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Tesla Model S 60 Made To Walk The Plank
21 March 2017, 02:47 | Ross Houston
One Stock Analysts Are Watching – Tesla Motors, Inc. (NASDAQ:TSLA)
Tesla hopes to start selling the Model 3, an all-electric sedan expected to cost around $35,000, later this year, with limited production starting in July.
A new Tesla Motors' analyst is now on the scene... The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.21 billion. This capital raise is meant to "de-risk" the company's financial condition as they focus on getting the Model 3 into production this year. We will know within 30 days whether the underwriters decide to exercise their options to purchase, which would net Tesla an additional ~$180M.
While raising cash isn't critical to releasing the Model 3, it would probably be wise, Musk said on the February 22 earnings call.
Next week, Tesla (NASDAQ:TSLA) will close its first quarter. Vetr cut shares of Tesla from a "hold" rating to a "sell" rating and set a $244.13 target price on the stock.in a report on Tuesday, March 14th.
Musk, 45, is Tesla's chairman and largest shareholder, with a 20.8 percent stake. Sumitomo Mitsui Asset Management Company LTD now owns 281,004 shares of the electric vehicle producer's stock valued at $57,333,000 after buying an additional 239,600 shares during the period.
The billionaire has borrowed for years from Tesla underwriters including Goldman Sachs Group Inc. and Morgan Stanley. So, the company ended up raising around $350 million more via common stock than had originally been planned.
The Model 3 is the key to Musk's push to reach mainstream consumers.
Tesla vehicles outside of Tesla factory.
In related news, Director Antonio J. Gracias sold 5,600 shares of the business's stock in a transaction on Monday, February 6th.
02/23/2017 - Tesla Motors, Inc. had its "hold" rating reiterated by analysts at Deutsche Bank. Assuming Tesla delivers half of its 47,000 to 50,000 estimated units for the first half of the year in Q1, it would imply 23,500 to 25,000 deliveries during the quarter - up from 22,252 deliveries in the fourth quarter of 2016 and 14,820 units in the first quarter of 2016.
The company last tapped bond markets in 2014, when it sold US$2 billion of convertible notes to help fund its "gigafactory" for battery production east of Reno, Nevada, according to data compiled by Bloomberg.
Tesla bumped its all-electric Tesla Model S price by over US$2,000 back in November and now the vehicle's price is about to go even higher.
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General Mills, Inc. (NYSE:GIS)
General Mills makes up approximately 1.9% of Summit Global Investments' holdings, making the stock its 10th largest position. Other research analysts have also issued reports about the stock. (NYSE:GIS) are moving down -0.25% to trade at $60.66.
Texas company recalling 73000 pounds of boneless beef
The company said the problem was discovered when food inspectors found a sample of their beef tested positive for E. coli. Vigorous rehydration and other supportive care is the usual treatment; antibiotic treatment is generally not recommended.
Andromeda patch released for PC - Now v220.127.116.11
Just make sure you print it first and try your best to remove the medical equipment in the background. Mass Effect Andromeda will be released on March 21st for the PS4, Xbox One and PC.