Shares of Tesla Motors Inc (NASDAQ:TSLA) ended Monday session in green amid volatile trading. The shares closed up +9.67 points or 4.74% at $213.70 with 6.00 million shares getting traded. Post opening the session at $212.30, the shares hit an intraday low of $208.25 and an intraday high of $215.67 and the price vacillated in this range throughout the day. The company has a market cap of $32.30 billion and the numbers of outstanding shares have been calculated to be 148.69 million shares.
Tesla Motors Inc (TSLA) delivered approximately 24,500 vehicles in Q3, of which 15,800 were Model S and 8,700 were Model X. This was an increase of just over 70% from last quarter’s deliveries of 14,402. Our Q3 delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct.
In addition to Q3 deliveries, about 5,500 vehicles were in transit to customers at the end of the quarter. These will not be counted as deliveries until Q4.
Production rose to 25,185 vehicles in Q3. This was an increase of 37% from Q2 production of 18,345.
We expect Q4 deliveries and production to be at or slightly above Q3, despite Q4 being a shorter quarter and the challenge of delivering vehicles in winter weather over holidays. Guidance of 50,000 vehicles for the second half of 2016 is maintained.
Finally, we note that starting in Q3, our quarterly financial releases will no longer include non-GAAP revenue and related financial metrics resulting from vehicles leased through our banking partners or that include resale value guarantees. We will, however, continue to provide additional supplemental information to investors to provide insights into our business.
Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.
Shares of PepsiCo, Inc. (NYSE:PEP) ended Monday session in red amid volatile trading. The shares closed down -0.52 points or -0.48% at $108.25 with 4.57 million shares getting traded. Post opening the session at $108.77, the shares hit an intraday low of $107.47 and an intraday high of $108.83 and the price vacillated in this range throughout the day. The company has a market cap of $156.71 billion and the numbers of outstanding shares have been calculated to be 1.43 billion shares.
PepsiCo, Inc. (PEP) announced that its Board of Directors has elected Darren Walker as an independent member of the Board.
Mr. Walker, 56, currently serves as President of the Ford Foundation, the second largest private foundation in the United States, and also chairs the United States National Advisory Board on Impact Investing.
“Darren’s unique understanding of business and social issues has made him a respected leader across sectors for more than two decades,” said PepsiCo Chairman and CEO Indra Nooyi. “His insight into the role of business in society will be particularly valuable as we continue to drive our Performance with Purpose agenda and pursue strategies to drive sustainable long-term growth.”
Prior to joining the Ford Foundation in 2010, Walker served as Vice President at the Rockefeller Foundation since 2005, where he oversaw numerous initiatives, including the effort to rebuild New Orleans following Hurricane Katrina.
Walker also served as chief operating officer of the Abyssinian Development Corporation, Harlem’s largest community development organization, from 1995 to 2002. During his tenure, he oversaw a comprehensive revitalization program resulting in more than 1,000 new units of housing, Harlem’s first commercial development in twenty years and New York’s first public school built and managed by a community organization.
Earlier in his career, Walker worked in international law and finance at Cleary Gottlieb Steen & Hamilton and UBS.
“We welcome Darren to the PepsiCo Board of Directors,” said Ian Cook, Presiding Director. “His experience and expertise across sectors will further strengthen the Board and our ability to create shareholder value.”