Tesla today released their Q3-2020 vehicle delivery and production report, announcing record deliveries of 139,300 vehicles and record production of 145,036 vehicles during the third quarter. Deliveries were up 53% from the second quarter’s 90,891 vehicles, while production grew 76% from a coronavirus-constrained Q2 production number of 82,272 vehicles. Wall Street had expected deliveries of 136,350 vehicles according to FactSet.

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Delivery and production results were both quarterly records for Tesla, outpacing Q4-2019 by 24% and 38%, respectively. For the first time in Tesla’s history, the company was able to produce and deliver more than 10,000 vehicles per week.

Tesla has now delivered 318,687 vehicles year-to-date, up 25% to last year despite coronavirus-related production shutdowns in the first half of the year. Heading into Q4, Tesla will need another record quarter, about 181,000 deliveries, to meet their pre-pandemic 2020 guidance of 500,000+ deliveries.

With production ramping up in Giga Shanghai and on Model Y in Fremont, Tesla may still have a shot. At Tesla’s annual shareholder meeting last week, Tesla CEO Elon Musk said Tesla’s 2020 deliveries would likely grow 30% – 40% to last year, implying a range of 478,000 to 515,000 deliveries.

With Q3 deliveries in the books, investors will now turn their attention to Tesla’s Q3 earnings report which will likely be released after market close on Wednesday, October 21 or Wednesday, October 28.

For more on Tesla’s record quarter, please see the included video and be sure to follow Tesla Daily on The Street.

Disclosure: Rob Maurer is long TSLA stock and derivatives.

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The Dow is down over 100 points Friday morning in trading after President Trump tested positive for Covid-19. The S&P 500 and Nasdaq are also down in trading on Friday. 

In the last episode of Mad Money, Jim Cramer said America might need a stimulus bill, but the stock market definitely doesn’t.

TheStreet’s Katherine Ross and Cramer are on Street Lightning talking about Tesla shares rising, stimulus deal, Airlines’ layoffs, and buying Bed Bath & Beyond Earnings.

Bed Bath & Beyond: Buy or Sell?

Bed Bath & Beyond  (BBBY) – Get Report shares are up about 40% so far, helped along by the stock’s 33% gain on Thursday. The move came after the company delivered better-than-expected earnings.

The struggling retailer generated non-GAAP earnings of 50 cents a share, easily beating expectations by 79 cents. Revenue of $2.69 billion sank just 1.1% year over year and beat expectations by $70 million.

Group revenues, the company said, were essentially flat to last year at $2.7 billion, but topped analysts’ forecast of a $2.6 billion tally thanks in part to an 89% annual increase in online sales.

The company improved financial performance through its digital transformation, reducing its cost structure, and enhancing financial flexibility, according to CEO Mark Tritton.

Cramer believes that Bed Bath & Beyond will survive post-pandemic because it reinvented its franchise.

Tesla Stock: Buy or Sell?

Tesla  (TSLA) – Get Report has been looking for a stake up to 10% in South Korean conglomerate LG’s battery operation, LG makes batteries in its LG Chem division, but the battery business is being spun off into a new company – LG Energy Solutions. If the deal happens, Tesla would take a piece of LG Energy Solutions.

Tesla reported that car deliveries for the past three months set a

The first presidential debate between Donald Trump and Joe Biden took place last night. It was an acrimonious, chaotic, and insulting debate.

Presidential Debate: Trump Vs. Biden

The global stock market has become even more concerned following this debate, and investors are largely ignoring all other major fundamentals, such as the worsening coronavirus situation in Europe and strong economic numbers out of China.

The U.S. futures moved higher during the debate as investors saw Joe Biden displaying his strong position against Donald Trump, but the Dow Jones took a complete U-turn after the debate because investors believe that if Trump losses the election, the transition of power is not going to be smooth.

