Stocks fell on Thursday as investors retreated ahead of the Federal Reserve's Jackson Hole symposium, with European stocks dropping and technology stocks giving up earlier gains, while Walt Disney shares tumbled, and Treasury yields increased on strong economic data and concerns about inflation.
Tesla's lack of specifics on the Cybertruck, including its specs and starting price, has caused a decline in its stock value and uncertainty among analysts.
Shares of Tesla Inc. dropped 5.0% after the company reduced prices in China for the second time in two weeks, despite experiencing overall volatility this year.
The stock of Tesla dropped over 5% due to the launch of new hardware, but software may have been a bigger factor.
Stock futures fell on Wednesday, with the S&P 500 and Dow Jones Industrial Average futures down 0.2% and 39 points respectively, following losses in the previous session, while Nasdaq-100 futures dropped 0.33%.
Stocks fell in morning trading on Wall Street, with the S&P 500 down 0.7%, as big technology stocks and healthcare stocks experienced losses, while several companies made significant moves after reporting earnings and other updates.
Tesla stock experienced a decline, potentially due to market conditions or factors related to Munich.
Tesla's stock jumped 10.09% and snapped a three-day losing streak, closing at $273.58, as the overall stock market experienced a positive trading session.
Apple's stock dropped 7.2% in the week leading up to the iPhone 15 launch, the largest decline ever for an iPhone release, signaling investors' lack of enthusiasm for the company's stagnant growth compared to other S&P 500 companies.
Stocks fell on Friday, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all declining, but Wall Street is on track for a winning week.
Despite Tesla's record deliveries in the second quarter, the series of price cuts have impacted margins and Goldman Sachs analyst Mark Delaney expects Tesla to continue slashing prices in 2024 to support higher volumes, resulting in lower vehicle sales than previously anticipated in Q3 and reduced EPS estimates for 2023 and 2024.
Goldman Sachs lowers its profit outlook for Tesla due to lower average selling prices and predicts that the company may cut vehicle prices in 2024 to maintain high volumes, leading to a decrease in Tesla stock.
Rocket Lab stock fell after the company's Electron rocket carrying the CAPSTONE mission failed about 2 minutes and 30 seconds into the flight, marking the company's first launch failure in over two years; Rocket Lab is working with the Federal Aviation Administration to investigate the root cause of the issue.
Shares of Tesla Inc. TSLA fell 2.62% to $255.70 as the stock market experienced a poor trading session, with NASDAQ and Dow Jones also declining.
Starbucks Corp. shares dropped by 2.16% as the stock market took a hit, resulting in their third consecutive day of losses.
Tesla stock is experiencing a decline due to the impact of China.
Tesla's third-quarter delivery figures are uncertain, causing the stock to slump, with analysts projecting various outcomes based on app downloads and vehicle registration data.
Tesla stock has received an upgrade despite falling 6.8% in September due to downgrades and estimate cuts, providing some positive news amidst concerns over delivery outlook.
Tesla may fall short of third-quarter delivery estimates due to factory shutdowns and soft demand, but analysts believe that upgrades and refreshed models in the coming months could boost sales and competition with rivals like Ford and BYD.
Tesla missed market estimates for third-quarter deliveries due to planned factory upgrades, causing a 2.4% drop in its shares, although the company's target to deliver 1.8 million vehicles this year remains unchanged.
Tesla's deliveries in the third quarter were lower than expected, with a 6% decline from the second quarter due to planned factory upgrades and temporary shutdowns, despite the company's target of around 1.8 million vehicles in 2023.
Wall Street is optimistic that despite recent bad news, Tesla stock will continue to perform well.
Tesla stock faces new troubles as delivery numbers disappoint and sale prices decline, while CEO Elon Musk faces legal troubles over Twitter disclosure; however, analysts still back Tesla with a Moderate Buy rating and a 9.24% upside potential.
Tesla stock slipped 2.02%, ending a three-day winning streak, as the overall market experienced a poor trading session, with both the NASDAQ Composite Index and Dow Jones Industrial Average falling.
Tesla's stock fell nearly 1% after the company cut prices on some models and reported third-quarter deliveries that missed market expectations.
Tesla shares fell after the company lowered prices on its Model 3 and Model Y vehicles in the U.S. to boost demand, following lower-than-expected third-quarter deliveries.
Tesla's stock dipped by 1% after sales of its China-made electric vehicles decreased by 10.9% in September, with Model 3 and Model Y sales down 12% from August to September.
Tesla stock dropped after disappointing China delivery numbers, indicating that October will be a crucial month for the company.
Tesla's stock ended the latest trading session at $259.67, with a slight decrease of -0.33%, and analysts are closely watching the company's upcoming earnings disclosure, expecting a decrease in EPS but an increase in revenue compared to the previous year.
Tesla's market share in the electric vehicle (EV) market in the United States has fallen to its lowest ever, despite a price war, but the launch of its Cybertruck could reverse the trend, according to a report by Cox Automotive.
Tesla's share of the U.S. electric vehicle market has dropped to 50% as new competitors, including EV startups and legacy automakers, gain market share due to increased competition and the release of their own electric models.
The stock market rally had a mixed week with a disappointing finish, as major indexes rose initially but hit resistance, and tech leaders backed off, leading to caution for new buys and a potential sell-off of recent purchases, while Tesla stock held up despite expectations of its worst earnings in two years.
Apple's stock fell after reports indicated that Huawei is gaining a larger share of the Chinese market, with the new iPhone 15 facing challenges in sales compared to its predecessor.
Tesla is expected to report a drop in earnings per share for the third quarter, but analysts are hopeful for a rebound in deliveries in Q4 with the new Model 3 and Cybertruck launch.
Dow Jones futures dropped after stronger-than-expected retail sales data, while Tesla stock fell due to a recall of Model X vehicles, and key earnings reports were released for Bank of America, Goldman Sachs, Johnson & Johnson, and Lockheed Martin.
Tesla's third-quarter profit estimates have dropped by almost 50% this year due to aggressive price cuts, but the stock continues to rise, adding over $420 billion in market value, creating conflicting signals about the company's future prospects.
Stocks fell on Wednesday due to escalating tensions in the Middle East and lackluster earnings from Morgan Stanley, while bond yields reached their highest levels since 2007 and oil prices rose due to concerns over a potential regional conflict; meanwhile, Nvidia stock dropped after the US announced plans to halt shipments of AI chips to China and Morgan Stanley's profits shrank during Q3.
Despite an earnings miss, Tesla investors remain positive due to optimistic news on gross margins and the Cybertruck, focusing on the company's ability to stay ahead of its competitors and its plans for future growth.
Tesla's profits dropped by 44% in the third quarter due to significant price cuts, and CEO Elon Musk warned that the new Cybertruck model would take at least 18 months to become profitable.
Tesla reported third-quarter results that fell short of Wall Street estimates, highlighting the ongoing difficulties faced by traditional auto makers in building competing EV businesses.
Tesla's adjusted profit in the third quarter fell 37% compared to the prior-year quarter, with operating margin erosion and increased costs due to a price war and factory shutdowns impacting the company's performance.
Analysts have lowered their price targets for Tesla stock after the company reported disappointing Q3 earnings, raising questions about its near-term strategy and growth potential in 2024. Despite this, Tesla's stock had surged earlier in the year as investors remained optimistic about the company's long-term growth.
Stocks fell as Treasury yields rose and investors reacted to a speech by Federal Reserve Chair Jerome Powell, with the Dow Jones Industrial Average down 0.75%, the S&P 500 falling 0.9%, and the Nasdaq Composite leading the losses with a nearly 1% drop; in other news, Netflix shares surged more than 16% after the company reported a surge in subscriber numbers and announced plans to raise prices in the US, while Tesla shares fell almost 10% after the company's earnings missed estimates.
Tesla's share price dropped by nearly 9% and Elon Musk's net worth decreased by $24 billion after the company's poor Q3 report and Musk's pessimistic remarks about the global economy.
Tesla's stock price fell 8% as CEO Elon Musk's warning about higher interest rates and delayed production of the Cybertruck caused a sell-off.
Tesla's stock was up 79% for the year in 2023, but recent events and price cuts have led to a 15% drop from the previous week and a 24% drop from this year's high in July, affecting the company's profit margins.
Tesla's stock fell below a key level, indicating a possible longer-term downtrend, following disappointing earnings and a three-day losing streak.
