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Top Midday Stories: Tesla Q4 Deliveries Miss Estimates; Constellation Energy Awarded $840 Million Power Contract to Supply US Agencies
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Top Midday Stories: Tesla Q4 Deliveries Miss Estimates; Constellation Energy Awarded $840 Million Power Contract to Supply US Agencies
Jan 2, 2025 9:07 AM

11:48 AM EST, 01/02/2025 (MT Newswires) -- All three major US stock indexes were up in late-morning trading Thursday -- the first day of trading in the new year.

In company news, Tesla (TSLA) on Thursday reported a year-over-year drop in vehicle deliveries for 2024, with Q4 figures missing Wall Street estimates. Tesla delivered 495,570 vehicles in Q4, up from 484,507 in the year-ago period but below the FactSet-polled consensus of 498,000 vehicles. For full-year 2024, Tesla delivered about 1.79 million vehicles, down from 1.81 million in 2023. Production fell to roughly 1.77 million units in 2024 from 1.85 million units the year prior. Tesla shares were down almost 5% near noon.

Constellation Energy ( CEG ) said Thursday it was awarded a 10-year, $840 million contract to supply power to more than 13 federal government agencies. Under the terms of the deal, Constellation will supply the US General Services Administration with over 1 million megawatt hours annually, starting in 2025. Constellation shares were up 6.4%.

Unity Software ( U ) shares rose on Thursday morning following a cryptic social media post late Wednesday by investor Keith Gill, also known as "Roaring Kitty," according to media reports. Unity shares were up 8%.

Carvana ( CVNA ) shored up its numbers through "related-party accounting games" while its market was falling, short-seller Hindenburg Research said Thursday in a report. Hindenburg said the online used car dealer could've raised "significant" capital and de-risked its balance sheet any time during its "two incredible stock runs," but instead it "pushed off creditors and engaged in accounting games while the CEO's father dumps billions in stock." Carvana ( CVNA ) shares were up 3.6%.

Price: 383.96, Change: -19.88, Percent Change: -4.92

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