tesla is building and delivering more cars than ever before the electric car maker just not up to a record quarterly profit even as the rest of the industry worries about its future so we'll look at why the road ahead could still be a little bumpy. and corporations take a stand against racism and discrimination is it capitalism with a conscience or just a marketing. kristie to be business in berlin welcome to the program. fessler house reporters record production i'm still livery off its electric cars for the last quarter profits also searched from $16000000.00 a year ago to have a $430000000.00 this time around however safety concerns and gaining competition in the company may not be interest right. from trailblazer to mass market producer analysts are watching closely to see of tesla will successfully make the leap the numbers look good tesla has surpassed expectations with 180000 vehicles sold in the 1st quarter. despite recent setbacks it remains a star on the stock market that $700000000000.00 it's worth more than all the traditional car manufacturers taken together. but the race is n

— on tesla? so far tesla appears to be and _ on tesla? so far tesla appears to be and the _ on tesla? so far tesla appears to be and the owners, - on tesla? so far tesla appears to be and the owners, they - on tesla? so far tesla appears i to be and the owners, they have always pushed boundaries and it has led them to trouble but they seemed to have a bounce back each time. you never quite know what is coming back, you never know if that terrible moment where it is falling apart is coming. this investigation is looking at whether they are overstating their can do but so far tesla seems to have come through every crisis and has just kept growing. as we have seen from these results, that momentum is still there. later today lotus will unveil plans for what it says will be its final petrol—powered design. the firm's cars are part of britain's automotive history — a small sports car company which built a formidable reputation. lotus majority owned these days by the chinese giant geely, is preparing to expand globally. the firm's managing

what is tesla? because years after tesla is launched, i'm still confused as to this shape shifting valuation model applied to this company. adam: i think if you thing about the value of tesla, think about apple, one of the worst kept secrets in tech is that apple is developing a car. how would a company like apple or other mega tech companies approach transportation? how would they approach autonomy, electrification, networking, software, ai? it is more than just unit times price. if you solve for just units for tesla, you get these really ridiculous things like tesla needs 70% market share, and of course, that reinforces people saying we are going haslett. but we think tesla is an installed base play, growing one million cars on the road to 40 million by the end of the decade , and getting an average revenue per unit from their monthly active users and getting software like revenues from that install base. when you start doing that, frankly, you have tesla not covered by old fashion auto analysts l

tesla kicked us off after the bell. we still have to hear from apple, amazon, microsoft, all the big tech heavyweights. if you look at the options countries -- companies expected to move at least 3% in either direction after earnings, so it could be a long week. reporter: thank you. when you talk about the big moves, you have to watch the crypto space. take a look at the chart. bitcoin actually down at the moment, receding from the 53 point. but in intraday trading, it has gained. up almost 5%. crypto stocks gaining. even paypal, which has been associated with bitcoin. i want to go with bitcoin from the big tech names. you were mentioning we are expecting those earnings. kicking it off with amazon, higher on a reported stock slip. that's not the reason apple traded higher today, this was after a $430 billion investment from apple. that will be pretty focused here in the states. you also have spotify gains on plans they could raise prices. once again, more revenue for that music company. lastly, the global autonomous ele

we'll check back in with you when tesla's call gets underway. that happens in about 20 minutes now. >>> shares of lyft on the move in the after hours session the company making a big announcement on its autonomous driving unit dierdra bosa has the details >> lyft has agreed to sell its autonomous driving unit to toyota for $550 million. this is a move that will help it save 100 million in operating expenses and reach adjusted ebitda profitability by the third quarter of this year now, keep in mind uber has also told investors that it would reach that measure of profitability this year, but has not specified when also keep in mind the larger ride sharing company also sold its own self-driving unit to aurora last year at a $10 billion valuation. now, for both of these companies, uber and lyft, auto autonomous driving was always this long-term play, a way to leverage their networks and ultimately reduce one of their biggest costs. that being drivers however, as the pandemic hit bookings over the last year, both companies cut expenses significantly,

that brings me to tesla. tesla is a hot story up 1.2% in , regular trading. down after hours, even though they did beat those estimates. why are they dropping? traders on the floor say it has to do with options pricing and perhaps it wasn't as big as some were expecting. caroline: i love it. i also love the banishing of the vaccine band-aid as well. where was priced. katie grayfield and creed guida -- kriti gupta. just setting us up to describe a little bit deeper into tesla's first quarter earnings. tesla top holding in the firm fund. you caught everyone's attention a little earlier in the year your view on where tesla's price target will go, to $3000, by 2025. what did you hear today that excited you? >> i am most excited about tesla's opportunities in autonomous driving. what we saw in the most recent release is they do plan on releasing the full self-driving beta version of the city streets autonomy software to customers, more customers, soon. tesla also mentioned they are realizing that with the new vision system, that radar is coming unnecessary sooner

