It's almost Friday, right?
But, before we dive into the top stories from today, let's take a moment to remember those who lost their lives 17 years ago on Tuesday, Sept. 11.
Here are some of the top stories on TheStreet.
Musk's Tweet Hits the Stock...Again
Elon Musk, CEO, tweeted that he was removing two of the seven colors from Tesla's cars.
TheStreet's Martin Baccardax reported that the colors, obsidian black and metallic silver, would still be available for potential buyers, but at a higher price than the other models. The decision follows one of the best days for Tesla (TSLA - Get Report) shares in nearly a month yesterday as investors reacted to analysts' reports that suggested the Palo Alto, Calif.-based group would meet Model 3 production targets over the second half of this year.
"We are about to have the most amazing quarter in our history, building and delivering more than twice as many cars as we did last quarter," Musk wrote in an email to employees that was widely circulated Monday.
Tesla shares were marked 3.3% lower Tuesday and changing hands at $276.01 each, a move that stills leave the stock some $16 higher than Friday's low but still 34.3% shy of Musk's now-abandoned target to take the company private at $420 per share.
Analysts are expecting the group to report a third-quarter earnings per share loss of 42 cents next month before rebounding sharply to 74 cents a share in the final three months of the year. However, with a cash burn rate of $739 million last quarter, any chance of meeting profitability estimates will rest on the group's ability to push Model 3 production closer to its 6,000 target in order to generate faster end sales and deeper quarterly cash flows.
Oh, Elon. Maybe tweeting isn't the best idea.
Jim Cramer's Take on AMD
Here's his hot take on AMD. Trust me, it's better to have him explain it than have me try to break it down.
Investors are Ignoring Risks
TheStreet's Bradley Keoun talks to Suzanne Hutchins about investors' complacency.
"There's a lot to worry about right now," Hutchins says in a phone interview. "The market is complacent."
Based on the recent performance of the Standard & Poor's 500 Index of U.S. stocks, she's right that investors, as a whole, look unbothered. The index is up 7.6% this year and set a record in August for the longest bull market in history—at more than 113 months. The S&P 500 is currently trading at about 20 times the past 12 months' earnings, well above the 10-year average of 16.18.
Such a multiple might be indicative of how well the U.S. economy is performing thanks to the stimulus from Trump's $1.5 trillion of tax cuts in December. Or it might just mean that, for stock traders, the biggest gains are over.
"The U.S. economy looks in pretty good shape but we think the market has priced it in," Hutchins said. "We've been taking risk off the table as markets have trended higher."
It's a classic trope of fund managers to claim that markets have fully digested some factors, while completely missing others—book-talking 101, as it were. But maybe she's onto something.
Whew. That's a lot to digest. That's a wrap for today, folks.
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