What Investors Missed in the Market Last Week

Good news for investors came when gross domestic product figures for the second quarter were announced on July 28: Americans started spending more during the spring months! More specifically, GDP increased at an annual rate of 2.6% during the second quarter, far higher than the first quarter's revised 1.2% growth.

Along with the upbeat economic data, earnings season is heating up with many companies reporting second-quarter results. Here are some of last week's highlights from companies making big moves or announcements.

One of the major stories last week came from Tesla (NASDAQ: TSLA): The company's long-awaited Model 3 was delivered to a handful of lucky employees. A lot rests on the success of the Model 3 as the company attempts to turn into a profitable automaker and distance itself from its cash-burning ways. The $35,000 Model 3 was designed for mass production, and management is aiming to hit a production rate of 20,000 per month by year-end before reaching its 500,000 annual target for 2018.

Source: Fool.com