Author Archives: Scalper1

Tesla Supplier Mobileye Beats On Earnings, Stock Falls

Mobileye ( MBLY ), the provider of advanced driver assistance systems that includes luxury electric carmaker Tesla Motors ( TSLA ) as a customer, reported better-than-expected first-quarter earnings Thursday. Mobileye reported revenue of $75.2 million, up 65% year over year and topping the consensus estimate of $73.3 million, but it was the second quarter in a row of revenue deceleration. The Jerusalem-based company reported adjusted earnings of 15 cents a share, a penny above the consensus estimate as polled by Thomson Reuters and up 88% year over year. Mobileye stock was down 5.5%, near 34.55 during morning trading in the stock market today . The stock is up 47% since hitting an all-time low of 23.57 on Feb. 9. “Our first-quarter results highlight consistently solid performance on the current business and continued investment into recently-announced innovative technologies,” said Chief Executive Ziv Aviram, in a statement with the earnings release. “Our EyeQ4 chip is achieving excellent performance ahead of its official launch on already sourced programs for 2018, while we are in advanced development of our fifth generation EyeQ chip planned to be launched in 2020.” Mobileye said EyeQ chip volume increased 62% year over year. Tesla, General Motors ( GM ), Ford Motor ( F ) and other automakers, along with tech giants like Alphabet-owned Google are racing to develop autonomous, self-driving car technology. Mobileye’s backup cameras and other high-tech gear are seen as key to such systems. According to one news report , Tesla Chief Executive Elon Musk was at Mobileye’s headquarters last month. Musk allegedly viewed demonstrations of new Mobileye technology out in the field. Tesla reported a first-quarter loss that was smaller than expected. But the big news was that Tesla plans to hit its annualized production target of 500,000 vehicles by 2018, two years earlier than previously planned.

3D Systems Margins Jump, But Stock Falls On Revenue Miss

3D Systems’ ( DDD ) adjusted Q1 earnings were flat at 5 cents a share, in line with consensus views. But revenue dipped 5% to $152.6 million, missing views of $156.3 million. Gross margin soared 170 basis points to 50.8%, due mainly to 3D Systems’ shift away from consumer products. Shares of 3D Systems jumped 6% before the open, but fell 5.9% to 13.66 in morning trade on the stock market today . Shares of rival Stratasys ( SSYS ) sank 3.3%. Stratasys reports earnings next week.

Tesla Stock Quickly Reverses Lower As Analysts Doubt 2018 Target

Tesla Motors ( TSLA ) shot up after hours Wednesday in the wake of its quarterly report, but shares have quickly reversed lower in the stock market today . The luxury electric car maker says it will produce 500,000 cars annually by 2018, two years sooner than Tesla previously estimated. Deutsche Bank maintained its hold rating on Tesla and raised its price target to 290 from 280. The analyst says the 2018 production goal might be too optimistic, and sees 355,000 units produced that year. Meanwhile, Baird reiterated its outperform rating and raised its price target from 300 to 338, citing the improvement of Model X production issues and several upcoming catalysts. But the analyst also models a lower delivery count than Tesla for 2018, at 300,000. Tesla shares rose initially but quickly reversed lower, crumbling 3.3% intraday on the stock market today . The stock is dropping below the 200-day line and hitting its lowest level in more than a month. Tesla is now about 23% below its high reached last July. Mobileye Meanwhile, Tesla partner Mobileye ( MBLY ) beat quarterly earnings expectations early Thursday. But the maker of advanced driver assistance systems is breaking below its 50-day line, losing 5%, after finding support around that level in Wednesday’s session. Mobileye shares are trading at 45% below their high reached last August. Nvidia And Tesla chip supplier Nvidia ( NVDA ) is looking for support at its 50-day line for a second session, rising fractionally intraday. Shares are now extended about 6% from a buy point that Nvidia cleared in March, and about 6% below its all-time high reached a few weeks ago. Nvidia reports quarterly results next week.