tesla is a, i guess, a car company. technology company ask 100 people and you might get 100 different answers. what are we seeing about the future of tesla? a massive jump in car sales. is this pace sustainable supply chain production constraints evs are coming on the market tim, any sign that the audi or other lucid air cars, are they hitting tesla or is it still the dominant force in the market >> it is still the company that beat in the ev space we have seen some success in europe with competitors. tesla is still out there ahead of most companies. the challenge for the year is continuing to be the execution bring the factories online we have seen the model s and model x, older vehicles which are older in the tooth and they are refreshing them. they will start delivering in the second quarter that was a $200 million hit because of the way it is playing out. it illustrates the challenges on executing. if they are delayed with the factories, that will go forward into next year and delay the plans. wall street and invest

tesla earnings out after the closing bell. we will speak with gordon johnson shortly, glc research ceo. earnings could get a huge boost th to tesla's purchase of bitcoin in february, putting 8% of its cash in bitcoin. even if unsold, a 30% rise from the close of february 8, so it could be about a $450 million boost. it looks like a smart investment right now. amanda: it was also seen as a huge vote of confidence for bitcoin, as you will recall, that bitcoin would take this action. it will add some volatility to the stock. we will talk with an investor coming up about how he measures the value of bitcoin these days. matt: looking forward to our interview with gordon johnson as we await tesla earnings. this is bloomberg. ♪ matt: this is bloomberg markets. i am matt miller with amanda lang. we have been talking about tesla. it is out with earnings after the closing bell. take a look at the options implied move for tesla. this will tell us the possible move that we could see either up or down after the earnings are released. 6.2

a shirt saying that tesla's brakes are unsafe. it's getting attention for two reasons. one, you don't see this very often in china, let alone at the shanghai auto show which i've reported from several times. the other thing to keep in mind, this woman has done this other parts of china this is not somebody inspired for the first time to stand up and say i see a wrong and i'm protesting about it. she has been videotaped and it has been documented she has done similar types of protests in other parts of china nonetheless, getting some attention online today melissa. >> supposedly her father was involved in a crash that was in a tesla. so that's what motivated this woman torg across china and protest. >> sure. >> but in terms of the self-driving feature beta tested that's marketed as full self--driving. i would think this they would come under scrutiny. >> correct. >> for what it's called. >> that's what critics are saying, melissa. critics say you saulo call it full self-driving. elon musk was on joe roguen podcast a couple months a

it is a little bit cheeky of tesla. to julianna's other point, when he it comes to overall competition, you have vw and others going big in the space. investors are getting bullish about those companies to make a big dent in the electric vehicle industry how much of a threat does that post to tesla? >> it is always inevitable competitors would go electric. tesla had a ten year advantage in the space ten years ago, it was an investment in the electric car manufacturer today, it is an investment of 5 billion miles of autonomous drive data it has storage it has the sophisticated ai algorithm of all i think competitors fall into three categories the first is traditional brands we are all familiar with the second is new brands to us and then the hybrid which is traditional car manufacturers with a new brand for electric vehicles competition is inevitable because the future of all automotive transport is electric >> i know that you have held on to tesla stock for a long time now and a very profitable trade for you. i have to

we talked tesla next. this is bloomberg. ♪ ♪ >> tesla blew away earnings estimates, recording adjusted earnings per share of $.93. it was a company where the company got better and more efficient building electric vehicles. the bottom line was helped by a record and regulatory credit sales, as well as a $101 million income from sales of bitcoin. tesla bought 1.5 billion dollars of bitcoin and trimmed its holdings by 10%. the company also commented on the global semi conductor shortage, saying it had to shift suppliers during the first quarter but was able to then work with those suppliers to bring its software in line with new chips. they had problems having to quarantine some of their best engineers in china. we also got updates on giga factory berlin and austin. they are on track to produce and deliver vehicles by the end of 2021, although elon musk cautioned that a ramp-up to serial production from prototypes is a difficult task and one that tesla is not taking lightly. annmarie: bloomberg's ed ludl

. >> i still choose tesla for now. >> you still choose tesla? >> yes >> how about you >> buy a tesla >> reporter: they said the biggest draw for the tesla is compared to the chinese models was mainly the functionality of the car. they said at the end of the day it just works a little bit better it's much more seamless. that's one of the reasons because of the data collection that tesla does, it's been able to get that experience and really stay ahead. >> it's one thing to like your car, it's another to sleep in it that's some serious fandom does tesla have cachet there because it's american? does that hurt the brand or is it a nonissue because it comes down to panels he was talking about? >> at the end of the day, the consumers will make the decision in terms of tesla's overall future, right now, tesla is very useful to beijing. it's brought in technology, the supply chain factory if history is anything to go by, beijing will grow tired of tesla and we could already see some of that weariness going on today. the big question for tesla going forw

