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Tesla Inc (TSLA.O)

TSLA.O on Nasdaq

263.16USD
24 Mar 2017
Change (% chg)

$8.38 (+3.29%)
Prev Close
$254.78
Open
$255.70
Day's High
$263.89
Day's Low
$255.01
Volume
5,647,253
Avg. Vol
4,919,124
52-wk High
$287.39
52-wk Low
$178.19

Latest Key Developments (Source: Significant Developments)

Tesla upsizes stock offering to 1.3 mln shares
Friday, 17 Mar 2017 07:49am EDT 

Tesla Inc : upsizes stock offering to 1.3 million shares . says stock offering priced at up to $262 per share .says offering $850 million convertible senior notes due 2022, up from $750 million announced earlier.  Full Article

Tesla announces offerings of common stock and convertible senior notes
Wednesday, 15 Mar 2017 04:30pm EDT 

Tesla Inc : Tesla announces offerings of common stock and convertible senior notes . Says elon musk, tesla's ceo, will participate by purchasing $25 million of common stock . Tesla inc - offerings of $250 million of common stock and $750 million aggregate principal amount of convertible senior notes due in 2022 . Says aggregate gross proceeds of offerings, including options granted to underwriters, is expected to be approximately $1.15 billion .Tesla-Intends to use net proceeds from offerings to reduce any risks associated with rapid scaling of its business due to launch of model 3 among others.  Full Article

Tesla Inc updates on Gigafactories, capital spend
Wednesday, 1 Mar 2017 05:35pm EST 

Tesla : Tesla-Have agreement to spend or incur about $5 billion in combined capital, other costs in New York state during 10-years after full production at Gigafactory 2 . Tesla - Gigafactory 1 is currently expected to attain full production capacity by 2020 . Tesla - Determined that it was reasonably possible that adverse changes in exchange rates of 10% for all currencies could be experienced in near term . Tesla - Gigafactory 1 full production capacity anticipated to be sufficient for production of about 500,000 vehicles annually as well as for co's energy storage products . Tesla - Gigafactory 1 will allow co to achieve significant reduction in cost of battery packs once co is in volume production with Model 3 . Tesla - As of December 31, 2016, co had 17,782 full-time employees .Tesla - Co had earlier reported 13,058 full-time employees as of December 31, 2015 - SEC filing.  Full Article

SolarCity reports FY 2016 net loss of $820.4 million
Wednesday, 1 Mar 2017 05:19pm EST 

SolarCity Corp: Says FY revenue was $730.3 million versus $399.6 million last year . Says FY net loss was $820.4 million . SolarCity, owned by Tesla Inc, says its total consolidated indebtedness was $3,580.4 million as of December 31, 2016 - SEC filing . Says anticipate significantly reduced expenditures related to manufacturing operations at Riverbend manufacturing facility in Buffalo, New York . Says agreed to spend or incur about $5 billion in combined capital, costs in state of New York during 10-year period following full production of Riverbend manufacturing facility . Says expect significantly reduced expenditures at Riverbend facility as a result of manufacturing relationship with Panasonic . Says as of December 31, 2016, company had approximately 12,243 total employees compared with 15,273 total employees as of December 31, 2015 . Says anticipate commencing solar module and solar roof manufacturing in the second half of 2017 with photovoltaic cells sourced from Panasonic . Says "working towards ramping production to 1 gigawatt of solar cell production by 2019" . Says identified potential modifications to manufacturing equipment, factory layout related to solar cell manufacturing line at Buffalo Plant.  Full Article

Tesla posts 4th-qtr adjusted loss of 69 cents per share
Wednesday, 22 Feb 2017 04:15pm EST 

