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TSLA

Tesla

$305.84 /

-26.91 (-8.09%)

10:42
01/02/19
01/02
10:42
01/02/19
10:42

Tesla price cut raises demand and profit questions, says BofA/Merrill

BofA Merrill Lynch analyst John Murphy said Tesla's reported Q4 Model 3 production of roughly 61,000 units implies a weekly production rate of just over 5,000 vehicles, which was largely in line with the company's prior commentary of a 5,000 unit/week production run rate sustainability, but below its indication that it was on the path towards a 7,000 unit/week rate. Given the relatively slower than anticipated progress on the production ramp of the Model 3, he expects it will take some time before Model 3 production reaches mass scale, Murphy stated. Additionally, he believes that the announcement that Tesla will be reducing prices across its U.S. lineup by $2,000 could suggest that what many bulls assume to be a substantial backlog "may be less robust." The price cut would equate to about an incremental $800M profit headwind based on consensus deliveries of about 400,000 vehicles for 2019, added Murphy, who keeps an Underperform rating on Tesla shares with a price target of $220.

TSLA Tesla
$305.84 /

-26.91 (-8.09%)

01/02/19 Baird
Tesla inventory news created buying opportunity, says Baird
01/02/19 Nomura Instinet
Nomura expects opportunity to buy Tesla shares at lower levels
12/26/18 Wedbush
Humming on Tesla Model 3 Europe demand 'front and center' into 2019, says Wedbush
12/24/18 Wedbush
Wedbush lays out Apple investor 'Christmas wish list' for 2019

TODAY'S FREE FLY STORIES

Recommendations
Fate Therapeutics price target raised to $63 from $57 at Piper Sandler » 20:14
04/02/20
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FATE

Fate Therapeutics

$21.07 /

+0.865 (+4.28%)

Piper Sandler analyst…

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McEwen Mining names Peter Mah as COO effective immediately » 19:43
04/02/20
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19:43
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MUX

McEwen Mining

$0.71 /

+0.0402 (+6.03%)

McEwen Mining announces…

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Merlin Properties upgraded to Neutral from Sell at Goldman Sachs » 19:34
04/02/20
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19:34
04/02/20
19:34
MRPRF

Merlin Properties

$0.00 /

+ (+0.00%)

Goldman Sachs analyst…

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Initiation
Aroundtown resumed with a Buy at Goldman Sachs » 19:29
04/02/20
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19:29
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AANNF

Aroundtown

$0.00 /

+ (+0.00%)

Goldman Sachs analyst…

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Segro upgraded to Buy from Neutral at Goldman Sachs » 19:26
04/02/20
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SEGXF

Segro

$0.00 /

+ (+0.00%)

Goldman Sachs analyst…

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Derwent London upgraded to Buy from Neutral at Goldman Sachs » 19:24
04/02/20
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19:24
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DWVYF

Derwent London

$0.00 /

+ (+0.00%)

Goldman Sachs analyst…

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Hot Stocks
Nvidia's Stevens sells over 11,000 common shares » 19:14
04/02/20
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19:14
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NVDA

Nvidia

$255.76 /

+12.72 (+5.23%)

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Hot Stocks
Shoe Carnival extends store closures until further notice » 19:13
04/02/20
04/02
19:13
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SCVL

Shoe Carnival

$16.32 /

-0.26 (-1.57%)

Shoe Carnival announced…

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Periodicals
S&P reiterates United States' AA+ credit rating, CNBC reports » 19:12
04/02/20
04/02
19:12
04/02/20
19:12
SPY

SPDR S&P 500 ETF Trust

$251.92 /

+5.81 (+2.36%)

, SPX

S&P 500

$0.00 /

+ (+0.00%)

S&P has affirmed the…

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United Airlines president says revenue down $100M per day, CNBC reports » 19:04
04/02/20
04/02
19:04
04/02/20
19:04
UAL

United Airlines

$23.42 /

-2.225 (-8.68%)

At a United Airlines…

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On The Fly
Fly Intel: After-Hours Movers » 19:02
04/02/20
04/02
19:02
04/02/20
19:02
PLAY

Dave & Buster's

$10.04 /

-0.65 (-6.08%)

, FATE

Fate Therapeutics

$21.07 /

+0.865 (+4.28%)

, TSLA

Tesla

$453.99 /

-27.61 (-5.73%)

, ZUMZ

Zumiez

$14.55 /

-0.34 (-2.28%)

, INCY

Incyte

$77.01 /

+2.8 (+3.77%)

, BBBY

Bed Bath & Beyond

$3.56 /

-0.235 (-6.20%)

, PTON

Peloton

$26.73 /

-1.21 (-4.33%)

, CAKE

Cheesecake Factory

$15.11 /

-0.63 (-4.00%)

, AEHR

Aehr Test Systems

$1.63 /

+0.045 (+2.84%)

, CHWY

Chewy

$35.27 /

-0.575 (-1.60%)

, DTIL

Precision BioSciences

$5.53 /

+0.26 (+4.93%)

Check out this…

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Hot Stocks
MGM Resorts chairman acquires 182,000 common shares » 18:57
04/02/20
04/02
18:57
04/02/20
18:57
MGM

MGM Resorts

$11.51 /

-0.25 (-2.13%)

In a regulatory filing,…

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GM training workers at Kokomo plant in CDC-recommended cleaning procedures » 18:51
04/02/20
04/02
18:51
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GM

General Motors

$18.18 /

-1.08 (-5.61%)

General Motors said it is…

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Hot Stocks
Granite Construction awarded $45M contract by Reno-Tahoe Airport Authority » 18:37
04/02/20
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18:37
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18:37
GVA

Granite Construction

$15.53 /

+0.1 (+0.65%)