when tesla number falls -- when tesla numbers fall, i don't look at bitcoin. today it is the most profitable carmaker in the world. no other carmaker could grow 50% a year without burning billions, if not tens of billions of dollars in cash. so tesla is extremely profitable. if you want to look at the bottom line eps headline numbers , then of course as long as you grow 50% a year, you need to have your own production facilities, you can't expect -- [indiscernible] they are going to reinvest the majority of cash into their business, of course. guy: fantastic analysis. thank you very much for taking some time with us today. we really appreciate it. pierre ferragu of new street research on tesla. coming up, we will carry on the conversation around tech. today's headline, we get microsoft. we get alphabet after the bell. we will speak to dan morgan. . , joining us next -- dan morgan, joining us next. this is bloomberg. ♪ ritika: this is "bloomberg markets." 11 madison park owner is coming up. this is bloomberg. ♪ guy: back to the earnings. live from london, i

after a dake of kicking tires -- >> all good but i feel tesla for now. >> tesla >> yeah. >> how about you >> so far so good. need to business tesla. >> reporter: despite official criticism there's a reason the model 3 was the best selling electric vehicle in china last year. carl >> a great spot. eunice yune in china, thanks. >>> in case you missed it last night, facebook's inknock cue louse and ea split an oscar. first time for a video game. read more about that only on cnbc.com and find out why gamestop's ceo is not the only one walking way from the company with millions. more on that next. when "techcheck" continues. ♪ - [narrator] grubhub perks give you deals on all the food that makes you boogie. (upbeat music) get the food you love with perks from- - [crowd] grubhub. >>> time now for a segment we call "person a." last week gamestop announcing ceo george sherman would step down effective july 31 or earlier upon appointment of a successor. according to filings his exit calls for accelerated vesting of over 1 million shares valued at about $169 million as you know, gme is up abou

tesla, earnings, all the rest dan niles. great to see you again love your take. >> good to see you, too, carl. >> all right so i think the lead here, if it's tesla, may be that you think valuation's a little too high to get interested >> yeah. that's really all it is. elon musk is arguably the thomas edison of our generation forced the car industry to get into electric vehicles, kicking and screaming, but if you look at the valuation of the company, $49 billion in revenues. and trading at about $680 billion in market cap. look at volkswagen, about $250 billion in revenues and trading at about $130 billion in market cap. tesla's 15 times ebitda sales. volkswagen, 14.5 full disclosure short the stock. shorted in print yesterday we love ev weren't of our top five picks for this year coming into the year is magna international. traded at 13 pe. not an e.d. to sales but a pe ratio. that stock's up close to 40% this year. and relationship, magna does, and waymo, and korea, ev manufacturers. we love ev. we just want to participate

the tesla model s caught fire. local police said there was no one behind the wheel of the car, which of course led to speculation that perhaps it was an autopilot feature. elon musk blaming deceptive media coverage of that crash, saying there was likely a person in the driver seat and that tesla crash. elon musk also talking about the semiconductor shortage, saying it is a huge problem. we will continue watching that earnings call. play more to come. this is bloomberg. shery: china has expanded its antitrust crackdown beyond jack ma's empire, launching an investigation into monopolistic practices by a food delivery giant. the spring and tom mackenzie in beijing. tom, what are authorities telling them to do? >> the antitrust watchdog here put out a statement on monday, saying there investigating. which as you say, is a food delivery giant. but it also offers direct services around hotel bookings, flights, it is a significant part of the economic fabric here. a major after millions of users on the chinese mainland. r

tesla is getting more and more share. i believe they could be on a trajectory for 300,000 units in china. that is what push them towards one million units as we going to the next year. investors will pay for growth, especially on deliveries. it is a prove me quarter in terms of delivery guidance in 2021. if you look at what is happening in terms of the underlying deliveries and the growth, you cannot deny it. guy: i think i misspoke. i think your price target is around 1000. headroom to go. the product lineup looks ok right now. then they are coming through with nice products, certainly the european. it is the cyber truck the next big push? is that what biggs this dashes is that what gives this stock a little bit of go forward -- is that what gives this talk a little bit of go forward? dan: from a product perspective it is the cyber truck. that is a 2022 -- it is building out for a win. it is what i believe are some of the regulatory changes within the u.s. in terms of the 7500 ev credit going to 10,000, lifting the ceili

of measures but tesla was in a tricky spot heading into today. obviously they enjoyed the first mover advantage in the states for years now but you are seeing more traditional carmakers stepping into that space. volkswagen and general motors in particular. last year it may have peaked already. that was the set up heading into today and the action that you are seeing play out in the stock right now. you've got the likes -- caroline: you've got the likes of gene munster saying everything happened that we thought would happen and maybe we just all tune in on may 8 two "saturday night live," maybe he's using his material on the analysts call right now. but it's not just numbers in sales and the geography, but the movement into bitcoin. katie: absolutely. i was surprised to see that they sold already. i was expecting elon musk to have diamond hands when it came to crypto. but bitcoin doesn't seem to be too ruffled by news of the sale, it's up 11%, quite a rebound. they have had a tough run of it, still not above the 50 day moving average, even with to