The presidential debate reinforced the market concerns that Trump isn’t going to accept his defeat that easily. This creates the biggest risk for not only the U.S. stock market rally, but we are seeing the global stock market take a nose-dive today.

 

Stock Market Today

Over in Asia, the stock market closed in negative territory. The Shanghai index declined by 0.20%. The Nikkei stock index also moved lower by 1.50%, while the Korean Kospi soared 0.86%. Hong Kong’s HSI Index increased by 1.02%. 

 

Coronavirus Update

The coronavirus situation continues to deteriorate over in Europe as new cases are surging. The total global number of Covid-19 cases is now



a blue car parked in a parking lot: Nio


© Nio
Nio

  • Deutsche Bank lifted its profit and sales forecasts for Chinese electric car manufacturer Nio on Tuesday, citing the company’s promising move into the premium autos sector.
  • In a note probing whether Nio can be “the next iconic auto brand,” analysts led by Edison Yu cited growing favorability in the expanding Chinese market.
  • One recent study found Nio boasts higher odds of customer referral in the country than Tesla, BMW, and Mercedes Benz.
  • Deutsche Bank reiterated its “buy” rating and $24 target price for Nio shares. The target implies a 28% leap from Monday’s closing level over the next 12 months.
  • Watch Nio trade live here. 

Nio may not have the intense following enjoyed by industry leader Tesla, but Deutsche Bank thinks the electric car manufacturer can quickly dominate the expanding Chinese market.

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In a Tuesday note delving into whether the company can become “the next iconic auto brand,” analysts led by Edison Yu highlighted Nio’s growth in the competitive electric-vehicle market. For one, sales are trending higher. The team projected record third- and fourth-quarter deliveries and raised its estimates for full-year sales and earnings.

“As [battery-powered electric vehicle] adoption increases and word of mouth spreads, we believe Nio can take material share in the premium segment as consumers begin to understand the value proposition and quality of its products and services,” Deutsche Bank said.

Read more: JPMORGAN: The best defenses against stock-market crashes are delivering their weakest results in a decade. Here are 3 ways to adjust your portfolio for this predicament.

The lifted forecast backs the firm’s “buy” rating and $24 price target for Nio shares. That target implies a 28% rally from Nio’s Monday closing level over the next 12 months.

Nio gained as much as 7% following the note’s release.

Some investors

  • Walmart Canada more than tripled its preorders of Tesla Semi trucks, increasing its reservations to 130 vehicles. 
  • The company intends to electrify 20% of its fleet by 2022, and to run its entire fleet on alternative power by 2028. 
  • Tesla originally said the Semi would be available in 2019, but now says deliveries will start next year. 
  • Visit Business Insider’s homepage for more stories.

In recent weeks, headlines in the electric-truck space have been filled with Nikola — a startup contending with fraud allegations, a Department of Justice inquiry, the exit of its controversial founder, and a plummeting share price.

But look a little further and the Tesla Semi, currently the subject of a lawsuit from Nikola over patent infringement, just upped its order count. 

Walmart Canada announced Tuesday that it had more than tripled its reservations of the electric 18-wheelers, upping its total number of Semi orders to 130. Walmart Canada reserved 10 Semi trucks following Tesla’s reveal of the new truck back in November 2017, and ordered 30 more the following year. 

“Tripling our reservation of Tesla Semi trucks is part of our ongoing effort to innovate the business and prioritize sustainability,” said John Bayliss, senior vice president of logistics and supply chain at Walmart Canada. 

The electric Tesla Semis will reduce Walmart Canada’s operating costs while improving the sustainability of its fleet, the company said. Walmart Canada also cited the Semi’s safety features — including emergency braking, lane-keep assist, and lane-departure warning — as reasons for making the switch. 

The new order comes as part of Walmart Canada’s plan to convert 20% of its fleet to electric by 2022, and to run its entire fleet on alternative power by 2028. 

The company’s parent organization, Walmart Inc., aims to reduce its global carbon emissions to zero by 2040,