Monday’s Headlines: Tesla’s Record-Setting Quarter

Monday’s Headlines: Tesla’s Record-Setting Quarter

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️

Paycom (PAYC) +2.7%

Bill.com (BILL) +2.7%

StoneCo (STNE) +2.3%

Amazon (AMZN) +2.3%

Microsoft (MSFT) +2.2%

Moving Down ⬇️

Lemonade (LMND) -4.5%

Redfin (RDFN) -3.4%

Yext (YEXT) -3.1%

Baozun (BZUN) -2.9%

Zillow (Z) -2.7%

1. On Friday, Tesla (TSLA) reported a record-breaking second quarter by delivering 201,250 vehicles, up 122% year-over-year. It was the EV maker’s first time ever selling over 200,000 vehicles in a three-month period, but despite these impressive figures, Tesla still fell short of the 201,820 deliveries analysts were expecting. CEO Elon Musk congratulated the Tesla team via Twitter but was quick to point out that the company faced many challenges in the quarter such as parts shortages and price increases. Back in May, Musk said that the company had raised the price of some Tesla vehicles “due to major supply chain price pressure industry-wide.” Read more here

2. Disney (DIS)+ subscriber growth is slowing down according to a recent report from The Information. The findings stated that the streaming service has just over 110 million subscribers. Considering the service had 103.6 million in March, which also missed expectations of 109 million, these low figures for the current quarter suggest growth is losing steam. Critics have said that there is also a gap in Disney+ original content and while the service had a few big hits, especially with ‘The Mandalorian’ and the Marvel shows, its content is mostly old movies and TV shows. Another issue is that the vast majority of new subscribers are coming from India, where a subscription only costs $0.45 compared to $8 in the U.S. See more here

3. Amazon (AMZN) has granted incoming CEO Andy Jassy a big welcome gift in the form of 61,000 shares. Amazon’s massively profitable AWS cloud business is Jassy’s brainchild, and although he might not be Amazon’s founder, his $214 million award, on top of the more than $300 million in Amazon stock he already owned, is a massive indicator of his commitment to bring Amazon to another level. The decision should keep Amazon shareholders happy in regards to Jassy’s commitment as they get used to the sizeable absence of Jeff Bezos. See more here.

NicoleNicole

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