it's yet another tragedy in a tesla. we don't know what's happened in this crash but we know there's a long track record of tesla's driver assistance system failing to keep the driver engaged there's videos all over the internet of people failing to use the system properly and failing to do exactly what phil just talked about. these cars don't drive themselves, you have to drive them in a lot of ways, tesla sends a very different signal to people. >> so you're saying it's a marketing problem more than anything else? >> even more than -- marketing is absolutely an issue tesla has overpromised and underdelivered when it comes to the capability of a lot of their vehicles, but even more importantly than what they say, it's what they do. these cars basically almost encourage the driver to disengage. they don't do a good job of monitoring whether you're paying attention. and if you're not, requiring that you grab the wheel and focus on the road. that stands in sharp contrast to cars like cadillac and their super cruise system.

tesla among th

but first, let's talk tesla. jed dor sh heimer joins us we lost the teleprompter there it is good to talk to you. thank you for joining us and i know you recently upgraded the stock of tesla just got the numbers which were a blow out in terms of the bottom line, higher margins, why do you think the stock is down a little bit after ours. >> well what is that saying beauty is in the eye of the beholder, i think you'll get a little bit for the bulls and a little bit for the bears on this one. if you look at the revenues, you have baseline on consensus with a lot of momentum. bears will point to potential slowing of momentum with difficult year over year comps and bulls will look at auto margins that are over 26% and being able to kind of prove out the ability to profitably manufacture the y over in shanghai our call is a little bit different. it is on the energy sector it is a far cry to -- in this quarter, energy is off a very low base and about what we do see here is an eco-system that is building and it is that i

colin: our view is the bill would be nice to have for tesla. the root of what we are expecting year over the next year or two is to see tesla leg out in front of their competition even further with their full self-driving functionality. they have over one million cars on the road that are collecting data. we see about 6 million miles to roll out functionality. we think tesla can roll out that testing on the road in less than six months. to put this in perspective, the million vehicles, compared to several thousand vehicles for all of their competition. their ability to test and sotheir ability to test and validate new functionality is ,really an order of magnitude faster than their competition. we think that is the real key to the stock from here. that is why we are so bullish. that they do have a robust ai system of testing and validating data. and i think they are going to be able to roll out new functionality in advance of their competition and move into level global three plus, and even level four before their competition. emily: all right.

is due to be business on robots in pearland welcome to the program tesla has reported record for duction and delivery of its electric cars for the 1st quarter profits also surged from $16000000.00 a year ago to over 430000000 this time around i have a safety concerns and competition gaining ground in the company may not be in for a snooze right. from trailblazer to mass market producer analysts are watching closely to see if tesla will successfully make the leap the numbers look good tesla has surpassed expectations with 180000 vehicles sold in the 1st quarter . despite recent setbacks it remains a star on the stock market at $700000000000.00 it's worth more than all traditional car manufacturers taken together. but the race is nowhere near finished. with a massive expansion strategy the electric automaker is now trying to increase its sales figures a newly constructed plant and shanghai has already paid for itself every 3rd test is now sold in china and billions are being pumped into the construction of 2 more plants began to factories in germany and texas are due to go online this year

we will check in on tesla after it reported record first quarter deliveries. vaccinations pick up speed in the u.s. variants, still a huge concern. we will get the latest on efforts to stop the spread of covid-19, especially when it comes to children and travelers. changing the face of entrepreneurship. apple and paypal are two big tech firms committing to harlem capital partners, in an effort to support more black and latinx founders through venture capital. we begin with the markets in the u.s. stocks reaching records. to kickoff the week, katie grayfield and abigail doolittle have the latest. katie: it was green across the screen today as he was traders had their first chance to have the blowout job print from friday. the s&p 500, nasdaq 100, semiconductors index, all ended firmly higher today. you sawtek break away from the broader s&p 500 as the rise in rates cooled a little bit. you see the 10-year treasury yield ended flat at 1.7%. this is a trend that has been in the works for the past few weeks. you can see the s&p 500 is about 8.6% higher on the yiel

for more is steve wesley, a man that knows them both very well a former tesla board member. welcome back >> thank you. >> we can delve into the predictions, the deliveries, the earnings and so forth but i think i'll spare that and talk more broadly about this company. i wonder what its mote is and how stiff the competition is going to be for this company that's really had a very nice clean runway for the last five year just is it about to get real crowded >> it is about to get very crowded. i have been the biggest champion on tesla for ten years simply putt they move faster than anybody else, they beat numbers yet again, growing 50% a year why no one else is doing that and the clear innovation leader why they have made the electric vehicle space but there's about to be an avalanche of competition what you to see is the americans coming into the field. gm putting a stake in the ground all electric by 2035 i think vw is toughest competitor and then the chinese coming quickly don't forget they've got a huge cost advantage in labor and battery costs and you have the chinese gove

