Tesla Tops, Solar City Drops

        Tesla Motors(TLSA) released its second quarter earnings report after hours today with a surprise profit of 20 cents per share. This greatly topped analyst expectations, most of whom were expecting a loss after Tesla posted its first profit in ten years last quarter. Its revenue came in at $405 million, which greatly the Wall Street consensus of $383 million. The company also reported selling over 5,000 of its flagship cars, much higher than the expectations of 4,500. TSLA has been jumping between 10-15% after hours due to its extreme volatility. This report follows the news that Tesla has gained a 9% market share for US luxury cars, which sent the stock up an accumulated 5% this week. Before the release of its earnings however, it dropped 5% on fears of a wide loss. Tesla has also recently stated they are earning big bucks through selling carbon credits to other large corporations.

        SolarCity(SCTY) also released its 2nd quarter earnings report after hours, sending shares into a volatile frenzy. SCTY started off up 4% cents but then shot down 8%. The company reported gross profit of $15.5 million, a 41% increase from the same period last year. Though operating expenses greatly increased due to internal factors, it reported contracted payments rising to $1.4 billion. The Megawatts it has deployed has grown an impressive 144% and it expects to deploy between 70-77 MW in the next quarter. Its revenue and next quarter guidance came in line with consensus, but its stock dropped as the Solar Industry came under pressure from a series of earnings misses by other key industry players.

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