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Search resuls for: "Rebecca Elliott"


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☆ Tesla Warns of Uncertainties as It Posts Record Profit
  + stars: | 2023-01-26 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Elon Musk sought to quell Wall Street’s concerns about demand for Tesla Inc. vehicles, suggesting recent price cuts have fueled a surge in orders. “We currently are seeing orders at almost twice the rate of production,” Mr. Musk said Wednesday after the company reported record quarterly profit in its earnings report for the final three months of 2022. Wall Street’s faith in the EV maker has been shaken in recent months as the company faced challenges including higher interest rates, stiffer competition and diminished brand popularity.
☆ Tesla Posts Record Quarterly Earnings Amid Wall Street Unease
  + stars: | 2023-01-26 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Tesla Inc. warned of an uncertain period ahead as it reported record quarterly profit for the final three months of 2022. Elon Musk‘s electric-car maker said Wednesday that it had a fourth-quarter profit of nearly $3.7 billion, up 59% from a year earlier. The figure, which came even as vehicle-delivery growth slowed, was below the $3.8 billion Wall Street expected.
☆ Tesla Poised for Record Quarterly Earnings Amid Wall Street Unease
  + stars: | 2023-01-25 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Tesla Inc. is poised to report record quarterly profit for the final three months of 2022 as Wall Street hungers for clarity on the company’s growth plans in light of apparent demand weakness. Elon Musk‘s electric-car maker is forecast to report nearly $3.8 billion in fourth-quarter profit, up around 62% from a year earlier, according to analysts surveyed by FactSet , even as vehicle-delivery growth slowed.
☆ Elon Musk Testifies He Had Funding to Take Tesla Private, Citing SpaceX, Saudi Arabia
  + stars: | 2023-01-24 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Elon Musk said he had funding to take Tesla Inc. private when he floated the idea in 2018, saying that financing from Saudi Arabia’s sovereign-wealth fund and his own stake in rocket-company SpaceX would have provided sufficient capital. “With the SpaceX stock alone, I felt funding was secured,” Mr. Musk said Monday in his second day on the stand in a case brought by investors who say they lost money because of his tweets proposing to take the car company private.
☆ How Presidential Documents Are Supposed to Be Archived
  + stars: | 2023-01-20 | by ( Wall Street Journal | ) www.wsj.com   time to read: 1 min
Elon Musk’s Tesla Tweets Trial: What to Know Tesla CEO Elon Musk is set to testify in a federal trial over tweets from 2018 in which he floated the possibility of taking the company private. WSJ’s Rebecca Elliott explains what to know about the trial. Illustration: Adele Morgan
☆ Elon Musk Trial Opens to Debate Over Nature of Tesla Tweets
  + stars: | 2023-01-19 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
The trial over Elon Musk’s 2018 tweets about potentially taking Tesla Inc. private quickly focused on whether those statements were fraudulent or the rushed shorthand of a chief executive earnestly trying to communicate with shareholders. The class-action case being tried in federal court centers on Mr. Musk’s tweets more than four years ago floating the possibility of taking Tesla private and the effect they had on individual investors’ decision making.
☆ What if Tesla Is…Just a Car Company?
  + stars: | 2023-01-14 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
A year ago, Elon Musk’s Tesla Inc. was thriving, the unrivaled leader in electric cars with a valuation that had peaked above $1.2 trillion. Today, it faces problems that have gashed Mr. Musk’s wealth and shaken faith in the company at the center of his business empire. Rather than looking like one of the world’s fast-growing tech giants, which is how it was valued by investors, it now looks more like a car company.
☆ What If Tesla Is…Just a Car Company?
  + stars: | 2023-01-13 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
A year ago, Elon Musk’s Tesla Inc. was thriving, the unrivaled leader in electric cars with a valuation that had peaked above $1.2 trillion. Today, it faces problems that have gashed Mr. Musk’s wealth and shaken faith in the company at the center of his business empire. Rather than looking like one of the world’s fast-growing tech giants, which is how it was valued by investors, it now looks more like a car company.
☆ Tesla Cuts Prices Across Models Sold in U.S.
  + stars: | 2023-01-13 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Tesla Inc. cut prices for some of its vehicles sold in the U.S. by nearly 20%, aiming to lure new buyers at a time Wall Street is concerned appetite for the car maker’s vehicles is weakening. The cuts, which span Tesla’s lineup, are likely to allow some buyers to qualify for a $7,500 U.S. government tax credit.
