Autos

Tesla plus SpaceX: what the numbers say before anyone says merger

Both boards have formed committees to study a combination. The two quarters they would be combining could hardly look more different.

Tesla is spending like a tech company now. Here's where the money is going.

Capital spending more than doubled and R&D rose 69% while car sales stayed flat. The cash pile still grew.

Tesla's margins improve, but operating profit falls by more than half

Sales were flat at $28 billion. A 69% jump in research spending took most of the profit.

Tesla (TSLA): Haverhill Research Report

Investors pay about $1.25 trillion for autonomy and robots on a business earning a 1.4% operating margin. Rated Sell, Haverhill price target $308.

Rivian (RIVN): Haverhill Research Report

R2 lifts Rivian's deliveries, but its cars still lose money and cash keeps draining. Rated Hold, Haverhill price target $13.

Joby Aviation (JOBY): Haverhill Research Report

Joby nears FAA certification with $2.26B of cash, but burn and dilution cap the upside. Rated Hold, Haverhill price target $6.00.