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Tesla will report second-quarter earnings after the bell on Tuesday. The company's vehicle deliveries report on July 2 was better than analysts feared, but still represented a decline from the previous year.
Elon Musk has said he is planning to pledge about $45 million a month to a newly formed super PAC backing former President Donald Trump's White House bid, the Wall Street Journal reported Monday, citing people familiar with the matter.
Elon Musk posted on X that he "fully" endorses Donald Trump moments after the former president and presumptive Republican nominee was rushed off stage by secret service members following gunshots at a rally in Pennsylvania on Saturday.
Tesla's stock price rose enough on Friday to wipe out its loss for the year and bring its gain for the week to 27%.
Tesla shares jumped 10% on Tuesday after the company posted second-quarter vehicle production and deliveries numbers that beat analyst expectations.
Tesla has issued two more recalls for its Cybertruck pickups in the U.S., as the automaker continues to face challenges with its newest electric vehicle about six months after beginning deliveries.
Tesla's hefty downsizing since 2023 has reduced its global head count to just over 121,000 people, including temporary workers, internal records suggest, indicating that the automaker has slashed more than 14% of its workforce so far this year.
The entire value of the S&P 500 currently stands at $45.5 trillion, according to FactSet. Tesla CEO Elon Musk claimed on Thursday that his company's Optimus humanoid robots could eventually make the automaker worth more than half of that.