Yahoo Finance Today's Research Reports on Stocks to Watch: Tesla and Facebook
NEW YORK, NY / ACCESSWIRE / November 3, 2017 / Tesla's shares sank into the red on Thursday after reporting a quarterly report that didn't beat expectations. It was also revealed that buyers may be losing the $7,500 tax credit for purchasing electric vehicles in the future. Facebook's shares also hit the red after reporting a strong third quarter report.
RDI Initiates Coverage on:
Tesla, Inc.
https://rdinvesting.com/news/?ticker=TSLA
Facebook, Inc.
https://rdinvesting.com/news/?ticker=FB
Tesla, Inc.'s shares closed down 6.80% yesterday on nearly 20 million shares traded. The electric vehicle giant hit a seven month low yesterday after the company reported its third-quarter financial report that missed estimates. It also didn't help that Bloomberg quoted a House Republican who said that a U.S. tax bill that was to be introduced yesterday would repeal the $7,500 tax credit that buyers receive when they buy electric cars. David Tamberrino, an analyst at Goldman Sachs, commented, "We believe the stock should continue to derate following third-quarter results where the company further pushed out its Model 3 production targets. Altogether, we believe this indicates that the company's goal for positive operating cash flow should remain elusive until the middle of 2018." Tesla also announced that it has plans to set up a manufacturing facility in China. CEO Elon Musk stated, "Don't set your watch by this. There's a rough target of starting production in the next three years, and it would be serving the China market and some of the surrounding region."
Access RDI's Tesla, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=TSLA
Facebook, Inc.'s shares closed down 2.05% after hitting a high of $181.94 during intra-day trading on a little over 35 million shares traded yesterday. The social media giant reported its third-quarter earnings that although were impressive, didn't leave traders impressed. For the quarter, Facebook hit $10 billion in quarterly revenue, beating the $9.84 billion that was expected. EPS of $1.59 a share was also a lot higher than the $1.28 a share expected. Several analysts had things to say about the earnings including Citi analyst Mark May, who wrote, "While mgmt continues to temper expectations, fundamentals remain quite strong and we not only see multiple levers of new growth but also see mgmt's 2018 opex growth guidance as unobtainable." Morgan Stanley analyst Brian Nowak said, "More impressive, FB is delivering this cash flow even while aggressively investing in headcount, ad measurement/improvement, augmented reality, virtual reality, video content, Instagram, Messenger, Whatsapp, Aquila, among other items."
Access RDI's Facebook, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=FB
Our Actionable Research on Tesla, Inc. (NASDAQ: TSLA) and Facebook, Inc. (NASDAQ: FB) can be downloaded free of charge at Research Driven Investing.
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