as you recall, a year ago, that tesla's tax credit, and a rational tesla buyer in the u.s. would be holding off, instead, they get these numbers >> and gordon, with what gene just said, defining the growth number, i feel you're skeptical of it. >> i think the fourth quarter is what matters, what happened in the fourth quarter last year, with china and shanghai fully ramped when they pick the low-hanging fruit out of u.s., china and europe, and their sales boomed just 2% quarter over quarter, despite 15 price hikes over the last year. 52,000 more capacity sold. they produced more cars in this quarter than last quarter. one other thing, keep in mind, they sold significantly less higher margin, with more cars in the quarter and significantly lower 30 y cars. and documented a $300 million hit to the bottom line so you're looking at a high-growth company that's barely growing that's moving more money doing so. and is going to see all of its credit stream disappear. look, these guys are valued at $100 billion vw sales about 2.5 million cars a quarter. and tesla with sales just 2%

tesla with a solid quarterly revenue. surging 74%. the bitcoin helped profits elon musk predicting the model y will be the best selling vehicle. phil lebeau joins us now phil, it is hard to really try to understand this >> it tends to sell off after earnings if you go back the last three or four years, the run up and the earnings come and a sell off i don't make a lot of the action pre-market let's run the numbers that you mentioned for yesterday. beating on the top and bottom line 93 cents a share better than 79 cents a share with revenue at $10.39 billion the numbers within the numbers, these are the important ones that people are focused on and debating as to whether this was a quality earns beat or a beat that some look at and say you have ev credit sales of $518 million. take that out and you would have had a miss free cash flow at $293 million then you have auto gross margins up nearly 100 basis points better than expected here is elon musk talking about the first quarter. >> we have seen a shift in customer perception of electr

tonight no response from tesla, though founder elon musk tweeting hours before the crash, "tesla with autopilot engaged now approaching ten times lower chance of accident than average vehicle. the federal government is investigating more than two dozen tesla incidents. including a driver in boston reportedly asleep at the wheel. >> so i did a double take this guy was just head between his legs, completely asleep. >> reporter: now two agencies sending investigators to try and unravel another tragedy. sam brock, nbc news. >>> as i said at the top of the broadcast, we're in houston to begin nbc news cross-platform coverage of the climate challenges we face and while it's warm and pleasant here today, a series of extreme weather events in this region have left a lingering chill about its future it broke virtually every rainfall record in u.s. history. four years ago hurricane harvey washing away nearly everything in the beal family's home. >> water was everywhere >> reporter: in the house? >> in the house. coming from up under the house, coming from the roof >> reporter: the family of six

tesla has not directly commented on the houston crash. it's also facing at least one federal investigation into post-crash battery fires. faith, mona. >> thank you, megan. >>> in north carolina the woman who held the title of oldest american has now died. hester ford was born in 1904 when life expectancy was only 47. well, she passed away peacefully at the age of 116 and lived through 21 u.s. presidents, two world wars and the civil rights movements and lived to see 125 great grandchildren. she credits her faith for her longevity, not her diet. pancakes and bacon were among her favorite foods. >> i don't know about that one but coming up, a heartfelt tribute as fans remember an actress from the harry potter movies. >>> also ahead, how peloton is fighting back after regulators told parents to stop using a popular treadmill. struggling to manage my type 2 diabetes was knocking me out of my zone, but lowering my a1c with once-weekly ozempic® helped me get back in it. ♪ oh, oh, oh, ozempic® ♪ my zone? lowering my a1c and losing some wei

>> tesla coming off a huge day with these crushing delivery estimates. one analyst says the stock is way overvalued what is the street saying right now? >> the street does not agree with craig irwin, he's with roth capital. we've had him on "squawk box" and other shows. he has maintained this position for some time. he believes this stock, the price target he thinking is appropriate is $150. essentially his argument is there's more competition dumbing. tesla's advantage right now will not be advantages over the next several years when volkswagen, gm, other automakers start rolling out their electric vehicles as well when you look at it from craig irwin's perspective, these advantages will erode. keep in mind they have three huge ones right now. they are numb better one in global sales think about it one out of every five electric vehicles sold in the world is a tesla. they have plans coming online in germany and texas. they have more capacity and more modelings they're rolling out. it's not like overnight they will give up this lead. >> right, exactly, t

which i think what tesla is trying to do right now is keep it edgy and interesting. that's why i actually think partially why they invested in bitcoin which con tuesdayed me as a sustainability investor why they would invest in something that is carbon intensive while they're trying to be the face of clean tech which i'm grateful for obviously as an investor, but confused me. >> yeah. and i think the fact that you did sell some of the bitcoin in the quarter helps to power the bottom line as well. does that mean that you think that tesla could be steering clear of bitcoin and crypto currencies in general? >> this is extremely carbon intensive application, and investing in solar which is great, they did this fantastic vertical integration where they did solar panels, battery storage. you can supplant the dirty grid and make sure your power is clean, your car is clean et cetera, and then invest in probably one of the -- what are the numbers, something like bitcoin mining is the equivalent in energy use of a country like argentina and sweden we're already behind on renew

