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Tesla European sales fell in some markets and were outpaced by BYD in August

A number of European countries have reported August vehicle registration data and, for the eighth month in a row, Tesla has seen its sales decline in some of those markets. Sales were down year over year in Sweden, the Netherlands, France, Denmark, and Italy, but were up in Norway, Portugal and Spain, Reuters reports.

Reuters noted that in Norway and Spain, where Tesla sales were up, Tesla competitor BYD outpaced its American counterpart last month and saw sales growth of more than 200% and 400%, respectively. Tesla’s monthly sales in any one European country are usually in the hundreds or low thousands, allowing for big monthly percentage swings over just a few hundred cars. Across the continent, BYD outsold Tesla again in July; August data for the entire EU will be out later this month.

Tesla has struggled in Europe, which is its third-biggest market this year, with CEO Elon Musk blaming the lack of approval for supervised full self-driving technology there, while others cite Musk’s unwelcome political machinations in European markets. BYD has said Tesla’s problem is not enough options, with the American company currently offering only two models on the continent.

Reuters noted that in Norway and Spain, where Tesla sales were up, Tesla competitor BYD outpaced its American counterpart last month and saw sales growth of more than 200% and 400%, respectively. Tesla’s monthly sales in any one European country are usually in the hundreds or low thousands, allowing for big monthly percentage swings over just a few hundred cars. Across the continent, BYD outsold Tesla again in July; August data for the entire EU will be out later this month.

Tesla has struggled in Europe, which is its third-biggest market this year, with CEO Elon Musk blaming the lack of approval for supervised full self-driving technology there, while others cite Musk’s unwelcome political machinations in European markets. BYD has said Tesla’s problem is not enough options, with the American company currently offering only two models on the continent.

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eBay stock slumps on gloomy Q4 outlook despite solid Q3 earnings

Shares of eBay fell as much as 10.5% in premarket trading on Thursday morning after the company gave a lower-than-expected profit forecast for the important holiday shopping season.

The e-commerce giant reported solid numbers for the third quarter on Wednesday, with revenue up 9% as reported to $2.8 billion and gross merchandise volume rising 10% to $20.1 billion, topping the average analyst forecast of $19.4 billion, per Bloomberg.

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.

A screenshot from Hims & Hers' website. (Sherwood News)

Hims to begin selling GLP-1 microdosing treatments

The company reports earnings results next Monday.

Premium seats help push airlines higher following third-quarter results

Shares of American Airlines are climbing toward the carrier’s best trading day since August 12, when ultra-budget rival Spirit issued its initial warning about its ability to survive. American’s shares are up more than 7% on Friday afternoon.

Investors’ optimism comes a day after American posted a better-than-expected full-year earnings forecast. In a call with investors, American said that it’s ramping up its premium cabin offerings.

“Our ability to grow capacity in premium markets will be further supported as we take delivery of new aircraft and reconfigure our existing fleet. These efforts will allow us to grow our premium seats at nearly two times the rate of main cabin seats,” CEO Robert Isom said. American CFO Devin May said that nose-to-tail retrofits of certain wide-body jets will bump the number of premium seats available on those planes by 25%.

Extra legroom has been a boon for major carriers, particularly this quarter. Delta Air Lines said its premium product revenue grew 9% in Q3, compared to a 4% drop in economy seat revenue. Similarly, United Airlines said its premium revenue grew 6%, outpacing economy. Shares of both airlines were up more than 3% on Friday.

Carriers with less exposure to first- and business-class tickets like Southwest Airlines and JetBlue didn’t see the same amount of momentum on the day.

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