Diamonds and Dogs

10/24/24

The diamond of the day goes to Tesla (TSLA) up 20%, its best day in over a decade on earnings. Earnings were not spectacular. Tesla did beat, but sales missed and guidance for the rest of the year was inline. But Musk and management is predicting vehicle growth of 20% to 30% next year. Tesla is also looking to start producing a lower end EV car in the first half of 2025 which could boost sales.

Big Blue (IBM) is pulling back 6% following earnings dragging the Dow into the red. Earnings beat, but sales missed. Growth continues to accelerate for IBM's software helping offset weaker performances from IBM's consulting and infrastructure businesses. Margins are improving thanks to their software. Even with the pullback, the tech giant is still up 70% over the last 12 months.

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