On August 7, Tesla (TSLA) stock surged 11.0% to $379.57 after CEO Elon Musk’s tweet about taking the company private. However, the stock couldn’t sustain these gains as its stock fell 2.4% on August 8. Today at 3:10 PM EDT, TSLA stock fell 5.5% to $350.11. Auto stocks (XLY) General Motors (GM), Ford (F), and Fiat Chrysler (FCAU) returned -0.4%, -1.2%, and -1.5%, respectively, on the day.
Dan Caplinger, The Motley FoolMotley FoolAugust 9, 2018, 8:36 PM GMT. Wall Street was prepared for the stock market to make a record run on Thursday, but major benchmarks failed to cooperate with those plans and ended the day mixed. Investors appear to be digesting a substantial recovery from lows several months ago, but it'll take some additional push to get the indexes back to all-time highs. Some bad news from several individual companies also dampened sentiment among those following the market's moves. Seagate Technology (NASDAQ: STX), Ultra Petroleum (NASDAQ: UPL), and Tesla (NASDAQ: TSLA) were among the worst performers on the day.
A possible move by Tesla to go private could hurt the electric car maker's credit standing as cash flow remains tight, according to Moody's Investors Service. The ratings agency did not cut it its rating of Tesla's debt but did express concern about the potential move, calling it "credit negative." Tesla founder Elon Musk earlier this week shocked markets when he said he is contemplating moving the company out of the public realm , saying he had the financing for a deal that would be worth $420 a share. Moody's noted that the company is making progress in production and delivery of its Model 3, has a strong list of orders and is keeping its capital investments lower than expected.
Shares of electric-car maker Tesla (NASDAQ: TSLA) have fallen today, down by 6% as of 3 p.m. EDT, after The Wall Street Journal reported that the SEC was probing CEO Elon Musk's comments on social media. Earlier this week, Musk announced on social media that he was "considering taking Tesla private at $420" and that he had already secured funding for a potential deal, leading to shares skyrocketing -- and briefly being halted -- on Tuesday. Seeing as how any such deal would be the largest leveraged buyout (LBO) ever made, plenty of questions have arisen as to where Musk could procure that kind of money. However, the SEC is less concerned about the details of the deal, and more interested in whether Musk was misleading investors. Tesla's board (excluding Musk's brother Kimbal and Steve Jurvetson, who is on leave following sexual harassment allegations) has also confirmed that it is discussing the possibility. If Tesla can provide sufficient documentation that Tesla is serious about going private and that the whole narrative isn't merely a social media hoax, it should be able to satisfy regulatory inquiries. But investors will still want to know where all that money will come from.
SEC said to be looking into Tesla before Musk tweet: Bloo...
CNBC VideosAugust 9, 2018, 7:39 PM GMT.
CNBC's Phil LeBeau reports the SEC plans to broaden their probe into Tesla after CEO Elon Musk announced he's planning to take the company private on Twitter.
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Facebook says removing content on 3D printing of guns.
ReutersAugust 9, 2018, 7:33 PM GMT.
(Reuters) - Facebook Inc (FB.O) is removing content related to instructions on 3D printing of firearms, a company spokesperson said on Thursday, as debate around access to gun in the United States intensifies.
"Sharing instructions on how to print firearms using 3D printers is not allowed under our Community Standards. In line with our policies, we are removing this content from Facebook," the social media giant said.
Facebook did not clarify if it would remove only the related posts or the host pages and accounts as well, but said it would soon share an updated policy on restricted goods.
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Tesla shares fall 5 percent on Wall St. skepticism, SEC probe reports. NEW YORK (Reuters) - Tesla Inc's (TSLA.O) shares slipped more than 5 percent to a two-day low on Thursday, wiping out all the gains fueled by Chief Executive Elon Musk's recent tweet announcing a plan to take the company private. Shares fell early in the day following Wall Street's skeptical response to Musk's idea of going private and a Wall Street Journal report on Wednesday that the U.S. Securities and Exchange Commission was asking Tesla why Musk announced his plans on Twitter and whether his statement was truthful. The shares fell further on Thursday after Bloomberg reported that the SEC already had been looking at Tesla's public statements, citing two unnamed people it said were familiar with the matter.
Microsoft Corp. threatened to suspend web-hosting services it provides to Gab.ai after getting complaints about anti-Semitic posts on the social-media site, a new twist in the technology industry’s controversial crackdown on hate speech. Microsoft’s Azure cloud-computing division said it would take action in two business days if Gab didn’t address two posts that prompted complaints about "malicious activity" and potentially violate the software giant’s "acceptable use" policies, according to a post on Thursday by Gab. The action Thursday shows how the tech industry’s efforts to tackle hate speech online is extending beyond big social-media services like Facebook Inc. and Google’s YouTube to cloud-computing companies that provide web-hosting services to smaller sites. Some of those smaller sites can gain traffic by welcoming users who have been kicked off larger platforms. A handful of high-profile right-wing Twitter users have established a presence on Gab. Some of the content posted on the service led Apple Inc. and Google to refuse to distribute its smartphone app through their app stores.
Announcement: Moody's says Tesla's consideration to go private based on CEO's note is credit negative. New York, August 09, 2018 -- Moody's Investors Service said that Tesla, Inc. (Tesla) CEO's note to employees that he is considering taking Tesla, Inc. private is credit negative, but does not affect the ratings (CFR of B3, Sr Unsecured of Caa1, negative outlook) at this time. Although Tesla indicated that the company's board of directors is evaluating the merits of the company becoming private, no details concerning potential funding sources or targeted capital structure have been disclosed.
MARKET PULSE The U.S. Securities and Exchange Commission is "intensifying" its probe into Tesla Inc. (tsla) public statements after Chief Executive Elon Musk's tweet on Tuesday about taking the company private, according to a Bloomberg News report that cited two people familiar with the matter.