Citing a record 7,785 sales of its electric Model S, Tesla Motors beat estimates and cleared up some questions about demand Wednesday, but raised other worries in its third-quarter earnings report after the closing bell. Tesla trimmed deliveries guidance for the year from 35,000, which would’ve been up 56% year over year, to 33,000. But CEO Elon Musk tied that to production constraints. Tesla had forecast 7,800 Q3 deliveries. It
Alibaba Group stock hit a new high Tuesday after China’s e-commerce leader reported accelerating revenue growth with strong gains in mobile and user engagement. Investors looked past decelerating earnings growth and shrinking profit margin, as Alibaba (BABA) shares rose 4% to 106.07, a new high for a second straight day. The stock has risen 28% since its post-IPO low set on Oct. 15. Alibaba earned 45 cents a share minus items,
Two top-rated midsized drugmakers delivered sharply different third-quarter reports Tuesday, sending their stocks in opposite directions. Jazz Pharmaceuticals (JAZZ), reporting after the close, said earnings rose 31% over the year-earlier quarter to $2.33 a share, beating the consensus view by 11 cents, according to Thomson Reuters. Sales climbed 32% to $306.6 million, about $4 million above analysts’ estimates. The company