Greeat event and panel discussion on Intelligence matters series, event next Wednesday October 30 in Washington president’s club;

Dont miss this great event on ‘Intelligence matter discussion series!

Reserve your tickets now! Mark down your calendars,

Live Tesla Video News – CNBC

.

Tesla shares soar after crushing third-quarter earnings

Tesla reported third-quarter revenue of $6.3 billion and earnings per share, adjusted, of $1.86 on Wednesday.Shares spiked more than 20% after Tesla posted the surprise profit and said it was ahead of schedule with a new factory in Shanghai.

Tesla delivered a strong third-quarter earnings report after the bell on Wednesday, posting a surprise profit and telling shareholders it is ahead of schedule with a new factory in Shanghai. Shares spiked more than 20% after hours, putting them at their highest price since February.

Here’s what the results were versus analysts’ expectations:

Adjusted earnings per share of $1.86 vs. expected losses of 42 cents per shareRevenue of $6.3 billion, vs. expected $6.33 billion, according to Refinitiv consensus estimates

The electric car maker gave investors plenty to look forward to next year. It released a glossy 28-page investor update filled with photos from its new factory in Shanghai where Tesla said it’s already begun trial production runs.

The company also said it was ahead of schedule on its long-awaited Model Y crossover, which it now expects to launch by next summer. At the same time, Tesla says it is planning to make a limited run of its Tesla Semi truck next year, and hopes to soon announce the location of its European Gigafactory, where it aims to begin making electric vehicles in 2021.

In its Q3 2019 Update, Tesla said:

“Gigafactory Shanghai was built in 10 months and is ready for production, while it was ~65% less expensive (capex per unit of capacity) to build than our Model 3

Tesla shares dropped after the company reported losses of $1.12 per share and $6.35 billion in revenue. At this time last year, Tesla reported a “historic” third quarter with revenue of $6.82 billion and earnings per share of $2.90.

In Q3, Tesla released over-the-air software updates, including a controversial Smart Summon feature, that lets some Tesla drivers use an app to remotely call and control their cars. The cars can, in some situations, come pick them up from a short distance away, navigating a parking lot without any driver behind the wheel to do so.

Margins will be in sharp focus on today’s earnings call, in part, because Tesla launched new Autopilot software upgrades which enabled the company to recognize deferred revenues. The company has been selling more, lower-priced Model 3 vehicles in 2019, and fewer of its higher-priced Model S and Model X’s.

The company said in its Q3 2019 report: “Despite reductions in the average selling price (ASP) of Model 3 as global mix stabilizes, our gross margins have strengthened.”

Specifically, automotive gross margins for Tesla rose to 22.8% in the third quarter, up from Q2 auto gross margins of 18.9%, but still less than the 25.8% automotive gross margins Tesla reported during the third quarter last year. Tesla said that margins were improved in part through “Smart Summon-related deferred revenue recognition, FX and other non-recurring items.” It did not specify what the non-recurring items were.

Tesla CFO Zach Kirkhorn said on an earnings call on Wednesday afternoon that the company recognized $30 million in revenue related to the Smart Summon update.

Today’s third-quarter earnings report is the first for Tesla since the departure of co-founder and former CTO JB Straubel, and since the company completed the acquisition of two companies: A computer vision startup

Video: Tasha Keeney, ARK Invest, discusses Tesla’s earnings and what she sees for the company in the U.S. and in China. With CNBC’s Phil LeBeau.

.

Information, full article on “CNBC WallStreet, New York” CNBC LIVE COVERAGE

.

.

By mexicodigital news

Roberto Medina

Breaking news: Tesla Stock goes “Sky Rocket”
24 octubre, 2019 mexicodigital.news
mexicodigital.news

Femsa adquiere 50% de Raízen y abre paso a Oxxo en Brasil

La compra del 50% de Raízen permite crear una plataforma de crecimiento para Femsa y abre la oportunidad de llevar la marca Oxxo a Brasil

Fomento Económico Mexicano (Femsa) anunció este martes que llegó a un acuerdo para establecer una asociación estratégica y adquirir 50% de la firma brasileña de tiendas Raízen Conveniências.

“Algunas avenidas potenciales de crecimiento incluyen aumentar la penetración de tiendas de conveniencia Select en las estaciones de servicio de Raízen, así como el desarrollo de propuestas de valor exitosas para tiendas bajo la marca Oxxo”, dijo Femsa en un comunicado.

Raízen Conveniencias tiene un valor de 1,122 millones de reales brasileños, monto que representa 282 millones 605,000 dólares al tipo de cambio actual, mientras que el 50% adquirido por Femsa es de 561 millones de reales, que se traducen en141 millones 302,000 dólares.

“Desde hace mucho tiempo, hemos mirado a Brasil como un mercado atractivo para tiendas de formato pequeño. La transacción anunciada el día de hoy combina el activo y el socio adecuados, con la estructura correcta y el momento oportuno”, dijo Daniel Rodríguez Cofré, director general de Femsa Comercio.

La firma brasileña opera 6,200 estaciones de servicio de Shell en Brasil, de las cuales cerca 1,000 de ellas cuentan con una tienda de conveniencia de la marca Select, que operan como franquicias o licencias otorgadas a operadores independientes.

–Raízen surge a partir de un joint venture entre Cosan y Shell, firmas que cuentan con una participación de 50% cada una.

Femsa considera que la operación anunciada permitirá crear una plataforma sólida para un crecimiento futuro, ya que la penetración de Raízen en tiendas de conveniencia es aún baja dentro de las estaciones de servicio.

La transacción deberá recibir la aprobación de las autoridades competencia para concretarse, lo cual se espera que ocurra durante esta segunda mitad de 2019.

Femsa Comercio opera distintas cadenas de comercio al detalle de formato pequeño en México, Colombia, Chile, Perú y Ecuador, entre las cuales se encuentran las tiendas Oxxo, farmacias YZA, Farmacon, Moderna, Cruz Verde, Fybeca y SanaSana, y las tiendas de belleza Maicao.

El joint venture es una asociación estratégica temporal en una operación comercial determinada, es decir, una colaboración empresarial en donde se comparten riesgos e inversiones.

Tulum, Qr. Agosto 7, 2019

de mexicodigital.news

Femsa abre paso a Oxxo e incursiona Brasil
23 octubre, 2019 mexicodigital.news