Granite announced it has…

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Team announces cost reduction actions » 18:36
04/02/20
04/02
18:36
04/02/20
18:36
TISI

Team

$6.44 /

+0.31 (+5.06%)

Team announced immediate…

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Delta, GCMI to manufacture face shields for hospital workers amid pandemic » 18:32
04/02/20
04/02
18:32
04/02/20
18:32
DAL

Delta Air Lines

$22.67 /

-1.16 (-4.87%)

Delta Flight Products…

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Periodicals
Moody's downgrades ExxonMobil to Aa1 from AAA, Bloomberg reports » 18:29
04/02/20
04/02
18:29
04/02/20
18:29
XOM

Exxon Mobil

$40.39 /

+2.85 (+7.59%)

Moody's has…

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Periodicals
SBA boosts loans rate to 1% after lenders complain, Bloomberg reports » 18:23
04/02/20
04/02
18:23
04/02/20
18:23
SPX

S&P 500

$0.00 /

+ (+0.00%)

, SPY

SPDR S&P 500 ETF Trust

$251.92 /

+5.81 (+2.36%)

, BAC

Bank of America

$20.57 /

+0.775 (+3.92%)

, C

Citi

$39.30 /

+0.75 (+1.95%)

, JPM

JPMorgan

$87.45 /

+3.03 (+3.59%)

, USB

U.S. Bancorp

$32.71 /

+0.77 (+2.41%)

, WFC

Wells Fargo

$27.21 /

+0.63 (+2.37%)

, GS

Goldman Sachs

$149.94 /

+4.55 (+3.13%)

, MS

Morgan Stanley

$33.89 /

+2.25 (+7.11%)

The U.S. Small Business…

The U.S. Small Business Administration has increased to 1% the interest rate lenders may charge small businesses under a $350B U.S. relief program after lenders complained that the previous approved rate of 0.5% was lower than even their own cost of funds, Bloomberg's Mark Niquette and Michael Sasso report. U.S. Treasury Secretary Steven Mnuchin and SBA Jovita Carranza released more guidelines for the lending program just hours prior to its expected availability Friday, the authors note. Banks and other lenders that are essential to carrying the program out had said that they did not have enough guidance on how to complete the loans, including what documentation is necessary from borrowers and how to verify it, the authors say. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link

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Hot Stocks
Asur reports March passenger traffic down 35.9% » 18:17
04/02/20
04/02
18:17
04/02/20
18:17
ASR

Asur

$89.66 /

+0.17 (+0.19%)

Grupo Aeroportuario del…

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Periodicals
Mnuchin says small business lending program ready for Friday, CNBC says » 18:16
04/02/20
04/02
18:16
04/02/20
18:16
SPX

S&P 500

$0.00 /

+ (+0.00%)

, SPY

SPDR S&P 500 ETF Trust

$251.92 /

+5.81 (+2.36%)

, BAC

Bank of America

$20.57 /

+0.775 (+3.92%)

, C

Citi

$39.30 /

+0.75 (+1.95%)

, JPM

JPMorgan

$87.45 /

+3.03 (+3.59%)

, USB

U.S. Bancorp

$32.71 /

+0.77 (+2.41%)

, WFC

Wells Fargo

$27.21 /

+0.63 (+2.37%)

, GS

Goldman Sachs

$149.94 /

+4.55 (+3.13%)

, MS

Morgan Stanley

$33.89 /

+2.25 (+7.11%)

U.S. Treasury Secretary…

U.S. Treasury Secretary Steven Mnuchin has doubled-down on the timing of a federal small business lending program, saying during a press conference that the program "will be up and running tomorrow" and that he would raise the interest lenders can charge after hearing feedback from the sector, CNBC's Hugh Son and Dawn Giel report. The comments come as CNBC already reported that none of the participating banks it interviewed are sure they'll be ready when the program launches tomorrow. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link

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Hot Stocks
General Electric CEO: We have our liquidity position well in hand » 18:15
04/02/20
04/02
18:15
04/02/20
18:15
GE

General Electric

$6.89 /

-0.15 (-2.13%)

, F

Ford

$4.35 /

-0.065 (-1.47%)

In an interview on…

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Periodicals
Disney plans to furlough non-union park workers in U.S., CNBC reports » 18:12
04/02/20
04/02
18:12
04/02/20
18:12
DIS

Disney

$96.99 /

+1.99 (+2.09%)

Disney intends to…

Disney intends to furlough its non-union park workers starting on April 19 as the COVID-19 outbreak keeps its theme parks shuttered, CNBC's Sarah Whitten reports. "Disney employees have received full pay and benefits during this time, and we've committed to paying them through April 18, for a total of five additional weeks of compensation," the company said. "However, with no clear indication of when we can restart our businesses, we're forced to make the difficult decision to take the next step and furlough employees whose jobs aren't necessary at this time." Reference Link

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Periodicals
Disney to furlough certain workers, Bloomberg reports » 18:08
04/02/20
04/02
18:08
04/02/20
18:08
DIS

Disney

$96.99 /

+1.99 (+2.09%)

Disney intends to…

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Hot Stocks
SPDR Gold Shares holdings rise to 971.97MT from 968.75MT » 18:05
04/02/20
04/02
18:05
04/02/20
18:05
GLD

SPDR Gold Shares

$151.89 /

+2.36 (+1.58%)

This is the 3rd…

This is the 3rd consecutive increase and the highest level of holdings since August of 2016.

Hot Stocks
Quad/Graphics implements temporary employee furlough program  18:04
04/02/20
04/02
18:04
04/02/20
18:04
QUAD

Quad/Graphics

$2.09 /

-0.205 (-8.95%)

 
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