just three hours before the crash, tesla founder elon musk tweeting, "tesla with autopilot engaged now approaching ten times lower chance of accident than average vehicle." and linsey, we've reached out to tesla for comment, but have not heard back. and police are still trying to figure out exactly what caused the crash in the first place. linsey? >> gio, thank you. >>> and when we come back, the urgent manhunt for a former sheriff's deputy wanted for a deadly triple shooting. to those who can't leave their acne alone. ♪ ♪ we can't make you stop. but we can help get rid of the spots that your acne left behind. differin dark spot correcting serum has the maximum-strength dark spot-fading power you can get without a prescription. make it a part of your routine for consistently clear skin. don't let acne leave its mark. do things differin. i'm greg, i'm 68 years old. i do motivational speaking don't let acne leave its mark. in addition to the substitute teaching. i honestly feel that that's my calling-- to give back to younger people. i think most adults will start realizing that they

tonight no response from tesla, though founder elon musk tweeting hours before the crash, "tesla with autopilot engaged now approaching ten times lower chance of accident than average vehicle. the federal government is investigating more than two dozen tesla incidents. including a driver in boston reportedly asleep at the wheel. >> so i did a double take this guy was just head between his legs, completely asleep. >> reporter: now two agencies sending investigators to try and unravel another tragedy. sam brock, nbc news. >>> as i said at the top of the broadcast, we're in houston to begin nbc news cross-platform coverage of the climate challenges we face and while it's warm and pleasant here today, a series of extreme weather events in this region have left a lingering chill about its future it broke virtually every rainfall record in u.s. history. four years ago hurricane harvey washing away nearly everything in the beal family's home. >> water was everywhere >> reporter: in the house? >> in the house. coming up from up under the house, coming from the roof >> reporter: the family of

is tesla should be soaring on this. and the chart up 11.5% so the point's well taken. and to the chart's point, the company is growing the subscription revenue we just got their first quarter reporting this is a spac, a deal that's been a bit of a roller coaster, but if you're buying it, you're buying with $174 billion of ev incentives announced two days ago by biden for a company near the bottom of this range before this move when it was never priced on value asia anywhere. it's interesting it's a real business >> let's move on to a market flasher on morgan stanley. >> that's right we got an update on the bank, the company ceo saying in a shareholder letter that the bank intends to hike dividends guys federal reserve lifts restrictions it placed on big banks in the wake of the pandemic the fed said it will have to wait until june to revisit dividends so morgan stanley is the first big bank taking action and acknowledging plans to raise that dividend when the time is right. back to you. >> kate, thanks. i expect we'll h

tesla earnings report after the bell. we're cumming back with "kudlow" ♪. larry: hello, welcome back to "kudlow." i'm larry kudlow. great to be with it you. two big tories in today's "wall street journal" what wall street is telling us about the u.s. economic route look, that is one. the west looks past covid-19 and sees economic resurgence. that's another. i thought the first story, they're both important stories, don't get me wrong but i thought the first story was a little soft. yes, it credited government stimulus and vaccines for the booming economy. i don't know. the stimulus is so short-lived. it did note how prepandemic we were producing strong gai f

tesla in in kicks it off off the bell. we have a whole lot of trillion dollar companies that are reporting. the question is, should you be long before they announce? the question stay tuned to find out. ♪. ets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪ ... living with insulin requiring type 1 or 2 diabetes? how does no daily insulin injections sound? omnipod delivers insulin through a tubeless, waterproof pod. and the best part.. no more daily injections! plus, omnipod is covered by most medicare part d plans. get started with a benefits check today. go to omnipod.com for risk information, and instructions for use. consult your healthcare provider before starting on omnipod. simplify diabetes. simplify life. omnipod. municipal bonds don't usually ge

tesla has never said that. tesla has said you must stay engaged. the problem is some people take the word autopilot and say, great, i don't have to do anything while i'm driving. >> phil, will nhtsa or other agencies, state or federal, decide to say, look, you need to change the name of this. can't call it autopilot anymore. >> that's a great question >> or you'll have to create technology effectively that makes it clear that your hands are physically on the wheel otherwise the car doesn't move >> right, right. >> or other types of technological innovations. or as i said, maybe even around the marketing or phrasing, they could do that, no? >> they could. they could >> what do you think has been the resistance thus far? >> well, two things. to my knowledge, and to a certain extent here, i don't know this 100%, andrew to my knowledge, nhtsa has never sat down with tesla and said quit calling it autopilot. now, if they did, tesla might come back and say, wow, we think that's proper marketing of it. we have plenty of warnings here. we made it clear you

