Consumer Discretionary

Tesla’s (TSLA) Q2 vehicle deliveries may trail market consensus by 5.5%, partly because of a “tough quarter” in Europe, UBS Securities said Monday in a report. The investment firm lowered its forecast for Q2 to 420,000 units from 471,000 units. The latest projection lags behind the Visible Alpha consensus of 445,000 units and pegs deliveries down 10% from a year earlier and up 9% from Q1. Tesla’s 0.99% financing option on the Model Y likely helped boost US sales in Q2, while industry data in China pointed to a 2% increase in the company’s domestic retail deliveries in April-May from the previous quarter and a 5% jump from a year earlier, UBS said. After the release of Q2 delivery figures, UBS said the focus shifts to earnings and then to the company’s AI robotaxi on Aug. 8. Tesla “may be entering another phase where the stock price disconnects from the […]

Tesla is slated to report second-quarter deliveries in just over a week. Wall Street estimates look too high, creating a risk for its stock. The electric-vehicle maker typically reports global quarterly delivery numbers on the second day of a new quarter. For the second quarter, Wall Street expects just under 450,000 units, according to FactSet — about 4% lower compared with the 466,000 units delivered in the second quarter of 2023. The 450,000 figure, however, looks too high. Recent estimates have been closer to 415,000 units. On Sunday, a Tesla delivery researcher using the pseudonym Troy Teslike published his updated second-quarter estimate. He’s looking for 416,000 cars. To project results Teslike aggregates registration data in the U.S. and sales data from Europe, among other things. His estimates are widely followed on social-media site X and used by many Wall Street analysts when checking their own delivery estimates. The 416,000 figure

A Tesla robotaxi business might not be quite as good for the electric-vehicle maker as investors expect, an analyst noted. Thursday, RBC analyst Tom Narayan cut his Tesla stock price target to $227 from $293 while keeping his Buy rating. He’s adjusted his robotaxi math. Tesla stock was down 1.5% in early trading at $1821.2, while the S&P 500 and Nasdaq Composite were both up about 0.3% Tesla hosts a robotaxi event on Aug. 8. Investors expect to see what a Tesla robotaxi will look like. They will also expect to hear what progress Tesla is making with its artificial-intelligence-trained self-driving software. Tesla sells advanced-driver-assistance systems today, but Teslas don’t truly drive themselves. CEO Elon Musk believes that creating a truly self-driving car would represent an incredible financial windfall for the company. If it happens, Tesla could operate an Uber Technologies-like fleet of self-driving cars. It could also offer an

Tesla stock is soaring while the Nasdaq Composite naps. Investors looking for a reason should look back to Wednesday. Tesla stock was up 4% in midday trading at $184.28 while the S&P 500 and Nasdaq Composite were both up about 0.1%. There aren’t any upgrades or downgrades to focus on. CEO Elon Musk hasn’t tweeted out anything noteworthy. That means the pay package is still the main reason responsible for Monday’s move. This past week, shareholders re-approved Musk’s 2018 pay package, awarding the CEO some 300 million incentive-laden stock options. They had to vote again because a Delaware judge voided the deal in January, citing inadequate disclosures to investors. Musk tweeted the result on Wednesday evening. Tesla disclosed full details Friday about the vote, which showed about 72% support for approving the award. The original proposal in 2018 passed with 73% support. Wedbush analyst Dan Ives called the pay vote

Tesla (TSLA) has obtained approval to test its advanced driver-assistance system in Shanghai, China, and could also receive authorization to do the test in Hangzhou, Bloomberg News reported Monday, citing an unnamed source familiar with the matter. According to the report, the source said Tesla staff will conduct the system’s initial tests. Bloomberg said the company previously received approval to deploy the advanced driver-assistance system during a visit by Chief Executive Officer Elon Musk to Beijing.