The bad news keeps rolling in for Tesla Inc (Nasdaq: TSLA). TSLA stock dropped 6.8 percent Thursday after investors learned that the GOP tax plan would eliminate a $7,500 federal tax credit that makes it easier to buy electric vehicles.
Alibaba Group Holding Ltd (NYSE: BABA) stock traded higher by 1 percent on Thursday morning after the company reported a big fiscal second-quarter earnings beat and raised its full-year guidance.
Apple Inc. (Nasdaq: AAPL) will report its highly anticipated fiscal fourth-quarter earnings on Thursday after the market closes, and investors will be looking for clarity from the company on early iPhone 8 and iPhone X demand and production.
Tesla Inc (Nasdaq: TSLA) investors’ recent woes continued on Wednesday afternoon when the company reported a larger-than-expected earnings loss in a third quarter that was marked by Model 3 production delays. Tesla also adjusted its Model 3 production targets heading into 2018.
The world’s largest casino gambling market just had its best month in three years. On Wednesday morning, Macau reported 22.1 percent gross gaming revenue growth in October, easily topping consensus analyst expectations of 14.5 percent growth.
Facebook, Inc. (Nasdaq: FB) will be the last of the FANG stocks to report third-quarter earnings on Wednesday after the market closes. So far, earnings season has been kind to Amazon.com (AMZN), Netflix (NFLX) and Alphabet (GOOG, GOOGL).
Under Armour Inc (NYSE: UA, UAA) stock crashed 13 percent to its lowest level in more than four years on Tuesday after the company aggressively cut its full-year earnings and revenue guidance. Under Armour has been dealing with slowing growth for roughly two years now, and the company’s third-quarter earnings report provided no indication of a near-term turnaround.
This is supposed to be a big week on Wall Street, with focus on a tax reform plan, a two-day meeting of the Federal Open Market Committee and President Donald Trump’s expected announcement of a new Federal Reserve chair.
General Motors Company (NYSE: GM) stock has been on quite a run, up more than 24 percent over the past three months. However, GM shares were down more than 3 percent on Monday after Goldman Sachs downgraded the stock to “sell” and said GM stock has a 28 percent downside from its current price.
Tesla Inc (TSLA) stock sold off by more than 5 percent last week ahead of the company’s unpredictable third-quarter earnings report expected on Wednesday. Investors are bracing for what will likely be a difficult quarter or two after Tesla reported it had fallen behind its production schedule in September.