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Tesla Motors (TSLA)

  • Yesterday, 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
  • 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.
  • Tue, Jan. 13, 5:42 PM
  • Tue, Jan. 13, 5:14 PM
    • Tesla Motors (NASDAQ:TSLA) CEO Elon Musk is making a highly-anticipated speech at the Detroit Auto Show in connection with the Automotive News World Congress.
    • The headline revelation so far from Musk is that the EV automaker's pace of sales in China declined in Q4.
    • He blames consumer misperceptions in the nation on the charging process for the fall.
    • Other significant disclosures from the Tesla chief so far include a prediction that the company will reach a run rate of a few million cars by 2025.
    • Musk also left open the possibility that Tesla could use franchised dealerships in the future.
    • A line for bulls to latch onto: "We're going to keep driving our volumes higher and higher."
    • Detroit Free Press live blog
    • Previously: Highlights from the Detroit Auto Show (Jan. 12)
    • TSLA -6.2% after-hours to $191.50.
  • Fri, Jan. 2, 11:14 AM
    • Tesla Motors (NASDAQ:TSLA) is down 3.34% on brisk volume to take shares to a two-week low.
    • There was worrisome news from China this week for Tesla. An extension of EV subsidies impacts the EV automaker with domestic automakers getting a lift and warning signs on demand also emerged.
    • The debate on the impact of falling oil prices also continues to swirl around Tesla with the national average for gas prices down to $2.23.
    • Though market data shows that sales of EVs have fallen off relative to the industry average over the last few months amid oil's slide, there's plenty of analysis out there indicating the $70K Model S is more resilient to the $2 gas overhang than cheaper EVs.
  • Dec. 17, 2014, 8:32 AM
    • Morgan Stanley is out with new long-term production estimates on Tesla Motors (NASDAQ:TSLA).
    • Analyst Adam Jonas lowers the 2018 forecast for Model 3 volume to ~40K.
    • The outlook for 2020 deliveries is dropped to 297K vs. Tesla's target of 500K.
    • The lowered expectations from MS on production are counterbalanced to a degree by the higher average transaction price it sees as the sales mix stays shifted toward the luxury segment.
    • The price target on Overweight-rated TSLA is taken to $290 from $320 by MS.
    • Tesla's dip below $200 drew out 187 comments yesterday on SA from bulls and bears
    • TSLA -1.8% premarket to $194.20.
  • Dec. 12, 2014, 8:53 AM
    • Veronica Wu has been with Tesla (NASDAQ:TSLA) for over a year, but will leave the company in the coming days, reports the WSJ, and confirmed by Tesla.
    • Tom Zhu - currently in charge of Tesla's supercharging network in China - will assume responsibility for operational leadership in the country, says the company.
    • Wu's exit comes shortly after the resignation of Tesla's China chief of communications, Peggy Yang.
    • Shares -1.8% premarket
  • Dec. 1, 2014, 11:45 AM
    • Tesla Motors (TSLA -5.6%) slides to the $230 level as lower oil prices continue to be a factor for the EV automaker.
    • There's also a probing article out from SA contributor Alberto Zaragoza Comendador.
    • After Comendador asks how Tesla earned $204M in Europe last quarter from selling 1,061 Model S cars, a lively round of number-crunching breaks out in the comment stream.
  • Nov. 28, 2014, 11:05 AM
    • Automobile stocks are higher as a group after oil prices slide.
    • General Motors (NYSE:GM) is up 2.3% and Toyota is 1.1% higher, while shares of Ford (NYSE:F) are just poking out a modest 0.1% gain.
    • There's some concerns that Ford's big bet on aluminum loses some of its relevance if gas prices shoot lower.
    • Daimler (OTCPK:DDAIF) and BMW (OTCPK:BAMXY) are both beating broad market averages with +1% gains.
    • EV automaker Tesla Motors (NASDAQ:TSLA) is down 2.1% on the day.
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Company Description
Tesla Motors,inc., designs, develops, manufactures and sells high-performance fully electric vehicles and advanced electric vehicle powertrain components.