Intel, Ford, Roku, Reata, Exxon, Enphase, and More of Friday’s Stock Market Movers
The Dow and S&P 500 each notched their third consecutive week of gains, as traders sorted through a flurry of earnings reports and economic data.These stocks made moves Friday:Shares of Intel (ticker:
Tesla Discounts Set to Power Quarterly Revenue Growth, Hit Profit
- Tesla's strategy to boost sales through price cuts is likely to have powered its strongest revenue growth in five quarters while dragging down margins to a three-year low in the April-June period.The Elon Musk-led electric-vehicle maker has since late last year launched a price war to stoke demand and quell competition from legacy automakers such as Ford Motor and Chinese rivals including BYD.Tesla's earnings on Wednesday are expected to show its gross profit margin declined to 18.9% in the second quarter, according to 19 analysts polled by Visible Alpha. That is a drop from 20.2% in the previous quarter and 25.9% a year earlier."It is clear they are very much a car company with the same supply chain and demand pressures as other manufacturers. They even have a growing inventory of their three- and six-year-old design Model 3s and Model Ys and really seem to have hit a certain saturation point on demand.". Piper Sandler estimates Tesla's revenue from its charging network to hit $9.6