Tesla Reported Earnings and Says It Will Be Better About Meeting Production Deadlines
Tesla reported earnings after the bell today. The company beat on EPS with $-3.04 versus estimates of $-3.12 and met on revenue with $3.29 billion.
The company focused on Model 3 production numbers. Tesla said it is expected to produce 2,500 cars per week by the end of the first quarter and 5,000 Model 3 cars a week by the end of the second quarter.
Cash burn did slow for the company in the latest quarter. But Tesla also reported that it would spend more money in 2018 than it did in 2017.
Cheddar News checks in on what to look for on The Day Ahead as President Joe Biden meets with House Speaker Kevin McCarthy to look to resolve the debt ceiling debate. Earnings are also slated to be reported from companies including Airbnb, AMC Networks, Electronic Arts and Nintendo.
A study on the U.S. banking system found nearly 190 banks are at risk of failure. Preston D. Cherry, founder and president of Concurrent Financial Planning, joined Cheddar News to explain the process if you have a mortgage with a bank that collapses.
Americans have bet over $220 billion on sports with legal gambling outlets in the five years since the U.S. Supreme Court cleared the way for all 50 states to offer it.
Melissa Brown, managing director of applied research with Qontigo, joined Cheddar News to discuss a new start to the trading week as the market edged lower in a mixed-performance day. Investors also await the meeting between President Joe Biden and House Speaker Kevin McCarthy to look to resolve its debt ceiling debate.
Bobbi Rebell, chief financial officer of Financial Wellness Strategies and author of Launching Financial Grownups: Live Your Richest Life by Helping Your (Almost) Adult Kids Become Everyday Money Smart, gives the top four reasons people struggle financially.
Warren Buffett criticized how regulators and lawmakers have handled recent bank failures and noted that the ongoing debt ceiling showdown will sow even more chaos.
