May 2018 – Page 140

The price of Musk cutting off analysts? For Tesla, it’s $2 billion

May 3, 2018 admin Comments Off

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 […]

China’s Xiaomi files for mega Hong Kong IPO, lifts lid on financials

May 3, 2018 admin Comments Off

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.

…read more […]

China’s Xiaomi files for IPO; FY17 revenue jumps 68 percent

May 3, 2018 admin Comments Off

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.

…read more […]

The price of cutting off analysts? For Tesla, it’s $2 billion

May 3, 2018 admin Comments Off

SAN FRANCISCO (Reuters) – Ducking analysts’ questions has a price: $2 billion.

…read more […]

Spotify hits wrong note with new customer forecast

May 3, 2018 admin Comments Off

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.

…read more […]

Asia shares shackled by trade tensions, dollar stays firm

May 3, 2018 admin Comments Off

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.

…read more […]

3 Top Stocks Wall Street Is Overlooking

May 3, 2018 admin Comments Off

Don’t let these three promising stocks quietly pass you buy. …read more […]

U.S. judge approves gun maker Remington’s bankruptcy plan

May 3, 2018 admin Comments Off

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.

…read more […]

U.S. investment house backs changes at Australia’s scandal-hit AMP: Fairfax

May 3, 2018 admin Comments Off

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.

…read more […]

Exelixis: 1Q Earnings Snapshot

May 3, 2018 admin Comments Off

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 […]

Jaguar appoints new manufacturing chief to transform plants for electric future

May 3, 2018 admin Comments Off

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.

…read more […]

Cambridge Analytica and British parent shut down after Facebook scandal

May 3, 2018 admin Comments Off

(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.

…read more […]

U.S. judge OK’s gun maker Remington’s bankruptcy plan

May 3, 2018 admin Comments Off

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.

…read more […]

Tesla posts record 1Q loss as cash burn accelerates

May 3, 2018 admin Comments Off

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 […]

Amazon makes bid to spoil Walmart-Flipkart deal: report

May 3, 2018 admin Comments Off

BENGALURU/MUMBAI (Reuters) – Amazon.com Inc has made a formal offer to buy 60 percent of Flipkart, CNBC-TV18 reported on Wednesday, potentially complicating Walmart Inc’s bid for majority ownership of the Indian online retailer.

…read more […]