Year: 2020

(Bloomberg) — Elon Musk’s fortune is coming back down to Earth.After an epic six-day rally, Tesla Inc. shares tumbled 17% Wednesday, the most in eight years, cutting the chief executive officer’s fortune by $5.9 billion. The stock had surged to a record close of $887.06 a day earlier, rocketing Musk to No. 20 on the Bloomberg Billionaires Index, just past John and Jacqueline Badger Mars, the owners of candy-maker Mars Inc.Musk, 48, ended the day at No. 25 on the ranking with a net worth of $39.3 billion. He started the year at No. 35.Even before the plunge, investors and …read more […]

U.S. insurer MetLife Inc reported a 37.3% jump in quarterly adjusted profit on Wednesday, helped by higher premiums and a rise in net investment income. Life insurers make money by investing coverage premiums into stocks and bonds, hoping to earn more than what they pay out in claims. Premiums and fees rose 24% to $13.76 billion in the quarter. …read more […]

Firm boosts positions in media companies, Macy’s and Buffett’s conglomerate Continue reading… …read more […]

Last year Amazon paid 0% in taxes — this year they only paid 1.2%. …read more […]

Yahoo Finance speaks with Peloton co-founder John Foley about the year ahead. …read more […]

Canaccord downgraded Tesla’s stock to ‘hold,’ saying it believes investors will be able to get a more attractive entry point down the road. Yahoo Finance’s Melody Hahm joins Seana Smith on The Ticker to discuss. …read more […]

Burger King got defensive after a customer filed a lawsuit complaining that the cooked plant-based patties were on the same grill as its meat burgers. Yahoo Finance’s On The Move panel shares the details.
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Drama ensued at the State of the Union Address after House Speaker Nancy Pelosi ripped apart President Trump’s speech. Yahoo Finance’s On The Move panel breaks it down. …read more […]

(Bloomberg) — The incredible six-day, 60% rally in Tesla Inc. that left Wall Street watchers scratching their heads screeched to a halt Wednesday.The electric-vehicle maker fell as much as 21% to $704.11 in New York, erasing most of the gains the stock saw over the past two days amid what seemed like an unstoppable advance. Tesla had added 36% to its value in the first two days of the week, but by Wednesday afternoon, it was just 7.7% higher than where it opened Monday morning, and 12% above Friday’s close. The breather comes as analysts at Canaccord Genuity cut their …read more […]