Diamonds and Dogs

7/21/22

Tesla (TSLA) jumps 10% following earnings as their CEO and founder vacations on a yacht in Greece. Tesla easily beat estimates as they reaffirm expectation to achieve 50% average annual growth in vehicle deliveries over multi-year horizon. Total deliveries of 254,695 vehicles, up 27% yr/yr.

AT&T (T) remains a dog. The stock is down 7% following earnings. Earnings actually beat with strong subscriber gains, but lower guidance for cash flow had investors heading for the hills. Earlier in the year, AT&T spun off Warner Media, as the company doubled down on investing in its 5G and fiber networks. The only good thing for new investors is a dividend yield over 5%.

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