No car company is making more headlines right now than Tesla. Can the electric vehicle company stay ahead in the battle for electric car dominance?
Mark Rechtin, Executive Editor at Motor Trend, says Tesla's competitors are quickly gaining ground. Motor Trend tested out the Tesla Model 3, Nissan Leaf, and Chevrolet Bolt. Rechtin says that the Leaf and Bolt offer the best options, especially if you don't have $60,000 to spend on a Tesla.
Rechtin also discusses the ongoing problems Tesla is having with its Model 3 production. The company continues to fall behind its original target numbers, while its CEO Elon Musk is tweeting about a possible Tesla pickup truck. Rechtin says Musk should focus more on the Model 3 and less on his dream projects.
The stationary bike and treadmill maker is now valued at over $4 billion after its latest funding round. Maureen Farrell, reporter at the Wall Street Journal, tells Cheddar that most companies claim to be the Netflix of their industry, but in Peloton's case, it may actually be true.
Shares of the connected security camera maker rose as much as 35 percent from the stock's IPO price, but CEO Matthew McRae isn't worried he left money on the table. McRae also told Cheddar that Arlo, a Netgear spinoff, is "more friends than enemies" with strategic partners Amazon and Google, which offer competing devices.
The world's most valuable publicly traded company may actually be worth closer to $1.5 trillion, says Eric Jackson, founder and president of the investment firm EMJ. "This is a company that should be valued as a services business," he says, and that it should trade at a higher multiple to sales.
These are the headlines you Need2Know.
Junta Nakai, global head of business development at fintech company Selerity, says automation in the financial industry has so far been primarily used by the consumer. But his technology will fundamentally change the way traders and financial analysts work.
The speaker maker acknowledged in its IPO filings that one risk to its business could be that partners like Amazon and Google could end their deals at any time. But on the day of the company's market debut, Sonos VP of Finance and Investor Relations Mike Groeninger says his company provides a "winning formula" and he's not worried. Sonos stock opened at $16 a share, above the IPO price, but below its expected range.
Mark Spiegel, managing member of Stanphyl Capital, says Tesla's second quarter was "just horrible," citing the electric carmaker's greater-than-expected loss, its cash-flow deficit and low demand for its Model 3 vehicle. Still, Spiegel says Tesla's current quarter could be the company's best ever, it just won't be as good as CEO Elon Musk says it will be.
Speaker maker Sonos went public Thursday, putting up almost 14 million shares for sale. Rob Marvin, associate features editor at PC Mag, breaks down what sort of competition and challenges the company will face moving forward.
These are the headlines you Need2Know for Thursday.
Tesla posted a bigger than expected loss, but CEO Elon Musk promises that by next quarter, the electric carmaker will turn a profit. Musk also apologized for his rude behavior during the first quarter earnings call, and investors seemed to accept his apology, as shared jumped after his comments.
