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Investors had expected two big announcements from Chief Executive Officer Elon Musk: the development of a "million mile" battery good for 10 years or more, and a specific cost reduction target - expressed in dollars per kilowatt-hour - that would finally drop the price of an electric vehicle below that of a gasoline car....
(Bloomberg) -- Tesla Inc.’s highly anticipated “Battery Day” fell short of expectations that helped fuel its $320 billion surge in market value this year, with Elon Musk outlining grandiose goals that will take time to pull off.The chief executive officer laid out a plan Tuesday to build a $25,000 car and cut battery costs in half over the next three years. While the technology and manufacturing breakthroughs outlined were impressive, Robert W. Baird’s Ben Kallo wrote, Tesla’s valuation already reflected its ability to disrupt.“With the Battery Day in the rearview, we think there is a lack of upcoming catalysts and are cautious about demand given the recessionary environment,” Kallo wrote in a report naming Tesla a bearish “fresh pick.”Tesla shares slumped as much as 6.9% to $395 before the start of regular trading. The stock has soared more than 400% this year.Musk, 49, said Tesla wants to eventually produce 20 million...
Here's what Wall Street is saying about Nike's blowout quarter....
Ciena Corporation (NYSE:CIEN) shares have had a horrible month, losing 31% after a relatively good period beforehand......
If you love investing in stocks you're bound to buy some losers. Long term Preferred Apartment Communities, Inc......
Western Digital Corp. has aligned its $16.7 billion worth of storage portfolio and in turn, formed two separate business units for its Flash and Hard Disk Drive (HDD) technology assets.The hard-disk drive manufacturer Western Digital (WDC) said that the strategy “leverages company’s go-to-market synergies to address broad customer storage needs from edge devices to cloud infrastructure.”Last month, the company reported 4Q adjusted EPS of $1.23, topping analysts’ expectations by a penny. Earnings significantly improved from the year-ago quarter’s earnings of $0.17. Its revenues of $4.29 billion rose 18% year-over-year but lagged the Street consensus of $4.34 billion. (See WDC stock analysis on TipRanks)Following the separation decision, Susquehanna analyst Mehdi Hosseini said that he expects the new alignment to generate synergies in the long term via increased ROIC [Return on invested capital], while he doesn't see any “short-term implications on the business model, with opex [operating expenditure] unchanged.” He added that “the...
TORONTO, Sept. 23, 2020 /CNW/ - Excellon Resources Inc....
