Scalper1 News
Now that it’s impressed the world with higher-than-expected demand for its new Model 3, Tesla Motors ( TSLA ) is set to report its quarterly results after the close on Wednesday. Analysts expect the luxury electric car maker’s per-share loss to widen to 57 cents amid production and Gigafactory investments. Revenue is projected to jump 45% to nearly $1.6 billion. The jump marks a third straight quarter of faster top-line growth. Tesla cleared a cup-with-handle base with a 239.98 buy point on April 1. Shares continued to climb the next few days but have pulled back, briefly undercutting the buy point Friday intraday. Positive results could potentially send shares to their highest level this year, while negative results could send the stock back to its 200-day and 50-day lines, which are close to converging. Meanwhile, Tesla partner Mobileye ( MBLY ) reports before the open on Thursday. The maker of advanced driver assistance systems is also working with other automakers on their autonomous and semi-autonomous car efforts. Earnings are projected to pop 75% while revenue increases 61%. Mobileye stock is trading about 40% below its all-time high reached last August, but the stock has rallied sharply from its February low. And Tesla chip supplier Nvidia ( NVDA ) is extended 8% from a cup-with-handle base buy point initially cleared in March. Nvidia shares are dropping 2% in quick trade Friday, ahead of its quarterly report on May 12. Scalper1 News
Scalper1 News