Published: Wed, October 03, 2018
Markets | By Terence Owen

Tesla misses one Model 3 goal, hits another, faces stiff Chinese tariff

Tesla misses one Model 3 goal, hits another, faces stiff Chinese tariff

The news comes after Musk and the SEC reached a settlement to resolve a lawsuit alleging that Musk's August tweet that he had "funding secured" to take Tesla private was misleading to investors.

The SEC charges against Musk shaved about $7 billion off Tesla's value.

Those results-they're not now scheduled, but last year's were announced on November 1-could be particularly noteworthy, with Musk repeatedly suggesting that the company could report a quarterly profit for the period.

The news of Tesla CEO Elon Musk settling with US financial regulators sent the company's stock soaring Monday morning.

As part of the settlement, Tesla will appoint an independent chairman, two independent directors, and a board committee to set controls over Mr Musk's communications under the proposed agreement. Musk has pledged that Tesla would record profits and positive free cash flow in the third and fourth quarters this year.

In response to a question asking whether he thought Tesla would 'make it as a vehicle company, ' Gore replied: 'Yes!

Dallas police fire Officer Amber Guyger
When an officer has been arrested for a crime, adverse conduct is often cited in the officer's termination, he said. When she put her key in the apartment door, which was unlocked and slightly ajar, it opened, the affidavit said .

Typhoon Trami injures 45, direct hit on Japan mainland expected
Services between Shin-Osaka and Hiroshima as well as many local railway services in western Japan were also halted. The typhoon is expected to move up the country in a north-easterly direction over Sunday and into Monday.

Russian Federation to supply S-300 missile defence systems to Syria
In his call with Netanyahu, Putin said he disagreed with the Israeli version of events concerning the downing of the Russian plane.

FILE PHOTO: Tesla Motors CEO Elon Musk reveals the Tesla Energy Powerwall Home Battery during an event in Hawthorne, California, U.S., April 30, 2015. Moreover, as part of the settlement, he will remain ineligible for re-electing as the company's chairman for another three years. He is staying on as CEO, but giving up his chairmanship.

Tesla's own ability to further accelerate that transition will be tested in coming months by the success of the company's Tesla 3 deliveries this last quarter and the current one just started.

The shares closed at $307.52 on Thursday before the SEC announced its enforcement action over the tweets, in which Musk said he had "funding secured" to take the company private at $420 a share.

Tesla jumped as much as 19% to $315.45 at 7:45 am NY time, more than enough to offset Friday's 14% plunge.

"Our focus remains on the continued ramp of Model 3 production and delivering for our customers, shareholders and employees". For one, the market for trading emissions credits-which has previously been Tesla's path to profitable quarters-has dried up. The agency also required that the company pay US$20 million in penalties to settle separate claims related to Musk's use of social media.

Like this: