 |
Louisiana Light • 4 days | 83.76 | +0.29 | +0.35% | ||
|
Bonny Light • 3 days | 84.11 | -0.31 | -0.37% | ||
|
Opec Basket • 4 days | 84.30 | +0.70 | +0.84% | ||
|
Mars US • 191 days | 77.26 | -1.51 | -1.92% | ||
|
Gasoline • 2 days | 2.500 | -0.042 | -1.66% |
|
Bonny Light • 3 days | 84.11 | -0.31 | -0.37% | ||
|
Girassol • 3 days | 85.07 | -0.23 | -0.27% | ||
|
Opec Basket • 4 days | 84.30 | +0.70 | +0.84% |
|
Peace Sour • 3 days | 72.46 | +0.27 | +0.37% | ||
|
Light Sour Blend • 3 days | 75.51 | +0.27 | +0.36% | ||
|
Syncrude Sweet Premium • 3 days | 82.46 | +0.27 | +0.33% | ||
|
Central Alberta • 3 days | 72.86 | +0.27 | +0.37% |
|
Eagle Ford • 4 days | 75.74 | +0.27 | +0.36% | ||
|
Oklahoma Sweet • 4 days | 75.75 | +0.25 | +0.33% | ||
|
Kansas Common • 4 days | 69.50 | +0.25 | +0.36% | ||
|
Buena Vista • 4 days | 83.77 | +0.27 | +0.32% |
Saudi Arabia’s Oil Giant Keeps $31-Billion Q1 Dividend Despite Profit Drop
Despite a decline in net…
New EPA Regulations on Fossil Fuel Emissions Could Lead to Power Shortages
Biden's administration finalized rules mandating…
Will Q3 Earnings End Tesla Shares’ Longest Losing Streak Since March?
Shares in Tesla (NASDAQ: TSLA) were rising early on Wednesday as investors, analysts, and traders await the company’s Q3 earnings release after the closing bell today.
In the week before the earnings report, Tesla’s stock saw its longest losing streak on the market since the consecutive six-day losses that ended on March 18. Over the past six days ahead of Wednesday’s earnings release, Tesla’s stock has lost 8.5 percent.
On Tuesday, Tesla dropped 2.1 percent, likely due to weak California new vehicle registration data, as well as to traders adjusting positions in anticipation of the earnings release after market close on Wednesday, according to Barron’s.
Last month, Tesla lost as much as US$50 billion of its market capitalization in a single day, after the EV manufacturer’s Battery Day event offered few details about the price of battery packs and not a single ground-breaking announcement.
Earlier this month, however, Tesla reported record vehicle deliveries of 139,300 cars, slightly beating the analyst consensus of 137,000 vehicle deliveries.
“In terms of days of sales, new vehicle inventory declined further in Q3 as we continue to improve our delivery efficiency,” Tesla said in early October.
Analysts and traders now expect the earnings report, and expectations are high. According to the consensus of analysts surveyed by FactSet, Tesla is expected to report earnings of $0.57 per share and revenue of $8.28 billion.
Analysts at Goldman Sachs and Wedbush Securities expect Tesla to confirm its full-year delivery target of 500,000 vehicles and believe it is in a position to reach it.
ADVERTISEMENT
“Ultimately this week we view as another step forward for Musk & Co. with healthy demand and profitability emerging out of this dark macro which has been a massive struggle for many of Tesla’s peers,” Wedbush Securities’ analyst Dan Ives told Business Insider this week.
By Charles Kennedy for Oilprice.com
More Top Reads From Oilprice.com:
- ISIS Calls For Attacks On Saudi Oil Industry
- Biden's $2 Trillion Energy Plan Could Crush Natural Gas
- Oil Majors Stuck Between A Rock And A Hard Place
Related posts
Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
