oil prices."
- The firm warns that while TSLA eventually could reach double-digit operating margins, it thinks Wall Street may be underappreciating that margins will be suppressed at least through the end of the decade as TSLA increases R&D and SG&A investment to support its growth.
Wed, Jan. 14, 9:17 AM
Wed, Jan. 14, 8:34 AM
- Tesla Motors (NASDAQ:TSLA) trades lower following Elon Musk's Detroit Auto Show talk as investors hone in on the pushed-out production timetable.
- The EV automaker could introduce the Model 3 by 2017, but high-volume production on the car appears to be further down the road.
- Musk sees a run-rate of a few million cars by 2025 and profits for the company by 2020.
- There's a dose of reality on the costs of the Gigfactory as well. The state of Nevada is in for a "few" hundred million - not the $1.5B which has been bandied around.
- Picking fights? Musk on Toyota's fuel-cell vehicles initiative: "If you're gonna pick an energy storage system, hydrogen is a dumb one."
- Reaction: Baird calls the slide in Tesla shares a knee-jerk reaction and thinks investors should buy at current levels.
- The investment firm has been in a solid defensive stance all week, titling a report on the GM electric Bolt development "I've Always Wanted a Chevy? We Think Not."
- TSLA -8.9% premarket to $186.05 vs. the consensus analyst PT of $273.08.
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