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Tesla's market value set to gain $50 billion on record EV deliveries

Tesla's market value set to gain $50 billion on record EV deliveries

By , (Reuters) - Tesla Inc was set to add about $50 billion to its market value as the electric car-maker’s shares surged on Monday, after it posted record deliveries on strong demand in China that helped it offset the impact of a global shortage in auto parts.The stock jumped nearly 8% in pre-market trading and it was on track to hit its highest in over a month.The company said on Friday it was encouraged by the strong reception of its Model Y crossover in China and it was quickly progressing to full production capacity.Analysts remained hopeful as despite a global chip shortage that has...

Apr 5
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Big data firm Palantir signals slower annual revenue growth, shares fall

Big data firm Palantir signals slower annual revenue growth, shares fall

By (Reuters) - Tech billionaire Peter Thiel-backed data analytics firm Palantir Technologies Inc on Tuesday signaled revenue growth would slow this year, casting a shadow on its better-than-expected quarterly results and sending its shares down 9%.Slideshow The company forecast a revenue growth of 30% in 2021, slower than the 47% rise in 2020 when it added large government contracts, including those from the U.S. Army and Air Force.Known for its work with the Central Intelligence Agency and other government agencies, Palantir has also been partnering with big private sector names including...

Feb 16
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Tesla's value drops $50 billion as Musk's promised cheaper battery three years away

Tesla's value drops $50 billion as Musk's promised cheaper battery three years away

By , , Tesla’s market cap dropped $20 billion in just two hours after trading closed Tuesday, as Musk and other Tesla executives presented their new battery and manufacturing strategies. Shares closed down 5.6% and dropped another 6.9% after hours.“Nothing Musk discussed about batteries is a done deal,” said Roth Capital Partners analyst Craig Irwin. “There was nothing tangible.”Investors had expected two significant announcements at Musk’s oft-touted “Battery Day”: The development of a “million mile” battery good for 10 years or more, and a specific cost reduction target -- expressed in...

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September 22, 2020
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Uber, Lyft drivers are employees, says California regulator

Uber, Lyft drivers are employees, says California regulator

Canada (Reuters) - Drivers working for ride-hailing services such as Uber Technologies Inc () and Lyft Inc () will be considered employees under California’s new gig worker law, the state’s leading industry regulator said on Thursday. Shares in Uber and Lyft fell 5.3% and 4.2%, respectively, in early trading, with the new order striking at the heart of the “gig economy” business model of technology platforms like Uber and Lyft that rely on cheaper contract workers. The decision, by the California Public Utilities Commission (CPUC), which regulates ride-hailing companies across the state,...

June 11, 2020
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