Tesla shares surge after earnings beat, and China crackdown intensifies

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 26 July 2021

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Shares of the EV maker were higher after the company delivered better than expected earnings and revenue for the latest quarter. Loup Ventures’ Gene Munster breaks down the results. Plus Beijing’s crackdown on big tech expanding on Monday, sending shares of Chinese internet players sinking again. Should you hang onto these names or is it time to cut and run?

Transcript

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0:00.0	Live in the Nasdaq market site overlooking New York City's Times Square, this is Fast
0:06.2	Money.
0:07.2	I'm Melissa Lee.
0:08.2	Tonight's straighter lineup.
0:09.2	Tim Seymour, Dan Nathan, Karen Feinerman, and Guy Adami, tonight on Fast, the Great
0:12.2	Crackdown continues.
0:13.8	China turning up the heat again today on U.S. list of Chinese stocks, how our traders
0:17.6	are protecting their exposure to the regulatory route.
0:20.3	Plus, Bitcoin breaking out the cryptocurrencies soaring back above that $40,000 level will
0:25.8	break down what is driving this big move.
0:27.7	We're watching shares of Intel in the after hours of companies CEO kicking off a webcast
0:31.6	right now with an update on the chip maker's plans for the future will break in with any
0:36.0	big headlines here.
0:37.0	But we start off with an earnings alert on Tesla.
0:39.1	The stock is higher after posting a B in this latest report.
0:41.6	The company's call kicks off in less than 30 minutes from now.
0:44.8	Let's get straight to fill a bow with more fill.
0:47.4	Melissa, this is the first quarter that Tesla's net income topped a billion dollars.
0:52.2	The company easily beating the street on both the top and the bottom line.
0:55.7	This earnings per share, a buck 45, the street was expecting the company to earn 98 cents
1:00.1	a share, revenue coming in much better than expected, not a surprise with the record
1:04.2	deliveries that the company saw, $11.96 billion versus the estimate of $11.3 billion.
	...

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