Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
Is clock ticking for this Cinderella stock?
Investors continued to punish Tesla shares Thursday, with several analysts cutting their price targets, a day after the electric car maker posted quarterly earnings.
The company's stock dropped almost 8 percent Thursday, continuing its tumble from Wednesday's after-hours trading.
"For a while, the stock has been way ahead of itself," Cole Cox of Long Lomborg Asset Management told CNBC. "Three years from now, I wouldn't be surprised if it's lower than it is at right now today as valuations and economic reality of this business catch up with the market cap."
So far, at least two analysts have cut their price targets on the electric car maker. UBS and JPMorgan slashed their target price on the company to $200 from $230, and $163 from $164, respectively. Both brokerages have a "neutral" rating on Tesla.
Goldman kept its "neutral" rating on the stock and its price target of $200, saying it is still "meaningfully below" analyst consensus in terms of earnings per share this year through 2016.
On Wednesday, the company posted earnings of 12 cents a share, excluding one-time items, on sales of $713 million. Analysts had expected the company to report earnings of 10 cents a share on $699 million in revenue, according to a consensus estimate from Thomson Reuters.
Tesla posted a higher-than-expected first-quarter operating profit and said its operating automotive gross margins in the current quarter would increase slightly. S&P Capital IQ analyst Efraim Levy called the outlook a disappointment, saying investors had hoped for something better.
"Unfortunately the stock has half the market cap of General Motors and they need to become a mass-market company to justify its valuation, " said John Thompson, CEO of Vilas Capital, in a CNBC interview.
Meanwhile, the electric car maker said it produced 7,535 Model S vehicles in the first quarter. For the second quarter, the company said it expects to deliver 7,500 units.
Tesla said its entry into China has been "greeted enthusiastically," as it delivered its first Model S vehicles in Beijing and Shanghai. The company also announced plans to expand in China "as fast as possible."
On the earnings call, the company reiterated its plan to build in China in the next three to four years.
In addition, Tesla said it plans to invest as much as $850 million in capital expenditures this year for increased production capacity, growth in stores, service center and the start of its lithium-ion battery plant "Gigafactory" construction.
"With all these initiatives, we expect to be slightly free cash flow negative in 2014, before considering the equity required for leasing," the company said in a press release.
In the past year, Tesla stock has risen dramatically, rising more than 250 percent in the past year as investors place bets on continued growth of the company's electric car sales.
Three top officials at the Federal Trade Commission recently took the unusual step of
Governments in Arizona, Maryland, New Jersey, Texas and Virginia have passed laws banning Tesla's unique model of selling its cars directly to customers instead of working through the franchised dealerships ubiquitous in the industry. Tesla CEO Elon Musk has stated he does not want to participate in the dealer system, and many dealers see Tesla's direct sales approach as a threat to their existence.
Commissioners rarely speak out on issues in this way, and the opinion is not the agency's official position. The FTC has not taken any action in the case.
—CNBC with Reuters