The electric-car maker is on the road to becoming the first rival to break the hold of Detroit's Big 3 in the public's imagination. Can it sustain this success?
To say that Tesla Motors (TSLA) has been a wild ride in recent weeks would be an understatement. The company is now profitable, and Wall Street analysts are falling over themselves to raise price targets on the stock. Tesla is no longer referred to as an electric car manufacturer. It's being referred to by one analyst as America's fourth car manufacturer.
Morgan Stanley analyst Adam Jonas raised his price target to $103 from $47, reiterating his "overweight" rating on the shares, noting that Tesla has addressed fundamental concerns about its market. "Competency in technology is migrating to engineering, manufacturing and marketing," Jonas wrote in a research note. "Detroit, Munich, Wolfsburg and Toyota City must feel a sense of astonishment . . . with a hint of anxiety."
A full-fledged recovery will take time and arrive in 3 stages, according to one analyst, who sees the recent dividend hike as the first stage in the company's turnaround.
Much has been made of the decline in Apple's (AAPL) share price, from $700 in September to below $400 this spring. That fall has prompted more than a few analysts and investors to write off the the company and the stock. Others, however, want to know whether a recovery may be at hand.
It is, if you believe one Wall Street analyst.
Brian White at Topeka Capital Markets has identified what he calls Apple's three-pronged approach to achieving a sustainable recovery in the price of its shares: Returning cash to shareholders; a rebound from a trough in the company's profit cycle; and new areas of growth.
The greatest takeaway from examining 4 decades of data on music sales and revenue is the record industry's success in reinventing itself in the face of technological change.
When Liz Kennedy informed me I had access to data on every music industry sale over the past 40 years, I had no idea it would feel this sad.
As director of communications for Recording Industry Association of America, Kennedy is the gatekeeper to the Industry Shipment Statistics database.
Here, since 1973, the RIAA has kept a running tab of music sold in all formats -- compact discs, vinyl records, casette tapes, downloaded singles -- by such industry heavyweights as Warner Music Group, Sony Music Entertainment and Universal Music Group.
Tech stocks are out of favor, and cheap as a result. But the sector should get a boost -- starting in the year's second half -- as corporations start spending their IT budgets.
As a matter of fairness, Congress should pass an Internet sales tax bill. But the final bill should fix problems for retailers having to deal with tax codes from multiple jurisdictions.
The Senate on Monday passed the Marketplace Fairness Act on a 69-27 vote, empowering states to collect sales taxes for out-of-state purchases made online. The legislation is expected to face a bigger hurdle in the House. Though flawed, the House should improve the measure and then approve it.
I don't like the idea of state and local governments collecting more tax revenues -- they know no limits to their capacity to squander our hard-earned dollars. But the current situation is unfair, and bad economic policy.
In 1992, the U.S. Supreme Court held that states did not have the power to levy taxes on online sales unless the retailer has a physical presence in their state. Consequently, major online retailers like L.L. Bean routinely collect the appropriate state sales taxes in jurisdictions where they have a store or warehouse but do not on sales in states where they do not have a physical presence.
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[BRIEFING.COM] The headlines generally favored Tuesday being another good day for the stock market. Instead, it was just a mixed day with modest point changes on either side of the unchanged mark for the major indices.
For the most part, the stock market was a sideshow. The main trading events were seen in the commodity and Treasury markets, both of which saw some decent-sized losses within their respective complex.
Dollar strength was at the heart of the weakness in ... More
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