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.
Jack Daniels was at the U.S. Supreme Court today. The whiskey-makers argued that a dog toy company violated federal trademark law with a product that parodies the distiller's iconic bottle. The toy is the Bad Spaniels Silly Squeaker toy by VIP products. The first amendment case pits the rights of a famous trademark holder against parody products. Jack Daniel says the toy damages its reputation, especially the references to dog poop.
Alcohol brand White Claw is moving into spirits amid an industrywide shift away from hard seltzers. The spiked seltzer brand announced a new line of regular and flavored White Claw premium vodkas. The bottles are available in select markets across North America and come in an unflavored option as well as pineapple mango and black cherry white Claw has dominated the Heart Seltzer market for years. Now bringing the category into the mainstream as more consumers sought those low calorie alcohol drinks.
Stocks are holding relatively steady Wednesday as Wall Street bides its time until the Federal Reserve’s announcement in the afternoon about whether it will tighten the screws further on the economy.
Meme stocks are rising before the opening bell Wednesday after GameStop, one of the most heavily traded off-brand stocks during the pandemic, posted a surprise profit for the fourth quarter.
The rising cost of groceries is pushing more consumers to use Buy Now Pay Later (BNPL) services for necessities such as groceries, according to new data from Adobe Analytics.
White Claw helped make hard seltzer a staple for American drinkers. Now it's getting into the spirit business with its own vodka brand because of new rules passed during the pandemic.
