These Earnings Calls Julia Boorstin is in l. A. On the facebook call, phil lebeau is getting ready to jump on the facebook call. Were tag teaming both of those Conference Calls on the red phone. Tesla turned to a bear market after hours. Lets get to phil lebeau for all the details. Phil, the details are in that shareholder letter, there are a lot of details when it comes to the model 3 reporter a lot of details about the model 3, well talk about that in a little bit the Free Cash Flow for the quarter, melissa, listen to this, negative 1. 4 billion for tesla. They ended the quarter with 3 35 billion cash on hand as you mentioned, when it comes to model 3, the company has issued new guidance in terms of its production schedule. It says it expects to build 5,000 model 3s per week by the end of the First Quarter bottlenecks had to do with the battery modules being built, they could not get those into production as quickly as they would have liked what we know is that 5,000 per week by the
Crude comfortable at 50. 8 0. Another 350 billion honest in hardware deals rummaged in the next three years. Wilbur ross had high praise for the deals that got done. I cannot imagine another business day as good for the United States and the kingdom. Kevin cirilli joins us now from jerusalem. Lets talk about those deals. Energy, andilitary, infrastructure deals done. How important are these for the president at this point . Kevin very important. Coming on the heels of the administration raising questions about the potential collusion for russia. I asked secretary ross of whether or not these investigations would cloud over the trip, and he believed they would not. Over 300 billion worth of new deals, as well as a 109 billion arms deal negotiated between the u. S. And saudi arabia. The folks i spoke with on the ground in riyadh from saudi arabia were impressed by the caliber of ceos in attendance. Representatives and top executives from Lockheed Martin, boeing, blackrock, and the new yo
Amc entertainment says a lack of summer block bust earls hurt the bottom line in the latest quarter. Well talk to adam aron in a first interview about that and his companys merger plans. They have a lot of mergers. Breath taking is the word he uses to describe this. Tesla reaching that deal to buy solar city. Well look at what it means for shareholders. Lets start, though, with oil. Big mover today going lower. Yak i can deangelis tracking the action for us at the nymex. Good afternoon to you, bill. We settled higher than 40. But we did get down to 39. 82 and shows the momentum is there. 40 is a key psychological and Technical Support of oil prices. Lets see why we rose and why were falling particularly so early in the season. The demand for summer driving gave us an uptick. We got up to the 50 range, the dollar supportive. Everything seemed fine. On the downside, why we fell is because we had a crude inventory glut that created a gasoline glut and profitable to create more product and
Recent high in june. That technically qualifies as a bear market. The a number supply side, there are early signs that production is increasing in the u. S. Just as output from opec and elsewhere is rising. And demand isnt increasing enough to mop up the excess. As a result, crude settled down nearly 4 today to about 40 a barrel. Hello, mr. Bear. An follow. Jackie deaung drivers can expe they g. Good news for consumers. Gas prices are falling sharply. At a time that theyre expect ied to, a gallon is 2. 13. It was 2. 66 last year and thats the average. Some c which is unusual for the height of the summer. Causing the decline, aap oil. That led to a refining boom and that created a gasoline glut. Seasonally, summer is when americans hit the road, so its one time of year that we can expect an uptick in demand. It was robust, but not enough to make a dent in inventory. We started o ut the driving season needness to s abe of cruel oil. It had to be used. Refiners were running 92 to 95 , abo
Recent high in june. That technically qualifies as a bear market. The a number supply side, there are early signs that production is increasing in the u. S. Just as output from opec and elsewhere is rising. And demand isnt increasing enough to mop up the excess. As a result, crude settled down nearly 4 today to about 40 a barrel. Hello, mr. Bear. An follow. Jackie deaung drivers can expe they g. Good news for consumers. Gas prices are falling sharply. At a time that theyre expect ied to, a gallon is 2. 13. It was 2. 66 last year and thats the average. Some c which is unusual for the height of the summer. Causing the decline, aap oil. That led to a refining boom and that created a gasoline glut. Seasonally, summer is when americans hit the road, so its one time of year that we can expect an uptick in demand. It was robust, but not enough to make a dent in inventory. We started o ut the driving season needness to s abe of cruel oil. It had to be used. Refiners were running 92 to 95 , abo