There was a lot to consider in Tesla (TSLA) CEO Elon Musk's wide-ranging interview with The New York Times.
He works a 120-hour workweek (typical week for news editors and reporters); he enjoys Sanofi's (SNY) Ambien to fall asleep; he is willing to give up the CEO job if someone could do a better job than him (there are people out there, Elon).
But the big takeaway from the interview was that Musk needs help in the C-suite and he needs it immediately, both for his health and the health of shareholders. Musk interestingly said that Tesla approached Facebook (FB) Chief Operating Officer Sheryl Sandberg a few years ago with no luck.
Now is the time to approach her again.
Sandberg certainly has had a tough year at Facebook along with Mark Zuckerberg. Given her tenure at the social media giant, it could be time to wave goodbye and take on the role of turning Tesla into a real company. Sandberg is no stranger to working with eccentric tech geeks and would be the grown-up in the C-suite that Tesla needs. Her experience dealing with lawmakers also would be welcomed given Tesla being in increasingly hot water with them.
Get it done Elon.
Your Weekend Deep Thought
Plan today, or risk having your portfolio shredded before Christmas. While second-quarter earnings season was stellar by most measures, the world's biggest companies didn't exactly hide their concerns on second-half business trends. It's just that one had to look closely to find well-paid executives telegraphing possible second-half profit margin slowdowns and shaky 2019 outlooks.
"Following another excellent S&P 500
What, you thought the Dow's 400-point move on Thursday was the start of a 2,000 upside swing by next week? Nah. Have a lovely weekend thinking about all this stuff.
Speaking of rising costs, Stanley Black & Decker (SWK) CEO James Loree told TheStreet he has lifted prices in the fourth quarter to alleviate margin pressure. "We are passing them [cost increases] onto the end user. We have no choice other than to let our profit margins collapse, and we aren't going to do that," Loree said. Start saving up for Dad's 10th cordless drill to put under the Christmas tree.
TheStreet's newsroom was all in on Thursday evening on earnings from Wall Street's favorite chip stock, Nvidia (NVDA) . I am personally Nvidia-ed out and totally cool not hearing anything about this company for the next three months (that will unlikely happen). TheStreet's tech columnist @EricJhonsa and Action Alerts PLUS analyst @ZevFima shared real-time analysis via a live blog. Yours truly and @JacobSonenshine taped a bull vs. bear debate. Sonenshine is an Nvidia bull, yours truly is an Nvidia bear if for no other reason than I am weary f hearing about the company. Nvidia shares are down 3.5% in premarket trading.
Jim Cramer's Action Alerts PLUS research team drops the mic on Nvidia with this headline to members: "We Still See Significant Upside With Nvidia." Facebook will likely close the week trading below all three key moving averages. Rumors swirling that researcher 7Park put out a note showing Facebook's minutes per user were decelerating. 7Park told TheStreet it published no such note.
Wells Fargo analyst Bonnie Herzog (who is plugged in very well to her coverage) is fresh off a meeting with Procter & Gamble (PG) CEO David Taylor and Chief Financial Officer Jon Moeller. Can you say red flags?
"We still believe PG is on the right track, but remain concerned with slow progress despite a focus on improving speed and agility. We also continue to see limited near term positive catalysts as fiscal year 2019 guidance is second half weighted, with pricing not being realized until late fiscal year 2019," said Herzog.