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Trump Media & Technology Group Shares See Volume, Trump Says "No I'm Not Selling" When Asked About His Shares In The Co.

Homeowners have more <a href="https://www.benzinga.com/real-estate/24/06/39398524/home-sales-suffer-third-worst-month-in-the-last-10-years">real estate equity </a>than ever before, according to data from the federal government and an investment group.
Total homeowner&#8217;s equity in the U.S. reached $35.1 trillion in this year&#8217;s second quarter, data from the Federal Reserve <a href="https://fred.stlouisfed.org/series/OEHRENWBSHNO">showed</a>.
It fell as low as $29.8 trillion in the last quarter of 2022, but that is way above a most recent low of $8.22 trillion in the first quarter of 2012, according to the Fed data. 
Homeowner&#8217;s equity has skyrocketed 15,845% over the past seven decades from $219 billion in 1951.
Another indicator of homeowner wealth is that households have the least mortgage debt relative to their property value in almost 70 years as homes appreciate in value and homeowners pay down their mortgages, according to data from Bespoke Investment Group.
Read Also: <a href="https://www.benzinga.com/real-estate/24/06/39465243/u-s-home-sales-decline-for-third-month-as-record-prices-pose-persistent-affordability-challenges-dur">U.S. Home Sales Decline For Third Month As Record Prices Pose Persistent Affordability Challenges During Key Selling Season</a>
Household mortgage debt as a percentage of real estate value has halved from 53% in December 2011 to 27.3% in 2021.
&#8220;Consumer balance sheets are rock solid, which is another reason to question the narrative of impending recession,&#8221; Bespoke said.
Mortgage rates fell to <a href="https://www.benzinga.com/markets/24/09/40843840/mortgage-rates-fall-to-lowest-level-since-february-2023">their lowest point</a> in more than 18 months last week. That&#8217;s encouraging homebuyers to refinance the amount they have left to pay on their home loans.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.29 percent from 6.43 percent, marking the sixth straight week in declining rates, according to the Mortgage Bankers Association (MBA).
Price Action: Mortgage lenders saw losses and gains into Friday&#8217;s early-afternoon trading.
<ul>
<li>Rocket Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>) rose 6.11% to $19.90</li>
<li>Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) slipped 0.46% to $38.60</li>
<li>Better Home &amp; Finance Holding Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BETR#NASDAQ">BETR</a>) gained 1.04% to $16.50</li>
</ul>
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/08/40549967/two-things-the-latest-home-sales-numbers-say-about-the-real-estate-market">Two Things The Latest Home Sales Numbers Say About The Real Estate Market</a></li>
</ul>
Image: Pixabay

Federal Reserve

Real Estate

BETR

Homeowners Have Never Been Richer, Data Shows: 'Another Reason To Question Recession Narrative'

Jefferies analyst Akash Tewari maintains BioNTech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) with a Hold and raises the price target from $90 to $96.

Price Target

Analyst Ratings

BNTX

Jefferies Maintains Hold on BioNTech, Raises Price Target to $96

BofA Securities analyst Ronald J. Epstein reiterated a Neutral rating on Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>),<a target="_blank" href="https://www.benzinga.com/quote/BA/analyst-ratings" rel="noreferrer noopener"> with a price forecast of $200.</a>
The analyst views Boeing as particularly vulnerable, noting that the company has delayed its 737 production rate increase from 42 per month, originally set for September 2024, to March 2025.
A prolonged strike could further worsen the company&#8217;s current difficulties, Epstein added.
However, if the Spirit AeroSystems strike and subsequent contract negotiations set a precedent, the strike could potentially be resolved in as little as a week, Epstein adds.
The analyst forecasts that Boeing may need to offer additional concessions, possibly approaching the IAM&#8217;s original demand for a 40% wage increase.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40853982/boeings-stock-falls-as-33-000-aircraft-assembly-workers-strike" rel="noreferrer noopener">Boeing&#8217;s Stock Falls As 33,000 Aircraft Assembly Workers Strike</a>
The analyst highlights that both CEO Kelly Ortberg and COO Stephanie Pope have fired off internal memos to Boeing staff, trying to cool down strike sentiments.
Pope touted the proposed contract as Boeing&#8217;s best ever, emphasizing the 25% wage increase despite the company&#8217;s hefty $60 billion debt, the analyst highlights.
Meanwhile, Kelly&#8217;s memo admitted that Boeing is grappling with a rough patch, partly due to past blunders, and warned that a strike could derail their hard-fought recovery.
According to the analyst, Boeing now has the onus to act, resolve the issues, and prevent additional &#8220;disruptions.&#8221;
Meanwhile, Boeing shares are trading lower after workers rejected the proposed labor contract, leading to a strike. Moody&#8217;s placed the company&#8217;s ratings on review for downgrade amid concerns.
According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, BA stock has lost 25% in the past year. Investors can gain exposure to the stock via iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) and Gabelli Commercial Aerospace and Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCAD#NYSE">GCAD</a>).
Price Action: BA shares are trading lower by 3% to $157.87 at last check Friday.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40847259/boeing-workers-strike-at-midnight-threatens-aircraft-production-as-financial-risks-loom-after-30" target="_blank" rel="noreferrer noopener">Boeing Worker&#8217;s &#8216;Strike At Midnight&#8217; Threatens Aircraft Production As Financial Risks Loom After 30,000 Workers Vote For Industrial Action</a></li>
</ul>

Analyst Color

Equities

Markets

General

GCAD

iShares Dow Jones US Aerospace & Defense Index Fund

Boeing May Need To Offer Additional Concessions To End Strike Despite Multi-Billion Dollar Debt: BofA Analyst

Former U.S. President Donald Trump has experienced <a href="https://www.benzinga.com/real-estate/24/08/40666407/what-stocks-does-donald-trump-own-new-financial-disclosure-revealed">a significant downturn</a> in his cryptocurrency portfolio, losing $19.27 million over the past three months, according to data from blockchain intelligence firm Arkham.
What Happened: As of Sept. 13, Trump&#8217;s total crypto holdings are <a href="https://platform.arkhamintelligence.com/explorer/entity/donald-trump">valued</a> at $5,868,659.51, a stark contrast to the $25.16 million recorded on June 6, representing a 76.6% decrease.
This revelation comes at a pivotal moment for Trump, as he and his family prepare to launch a controversial cryptocurrency project called <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40853339/donald-trumps-son-barron-is-his-chief-defi-visionary-but-the-real-mastermind-behind-world-">World Liberty Financial on Sep. 16.</a>
The announcement, made on Trump&#8217;s social media platform, has stirred both political and financial circles. 
In a video post, Trump declared, &#8220;We&#8217;re embracing the future with crypto and leaving the slow and outdated big banks behind,&#8221; signaling a dramatic shift from his previous stance on digital currencies.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read:<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40857676/what-changed-federal-reserve-may-take-a-bigger-50-basis-points-rate-cut-bite-next-week-mar"> &#8216;What Changed?&#8217; — Federal Reserve May Take A Bigger 50 Basis Points Rate Cut Bite Next Week, Market Odds Imply</a>
Trump&#8217;s portfolio comprises various cryptocurrencies, with Maga Memecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) token leading at $1.41 million, followed closely by Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) at $1.19 million.
Other significant holdings include (CRYPTO: GUA), Wrapped Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WETH</a>), TROG (CRYPTO: TROG), USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), MAGAA (CRYPTO: MAGAA), and CONAN (CRYPTO: CONAN), each contributing to his diverse crypto investments. 
The most substantial losses were seen in TROG and TRUMP tokens, which plummeted by 95.73% and 79.24% respectively, while Ethereum and Wrapped Ethereum also saw considerable drops of around 35-36%.
This shift in Trump&#8217;s crypto stance aligns with his recent advocacy for digital currencies to be &#8220;made in the USA,&#8221; emphasizing the need to counter <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39817200/donald-trump-comments-on-crypto-pivot-if-we-dont-do-it-china-will">China&#8217;s growing influence in the field</a>.
In July, he warned that the United States must embrace digital currencies to prevent China from dominating the sector, a stark contrast to his earlier characterization of Bitcoin as a &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39801662/the-real-reason-why-donald-trump-has-pivoted-towards-crypto">scam</a>&#8221; and a &#8220;disaster waiting to happen.&#8221;
Trump&#8217;s evolving position on cryptocurrencies reflects a broader strategy to position the U.S. as a leader in emerging technologies. 
This move has garnered support from the crypto industry and stands in sharp contrast to the Biden administration&#8217;s regulatory approach.
What&#8217;s Next: Investors and enthusiasts seeking deeper insights into the future of digital assets can look forward to Benzinga&#8217;s upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19, where industry leaders will convene to discuss trends, regulations, and the potential trajectory of cryptocurrencies.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40857265/kraken-pushes-back-against-sec-lawsuit-demands-jury-trial">Kraken Pushes Back Against SEC Lawsuit, Demands Jury Trial</a></li>
</ul>
Image created using artificial intelligence with Midjourney.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$ETH

$TRUMP

$USDC

$WETH

Here's How Much Donald Trump's Crypto Portfolio Is Down From The Top (Spoiler: It's Millions And Millions Of Dollars)

VMAR

Vision Marine Technologies Shares Resume Trade

WIIM

CVAC

CureVac shares are trading higher after the company presented its CVGBM cancer vaccine results from its Phase 1 study of Glioblastoma at the ESMO 2024 Congress.

