Business News
The price of Musk cutting off analysts? For Tesla, it’s $2 billion
SAN FRANCISCO (Reuters) – Ducking analysts’ questions has a price: $2 billion.
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The price of Musk cutting off analysts? For Tesla, it’s $2 billion
Ducking analysts’ questions has a price: $2 billion. Tesla Inc investors gave a rare rebuke to iconoclastic Chief Executive Elon Musk on Wednesday after he cut off analysts asking about profit potential, sending shares down 5 percent despite promises that production of the troubled Model 3 electric car was on track. Tesla’s future depends on the Model 3 and the company said that it had largely overcome production bottlenecks, with Musk vowing a dramatic turnaround that would reverse losses and generate positive cash flow in just a few months. …read more […]
Business News
China’s Xiaomi files for mega Hong Kong IPO, lifts lid on financials
BEIJING (Reuters) – Smartphone and connected device maker Xiaomi [IPO-XMGP.HK] filed for a Hong Kong initial public offering on Thursday, in what is expected to be the largest listing by a Chinese tech company in almost four years.
Business News
China’s Xiaomi files for IPO; FY17 revenue jumps 68 percent
BEIJING (Reuters) – Smartphone and connected device maker Xiaomi [IPO-XMGP.HK] filed for a Hong Kong initial public offering on Thursday, in what is expected to be one of the largest listings by a Chinese tech company in almost four years.
Business News
The price of cutting off analysts? For Tesla, it’s $2 billion
SAN FRANCISCO (Reuters) – Ducking analysts’ questions has a price: $2 billion.
Business News
Spotify hits wrong note with new customer forecast
LONDON/BENGALURU (Reuters) – Spotify Technology SA missed the beat on Wednesday. The streaming music leader fell short of investor hopes that it could turn free music listeners into paying subscribers at a faster clip, and its shares dropped as much as 9 percent.
Business News
Asia shares shackled by trade tensions, dollar stays firm
SYDNEY (Reuters) – Asian shares were subdued on Thursday ahead of anxiously-awaited Sino-U.S. trade talks, while the U.S. dollar consolidated recent bumper gains after the Federal Reserve reaffirmed the outlook for more rate hikes this year.
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3 Top Stocks Wall Street Is Overlooking
Don’t let these three promising stocks quietly pass you buy. …read more […]
Business News
U.S. judge approves gun maker Remington’s bankruptcy plan
NEW YORK (Reuters) – Weapons manufacturer Remington Outdoor Company Inc won approval for its bankruptcy plan on Wednesday, paving the way for the company to slash debt, boost its cash position and better weather the uncertain climate for firearms in the United States.
Business News
U.S. investment house backs changes at Australia’s scandal-hit AMP: Fairfax
SYDNEY (Reuters) – The largest shareholder in Australia’s AMP Ltd , U.S. investment house Harris Associates, supports the ouster of top executives after damaging revelations of misconduct at the wealth manager, Fairfax Media reported on Thursday.
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Exelixis: 1Q Earnings Snapshot
Exelixis Inc. (EXEL) on Wednesday reported first-quarter earnings of $115.9 million. The South San Francisco, California-based company said it had profit of 37 cents per share. The results exceeded Wall … …read more […]
Business News
Jaguar appoints new manufacturing chief to transform plants for electric future
LONDON (Reuters) – Britain’s biggest carmaker Jaguar Land Rover (JLR) is replacing its director for manufacturing as it prepares its plants for an electrified future, the firm said on Thursday.
Business News
Cambridge Analytica and British parent shut down after Facebook scandal
(Reuters) – Cambridge Analytica, the firm embroiled in a controversy over its handling of Facebook Inc user data, and its British parent SCL Elections Ltd, are shutting down immediately after suffering a sharp drop in business, the company said on Wednesday.
Business News
U.S. judge OK’s gun maker Remington’s bankruptcy plan
NEW YORK (Reuters) – Remington Outdoor Company Inc won approval for its bankruptcy plan on Wednesday, paving the way for the arms maker to slash debt, boost its cash position and better weather the uncertain climate for firearms in the United States.
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Tesla posts record 1Q loss as cash burn accelerates
Tesla’s record net loss in the first quarter and fast-burn through cash is raising questions about the company’s future and whether it will be able to pay all of its bills. Wednesday’s results showed Tesla tearing through $745.3 million in cash in the first quarter, which may put pressure on it to borrow more money or sell additional shares to raise additional cash. Tesla said it began the quarter with $3.96 billion in cash and equivalents, but that fell to $3.22 billion at the quarter’s end. …read more […]