Tesla Motors (NASDAQ:TSLA): In an interview with CNBC, CEO Elon Musk projected that the automaker can reach an annual production of 40,000 units by the end of next year, about double the company’s current rate. Although Tesla has been flaunting the 40,000 units figure for some time, it appears that the EV maker is on track to meet its ambitious production goals and perhaps more importantly, reinforce the company’s colossal market valuation.
Lockheed Martin (NYSE:LMT): The government has lowered the cost projections for operating a fleet of over 2,000 F-35 fighter jets by 20 percent to $857 billion over a period of 55 years. The move could reinforce some international support for the project, which has struggled with skyrocketing costs. Just recently, Boeing has announced a contract worth $7.4 billion with the Korean military as Lockheed’s offer greatly exceeded the given budget.
Abercrombie & Fitch (NYSE:ANF): Shares are down nearly 17 percent after the retailer reported EPS of $0.16, missing by $0.12, and revenue of $945.7 million, also missing substantially by $50.94 million as comparable store sales fell 10 percent. This was exacerbated by a 13 percent decline at Hollister. Comparable sales are expected to dip even further in the third quarter with EPS falling in a range of $0.40-$0.45 versus $1.06.
Dollar Tree, Inc. (NASDAQ:DLTR): EPS of $0.56 missed by a cent as revenue of $1.85 billion also missed by $0.01 billion. Comparable store sales increased 3.7 percent during the period as it saw gains in both traffic and average ticket size. However, the gross margin gave up 20 bps to 35 percent. The company added 79 stores and remodeled or expanded another 32 locations.
Navidea Biopharmaceuticals (NYSEMKT:NAVB): Navidea has reached an agreement with the FDA over the design, endpoints and statistical analysis for two Phase III trials of the company’s NAV5001 imaging agent in diagnosing Parkinsonian Syndromes from non-Parkinsonian tremors. The trials will operate in tandem and enroll around 550 subjects.
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