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Tesla crosses $100 billion stock market valuation in extended trading

January 22, 2020 admin Comments Off on Tesla crosses $100 billion stock market valuation in extended trading

The milestone comes less than a month after Tesla’s stock crossed $420, the infamous price at which Chief Executive Officer Elon Musk had tweeted he would take the electric car maker private. Musk tweeted he had “funding secured” to take Tesla private in August 2018, when its shares were trading in the mid-$330s, only to later give up under investor pressure and regulatory concerns. Tesla shares were last up 1.4% at $555 after the bell, building on a 7.2% gain during trading when brokerage New Street Research raised its price target to $800. …read more […]

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New Low-Cost iPhone to Enter Mass Production in February

January 22, 2020 admin Comments Off on New Low-Cost iPhone to Enter Mass Production in February

(Bloomberg) — Apple Inc. suppliers plan to begin assembling a new low-cost iPhone in February, people familiar with the plan said, as the company looks to address a wider swath of the global smartphone market ahead of its 5G handsets later this year.The Cupertino, California-based company is expected to officially unveil the new phone as early as March, one person familiar with its road map said. The assembly work for the new handset will be split among Hon Hai Precision Industry, Pegatron Corp. and Wistron Corp., the people added.This will be the first lower-cost iPhone model since the iPhone SE. …read more […]

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Boeing Sees 737 Max Return Slipping to Midyear, Adding to Strain

January 22, 2020 admin Comments Off on Boeing Sees 737 Max Return Slipping to Midyear, Adding to Strain

(Bloomberg) — Boeing Co. said its grounded 737 Max won’t be cleared to fly until the middle of this year, at least six months later than previously anticipated, adding to the company’s financial burden.The U.S. planemaker is resetting expectations as it addresses two recent setbacks for the embattled Max: a software flaw that will require more work than expected and an audit that found some wiring on the plane needs to be shifted. The final determination on when the Max will fly again remains in the hands of U.S. regulators, Boeing said in a statement Tuesday.The worsening timeline deepens the …read more […]