Facebook shares drop despite reporting outstanding quarterly results


Facebook (NASDAQ: FB) reported outstanding first quarter financial results, but its shares fell instead of going up during the extended trading hours on Wednesday. The social network giant’s stock declined 2.5% to $148.01 per share—a sign that investors are concerned about the company’s financial performance in the future. During the first three months of the year, Facebook generated earnings of $1.04 per share, up 7% from $0.60 per share in the year-ago quarter. Its revenue rose 49% from $5.38 billion to $8.03 billion. The social network giant exceeded the $0.87…

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Tesla Advances 500,000 Units Production Plan to 2018


Tesla Motors (NASDAQ:TSLA) is advancing its production plan of 500,000 electric vehicles including Model S, Model X, and Model 3 by two years to 2018, according to its CEO Elon Musk and CFO Jason Wheeler in a letter to shareholders. The company also affirmed its plan to deliver 80,000 to 90,000 new electric vehicles this year. Tesla also stated that it is on track to achieving its goal to produce the first cells at its Gigafactory in the fourth quarter of 2016. Tesla also emphasized the overwhelming demand for its…

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