Tesla earnings: Model 3 production, demand under the microscope
Through delays, recalls, and wildly optimistic projections, Wall Street has stuck with Tesla Inc. shares, which have gained three times as much as the benchmark this year. Tesla TSLA, +3.58% is expected to report a third-quarter loss after the bell Wednesday, but that too is likely to be brushed off.
All eyes will be on whether the company can make a good case that it has worked out all the kinks with the production of the Model 3, its first electric car aimed at the masses.
Moreover, if Tesla is able to show that demand for the Model 3 continues to be strong and that the market for its luxury vehicles is not reaching saturation, investors will look past the quarterly numbers, said Bill Selesky, an analyst with Argus Research.
Tesla Will Have Much To Explain When It Reports Quarterly Results
Tesla (TSLA) is set to report quarterly results after the market close Wednesday, with Wall Street analysts looking for answers on several topics of concern. Perhaps the biggest question concerns the production ramp up of its new car, the Model 3 — Tesla‘s first car targeted at a mass audience. The Model 3 went into production in August but missed third-quarter production targets by a wide margin.
Tesla said it rolled out 220 Model 3 sedans in the third quarter but had planned to produce 1,500 in September alone. “Not only does the miss undermine the credibility of future Model 3 targets, but it increases the near-term risks,” wrote UBS analyst Colin Langan in a research note to clients on Monday.
Tesla’s Trampled Stock Shows Bullish Signs As Earnings Near
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Today's Trade of the Day | 11-1-17
COF-Capital One pausing after solid bullish momentum that has now established itself as order flow. With the FOMC announcement today, this stock has potential to approach the $100 level. Our first target is $96. Planning a $92.75 buy-stop to enter the swing trade, using a $91.50 stop loss. If the market rallies I plan to hold for the $100 target.
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Stocks to Trade | Wednesday Edition 11-1-17
Bullish Momentum: MU, WDC, YNDX, ETN
Bearish Momentum: qcom, aaoi, csx, omc
Bullish Order Flow: MU, PYPL, AABA, BABA, CRM, NVDA, AAPL, MPC, LRCX, AMAT, XLNX, Q, MAR, VLO, WMT, MCD, UNH, HD, FB, AMTD, V, MA, DLTR, COF, HON, VFC, ADBE, CAT, ADP, JPM, MSFT
Bearish Order Flow: aaoi, agn, omc, aap, celg, wba, cvs, cah
Double Normal Volume: QCOM, MRK, MYL, CELG, SHOP, K, FSLR, LEN, MA, TMUS, EXPE, TRIP, EA, CAH, AET
Inside Days: mrk, csco, cvs, abbv, mo, jnpr, hbi, hal cop, wmt, low, luv, dhi, nem, gps, bidu, kss, esrx, amzn, utx, momo, aig, hd, amgn, ba, adbe, ccl, htz, cost, urbn
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