Shares of Tesla are gaining ground in the premarket – up more than seven per cent – after the company reported record fourth-quarter revenue and topped profit expectations in Q4, in spite of some margin compression.
ground in the premarket – up more than seven per cent – after the company reported record fourth-quarter revenue and topped profit expectations in Q4, in spite of some margin compression. The company is also teasing the potential for a significant ramp-up in production, with CEO Elon Musk saying there's potential to produce two million vehicles this year as the company increases output “as quickly as possible” – including bringing the Cybertruck to market in 2023.
The New York Stock Exchange says a manual error caused those wild price swings and trading halts in hundred of stocks in early trading Tuesday, due to an issue with the exchange's “disaster recovery configuration.” IBM is joining the ranks of big tech firms slashing jobs, announcing plans to eliminate about 3,900 positions, or about 1.5 per cent of its global workforce.
Shares of Diageo are under pressure – down six per cent or so – after the booze purveyor reported a slowdown in sales in North America. RBC is trimming its price target on shares of Cineplex to $12 due to concerns over lower attendance in the fourth quarter, but still says the company is among its top picks in the media industry.Notable data: Survey of Employment, Payrolls and Hours, U.S. Initial Jobless Claims, U.S. Real GDP, U.S. Advance Economic Indicators Report, U.S. Durable Goods Orders, U.S. New Home Sales
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk takes stand for third day in fraud trial over 2018 Tesla buyout tweetElon Musk is defending against claims he defrauded investors by tweeting in 2018 that he had ‘funding secured’ to take Tesla private at $420 per share, and that ‘investor support is confirmed’
Read more »
Tesla’s slowing sales, shrinking margins in focus in EV price warWednesday’s earnings report is expect to exhibit underwhelming deliveries
Read more »
Elon Musk takes stand for 3rd day in Tesla investors lawsuitElon Musk returned to the stand for a third day Tuesday in federal court in San Francisco to testify in a trial stemming from a class action lawsuit brought by Tesla investors who allege he misled them with a tweet.
Read more »
Musk oversaw falsified video of Tesla 'self-driving' capabilitiesThe CEO directed specific edits to a video now tied to a U.S. Justice Department probe about whether the automaker misled customers
Read more »
Musk oversaw falsified video of Tesla 'self-driving' capabilitiesThe CEO directed specific edits to a video now tied to a U.S. Justice Department probe about whether the automaker misled customers
Read more »
Elon Musk defiantly defends himself in Tesla tweet trialElon Musk returned to federal court to defend himself against a class-action lawsuit that alleges he misled Tesla shareholders with a tweet about an aborted buyout that the billionaire defiantly insisted Tuesday he could have pulled off, had he wanted.
Read more »