Diamonds and Dogs
Build that Wall! Shares of U.S. Concrete (USCR) are up 12% making a new 52 week high following better than expected earnings. The major construction markets for ready-mixed concrete are dramatically improving. Sales for U.S. Concrete rose 22% to $299.1 million while earnings easily beat estimates. Maybe some of this concrete is going to build the Mexican wall.
Tesla (TSLA) hits a speed bump. After a big run up, the battery car maker is down 5% following disappointing earnings. The company missed estimates by a wide margin, but did beat on sales. The company reaffirmed first half production while the Model 3 is on track for initial production in July. The analysts remain skeptical of the Model 3 launch and its profitability due to the low price and high battery costs. The analysts also see slowing demand for the Model S/X.