Tesla’s Taxpayer Reliance Draws Ire, Wendy’s Gets An Upgrade and 3 More Hot Stocks
Tesla Motors (NASDAQ:TSLA): An opinion piece published in The Wall Street Journal attempts to break down Tesla’s last quarterly earnings, and makes the argument that the company was built on taxpayer funding, citing the $7,500 government rebates, zero emissions credits, and the Department of Energy loan. However, a couple crucial points were significantly overlooked: other manufacturers making electric vehicles can also take advantage of the same programs, that the credits were around before Tesla was, and that Tesla has plans for a more affordable car. The piece also compares Tesla’s Model S sales to those of Ford’s (NYSE:F) F-150 — a more polarizing opposite would be hard to find.
Wendy’s Inc. (NYSE:WEN): Janney Montgomery Scott has upgraded Wendy’s from Neutral to Buy, with a price target of $7, up from $5.25. The brands overhauled image is viewed as a differentiator that sets the chain apart from its rivals.
Rio Tinto (NYSE:RIO): The mining giant has cut roughly 100 jobs from its Kennecott copper operation in Utah, and followed up with a warning that more cuts may be on the way in the wake of April’s landslide that saw production estimates slashed. The incident led to cuts of about 125,000 metric tons, or 50 percent or so, from the company’s annual estimates.
Dish Network (NASDAQ:DISH): The satellite provider has made it one step closer to securing the financing necessary for its $25.5 billion bid on Sprint (NYSE:S), as it has received signed commitment letters from five banks for $9 billion towards its offer. CEO Charlie Ergen is waiting for Sprint’s board to declare Dish’s offer potentially superior to SoftBank’s, before Dish sets about paying its commitment fees.