Loading...
Electric vehicle sales have slowed down, with ON Semiconductor and Revvity both reporting weak fourth-quarter earnings. ON Semiconductor expects earnings of between $1.13 and $1.27 a share, below analysts' consensus. Revvity's earnings of $1.18 a share and revenue of $670.7 million also fell below estimates. Auto makers have been warning about weak demand for electric vehicles. As a result, shares of ON Semiconductor and Tesla fell, with Tesla hitting a five-month low and dropping 5% on Panasonic battery warning.
Tesla's stock dropped 5% today, here's why https://t.co/8Ki9uLeNot
$TSLA closed below $200, hitting a five-month low. What's weighing on the stock? 1️⃣ Battery supplier Panasonic cut production in Japan & guided its annual profit forecast down 15% 2️⃣ Chipmaker ON Semiconductor reported weaker-than-expected profit & revenue guidance https://t.co/qxDde8iQu4
Tesla shares drop 5% on Panasonic battery warning, down 18% since Q3 earnings report https://t.co/Va8s4oYPHj
Tesla shares drop 5% on Panasonic battery warning, down 18% since Q3 earnings report https://t.co/5mn1hS95MC
Shares of On Semiconductor fall 20% as fourth-quarter guidance disappoints Wall Street https://t.co/SkL8rID8Q0
Shares of On Semiconductor fall 20% as fourth-quarter guidance disappoints Wall Street https://t.co/LbQ5ynMbIG
Tesla falls as production cut by battery supplier Panasonic fans EV demand fears https://t.co/i98JEjGXg8 https://t.co/Txjlb8V2qT
Despite a beat on the top and bottom lines for the third quarter, $ON shares slid after posting lower-than-expected Q4 guidance. @Onsemi CEO Hassane El-Khoury discusses what's driving the company's outlook. https://t.co/0nL5lmFPvV
Auto makers have been warning for weeks about weak demand for electric vehicles. https://t.co/PEoDOs3nIH
Onsemi forecasts weak fourth quarter on slowing demand for electric vehicles https://t.co/MxciUIDYD5 https://t.co/y5UGcppI06
Revvity posts third-quarter earnings of $1.18 a share, 1 cent below estimates. Revenue of $670.7 million also came in below forecasts. https://t.co/X7QNYlxjmN
ON Semi expects fourth-quarter earnings of between $1.13 and $1.27 a share, which is below analysts' consensus. https://t.co/0YFrT3eqw3
5 Reasons Why Electric Vehicle Sales Have Slowed https://t.co/VusuUwAs6z