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Elon Musk is now the world’s richest person

  
  Analysis
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Elon Musk passes Jeff Bezos

Elon Musk passes Jeff Bezos
Shares of Tesla are up another 4.2% today and with that, Tesla CEO Elon Musk has passed Jeff Bezos to become the world’s richest person, according to Bloomberg calculations. His net worth is $188 billion dollars, about $1.5 billion more than Bezos.
In the past 12 months, Musk’s net worth has risen by more than $150 billion on a 750% rise in Tesla’s share price. He owns 20% of the company but also holds options that are now worth $42 billion.
The Tesla chart is breathtaking
Tesla musk
Tesla is now the world’s sixth-largest company.
It’s not just Musk, the 500 richest people in the world added 31% to their wealth last year, according to Bloomberg.

TSLA (Tesla) earnings released, Q2 EOPS

  
  Analysis
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Q2 EPS 50c (vs. loss/share $2.310 y/y)

  • Free cash flow $418m, estimate loss $617.9m
  • revenue $6.04bn, estimate $5.40bn
Says delivering half million vehicles in 2020 remains the target
  • Says its Shanghai factory is progressing as planned
  • remains difficult to predict whether there will be further operational interruptions or how global consumer sentiment will evolve in H2 2020
It appears there is some financial engineering involved in generating that positive EPS number, generated a record amount from sales of regulatory credits of 428m USD

NASDAQ index rises over 2.50% on the day. New record close

  
Analysis, US Market
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eBay #Sponsored Wallstreet Stock Market Bull and Bear Head Bookends Bronze ElectroplatedThe buyers return to Amazon, Microsoft, Tesla ahead of their earnings over the next 2 weeks

The NASDAQ index rose over 2.5% on the day, outpacing small gains in the S&P index and Dow industrial average (which barely closed above unchanged).
The final numbers are showing:
  • S&P index up 27.11 points or 0.84% to 3251.83. The high price reached 3258.61. The low extended to 3215.16
  • NASDAQ index closed up 263.90 points or 2.51% at 10767.09. That is a record high close for the NASDAQ index
  • Dow industrial average closed up 8.92 points or 0.03% at 26680.83. The high price reached 26765.02. The low extended to 26504.20
Leading the way were some of the years biggest gainers including:
  • Tesla, +9.47% to $1643
  • Amazon, +7.93%
  • Microsoft, +4.3%
Tesla Microsoft will announce their earnings on Wednesday, July 22. Amazon will announce earnings on Thursday, July 30.
After the close IBM has announced higher earnings on the top and bottom line
  • EPS comes in at $2.18 vs. $2.17 estimate
  • revenues came in at $18.12 billion vs. $17.72 billion estimate
IBM shares are up in after hours trading and trades at $130.25 up 3.88% on the day

A big earnings calendar this week.

  
  Analysis
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Stocks trading modestly higher in premarket activity

In premarket trading the major indices have turned back to the upside after earlier declines. The gains are limited however.

This week the earnings calendar really heats up after the financials started the process last week. Below is a look at some of the major releases this week:
Monday, July 20
  • IBM
  • Phillips
Tuesday, July 21
  • Coca-Cola
  • Snap
  • United Airlines
  • Lockheed Martin
  • Texas Instruments
Wednesday, July 22
  • Microsoft
  • Tesla
  • Chipotle
  • Whirlpool
  • Biogen
Thursday, July 23
  • Intel
  • American Airlines
  • AT&T
  • Travelers
  • Hershey
Friday, July 24
  • American Express
  • Honeywell
  • Verizon
  • Schlumberger
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