Tesla Inc : Model 3 on track for initial production in July, volume production by September . Expect to deliver 47,000 to 50,000 Model S and Model X vehicles combined in the first half of 2017 . Quarterly GAAP loss per share of $0.78 . Quarterly non-GAAP loss per share $0.69 . Q4 total revenue $2.28 billion versus $1.21 billion a year ago . Q4 earnings per share view $-0.43, revenue view $2.18 billion -- Thomson Reuters I/B/E/S . Quarterly vehicle deliveries 22,252 versus 17,478 . Model 3 and solar roof launches are on track for the second half of the year . Q4 total gross margin 19.1 percent versus 18 percent . Quarterly vehicle production 24,882 versus 14,037 . Says GAAP and non-GAAP automotive gross margin should recover in Q1 to Q3 2016 levels and then continue to expand in Q2 2017 . In Q1 2017, began pushing over-the-air software updates to all Autopilot-equipped cars to further increase performance and safety . Tesla says it will prioritize profitability, cash preservation over total MW deployed ahead of solar roof launch in energy generation and storage unit . Starting in Q4, co reclassified revenue, cost of revenue of energy storage products from 'services and other' into 'energy generation and storage' . Later this year, expect to finalize locations for Gigafactories 3, 4 and possibly 5 . All Tesla vehicles in production have the hardware necessary for "full self-driving" . Q3 to Q4 cash increased by over $300 million to $3.4 billion.  Full Article

Morgan Stanley upgrades Tesla Motors to overweight
Thursday, 19 Jan 2017 12:38am EST 

Tesla Motors Inc : Morgan Stanley raises to overweight from equal weight . Morgan Stanley raises price target to $305 from $242 . Morgan Stanley upgrades on less cautious Model 3 volume estimate, acceleration in ev market assumptions . Morgan Stanley says now assume a 'soft' model 3 launch in q4'17; raises FY18 volume forecast to 183,000 from 114,000 units Further company coverage: [TSLA.O] (Bangalore.newsroom@thomsonreuters.com).  Full Article

Tesla's 2016 production up 64 pct from 2015
Tuesday, 3 Jan 2017 04:36pm EST 

Tesla Motors Inc : Tesla Motors Inc - Tesla produced 24,882 vehicles in Q4, resulting in total 2016 production of 83,922 vehicles, an increase of 64 percent from 2015 . Tesla delivered about 22,200 vehicles in Q4, of which 12,700 were model s and 9,500 were model X . Total 2016 Tesla deliveries were approximately 76,230 . Tesla - Due to short-term production challenges from end Oct. to early Dec. From transition to new autopilot hardware, Q4 vehicle production weighted more heavily to Q4 end . Tesla - Delay in production resulted in challenges impacting Q4 deliveries, including cars missing shipping cutoffs for Europe and Asia . Tesla Motors says Q4 net orders for model S and X were 52 percent higher than Q4 2015 and 24 percent higher than Q3 2016 Further company coverage: [TSLA.O] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

Tesla Motors enters into fifth amendment to ABL credit agreement, dated as of June 10, 2015
Tuesday, 20 Dec 2016 05:18pm EST 

Tesla Motors Inc : Amended credit agreement to permit borrowers to obtain up to $50 million of additional commitments pursuant to terms of credit agreement . Warehouse agreement amendment increased maximum facility limit under warehouse agreement from $300 million to $600 million . On December 15, entered into fifth amendment to ABL credit agreement, dated as of June 10, 2015 . Credit agreement amendment increased revolving commitments under credit agreement by $200.0 million, increasing it to $1.2 billion .On Dec 15, 2016, Tesla Finance LLC (TFL) and Tesla 2014 Warehouse SPV LLC entered amendment no. 2 to loan and security agreement, dated Aug 31, 2016.  Full Article

Tesla Motors to buy Grohmann Engineering
Tuesday, 8 Nov 2016 06:30am EST 

Tesla Motors Inc : Says has entered into an agreement to acquire Grohmann Engineering . Says Grohmann Engineering will become Tesla Grohmann Automation . Says expect to add over 1,000 advanced engineering and skilled technician jobs in Germany over the next two years- blog Source http://bit.ly/2fz3dUW ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Tesla,Solarcity to hold Q&A webcast to discuss pending acquisition
Monday, 31 Oct 2016 10:13pm EDT 

Tesla Motors Inc : Question & answer webcast to discuss Tesla's pending acquisition of Solarcity .Tesla - Co, Solarcity will hold 30-minute live question & answer webcast on November 1 at 2:00pm Pacific Time to discuss additional information..  Full Article

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Tesla to take orders for solar roof tiles starting April

Tesla Motors Inc will start taking orders for its solar roof tiles in April, Chief Executive Elon Musk said in a Tweet on Friday.