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Tesla Nears Blue-Chip Status After S&P Upgrades Credit Score

7Oct

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Technology

Tesla Nears Blue-Chip Status After S&P Upgrades Credit Score

[ad_1] Tesla Inc. is one step closer to clinching overall blue-chip status after S&P raised its credit score to investment grade. Tesla Inc. is one step closer to clinching overall blue-chip status after S&P Global Ratings raised the electric-vehicle maker's credit score to investment grade. The Austin, Texas-based company's rating was upgraded to BBB on Thursday, two steps above junk, from BB by S&P, analysts Nishit Madlani and David Binns said in a statement. “We now view Tesla's credit profile more favorably because it continues to demonstrate market leadership in electric vehicles (EVs), with solid manufacturing efficiency that supports strong EBITDA margins and sustained positive free operating cash flow,” they wrote, referring to a measure of earnings before int...

Tesla’s Retail Fans Undeterred by Delivery Miss, Recession Fears

[ad_1] Over the last five trading days, net purchases of Tesla stock by retail investors stood at around $500 million. Even a disappointing quarterly delivery report from Tesla Inc. and the threat of a recession cannot keep the electric-vehicle maker's loyal retail investors from flocking to the company. After its third-quarter vehicle deliveries failed to meet analysts' estimates, Tesla's shares tumbled on Monday, closing down 8.6%. Still, that did not deter mom-and-pop investors and day traders, who raised their purchases in the stock, a report from Vanda Research shows. Over the last five trading days, net purchases of Tesla stock by retail investors stood at around $500 million, according to data compiled by Vanda. “Retail demand is pivotal for a sustained outperformance of...

Tesla Stock Rises as Unlikely Rival to Apple

[ad_1] In a year that has seen tech stocks battered, Tesla stock has emerged as an unlikely rival to Apple Inc. In a year that has seen high-flying technology stocks with lofty valuations battered, Tesla Inc. shares have emerged as an unlikely rival to Apple Inc. Of the five biggest US companies by market value, Tesla's shares are by far the most expensive, yet they're the only ones whose performance comes close to Apple's, which has been a rare bright spot for investors in the sector this year. Tesla is down 22% this year while Apple has fallen 15%. By contrast, Microsoft Corp., Alphabet Inc. and Amazon. com Inc. have all declined 29% or more, roughly the same as the Nasdaq 100 Index. On the surface, Tesla appears to be...