plus taking on tesla meet the south korean scientists who says he must shoot the world's 1st driving car by decades why then did it not hit the road . i'm melissa chana thank you for joining us india has expanded its covert 1000 vaccination drive to include everyone over the age of 45 that's in part because not enough people are showing up to get their jabs they're skeptical and wary and other words they have vaccine hesitancy and for a country of 1300000000 the fact just one percent of the population has been fully vaccinated means it could be a long time before the coronavirus is under control their. wall has more. run vista electrical supply shop in delhi once took up all of the time. now he spends some of it on the wall and do a book helping those affected by the fact that rick writes me bush drink away from corporate 19 cases. i've always keeps a protective gear handy in his car in case a patient needs to be rushed to the hospital. he believes his destiny is in god's hands and his fear of the quran or virus shouldn't keep him from helping those in need but so far his fear of inf

will that have an impact well so far there tesla fen basically is seems to be quite forgiving and if you just look at the stock price the stock is actually even trading higher today than it was sobre when we got news of this crash in texas for instance among the other side the stock price is down about 15 percent from its all time high so that you can see that there is a bit of hesitation at least i'm on wall street but all this negative press to that test has gotten into pos couple of weeks and months as a not target business very hard to at least up to this point. reporting in 7 straight profit. or thank you it's. now let's take a look at some of the other business stories making news german tech and media associations are filed an anti trust suit against apple over its new iphone privacy settings these require app makers to tell users what tracking information they want to gather and get permission to do so many users will likely object tracking in the digital ad industry fears a major loss of income apple and facebook are also at loggerheads over the new system. several 1000 cuba

who's tesla facing in terms of competition? last year it led, and it will lead this year as well that's the expectation in terms of ev sales. we're talking pure ev sales. saic is out of china volkswagen not terribly far behind gm down 13th 49,000 pure electric vehicles delivered last year. tesla, gm and volkswagen over the last six months, they've had a heck of a move higher as investors have said yeah, we think these are going to be three of the principle players when we think it comes to pure evs, and that's why these stocks over the last six months have moved higher, in particular when you look at general motors that's really been the move there. speaking of gm, it unveiled the hummer ev suv over the weekend and i know some people have said well didn't they already show the hummer didn't they show that in the fall what they showed was the sut that is the pickup truck version of hummer, the electric hummer that's coming in 2023. this is the suv version. so they have high hopes for hummer, guys they believe that is one of thos

is the futuristish tesla feature that drivers love. >> we're on autopilot. >> reporter: tesla says the system is designed to reduce the workload of attentive drivers, but it's facing new scrutiny after this crash in a texas neighborhood last week. police say this 2019 tesla model-s slammed into a tree with nobody in the driver's seat. both men on board died. >> reporter: the tesla design studio. >> reporter: ceo elon musk says car data logs showed autopilot was not enabled. even still, the crash prompted two federal investigations and a demonstration by "consumer reports." >> no one shut operate their car like this on a road. >> reporter: on a closed course test drivers say they were easily to trick autopilot into operating without somebody behind the wheel. the driver sets the system speed to zero and climbs into the passenger seat while the driver side seat beltre mains buckled. >> i was able to increase the set speed by turning the wheel on the steering wheel and at this point i was completely driving on autopilot with no one in the driver's seat. >> i was horrified when i saw what

tesla had great numbers. we will see. does the good news dominate, or does some of this rotate away from the -- caroline: no confetti. joe: and no digital trading cards for me tonight. that was two weeks ago. that is old news. caroline: so passe. romaine: bloomberg technology is next. this is bloomberg. ♪ s is bloomberg. ♪ so many people are overweight now and asking themselves, "why can't i lose weight?" for most, the reason is insulin resistance, and they don't even know they have it. conventional starvation diets don't address insulin resistance. that's why they don't work. now there's golo. golo helps with insulin resistance, getting rid of sugar cravings, helps control stress and emotional eating and losing weight. go to golo.com and see how golo can change your life. that's golo.com. ♪ emily: i'm emily chang in san francisco. this is "bloomberg technology." coming up, u.s. stocks climbing to a record amid evidence the economic recovery is gaining momentum. we will check in on tesla after it reported record fir

this is after their tesla crashes in a fiery wreck. why that investigation is certaintied who or what is driving the car. >> and alex superstar alex morgan stopped by "the kelly clarkson show." how quarantine allowed her to focus on being a mom. that's coming up this afternoon at 3:00. jack, toss me the frisbee. i can do you one better... with cheddar. everything's better with cheddar. like my new cheddar biscuit breakfast sandwiches with cheddar baked right in. only at jack in the box. make breakfast better with cheddar. my new cheddar biscuit breakfast sandwiches. with cheese baked right into the biscuit, hickory-smoked bacon or grilled sausage, and a freshly-cracked egg. try'em today. only at jack in the box. officers say there was a struggle and that the man suffered some kind of medical emergency while they were trying to detain him. the sheriff's office and district attorney are now both investigating. >>> and investigators are probing a fatal car accident in texas involving a tesla. authorities say that no one was behind the whe

