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Tesla shares jump on battery news ahead of Q1 earnings

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Tesla shares jump on battery news ahead of Q1 earnings

Tesla Motors are jumping today ahead of the electric car maker’s pending announcement next week, which is expected to focus on stationary power batteries.After Report of Model S Fire, Shares Of Tesla Drop 6 Percent

But at the same time, first-quarter earnings will be released after the market close on May 6, and analysts are already buzzing. Tesla shares were up 5.42%, or $11.35, to $220.76 in midday trading. Barclays analyst Brian Johnson says in a note to investors that electric-car maker Tesla finds itself in an interesting place. It has its a non-automotive announcement due next week, no expected bombshells out of China and is on the cusp rolling in a new wave of excitement over its next vehicle, the Model X crossover due out this summer.

Johnson, who is neutral on the stock, notes that Tesla’s deliveries were mostly to the U.S. and Europe in the first quarter. That momentum, plus some extra sales in Asia, will likely continue into Q2. While he thinks the Palo Alto, Calif.-based company looks to be able to fulfill its guidance of being able to deliver 12,000 cars in the second quarter, he’s less unsure that it can move 55,000 into customers’ hands next year as expected.

Uncertainty centers on possible pullbacks in electric-car subsidies in Norway, the continuing China dilemma, anyproduction issues that crop up around the Model X and buyers opting for a well-equipped new entry-level Model S sedan instead of the high-priced performance version.

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