Tesla unveils self-driving upgrade, Barbie buoys Mattel, Microsoft results on tap
Tesla (TSLA) said it will install hardware in all new cars so that they can drive themselves. But there’s a catch: The software necessary for the system to work won’t be ready for some time. Tesla expects to roll out the software starting in December if regulators approve it. CEO Elon Musk’s goal is to demonstrate a vehicle traveling in fully autonomous mode from LA to New York by the end of next year.
Mattel (MAT) stock was higher this morning after the toymaker delivered third quarter revenue that was slightly better-than-expected. Even though sales were little changed from a year ago, girls’ toys such as Barbie and American Girl doll saw strong sales growth. Barbie sales jumped about 16% from a year ago, while sales of American Girl products increased 14%.
Microsoft (MSFT) is set to report quarterly results after the close today. Analysts want to see if the tech giant’s bet on the cloud will continue to pay off. Wall Street is looking for a profit of $0.68 a share. That’s up a penny from a year ago. Revenue is estimated to come in flat from a year ago at $21.7 billion.
Walgreens (WBA) posted earnings that beat forecasts, but revenue fell short of estimates for its fiscal fourth quarter. The company also said it now expects its deal with Rite Aid to close in early 2017, instead of this year as it looks to divest more stores to gain regulatory approval.
American Express (AXP) shares were up sharply in early trading. The credit card issuer raised its earnings outlook for the year after it reported earning and revenue that topped analysts’ estimates in the quarter ending September 30th. Amex benefited from card fees and spending by card holders in the third quarter. However, both earnings and revenue fell from a year ago as the company’s 16-year deal with Costco (COST) ended.
