In advance of Amazon's earnings report on Thursday, Craig Johnson says the stock chart is pointing to big gains. Mark Tepper also likes the stock.Trading Nationread more
The IMF trims its economic growth forecast again as the U.S.-China trade war continues, Brexit worries linger and inflation remains muted.Economyread more
Citigroup thinks Tesla investors hoping for a post-earnings rally later this week should scrutinize a pair of related financial metrics.Investingread more
Olive branches were extended from both China and the U.S. as the two nations are set to restart face-to-face trade negotiations after a monthlong truce.Marketsread more
Coca-Cola topped Wall Street's expectations for earnings and revenue.Food & Beverageread more
New disclosures show Facebook and Amazon each spent more than $4 million on lobbying activity in the second quarter of 2019.Technologyread more
Stocks jumped to their highs of the day on news that face-to-face talks between U.S. and Chinese trade negotiators would begin next week.US Marketsread more
Boris Johnson, one of the biggest voices in the Brexit movement, wins the Conservative Party leadership race by a 2-1 margin.Europe Politicsread more
Disney can nearly double its earnings by 2024, Morgan Stanley said in a note to clients on Tuesday.Investingread more
Amazon is expected to report its second-quarter earnings on Thursday.Investingread more
The largest residential brokerage company in the U.S. is partnering with the largest online retailer in a strategy to boost sales for both.Real Estateread more
Tesla shares hit an all-time high on
Tesla shares surged as high as $294.15, blowing past a prior high of $291.42, set on Sept. 4, 2014, and pushing Tesla's market capitalization past that of Ford. Tesla's market cap is now about $47.8 billion, while Ford's sits at about $44.8 billion.
Now, Tesla is just a few billion behind General Motors' $50.9 billion market cap.
To put this in perspective, Tesla sold just over 76,000 cars in 2016, whereas Ford sold 6.7 million cars in the same year.
Baird analyst Ben Kallo said in a research note sent Sunday that Tesla is on track to meet or exceed guidance for the first half of 2017, "and we expect shares to trade higher as
continued execution allows investors to focus on the Model 3. "
And from here on out, "it's all about the Model 3," said
"To date, we believe Tesla's high-priced, high-performance Model S sedan and X SUV have practically been pure-battery EV proofs of concept, while its upcoming Model 3 is rather the car Tesla has been working toward this whole time – its first to be engineered from the outset for mainstream $35K+ pricepoints and, most importantly, lower-cost/ease-of-manufacturing," he said.
CFRA analyst Efraim Levy said in a note sent Monday, that Tesla's delivery numbers bode well for the company and should add to recent positive sentiment, but he reiterated his sell rating on the stock.
"Despite a track record of often missing performance target deadlines," Levy said, "this pace should put TSLA on schedule to meet its guidance of more than 47,000 vehicle deliveries for the '17 first half. Smoothness with legacy vehicles will likely allow more focus on a successful launch of the critical Model 3 vehicle later this year. Still, TSLA's rich valuation concerns us."
Correction: This story has been revised to correct the date of Tesla's previous all time high. It was Sept. 4, 2014.