Tesla Rides on Positive Outlook and 3 Stocks At 52-Week Highs

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Tesla Motors (NASDAQ:TSLA): Closing price $43.93

Shares are traded notably higher Monday after the electric car maker said that it expects to report a profit on both a GAAP and non-GAAP basis for its first quarter, following better-than-anticipated sales of its Model S vehicle. Tesla said that Model S sales surpassed 4,750 units in the three months ended March, which beat its prior division outlook of 4,500. Also, the firm amended its first quarter guidance to “full profitability,” while the consensus forecast is for a loss per share of 7 cents. In a note to investors, the analyst firm Pacific Crest said that much of Tesla’s earnings upside originated in a one-time reversal of warrant liability renegotiated from the Department of Energy loan, which was not mentioned in the press release. The firm added that it thinks that Monday’s strength in Tesla’s shares is overdone. Shares closed up 15.94 percent on Monday¬†at $43.93, and have been traded in a 52-week range of $25.52 to $40.00.

NEW! Discover a new stock idea each week for less than the cost of 1 trade. CLICK HERE for your Weekly Stock Cheat Sheets NOW!


More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business