Tesla Inc.’s (TSLA) CEO billionaire Elon Musk disclosed that its Model Y is facing production and supply chain issues after production at its main Fremont auto plant was resumed last month.According to a leaked e-mail to employees seen by Electrek, the ramp up of Model Y production capacity to pre-Covid 19 levels is expected to take a while.“It is extremely important for us to ramp up Model Y production and minimize rectification needs,” Musk wrote in the email. “I want you to know that it really makes a difference to Tesla right now.”The vehicle maker was given a green light last month to resume production after the shutdown at its main Fremont auto plant ending a stand-off with Alameda County over coronavirus-related safety measures.In addition, Musk pointed to needed car fixtures in the regular production process.“Model Y, especially GA (stands for General Assembly), is the top priority for both production and...
Popular ‘athleisure’ retailer Lululemon (LULU) is gearing up to report its earnings results this Thursday, and ahead of this key date analysts are busy ramping up their price targets and reiterating their bullish calls.Shares in LULU are currently trading up 36% year-to-date, which means that RBC Capital’s new $360 price target indicates upside potential of 14%. RBC analyst Kate Fitzsimons bumped up her price target from $225 previously, citing updated productivity assumptions and earnings snapback into 2021/22E.“We expect investors to look past 1Q numbers and focus on commentary on digital momentum, productivity in reopened stores/regions including China, and longer-term growth rate opportunities on the other side of COVID-19” she told investors on June 9.Indeed, the analyst views any pullback post-print as a buying opportunity, as “LULU is poised for long-term tailwinds on the other side of COVID-19, given its sweetspot of innovation, loyalty, and casual/athletic focused assortments.”Fitzsimons expects slightly better results than peers...
Tailored Brands Inc., (TLRD) is reportedly mulling to file for bankruptcy proceedings as demand for new suits stalled during the coronavirus lockdown period which ordered most office workers to stay at home.The stock declined 1.2% to $1.66 in pre-market trading after dropping 9% on Monday.According to a Bloomberg report, the retailer and its advisers are approaching interested parties about restructuring its debts of more than $1 billion. One scenario is a Chapter 11 filing, which would allow Tailored Brands to keep some of its stores operating while other weaker locations would close down to satisfy its creditors.At the same time, Tailored Brands is still looking for alternative forms of financing. The restructuring plans could depend on market conditions and the outlook for stores to re-open, according to the report.Sales have been dented because shoppers had to stay at home during the pandemic, and canceled events such as weddings and other celebrations,...
Here's a roundup of top developments in the biotech space over the last 24 hours:Scaling The Peaks (Biotech Stocks Hitting 52-week Highs June 8) * Biohaven Pharmaceutical Holding Co Ltd (NYSE: BHVN) * Celldex Therapeutics, Inc. (NASDAQ: CLDX) (announced a positive readout for the Phase 1 study of KIT inhibitor CDX-0159) * Enochian Biosciences Inc (NASDAQ: ENOB) (moved on positive outcome from a preliminary FDA meeting regarding its HIV treatment candidate that could lead to pre-IND filing) * Fennec Pharmaceuticals Inc (NASDAQ: FENC) * Kiniksa Pharmaceuticals Ltd (NASDAQ: KNSA) * Phathom Pharmaceuticals Inc (NASDAQ: PHAT) * Replimune Group Inc (NASDAQ: REPL) * Sarepta Therapeutics Inc (NASDAQ: SRPT) (announced positive results from a study of SRP-9003, its investigational gene therapy for limb-girdle muscular dystrophy Type 2E) * Y-mAbs Therapeutics, Inc (NASDAQ: YMAB) * Zynex Inc. (NASDAQ: ZYXI)None of the NYSE- or Nasdaq-listed biopharma/medical diagnostics stocks hit 52-week lows Monday.Stocks In Focus Shockwave's...
