Shares of Tesla Motors (TSLA) are down nearly 8% to $196.26 in premarket trading after reporting Q4 earnings that disappointed on Wednesday after the closing bell.
The electric car maker reported an adjusted quarterly loss of $0.13 per share, on adjusted revenues of $1.1 billion, compared to the consensus estimates for EPS of $0.31 and $1.23 billion in revenues. Tesla said revs fell below estimates due to weather and shipping problems affecting delivery of cars. The company also said it would begin shipping its “Model X” in six month.
During the conference call with analysts following Tesla’s unexpected quarterly loss, CEO Elon Musk said by fiscal 2025 Tesla’s growth trajectory could take its market cap to $700 billion, matching that of Apple (AAPL). The iPhone maker recently became the first company to top $700 billion in market value. Tesla’s current market capitalization is roughly $25 billion.
Orbitz Worldwide (OWW) is a big mover this pre-market session, as its shares are up nearly 22%. The surge came after news of it being acquired by Expedia (EXPE) in a deal valued at $1.6 billion, including net debt. At $12 a share in cash, the transaction price represents a premium of 25% to Orbitz’s closing price Wednesday.
On valuation measures, Orbitz Worldwide, Inc. shares are currently priced at 70.22x this year’s forecasted earnings compared to the industry’s 40.75x earnings multiple. Ticker has a PEG and forward P/E ratio of 6.41 and 24.67, respectively. Price/Sales for the same period is 1.17 while EPS is $0.14. Currently there are 4 analysts that rate OWW a ‘Buy’, 8 rate it a ‘Hold’. 1 analyst rates it a ‘Sell’. OWW has a median Wall Street price target of $9.25 with a high target of $11.00.
In the past 52 weeks, shares of Chicago, Illinois-based online travel company have traded between a low of $6.49 and a high of $10.52 and are now at $11.68. Shares are up 34.36% year-over-year, and 16.89% year-to-date.
Orbitz has a current market cap of $1.06 billion.
Shares of Apple Inc. (AAPL) rose 1% in early trade following comments from Carl Icahn who said Thursday he believes the iPhone maker is actually worth $216 a share now, valuing the company at $1.3 trillion.
“It seems to us the market is somehow missing a very basic principle of valuation: when a company’s future earnings are expected to grow at a much faster rate than that of the S&P 500, the market should value that company at a higher P/E multiple,” Icahn said.
In other Apple news this morning, Bloomberg discusses the tech giant will require suppliers in China to pay recruitment fees for employees instead of saddling new hires with the costs, in a change to a controversial labor practice that has attracted widespread criticism.
“That fee needs to be paid by the supplier and Apple ultimately bears that fee when we pay the supplier and we’re OK doing that,” Jeff Williams, Apple senior VP of operations, said Wednesday in an interview. “We just don’t want the worker to absorb that.”
AAPL recently gained $1.88 to $126.76. In the past 52 weeks, shares of Apple have traded between a low of $73.05 and a high of $124.92. Shares are up 66.20% year-over-year, and 13.58% year-to-date.
FXCM Inc. (FXCM) rallied more than 3% in the early trade after announcing certain key operating metrics for January 2015 for its retail and institutional foreign exchange business.
“While it was a challenging month for FXCM due to the unprecedented movement of the Swiss Franc on January 15th and the resulting negative balances of a number of our clients, we were able to generate our second best month ever on the retail side and FXCM is back in a solid competitive position with approximately $1 billion in client equity and over 223,000 accounts worldwide,” said in a statement Drew Niv, President and CEO of FXCM. “For the first week of February, we are now receiving net inflows of client funds.”
FXCM shares recently gained 6c to $2.29. The stock is down more than 87% year-over-year and has lost roughly 87% year-to-date. In the past 52 weeks, shares of the New York-firm have traded between a low of $1.28 and a high of $17.44.
FXCM Inc. closed Wednesday at $2.23. The company has a total market cap of $107.76M.