Tesla Spent $531000 an Hour in Q2

Tesla has posted its largest ever loss in its latest quarterly financial results, continuing its trend of burning ever greater quantities of cash.

At 12:30 pm ET, Tesla shares were trading at $348, about a 6.8% gain since the market opened. Founder and CEO Elon Musk assured investors during an earnings call for the company's second-quarter of 2017 on Wednesday that that will not be the case. Musk anxious investors last week when he warned that Tesla was about to embark on "at least six months of manufacturing hell" as it tried to get Model 3 production to 5,000 cars per week by December. That's primarily down to Model 3 equipment and Gigafactory 1 construction, though expansion of the Supercharger network - along with its dealership and servicing networks - will also contribute to that. "That's the one part of the financials that are a little bit troubling".

At least 20 killed in blast at Afghanistan mosque
A suicide attack on a Shi'ite mosque in the western Afghan city of Herat has killed more than 29 people and wounded more than 64. Areas dominated by Shia Muslims in Afghanistan have been hit by attacks repeatedly in the past year, by both IS and the Taliban.

The company must consider its options quickly if it intends on satisfying customers' demands for the Model 3, a auto that has fascinated people because of its $35,000 price tag but that also lacks the range many motorists prefer.

But most of the attention was focused on the Model 3, which was delivered to its first 30 customers - all Tesla employees - last week. That may not be enough for many customers, especially those who prefer a vehicle with a longer range.

White House expected to name Nielsen new deputy chief of staff
Many instances of Donald Trump humiliating his now sacked Chief of Staff Reince Priebus are appearing in the media. In a CNN interview Scaramucci used an old saying - "The fish stinks from the head down" - in describing Priebus.

Tesla also manages to report a wonderful increase in its automotive revenue by a whopping 93% compared to the same quarter a year ago; the searing figures for the automotive revenue is greatly influenced by the 53$ growth in deliveries and, according to the company, "a smaller percentage of vehicles sold with residual value risk that was subject to lease accounting". This is because unlike other Tesla models which are admittedly rather pricey, the Model 3 will be a slightly more affordable Tesla vehicle, meaning that those who have been coveting a Tesla, the Model 3 could be their gateway into the Tesla world. Tesla's report states that leading up to and beyond the Model 3 launch event, "weekly net order rate for these vehicles was about 15 percent higher" than average with deliveries up 53 percent relative to the same quarter past year. Less wiring means more automation in the production process, and Musk has said he plans to introduce more robots into Tesla's production line.

"This growing demand gives us even more reason to expect increased deliveries of Model S and Model X in the second half of this year", the letter added. And it certainly didn't help that Musk himself recently warned that the company would face "manufacturing hell" as it ramps up production.

Broncos sign linebacker with Shane Ray out 2 months
The Broncos are hoping to have him back by their third regular-season game, at Buffalo on September 24. With Booker expected to miss six weeks, the Broncos signed free-agent running back Stevan Ridley.

The newest-model Tesla has a starting price of $35,000, compared with the company's Model S, which starts at $68,000, and the Model X, which starts at $82,500.

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