☆ Elon Musk’s Tesla Comes Up Short of 2022 Delivery Target as Growth Slows
  + stars: | 2023-01-02 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Tesla says changes in how the company produces cars and distributes them to customers left more vehicles in transit to their final destination at year-end. Tesla Inc. delivered fewer vehicles in 2022 than it initially targeted, capping a year during which the stock suffer its worst annual performance as demand appeared to soften and Covid-related production disruptions persisted. Elon Musk‘s electric-vehicle maker said Monday that it delivered around 1.31 million vehicles last year, up roughly 40% from 2021. The company would have needed to hand over more than 1.4 million vehicles to meet its initial goal of increasing deliveries by 50% or more. Tesla signaled in October that it likely would come up short of its target, and Wall Street had already moderated its delivery expectations to around 1.34 million for 2022, according to FactSet .
☆ Tesla Shares Head for Worst Year Ever as Elon Musk Focuses on Twitter
  + stars: | 2022-12-24 | by ( Rebecca Elliott | Nate Rattner | ) www.wsj.com   time to read: 1 min
Tesla Inc. is on pace for its worst annual stock performance on record as investors bristle at Elon Musk‘s Twitter Inc. ownership, as well as declining demand for the car company’s electric vehicles and slumps in the broader market in a higher interest rate environment. Tesla’s share slide marks a sharp reversal for the world’s most valuable car company. The electric-vehicle maker had been one of the auto industry’s biggest winners during the early 2020s, a period plagued by chip shortages, snarled global supply chains and shutdowns related to Covid-19.
☆ Elon Musk Sold More Than $3.5 Billion Worth of Tesla Shares
  + stars: | 2022-12-14 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Elon Musk sold nearly 22 million Tesla shares over three days this month. Elon Musk sold more than $3.5 billion worth of Tesla Inc. stock this week in his second round of sales since buying Twitter Inc.Mr. Musk sold nearly 22 million Tesla shares over a three-day period ending Dec. 14, according to a regulatory disclosure made public Wednesday.
☆ Tesla Set to Deliver Semi Truck to PepsiCo, Expanding Beyond Passenger Vehicles
  + stars: | 2022-12-01 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Tesla Inc. is poised to deliver its first all-electric semitrailer truck Thursday, marking the company’s long-delayed expansion beyond the passenger vehicle market. Food and beverage maker PepsiCo Inc. is expected to take delivery of the Semi, five years after Elon Musk revealed the model.
☆ Tesla Delivers Semi Trucks to PepsiCo, Expanding Beyond Passenger Vehicles
  + stars: | 2022-12-01 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Tesla Inc. delivered its first all-electric semitrailer trucks Thursday, marking the company’s long-delayed expansion beyond the passenger vehicle market. Food and beverage maker PepsiCo Inc. took delivery of the Semis, five years after Elon Musk revealed the model.
☆ Elon Musk’s Twitter Politics Add to Pressure on Tesla’s Brand Image
  + stars: | 2022-11-29 | by ( Patrick Coffee | Rebecca Elliott | ) www.wsj.com   time to read: +6 min
Self-identifying Democrats in particular have soured on the car maker since Mr. Musk bought Twitter for $44 billion in late October, according to data from research firm Morning Consult. Mr. Musk, who plays a large role in the public image of Tesla and now Twitter, on Nov. 7 urged voters to back Republicans in the midterm elections. Net favorability is the percentage of respondents with positive perceptions of a brand minus the percentage with negative perceptions. Tesla also has millions of active supporters online, as does Mr. Musk. More than 94% of U.S. adults are now familiar with Mr. Musk, up from about 75% one year ago, according to Mr. Marlatt of Morning Consult.
☆ Tesla Board’s View That Elon Musk Is Irreplaceable Emerged in Pay Trial
  + stars: | 2022-11-19 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
A weeklong trial in Delaware focused on Elon Musk’s compensation package and the deal that led to it. WILMINGTON, Del.—The scale of concern among Tesla Inc. board members about how to keep Elon Musk‘s attention trained on the electric-vehicle maker loomed large during a weeklong trial over the chief executive’s pay package. A desire to motivate Mr. Musk to focus on Tesla triggered a monthslong pay negotiation that culminated in the shareholders’ approval of a 2018 CEO equity grant valued at roughly $48 billion at recent stock prices.
☆ Elon Musk’s Tesla Compensation Trial Turns to Financial Experts in Closing Days
  + stars: | 2022-11-17 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
A five-day trial over Elon Musk’s multibillion-dollar pay package at Tesla is entering its closing days. WILMINGTON, Del.—The trial over Elon Musk‘s multibillion-dollar pay package at Tesla Inc. enters its closing days with outside financial experts poised to take the stand. Richard Tornetta, a Tesla shareholder, is seeking to nullify Mr. Musk’s 2018 pay package, alleging that the CEO controlled the board’s consideration of his grant and that the board failed to disclose crucial information to shareholders, who signed off on it.