strong profits bad new electric car maker tesla topped expectations with its 1st quarter earnings but is that enough to offset recent reports of protests or fatal crush also on the show a possible shot in the arm for europe's tourism industry the e.u. is preparing to welcome american travelers again this summer as the vaccination pain in the us sitting strong. you as electric car maker tells its 7th straight profitable quarter the company reporting 1st quarter earnings of $438000000.00 beating market expectations but the news comes as the company faces growing competition as well as accusations of quality and safety problems from trailblazer to mass market producer analysts are watching closely to see of tesla will successfully make the leap the numbers look good tesla has surpassed expectations with 180000 vehicles sold in the 1st quarter. despite recent setbacks it remains a star on the stock market at $700000000000.00 it's worth more than all traditional car manufacturers taken together. but the race is nowhere near finished. with a massive expansion strategy the electric automaker

hey, did you know this did you know tesla is basically unchanged for 2021 tesla. sliding ever lower after the peak when it joined the s&p 500. seasoned investors know not to chase stocks up huge when you have a big gain. you ring the register but navest traders can't exist. you have to sell the news, not buy it again, until a few months ago, tesla was the greatest stock story told up 1,200% this is the stuff dreams are made of. tesla's incredible run, the run brought in legions of young investors. they bought the stock but no, they were never happy with just the stock, right they had to buy the call options two and get more leverage and b borrow money some of the firms don't let you borrow call options work great when stocks are soaring but when stocks stagnate or go lower, there is nothing worse especially the out of money or let's say the -- well, the in the money, at the money, oh my, they all got worthless because tesla has stopped going up now, some of that is because the sector rotation with money managers swapping out a fast growing stock for the boom and b

tesla has been very quiet today. peloton with respect to its treadmill is saying we want to cooperate with the consumer product safety commission but when used in a safe way, the product is safe. let's set aside j&j. what should the executives of those two companies, tesla and peloton, say now. >> thanks for the invitation of course to join the chorus welcoming kelly back, so wouldn't miss that opportunity tomorrow when you're all in studio you should play the great theme about together at last but there are great historic lessons that you can think of when of course tylenol handled -- johnson & johnson handled the tylenol situation. mary barra took charge at general motors there are things to do to not attack the critics, not to be stand-offish we see peloton a little defensive. tesla goes silent. we've seen those happen before with mark zuckerberg and facebook and others too. the mishandling of the equifax data breach. what they have had to do is embrace the critics, get the board engaged, speak with a single voice

tesla says you have to pay attention. you can't fall asleep, get distracted, read a text,e held responsible for or anything else. on the flip side, if people do things they should not be doing, it raises the question of whether tesla should be held responsible for this technology in a fashion i shouldn't be used in is it the technology or the driver >> phil, tesla is also facing new questions in china after video showed a protester on top of one of the cars, accusing it of having faulty brakes. the show kicked off today with automakers all unveiling their new models automakers all unveiling their for years, people have been trading in gas guzzlers for cleaner versions electric vehicles are hogging the spotlight. here is eunice yoon with the shanghai auto show >> reporter: at the shanghai auto show, it seems like everyone is pushing an ev, even brands that have held off until now. the consumers is very familiar with the cadillac brand. we're showing what connectification is really. >> this is a big day f sect connectificat

we've reached out to tesla for comment. so far no response this afternoon elon musk did tweet thatdata log show auto pilot was not even engaged phil lebeau covers the auto industry for us. what else do we know about this so far >> not a whole lot, shep, i think the most interesting thing is what you just mentioned, what elon musk tweeted this afternoon, and the tweet was specifically to this question about whether or not the auto pilot function of this vehicle was engaged. and he answers the beginning of this saying your research as a private individual is better than the professionals at the wsg. then he wrote data logs recovered so far show auto pilot was not enabled and this car did not purchase fsd, that stands for full driving technology. auto pilot would require lane lights to turn on, which this street did not have. this is not the end of it. in response to that tweet, investigators in the houston area where this accident took place have said that they will be serving search warrants to tesla tomorrow so they can sec

>> i'm going to go with a household name and go with tesla. >> i've been waiting for tesla i've been waiting for that. >> andre, why tesla given this is one of those stocks that people are a little scared to be long after its run >> i think elon musk is genius everyone has been talking about their picks, the art innovation where you get a lot of different variables within the stock you get -- tesla fits into it. we talk about the effect any time elon tweets anything, dogecoin has become a billion dollar market and you see the crypto space going up. you can actually buy tesla with bitcoin. the data, we talk about data being keen right now and tesla being at the forefront of the potential autonomous vehicles. you talk about the everyday tesla taking over the bmw series in terms of value on the streets, and then the cyber truck is coming soon too so a lot of excitement. you have a cult following. i feel like in nine months it can jump up again. >> melissa noted that you seemed to react when petra took zoom. do you wish you had petra's zoom >> that kind of hurt me deep down zoom 2.0 as c