Vision Marine Technologies Shares Halted On Circuit Breaker To The Downside, Stock Now Down -13.3%

Vision Marine Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMAR#NASDAQ">VMAR</a>) ("Vision Marine" or the "Company"), a pioneer in electric marine propulsion, today announced the pricing of a best-efforts offering of 3,400,000 common shares. Each common share is being sold at an offering price of $1.00 per share. All of the common shares in the offering are being offered by the Company. Total gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, are expected to be $3.4 million. The offering is expected to close on September 16, 2024, subject to satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the offering primarily for working capital purposes and prosecuting patent applications. The Company may also use a portion of the net proceeds from this offering for acquisitions or strategic investments in complementary businesses or technologies, however, no acquisition targets have been identified.
ThinkEquity is acting as sole placement agent for the offering.

Offerings

Vision Marine Technologies Announces $3.4M Offering Of 3.4M Shares Of Common Stock At A Price Of $1/Share

SMWB

Similarweb shares are trading lower on possible continued weakness after announcing a secondary offering on Thursday.

The developer of Palworld, Pocketpair, is considering a potential shift to a free-to-play model for its popular survival <a href="https://www.benzinga.com/markets/asia/24/03/37941530/how-tencents-new-mobile-ventures-aim-to-mimic-palworlds-global-success">crafting game. </a>
Since its launch on Steam for $30 earlier this year, Palworld has achieved significant success, drawing comparisons to Pokémon due to its creature-collection mechanics. With its massive player base, the game quickly rose to the top charts on Steam and was also made available on Xbox and PC Game Pass.
Despite this success, Pocketpair CEO Takuro Mizobe revealed in an interview with ASCII Japan (translated by&nbsp;<a href="https://automaton-media.com/en/news/palworld-faces-the-difficult-choice-of-whether-to-become-a-live-service-game-or-stay-buy-to-play-pocketpairs-ceo-says/" target="_blank" rel="noreferrer noopener">Automaton</a>) that the company is considering a live-service, free-to-play model to sustain the game&#8217;s profitability over the long term. 
See Also: <a href="https://www.benzinga.com/general/gaming/24/02/37289960/from-meme-to-mainstream-palworld-celebrates-25-million-players-despite-or-because-of-pok-mon-plagi">From Meme To Mainstream: Palworld Celebrates 25 Million Players Despite (Or Because?) Of Pokémon Plagiarism Controversy</a>
"Making Palworld a live-service game would extend its lifespan and make it more stable in terms of profitability," Mizobe explained.
However, Mizobe acknowledged that the game was not originally designed with live-service in mind, presenting challenges for such a transition. 
"It's common for live-service games to be F2P with paid elements such as skins and battle passes, but Palworld is a B2P game, so it's difficult to turn it into a live-service game from the ground up," Mizobe said.
Various games successfully made the switch, such as Fall Guys and PUBG, but Mizobe noted that these transitions took years and involved significant effort. "While I understand that the live-service model is good for business, it's not that easy," he added.
<h3 class="wp-block-heading">Player Concerns And Future Plans</h3>
If Pocketpair does decide to move Palworld to a free-to-play model, it could spark backlash from players who have already paid for the game. Although Palworld remains in early access and further changes are expected, existing players may not welcome a sudden shift to a monetized free-to-play structure.
In addition to gameplay changes, Pocketpair is working with Sony Group Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) to form a new business called Palworld Entertainment, which focuses on licensing and merchandising the Palworld brand. The partnership is aimed at expanding the franchise beyond gaming into areas like merchandise and music.
Pocketpair has also teased a potential PlayStation launch for Palworld at the upcoming Tokyo Game Show, running from September 26 to 29.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/gaming/24/03/37755269/palworld-success-overwhelms-too-big-for-our-studio-but-pocketpair-open-to-acquisitions">Palworld&#8217; Success Overwhelms: &#8216;Too Big for Our Studio,&#8217; But Pocketpair Open To Acquisitions</a></li>
</ul>

Gaming

Sony Group Corporation American Depositary Shares

SONY

Palworld Going Free-To-Play? Developer Weighs Bold, Yet 'Difficult' Move

Macro Notification

U.S. State Department States Putin's Comments On Ukraine's Use Of Long-Range Missiles Mirror Previous Remarks During Conflict; Reaffirms U.S. Will Not Participate In War But Will Support Ukraine's Defense

Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) has bagged approval from the European Commission to provide over 7.4 billion Polish złoty ($1.91 billion) in state grants to support building the chipmaker&#8217;s new chip plant.
The European Commission will disburse the grant between 2024 and 2026, Reuters cites Poland&#8217;s Deputy Prime Minister and Minister of Digital Affairs Krzysztof Gawkowski.
Intel chose Poland over Vietnam, citing <a target="_blank" href="https://www.benzinga.com/news/24/07/39667470/whats-going-on-with-intel-stock-on-monday" rel="noreferrer noopener">insufficient investment incentives</a>.
Intel initially announced plans in 2022 to invest up to $4.6 billion in building a semiconductor assembly and test facility near Wroclaw, Poland.
The process will likely be over by the end of 2024, Reuters cites Poland&#8217;s Deputy Digital Affairs Minister Dariusz Standerski. Construction on the plant could begin later this year.
Intel stock has been <a target="_blank" href="https://www.benzinga.com/m-a/24/09/40747080/intel-eyes-mobileye-stake-sale-amid-pressure-stock-slides" rel="noreferrer noopener">down 50% in</a> the last 12 months as it has failed to capitalize on the industry&#8217;s shift to artificial intelligence. <a target="_blank" href="https://www.benzinga.com/m-a/24/09/40747080/intel-eyes-mobileye-stake-sale-amid-pressure-stock-slides" rel="noreferrer noopener">According to recent reports</a>, it is eying a strategic stake sale of the Israeli autonomous driving company Mobileye Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) and its Enterprise Networking division.
Investors can gain exposure to Intel through SPDR Select Sector Fund &#8211; Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) and Vanguard High Dividend Yield ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VYM#NYSE">VYM</a>).
Price Action: INTC stock is up 1.47% at $19.65 at the last check on Friday.
Photo via Shutterstock

Government

Regulations

Eurozone

Tech

Media

INTC

MBLY

Intel Secures About $2B In State Aid For Poland Chip Plant

Adobe Systems (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adbe#NASDAQ">ADBE</a>) reported $5.41 billion in revenue for the quarter ended August 2024, representing a year-over-year increase of 10.6%. EPS of $4.65 for the same period compares to $4.09 a year ago.
The reported revenue represents a surprise of +0.79% over the Zacks Consensus Estimate of $5.37 billion. With the consensus EPS estimate being $4.53, the EPS surprise was +2.65%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company&#39;s financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock&#39;s price performance more accurately.
Here is how Adobe performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
<ul>
<li>Business Unit - Digital Media - Creative ARR (Annualized Recurring): $13.45 billion versus the five-analyst average estimate of $13.46 billion.</li>
<li>Business Unit - Digital Media - Total Digital Media ARR (Annual): $16.76 billion compared to the $16.71 billion average estimate based on four analysts.</li>
<li>Business Unit - Digital Media - Document Services ARR (Annual): $3.31 billion versus the four-analyst average estimate of $3.25 billion.</li>
<li>Revenue- Digital Media: $4 billion compared to the $3.97 billion average estimate based on seven analysts. The reported number represents a change of +11.2% year over year.</li>
<li>Revenue- Publishing and Advertising: $59 million compared to the $60.35 million average estimate based on seven analysts. The reported number represents a change of -11.9% year over year.</li>
<li>Revenue- Digital Experience: $1.35 billion compared to the $1.34 billion average estimate based on seven analysts. The reported number represents a change of +10.2% year over year.</li>
<li>Revenue- Digital Media- Creative Cloud: $3.19 billion versus $3.18 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9.6% change.</li>
<li>Revenue- Digital Media- Document Cloud: $807 million versus the five-analyst average estimate of $790.70 million. The reported number represents a year-over-year change of +17.8%.</li>
<li>Revenue- Services and other: $146 million versus $163.69 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -10.4% change.</li>
<li>Revenue- Products: $82 million compared to the $111.98 million average estimate based on three analysts. The reported number represents a change of -14.6% year over year.</li>
<li>Digital Experience Subscription Revenue: $1.23 billion compared to the $1.21 billion average estimate based on three analysts. The reported number represents a change of +12.3% year over year.</li>
<li>Net Revenue- Subscription: $5.18 billion versus $5.09 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +11.9% change.</li>
</ul>
Shares of Adobe have returned +7.5% over the past month versus the Zacks S&amp;P 500 composite&#39;s +4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
<a href="https://www.zacks.com/stock/news/2335568/adobe-adbe-reports-q3-earnings-what-key-metrics-have-to-say?cid=CS-BENZ-FT-fundamental_analysis|nfm-2335568">To read this article on Zacks.com click here.</a>

Earnings

ADBE

Adobe Reports Q3 Earnings: What Key Metrics Have to Say

Canaccord Genuity analyst George Gianarikas maintains Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with a Buy and maintains $254 price target.

