Early trading in shares of Tesla Inc. (NASDAQ: TSLA) will gauge investor reaction to the end of founder Elon Musk’s attempt to go private. According to Reuters:
Investors on Monday will render their verdict on Tesla Inc Chief Executive Elon Musk’s decision to abandon a proposed $72 billion buyout to take the luxury electric car maker private.
Musk said in a blog post late on Friday that his decision to scuttle the proposed deal was motivated in part by existing Tesla shareholders who said they wanted the company to remain publicly-traded.
“Crazy Rich Asians” was number one at the box office again. According to Box Office Mojo:
With an impressive $25 million, WB’s Crazy Rich Asians dropped just 5.7% compared to its opening weekend, easily remaining the #1 film at the weekend box office. The film’s domestic gross now totals over $76 million after just 12 days in release, on its way to what looks like it could be a $150+ million domestic run.
The United States may have a new trade relationship with Mexico. According to The Wall Street Journal:
The U.S. and Mexico could reach a bilateral agreement as early as Monday on the key issues holding back a renegotiation of the North American Free Trade Agreement, according to Mexico’s chief trade negotiator Ildefonso Guajardo.
Mr. Guajardo and the rest of Mexico’s trade delegation arrived at the office of the U.S. Trade Representative around midday Sunday—after negotiating in Washington, D.C. for weeks—and said they would do whatever necessary, including working into the night, to reach an agreement with the U.S. that would then allow the return of Canada to the talks
Uber is getting into the electric bike business. According to the Financial Times:
Uber is planning a shift in emphasis from cars to electric bicycles and scooters for shorter journeys as part of its long-term strategy, according to the ride-hailing app’s chief executive.
Dara Khosrowshahi said more individual modes of transport were better suited to inner-city travel, despite snatching revenues away from Uber’s drivers. He admitted that in the short term the move would mean a further financial hit for a company that had losses of $4.5 billion last year.
A Russian car company wants into the electric car business. According to CNNMoney:
Kalashnikov has joined the rush of companies hoping to make it big with electric cars.
The producer of the AK-47 unveiled an electric concept vehicle on Thursday at a Russian arms show called Army 2018.
Comments by the Federal Reserve chief will push stocks higher. According to Reuters:
U.S. stock futures hit a record high early on Monday in Asia after U.S. Federal Reserve Chairman Jerome Powell said on Friday that a gradual approach to raising rates remains appropriate to protect the U.S. economy and job growth.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
