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Yahoo BusinessApr 09, 2020
Tesla Scored Record China Sales In March, Says Industry Association
Tesla (TSLA) sold 10,160 vehicles in China in March, according to the China Passenger Car Association (CPCA)- a big leap from the 3,900 vehicles sold in February. This would mark the company's highest ever monthly sales in the world's largest auto market.According to Cui Dongshu, CPCA's secretary general, Tesla sales now account for about 30% of the battery electric vehicles sold in China. Ultimately the company plans to produce 150,000 Model 3 sedans from its Shanghai factory.Indeed, Tesla's $2 billion Shanghai plant recovered from the coronavirus shutdown faster than peers due to local authority assistance. After resuming operations in February, the factory surpassed its pre-shutdown capacity, making 3,000 cars a week, the company revealed last month.Meanwhile Tesla recently decided to furlough non-critical employees without pay and temporarily cut executive salaries as much as 30%.The move is designed to enable the company to conserve funds while the coronavirus pandemic has caused much of its operations to be suspended. According to the company memo, Tesla plans to resume vehicle production on May 4 at its US facilities.Analysts remain divided on the outlook for TSLA stock. According to TipRanks, the stock has received no less than 10 sell ratings in the last three months vs 15 hold ratings ad 5 buy ratings. The $499 average analyst price target suggests shares could pull back over 9%. (See Tesla's stock analysis on TipRanks)Staying on the sidelines, Baird analyst Ben Kallo reiterated his

MarketWatch MarketPulseApr 09, 2020
UPS downgraded by UBS on loss of higher-margin business
Analysts at UBS on Thursday downgraded their rating on United Parcel Service Inc. stock to neutral from buy, saying that headwinds from the economic collapse caused by the coronavirus pandemic are likely to cancel out the uptick in ecommerce-related deliveries. "We expect the impact of COVID-19 to drive a sharp reduction in (business-to-business) volumes with the most notable decline in UPS's highest-margin customer group of small and mid-sized businesses," the analysts said. That sharp decline in higher-margin business from small and mid-sized businesses plus the growth in business-to-consumer deliveries "could exert a significant mix/margin headwind," the analysts said. Shares of UPS have lost about 13% in the past 12 months, compared with losses around 3% for the S&P 500 index

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



The Motley FoolApr 09, 2020
Nordstrom Shares Surge Today on Plans to Raise $600 Million
A new secured-note offering will bolster its balance sheet.
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