Tesla’s Tumultuous 2nd Quarter Tops D20, and Finally Some Positive News for Uber

An announcement from Tesla (TLSA) that it exceeded analysts’ estimates for second quarter revenue and earnings drove its stock price up 6 percent this week. That increase helped the Driverless Transportation Weekly Stock Index (D20) eke out a 0.4-percent gain, even though price losers outnumbered gainers 12 to eight.

The D20 was outpaced by the Dow, which jumped 1.2 percent, but doubled up the S&P 500, which only gained 0.2 percent.

Tesla’s second quarter revenue was $2.79 billion with a non-GAAP earnings per share (EPS) loss of $1.73, which beat the consensus estimates of $2.52 billion in revenue and an EPS loss of $1.88. The Tesla stock price rose from $335.07 to close the week at $356.91 per share.

Tesla’s futures are heavily hedged on the success of its Model 3 launch and early production figures. Tesla is betting that a reasonably priced but stylish, fully electric vehicle will get its sales volumes high enough so that it can start covering its administrative overhead and turn those EPS losses into gains.

Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.



There is finally some good news for the beleaguered Uber, from its freight division. Uber Freight announced that it is adding new markets in California, Arizona, Georgia, South Carolina, North Carolina and the Chicago-Midwest Region. It also announced that it has added personalized load-matching, which takes into account what types of loads a driver prefers and whether the route is local, short haul or long haul.