Tesla and Netflix lose $108 billion in one day after earnings – 07/21/2023 – Market

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Netflix + Tesla = minus $108 billion

Despite having presented second-quarter results close to those expected by the market, both Tesla and Netflix collapsed on the Stock Exchange this Thursday.

The explanation lies in investors’ reaction to the projections and to what was said by the executives in the teleconferences.

In numbers: Tesla shares closed down 9.7%which evaporated $89.9 billion (R$ 430 billion) in its market value – and US$ 20 billion of Musk’s fortune, according to Bloomberg. In the year, however, the automaker still shoots 113%.

• Netflix shares retreated 8.4%reducing its market value by $18.8 billion (BRL 90 billion), according to Reuters. In 2023, rise 62%.

Which explains:

at the automaker, the market already expected a drop in the operating margin due to the discounts that were given in vehicle prices to increase sales. The negative reaction came mainly after Elon Musk’s conference with analysts.

• The CEO did not show the optimism of the previous quarter and reinforced the company’s plan to deliver 1.8 million vehicles this year, citing scheduled shutdowns at factories.

• Analysts were working with a production of 2 million cars in 2023, and also did not notice in Musk’s words any advance in Tesla’s AI systems – such as the model that drives the car “by itself”.

At the streaming giantnor did the addition of nearly 6 million subscribers in the quarter cause investors to ignore a lower-than-expected revenue projection.

• The company’s estimate of third-quarter revenue was $8.5 billion, below the consensus of $8.7 billion.

• From April to June, the indicator was slightly below the US$ 8.3 billion expected by Wall Street.

More about Bolsa, but in Brazil:

The provider of software for the financial sector Sinqia communicated this Thursday night that its board of directors accepted an offer to buy Evertec, headquartered in Puerto Rico and listed on the New York Stock Exchange.

The proposal, which still needs approval from the rest of the shareholders, values ​​it at around BRL 2.5 billion. The offer foresees BRL 27.19 per share of Sinqia, a premium of 17% on the closing price of the papers this Thursday.

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Flying cars made in Taubaté

Embraer and its subsidiary Eve announced this Thursday that the first “flying cars” (in the technical term eVTOL, electric aircraft with vertical landing and takeoff) in Brazil will be manufactured in Taubaté (SP).

The plant will be inside the Embraer unit in the municipality and close to the manufacturer’s headquarters, in São José dos Campos, as well as Eve’s engineering and human resources teams.

Understand: eVTOLs are considered a cheaper, quieter and less polluting alternative to helicopters.

• The models are in the prototype phase, and the final version should be delivered to buyers within three years.

• Until then, there will still be tests with unmanned flights and simulation trips with people on board, which could start as early as next year.

• In the future, travel may take place without a human at the helm.

In numbers: Eve already has 2,850 orders, which should generate $8.6 billion (R$ 41.2 billion) in revenue.

Listed on the New York Stock Exchange, the company is currently worth around $2.6 billion (R$ 12.4 billion), an amount close to when it completed its IPO, in May last year, for US$ 2.4 billion. Embraer still owns 90% of the voting shares.

JPMorgan assesses that the eVtols market has potential for $1 trillion (BRL 4.79 trillion), and could reach $3 trillion (R$ 14.3 trillion) by 2040, if it gains space in areas such as cargo transport and military use.

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take a break

Films from two very different worlds, but highly anticipated and released on the same day (yesterday, the 20th).

Buying tickets to see “Barbie”, an ultra-colorful film about the doll directed by Greta Gerwig, and “Oppenheimer”, in which Christopher Nolan imprints a dark aesthetic to talk about the creator of the atomic bomb, came out of memes and became reality.

American theater chain AMC said more than 20,000 members of its loyalty program had bought tickets to see the two films on the same day.

commercially, however, the movie “Barbie” dropped right in front. Although 80% of theaters in the country are reserved for sessions with the duo, the doll’s film is on three times as many screens as Nolan’s.

• According to the Wall Street Journal, the manufacturer negotiated deals in the 18 months leading up to the film’s release in anticipation of flooding the market with Barbie products.

• From one month to now, the company’s shares have risen 16% on the Nasdaq, while the American Stock Exchange index has advanced 2% in the period.

Leaf saw: