Boston, MA, 02/20/2014 – Tesla Motors Inc (NASDAQ:TSLA) became the biggest gainer after hours as it beats EPS in its fourth quarter and gave away the guidance signalling growth story. The electric car maker delivered $615 million revenue in the said quarter, missing the estimate by approximately $42 million. But, it exceeded the EPS estimate by $0.12 by being at $0.33 per share. For the first quarter, Tesla anticipated delivery of 6,400 units, below consensus of 6,927, while production numbers are projected at 7,400 units as against 6,587 in the fourth quater. For the full year 2014, Tesla Motors Inc (NASDAQ:TSLA) estimates deliveries to reach 35,000 units, above the market estimate of 30,000 units. On top of this, the car-maker eyes for growth in gross margin as it targets automotive growth margin of 28% in the fourth quarter of the year.
Teva Pharmaceuticals Industries Ltd (ADR) (NYSE:TEVA) partner Active Biotech announced yesterday that Teva has decided to not to go ahead with the planned randomization stage of the Libretto trial as the current design is not aligned to the regulatory strategy. Libretto trial was planned for the cureof Relapsing Remitting Multiple Sclerosis (RRMS).
The start of the year for Housing Industry was not good as it slumped to the lowest in the last three years on account of the harsh winter season. This could be evidenced from the lowest annualized rate of construction to 880,000 homes last month, touching the lowest estimate of the Bloomberg Survey. Regions Financial Corporation (NYSE:RF)‘s Chief Economist Richard Moody said that nothing could become clear until April to predict if there is change in fundamental. The coldest January in the last two decades impacted construction vastly as it drops to a record low in Midwest, indicating that its contribution in the economic growth will be low in the initial months of 2014. On top of that, job data is again significant to make out if affordability increases as mortgage and property rates climb.