Our series "Generation Trader" highlights the most compelling business stories that are moving the market while utilizing E*TRADE's innovative trading platform. In this episode Cheddar's Hope King and Baker Machado take a look at Tesla's performance.
The automaker reported 2017 fourth quarter earnings last week, so we felt it fitting to take a deep dive on this stock's performance and see how it compares to legacy automakers. It's been a busy time for the company's CEO Elon Musk.
Musk's other company, SpaceX, launched the original Tesla roadster into space last week with the launch of the Falcon Heavy rocket.
The day after Tesla's latest earnings report you can see a drop in investor confidence. Shares fell more than 8 percent in reaction, but the overall markets were also down big that day. While Tesla did try to smooth over concerns over Model 3 production, the automaker said it expects to spend more money this year than in 2017. The company slightly beat on analyst expectations for revenue, generating $3.3 Billion dollars for the quarter, a 36 percent increase from the year before.
JPMorgan CEO Jamie Dimon said the U.S. and the banking industry should amend regulations following the collapse of Silicon Valley Bank and Signature Bank last month, saying that the financial system needs to be adjusted so that one bank's failure does not “cause undue panic and financial harm.”
U.S. new-vehicle sales rose 7.5% in the first quarter as supplies improved and sky-high prices eased a bit while the global shortage of computer chips started to wane.
Disney CEO Bob Iger on Monday said any retaliatory actions by Florida Gov. Ron DeSantis and the Republican-controlled Florida Legislature against the company that threaten jobs or expansion at its Florida resort is not only “anti-business ... but anti-Florida.”
Richard Branson's Virgin Orbit is filing for Chapter 11 bankruptcy protection after a failed mission this year and increasing difficulty in raising funding for future missions.