TSLA

Canaccord Genuity Maintains Buy on Tesla, Maintains $254 Price Target

EAST

Eastside Distilling shares are trading lower after the company filed for a $10 million mixed shelf offering.

BZFD

BuzzFeed shares are trading higher amid a report suggesting Netflix is in discussions to add First We Feast's 'Hot Ones.'

MULN

Mullen Automotive shares are trading lower after the company announced a 1-for-100 reverse stock split.

Canaccord Genuity analyst Maria Ripps maintains Lovesac (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOVE#NASDAQ">LOVE</a>) with a Buy and maintains $36 price target.

LOVE

Canaccord Genuity Maintains Buy on Lovesac, Maintains $36 Price Target

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) could have an exciting October to remember with third-quarter earnings, third-quarter deliveries and <a href="https://www.benzinga.com/news/24/09/40808924/tesla-robotaxi-event-to-be-held-in-los-angeles-on-1010-says-senior-company-exec-existing-shareholder">its Robotaxi Day.</a>
An analyst said investors should focus on deliveries before robotaxis.
The Tesla Analyst: Canaccord Genuity analyst George Gianarikas has a Buy rating with a $254 price target on Tesla.
Read Also: <a href="https://www.benzinga.com/news/24/09/40839183/tesla-patent-shows-new-automotive-assembly-process-that-could-help-cut-costs-efficiently-assembling">Tesla Patent Shows New Automotive Assembly Process That Could Help Cut Costs: &#8216;Efficiently Assembling Vehicles&#8217;</a>
The Analyst Takeaways: Tesla's third-quarter delivery figures will come before its Robotaxi Day and should be the current focus from investors, Gianarikas said in an investor note titled "business before pleasure."
"Robotaxi. It's going to be a big day — bigger than the Catalina wine mixer. But before that, we have some business to attend to — the 3Q24 delivery announcement," Gianarikas said.
The analyst is lowering third-quarter delivery estimates after looking at global data.
"Despite modestly adjusting our delivery projections downward, Tesla's performance has remained relatively healthy."
Tesla's margins could also be lower in the third quarter with the company using "aggressive packages" to help with demand, the analyst added.
Gianarikas' third-quarter delivery estimate is 469,200. That&#8217;s down from a previous estimate of 480,000. The analyst's estimate is higher than a consensus estimate of 458,000 deliveries in the quarter, according to the report.
"We see the continued momentum in China and attractive financing options being offered around the world as key drivers to our estimates,&#8221; he added. 
The analyst is leaving fourth-quarter delivery estimates of 552,000 vehicles in place until the third-quarter results are announced. "Two factors drive this forecast, he says. First, since 2019, Tesla has averaged a &#8220;20.4% q/q gain between 3Q and 4Q.&#8221; Second, new vehicles could launch by the end of the year.
For the full year, the analyst sees Tesla delivering 1.85 million vehicles, down from a previous estimate of 1.86 million.
For the third-quarter financial results, the analyst lowers non-GAAP earnings per share estimates from 98 cents to 75 cents per share.
What's Next: Tesla reported second-quarter deliveries on July 2 and first-quarter on deliveries on April 2, putting third-quarter figures on pace for October 2.
The company expects to report third-quarter financial results in October, likely after the Robotaxi Day on Oct. 11. This all sets up for a huge October for the electric vehicle giant.
TSLA Price Action: Tesla stock trades at $228.97 versus a 52-week trading range of $138.80 to $278.98. Tesla stock is down 8% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39918390/tesla-q2-earnings-highlights-revenue-beat-eps-miss-robotaxi-update-2024-growth-rate-to-be-notably-l">Tesla Q2 Earnings Highlights: Revenue Beat, EPS Miss, Robotaxi Update, 2024 Growth Rate To Be &#8216;Notably Lower&#8217; Than 2023</a></li>
</ul>

Reiteration

Tesla Analyst Says 'Business Before Pleasure' With Third Quarter Deliveries Report Ahead Of Robotaxi Day

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ADX Energy Ltd

ADX Energy Ltd (ADXRD) Forecast

ADX Energy Ltd (OTC:ADXRD) Stock, Quote.Headers.trade-ideas