Mark Zuckerberg’s fortune plunged $18 billion as shares of Meta Platforms Inc. tumbled, allowing Tesla Inc.’s Elon Musk to cement his status as the world’s third-richest billionaire.
Documents filed by Tesla with the state of California show nearly 3,000 workers in Fremont and Palo Alto will be among the mass layoffs announced by the electric automaker earlier this month.
U.S. stocks drifted to a mixed finish Wednesday as Wall Street’s momentum eased following some sharp swerves. The S&P 500 was virtually flat and edged up by 1.08, or less than 0.1%, to 5,071.63. It had jumped sharply in the first two days of the week to claw back nearly two-thirds of last week’s steep loss.
The U.S. stockmarket took a breather on Wednesday, ending the day little changed amid slew of corporate earnings reports, and ahead of some key economic data scheduled for the end of the week. The Dow Industrial Average closed down fractionally,
Tesla CEO Elon Musk offered an outline of the company's plans to move forward with a lower-cost EV compared to its current platform next year, with production to start in early 2025.
The chasm between what Elon Musk says about commercializing self-driving technology and what Tesla Inc. says later in regulatory filings has never been wider.
Like a Taylor Swift midnight album drop, the Tesla earnings call is a moment of shared, almost communal, focus. Branded is a weekly column devoted to the intersection of marketing, business, design, and culture.
The biggest challenge holding back the transition to electric vehicles is the lack of affordable options. And Tesla, the biggest EV maker in the country, just reported its first quarterly sales decline since 2020.
CEO Elon Musk had warned earlier that the company would cut about 10% of its global workforce. Now legal disclosures have revealed new details. Earlier this month, Elon Musk sent a memo to Tesla employees announcing that the EV maker would cut “more than 10%” of its global workforce in order to help the company prepare for its next phase of growth.
Asian shares mostly declined Thursday as investors awaited a flood of global earnings reports, including updates from U.S. tech companies known as the “Magnificent Seven.” Japan's benchmark Nikkei 225 slid 1.
Buried in the earnings release, Tesla did something it doesn’t typically do: It gave investors some firm dates on near-term plans. There’s very little good news in Tesla’s Q1 earnings. Earnings per share and revenues both missed analyst expectations.
Tesla’s first-quarter earnings could have been an extreme disappointment to the bulls who just last week, let alone last year, were expecting a much better outcome. True to form, however, CEO Elon Musk used the conference call to talk about anything except their automotive business.
Elon Musk's new plan to use current product lines as the basis for new affordable vehicles — rather than springing for all-new models — follows the playbook of Tesla's old-school Detroit rivals, as some Tesla investors and analysts see it.
Elon Musk’s artificial intelligence startup X.AI Corp. is nearing a deal to raise $6 billion in a funding round that would value the company at $18 billion, according to a person familiar with the matter.
Tesla would “accelerate the launch of new models”, he said on Tuesday, including a promised “affordable” car better priced to compete with an impending influx of ultra-cheap Chinese rivals in the US market.
April’s sharp stock-market selloff has taken Wall Street’s most extreme bullish sentiment down a couple of notches. But the tone isn’t yet bad enough to imply an attractive entry point for investors,
Profits from Tesla’s energy business were up 140 percent compared with the same period last year, and Musk asserted yesterday that the division will continue to grow “significantly faster than the car business.
Tesla shares surged about 10% on Wednesday after the electric-car maker eased some worries about slowing growth with its plans to roll out more affordable models in early 2025.
The Tesla CEO scrapped plans to build his low-cost car using a revolutionary new technique, opting to save money and bring the model to market sooner to reignite growth.
Shares of Tesla Inc. advanced 4.97% to $170.18 Thursday, on what proved to be an all-around rough trading session for the stock market, with the NASDAQ Composite Index falling 0.64% to 15,611.76 and Dow Jones Industrial Average falling 0.
Ron Baron, Baron Capital chairman and CEO, joins 'Squawk Box' to discuss the latest market trends, Baron's Tesla investment, Elon Musk's leadership, Tesla's robotaxi ambitions and road ahead, EV demand,
It’s a classic Elon Musk move. Tesla released some pretty grim first-quarter numbers on Tuesday, showing that net income dropped more than 50% from last year. During the earnings call, however, Musk floated his “new” vision for the electric car company.
Shares of Tesla (NASDAQ: TSLA) were surging today as investors looked past the weak first-quarter earnings report from the leader in electric vehicles (EVs). They were instead swayed by CEO Elon Musk's insistence that the stock should be valued as an artificial intelligence (AI) and robotics company rather than an auto stock.
But even resolving every safety concern may not stop Tesla’s entire EV business from becoming a hazard. Yesterday afternoon, the world’s most valuable car company released its earnings report for the first quarter of 2024,
Investors had a mixed experience on Wednesday as Tesla’s rally couldn’t drive the stock market for long. The EV maker’s stock was among the best performers on the S&P 500, gaining over 11% in the late afternoon.
It’s a classic Elon Musk move. Tesla released some pretty grim first-quarter numbers on Tuesday, showing that net income dropped more than 50% from last year. During the earnings call, however, Musk floated his “new” vision for the electric car company.
Tesla shares gained 12% Wednesday, a day after the electric vehicle maker announced an accelerated production timeline for new products despite missing analyst expectations. Bank of America upgraded Tesla stock to a "buy" rating,
Another big earnings day strikes Wall Street, with results due from Meta Platforms, among others. Follow along for live stock news and updates on other markets, including the Dow Jones Industrial Average,
Tesla is slashing more than 2,700 Bay Area jobs, including major layoffs at the company’s electric vehicle. The staffing reductions at the Austin-based electric car maker — which has its engineering headquarters in Palo Alto — represent the largest single round of job cuts by a tech company since the tech sector began its current series of Bay Area layoffs in 2022.
For all of Tesla CEO Elon Musk's statements about artificial intelligence being the future of the company, the vast majority of its income is still derived from automotive sales. These amounted to $16.
U.S. stocks are drifting lower in mixed trading. The S&P 500 edged down 0.3% Wednesday after a two-day winning streak erased nearly two-thirds of last week’s steep loss. The Dow
X’s chief troll is inciting a “censorship” moral panic in Brazil, undermining the democratically elected government’s efforts to squash far-right extremism.