Tesla Motors Inc (NASDAQ:TSLA) sunk nearly 6% in pre-market trading down to $245 after the automaker released second quarter earnings yesterday after market close and reduced delivery guidance. Tesla posted total non-GAAP revenue of $1.20 billion, beating the analyst estimate of $1.117 billion and marking a 40% year-over-year increase. The company posted a loss of ($0.48) per share on a diluted non-GAAP basis, a narrower loss than the estimates of ($0.60). Despite the earnings beat, Tesla lowered its outlook and is now estimating between 50,000 and 55,000 deliveries of the Model S and the Model X in 2015, down from the previous goal of 55,000. The earnings report explained that there are “many dependencies” that could influence fourth quarter production and deliveries, such as production ramp problems and challenges on the assembly line. The report states, “Simply put, in a choice between a great product or hitting quarterly numbers, we will take the former. To build long-term value, our first priority always has been, and still is, to deliver great cars.” As of this writing, TipRanks has polled 12 analysts on Tesla in the last 3 months. Of the 12 analysts, 7 are bullish, 2 are neutral, and 3 are bearish. The average 12-month price target is $322, marking a 19% potential upside from where shares last closed.
Herbalife Ltd. (NYSE:HLF) shares soared nearly 10% in pre-market trading up to $54 after the nutrition and weight management product company released second quarter earnings and raised its full year 2015 guidance. Herbalife posted sales of $1.16 billion, beating estimates of $1.14 billion and marking an 11% drop due to foreign exchange headwinds. The company posted diluted earnings per share of $1.24, beating estimates of $1.11. Furthermore, the company raised its full year 2015 diluted EPS guidance to a range of $4.50 to $4.70, up from the previous range of $4.30 to $4.60. CEO Michael Johnson commented, “The second quarter continued the improving trends we saw in the previous quarter in terms of sales volumes and key sales leader metrics, and we believe we will see these positive trends continue through the second half of the year.” According to the 2 analysts polled by TipRanks in the last 3 months, 1 is bullish on the stock and 1 is neutral. The 12-month average price target is $71.95, marking a 46% potential upside from where the stock last closed.
Fitbit Inc (NYSE:FIT) shares plummeted 9.8% in pre-market trading down to $46.58 after the wearables company posted second quarter earnings yesterday after market close. Although Fitbit posted impressive earnings figures, many investors were concerned by the narrow 47% gross margin, compared to 51% the year prior. After earnings, Charlie Anderson of Dougherty downgraded the stock from Buy to Hold. For the third quarter and for the full year 2015, Fitbit projects gross margin in the range of 47% to 48%. Aside from the concerning margin, Fitbit posted quarterly revenue of $400.4 million, blowing away estimates of $319 million and more than tripling the figure compared to the same quarter of last year. Non-GAAP earnings per share were $0.21, easily trumping estimates of $0.08. As of this writing, TipRanks has polled 11 analysts on FIT in the last 3 months. Of the 11 analysts, 6 are bullish on the stock and 5 and neutral. The average 12-month price target on the stock is $50, marking a 2% potential downside from where shares last closed.
Transocean LTD (NYSE:RIG) shares increased 5.75% in pre-market trading up to $13.05 after the company posted second quarter earnings yesterday after market close. The offshore drilling company posted revenue of $1.884 billion, beating expectations of $1.7 billion. Adjusted earnings per share came in at $0.93, ahead of estimates of $0.51. Many attributed to earnings beat to Transocean’s new CEO, Jeremy Thigpen, who took the reins of the company in April. Thigpen noted, “Despite the challenging market conditions, Transocean delivered strong operating results and underlying cash flow in the period due to exceptional revenue efficiency and a relentless emphasis on cost management.” As of this writing, TipRanks has polled 7 analysts on RIG in the last 3 months. Of the 7 analysts, 1 is neutral and 6 are bearish. The average 12-month price target is $11.60, marking a 6% potential downside from where shares last closed.