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British Columbia stops rebates on Tesla (TSLA) chargers, battery installations. (00:32) Ulta Magnificence’s (ULTA) This fall outcomes offset conservative steering. (01:35) Li Auto (LI) earnings: This fall beats EPS estimates, misses on income by $60M; initiates Q1 outlook. (02:52)
That is an abridged transcript.
British Columbia has pulled rebates for residents to put in Tesla (NASDAQ:TSLA) chargers.
BC Hydro, the province’s energy firm, stated in a discover on its web site that Tesla’s automobile chargers, batteries, and inverters should not eligible for the rebates, efficient March 12.
“The Authorities of BC and BC Hydro are taking motion to desire Canadian items in our rebate applications going ahead and to exclude, the place practicable, US produced items,” the discover stated.
Different manufacturers from American automakers, akin to Ford (F) and Rivian (RIVN), seem like unaffected, in keeping with a search on BC Hydro’s web site. (Ford makes autos in Canada.)
In line with BC Hydro’s web site, the province’s rebates could cowl as much as half of the acquisition worth of a charger and set up.
Neither Tesla, BC Hydro nor the province’s Ministry of Power and Local weather Options didn’t instantly reply to requests for remark by Looking for Alpha.
The information out of British Columbia got here the identical day as Tesla despatched a letter to U.S. commerce consultant Jamieson Greer, warning of dangerous impacts on automakers and customers by retaliatory tariffs towards the U.S.
Ulta Magnificence (NASDAQ:ULTA) is reversing Thursday’s losses throughout the common session.
Higher-than-expected This fall outcomes that included above-consensus comparable retailer gross sales has raised the inventory 7% in premarket buying and selling.
Pushed by a 3% improve in costs, comparable retailer gross sales have been up 1.5% in This fall, almost double what the road was anticipating. However as a result of an additional week in FY23, internet gross sales have been down 1.9% to $3.48B, nonetheless beating expectations by $10M. This contributed to a a lot better-than-expected revenue of $8.46 per share, $1.31 higher than estimates.
Though This fall outcomes exceeded expectations, steering for the present yr was extra conservative.
For FY25, Ulta (NASDAQ:ULTA) anticipates complete gross sales to be between $11.5B to $11.6B with the top-end beneath the consensus forecast of $11.67B. Income are focused for $22.50 to $22.90 per share, down from $25.34 in FY24 and beneath estimates of $23.54.
Li Auto press launch (NASDAQ:LI): This fall Non-GAAP EPADS of $0.52 beats by $0.12.
Income of $6.1B (+3.7% Y/Y) misses by $60M.
Whole deliveries for the fourth quarter of 2024 equaled 158,696 autos, representing a 20.4% year-over-year improve.
Automobile gross sales have been $5.8 billion within the fourth quarter of 2024, representing a rise of 5.6% from the fourth quarter of 2023 and a rise of three.2% from the third quarter of 2024.
For the primary quarter of 2025, the Firm expects:
Deliveries of autos to be between 88,000 and 93,000 autos, representing a year-over-year improve of 9.5% to fifteen.7%.
Whole revenues to be between RMB23.4 billion (US$3.2 billion) and RMB24.7 billion (US$3.4 billion) vs. consensus of $4.90 billion, representing a year-over-year lower of 8.7% to three.5%.
Li auto is down 3.5% premarket.
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Catalyst watch:
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O-I Glass (OI) will host an Investor Day occasion in New York Metropolis. “The Energy of Glass” occasion will function shows and a question-and-answer session with a number of members of the corporate’s world management group.
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Pilgrim’s Pleasure (PPC) will maintain an Investor Day on the Nasdaq MarketSite in New York. Members of senior administration will probably be discussing with traders and analysts the corporate’s technique, aggressive benefits, and strategy to capital allocation.
Now let’s check out the markets forward of the opening bell. Dow, S&P and Nasdaq futures are within the inexperienced. Crude oil is up 1% at $67/barrel. Bitcoin is down 0.6% at $82,000.
On the planet markets, the FTSE 100 is up 0.3% and the DAX is flat. The market in India is closed for a vacation.
The most important movers for the day premarket: Peloton Interactive (NASDAQ:PTON) +6% – Shares surged as Canaccord upgraded the inventory to Purchase, citing its management in linked health.
On at the moment’s financial calendar: