After Lawsuits, Facebook Announces Changes To Alleged Discriminatory Ad Targeting
Tonight’s Powerball Drawing Reaches $448 Million
US Dollar Down, S&P 500 Shows Weakness After Decidedly Dovish Fed
Powerball jackpot soars to $550 million after top prize goes unclaimed
U.S. stocks rally after Federal Reserve announces no 2019 rate hikes
Tesla shares fall 5 percent amid news of expansive SEC probe
12 August 2018, 12:36 | Hattie Nash
Tesla CEO Elon Musk has offered no evidence to back up a tweet stating he had “funding secured” to take the company private.
David Paul Morris Bloomberg
That means they've now given back nearly all the gains following Musk's Tuesday morning tweet that he had confirmed funding for taking the company private at $420 a share.
"What investors are waiting for is more details around what is meant when Elon Musk says funding is secured", George Galliers, an analyst at Evercore ISI who rates Tesla the equivalent of a hold, said on Bloomberg Television.
Trading on Tesla's stock was stopped Tuesday following Musk's tweets, which sent shareholders and reporters into a scramble. Securities and Exchange Commission has since begun to make its own inquiries to check the veracity of Musk's controversial tweet.
Tesla shares fell 2.4 percent to $370.34 on Wednesday after closing up 11 percent on Tuesday.
Wall Street and Washington have the same question for Elon Musk: Where's the money? The company has completed more than 50 successful Falcon launches and snagged billions of dollars in contracts, including from NASA and the U.S. Department of Defense. Musk, who's insisted for months that the company wouldn't need to seek more funding this year, replied: "I'm not sure what you're talking about, but there's no such notice from a regulator".
The agreement would be the largest purchase based on debt of all time, surpassing the record of USA $ 45 billion established by the firm of Texas Energy Future Holdings.
On Twitter, Musk stated that he is considering to take Tesla private for $420/share, at a secured funding. Musk could be asked to recuse himself from the diligence process.
Musk and SoftBank held unsuccessful talks about a take-private deal in April 2017, according to a source familiar with the matter. The talks failed to progress due to disagreements over ownership and have not started up again.
EPL: Manchester United vs Leicester City
However, a move did not materialise and Mourinho must now work with the same central defensive setup as he did last season. Had they not got to the final of the Champions League last season I actually think they could have finished second.
China's Tencent Holdings Ltd, which took a 5 percent stake in Tesla past year, could also be a possible partner. Tesla shareholder, Ross Gerber, told IGTV he initially thought Musk's Twitter account had been hacked, before the announcement was confirmed by his investor relations representative. Tesla could seek SEC approval to make a tender offer exclusively to its small shareholders while retaining larger institutional owners, John Coffee, a professor of law at Columbia University, said in an interview.
Like Musk's tweet and email to employees, the directors' statement didn't contain details on how the buyout would be financed.
Speculation has been swirling around Tesla and Musk's disclosures amid the yearlong struggle the company had ramping up production of the Model 3 sedan, the first vehicle that the company has attempted to mass manufacture. Private market experts say they are unclear how that would work. He said, "we are subject to wild swings in our stock price that can be a major distraction" and being public 'subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long term.
The six board members who issued the statement on Wednesday included James Murdoch, chief executive of Twenty-First Century Fox Inc and Brad Buss, who was the chief financial officer of solar panel maker SolarCity until it was bought by Tesla in 2016.
Tiger Woods highlights from Rd. 2 of the 2018 PGA Championship
Those birdies after his big blunder stood out to Finau, one of only 11 players to make the cut in all four majors this year. It is only the second time in major-championship history that two scores of 63 or better have been shot in the same round.
Simpson in hot seat for US Ryder Cup team
Garcia has but one top 10 in his last 11 global starts, that coming at the French Open in July, where he tied for eighth. It was just a reality that his status as one of the greatest golfers ensured a hoopla of distractions wherever he went.
Ryan Fox still in touch with US PGA Championship leaderboard
He reached the par-5 eighth hole in two shots and two-putted for a birdie to climb to four under and six shots off the pace. At the par-3 sixth he blasted out to 14 feet and sank the clutch par putt, then parred seven before the storm struck.
Ikea opens its first Indian store in Hyderabad
Its first showroom will display more than 7,500 of its products, of which 1,000 will sell for less than 200 rupees ($2.91) apiece. At the Hyderabad store, it now has 8 female forklift drivers and has recruited around 100 girls from the DISHA pilot project.
Chelsea Send Batshuayi, Zouma Out On Loan
The Belgium worldwide , who impressed big time at Dortmund, will now hope to play a regular first-team football in Spain . The Blues have confirmed that Belgian striker Michy Batshuayi will spend the upcoming season on loan at Valencia .