Yesterday Tesla reported its second quarter financial results: Tesla’s quarterly loss was less than expected while revenue expectations, but the company has cut its outlook for vehicle deliveries. The electric car maker now expects to deliver between 50,000 and 55,000 cars this year, which suggests the ultimate number will be lower than the 55,000 primary forecast. Now analysts reactions following the results were mixed: according to business insider, of the seven analysts notes reviewed by it, 4 were bullish with an “Outperform” or “Buy” rating. Three analysts were “Neutral,” while Bank of America Merrill Lynch is down on the stock with a “Sell” rating.
First Solar Inc. (NASDAQ:FSLR)
In Q2, First Solar nearly tripled Wall Street’s per-share earnings forecast and posted $896 million in revenue, up 65% from the year-earlier quarter and well ahead of analyst views of $752 million. Jeffrey Osborne, Cowen & Co. analyst, upgraded his rating to outperform and raised his price target to 65 from 62.
Before the Q2 beat, Osborne said he was “on the sidelines” in terms of First Solar stock. His unease was due, in part, to a big hole in 2017 relative to First Solar’s peers and the company’s lack of commercial and industrial exposure. Wednesday marked a six-week high for First Solar stock, which surpassed 53. In late-afternoon trading in the stock market today, First Solar stock was up more than 17%, above 52. SunEdison stock was up nearly 2% in late-afternoon trading Wednesday, near 23, but it’s down from above 33 on July 20, the day it launched its yieldco.
First Solar was the top gainer in the S&P 500 on Wednesday. Shares of the solar-panel maker surged over 16% following Tuesday night’s earnings release. The good news sparked a huge upside gap on the open that pushed the stock well past its July peak. By Wednesday’s close, First Solar had attracted almost five times its average daily volume and had clearly broken a three-month downtrend.
Zillow Group is positioning itself to take the lead in bringing the entire home-buying process online. During a Tuesday call with investors, Zillow CEO Spencer Rascoff revealed Zillow’s reasons for acquiring DotLoop, a Cincinnati-based company that aims to simplify real estate transactions by enabling brokerages, real estate agents, and their clients to share, edit, sign and store documents digitally, and what Zillow plans to do with DotLoop.
“DotLoop is very exciting for us,” Rascoff said during the call. “There is no question that real estate transactions are moving online, any of you who have bought a home, know that signing hundreds of pages of documentation is a burden and that the day of the paperless transaction is here now, and DotLoop is the clear leader in the category.” Rascoff said that Zillow’s acquisition of DotLoop allows the company to provide increased value to the industry by bringing the paper-heavy real estate transaction online, from “the creation of a listing agreement to the submission of offers to the actual closing.”
The acquisition price was not disclosed when Zillow first announced the DotLoop deal, nor did Rascoff discuss the price during the call Tuesday, but Zillow did disclose the price its paying for DotLoop in a Tuesday filing with the Securities and Exchange Commission. The deal is expected to close during the third quarter, and Rascoff said that Zillow’s choice to pay for DotLoop in cash is an indication of the company’s belief in its potential. Following to Rascoff’s declarations, this is just the beginning, he said that nearly half a million people per month sign real estate documents using DotLoop, and the potential for the service is exponential.
In a recent article, I Know First research stated that the stock will provide solid returns in 2015 before massive gains in 2016 and beyond, stating that the current stock forecast on Zillow is bullish with a signal of 97.61 and a predictability indicator of 0.48 for the 3 months time horizon, resulting in even stronger signal and predictability for the 1 year time horizon.