5 Killer Stats
Tesla cars delivered in Q1
Elon Musk’s electric car company Tesla announced this week that it had only managed to deliver 63,000 cars in the first quarter, significantly below analyst expectations of 76,000. These numbers start to reflect the impact of falling Federal tax credits which were previously available to consumers, but the company is attempting to counter this by increasing sales of cheaper models.
Down £64 million
easyJet profit guidance
The low cost airline published a trading update this week, noting that it expected full year profits to come in around £500m, well below the £564m which had bene forecast. The company blamed macroeconomic uncertainty as well as Brexit for the revision. Shares fell around 7.5% on Monday morning in response to the news.
Net income for Saudi Aramco
Saudi Arabia’s oil giant may no longer be considering an IPO of its shares, but it is pursing a bond sale, leading the company to publish full year results this week. The rising oil price has made for a bumper year, with the company comprehensively beating its closest rival Apple, who generated net income of ‘just’ $59.5 billion last year.
Lyft shares from last week’s peak
The rival to ride hailing service Uber floated on the stock market at the end of last week. After reaching a high of $85, the share price has been under pressure ever since, with the stock now trading at $70, below the IPO price of $72. Although revenues and user numbers continue to rise, mounting losses are presenting concerns as to how long it will take the company to become profitable.
Wiped off Saga’s valuation
The insurer to cruse operator with a focus on the over 50’s demographic surprised the market on Thursday by announcing a change in its strategy. This has necessitated a writing down of goodwill as it tries to rebuild its brand values. The shares came to market 4 years ago worth 185p each. After the news, the price had fallen to almost 70p.
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