☆ Elon Musk Was an Unlikely Flight Risk at Tesla When Pay Package Came Together, His Brother Said
  + stars: | 2022-11-17 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
The question of whether Mr. Musk was likely to walk away from Tesla when the board signed off on his pay package has been a theme through the week’s testimony. WILMINGTON, Del.—Elon Musk was unlikely to walk away from his role as chief executive of Tesla Inc. in 2018, around the time shareholders signed off on a new, multibillion-dollar pay package for him, the CEO’s brother said. Kimbal Musk ‘s comments came in 2021 deposition testimony that was played Thursday in a trial over Elon Musk’s latest pay deal at Tesla. The question of whether Mr. Musk was a flight risk when the board signed off on the grant has been a theme throughout the week’s testimony.
☆ Elon Musk to Take Stand in Trial Over His Tesla Compensation Package
  + stars: | 2022-11-16 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
WILMINGTON, Del.—Elon Musk is slated to take the stand Wednesday in a shareholder lawsuit over his multibillion-dollar compensation package at Tesla Inc. The trial that kicked off Monday in Delaware’s business-law court has focused on whether Mr. Musk, Tesla’s chief executive, had undue influence over a 2018 pay package that is worth around $52 billion at recent share prices.
☆ Elon Musk Says He Expects to Name a Twitter CEO as He Testifies Over His Tesla Pay Deal
  + stars: | 2022-11-16 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
WILMINGTON, Del.—Elon Musk said he expects to name someone else to run Twitter Inc. and gradually scale back how much time he spends managing the platform he acquired late last month for $44 billion. Mr. Musk, who also runs Tesla Inc. and rocket company SpaceX, said he has been spending the lion’s share of his time on Twitter recently. “I expect to reduce my time at Twitter and find somebody else to run Twitter over time,” Mr. Musk said while testifying in Delaware in a trial over his Tesla compensation package.
☆ Elon Musk Says He Expects to Name a Twitter Boss as He Testifies Over His Tesla Pay Deal
  + stars: | 2022-11-16 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
WILMINGTON, Del.—Elon Musk said he expects to name someone else to run Twitter Inc. and gradually scale back how much time he spends managing the platform he acquired late last month for $44 billion. Mr. Musk, who also runs Tesla Inc. and rocket company SpaceX, said he has been spending the lion’s share of his time on Twitter recently. “I expect to reduce my time at Twitter and find somebody else to run Twitter over time,” Mr. Musk said while testifying in Delaware in a trial over his Tesla compensation package.
☆ Elon Musk Testifies in Court Over His Multibillion-Dollar Tesla Pay Deal
  + stars: | 2022-11-16 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
WILMINGTON, Del.—Elon Musk said the targets in his multibillion-dollar Tesla Inc. pay package were “extremely unlikely” when initially contemplated, as he defended the grant on the stand Wednesday. The trial that kicked off Monday in Delaware’s business-law court has focused on whether Mr. Musk, Tesla ‘s chief executive, had undue influence over a 2018 pay package that is worth around $52 billion at recent share prices.
☆ Tesla Chair Testifies in Elon Musk’s Compensation Trial in Delaware
  + stars: | 2022-11-15 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
In this courtroom sketch from Monday, venture capitalist Ira Ehrenpreis was cross-examined in Elon Musk’s compensation trial. WILMINGTON, Del.— Tesla Inc. Chair Robyn Denholm kicked off testimony Tuesday in the second day of a trial over Elon Musk‘s multibillion-dollar pay package at the electric-vehicle maker. A Tesla shareholder, Richard Tornetta, is seeking to nullify Mr. Musk’s 2018 compensation grant, alleging that Mr. Musk controlled the board’s consideration of his pay package and failed to disclose crucial information to shareholders who signed off on it—such as how achievable the company viewed certain milestones to be. The package is worth around $51 billion at recent share prices.
☆ Elon Musk’s Tesla Compensation Trial in Delaware Court Set to Kick Off
  + stars: | 2022-11-14 | by ( Rebecca Elliott | ) www.wsj.com   time to read: 1 min
Elon Musk doesn’t accept a salary from Tesla, instead being compensated in stock options that vest based on Tesla’s valuation and achievement of other milestones. The trial over Elon Musk‘s multibillion-dollar pay package at Tesla Inc. is due to kick off Monday morning in Delaware’s business-law court. A Tesla shareholder, Richard Tornetta , is seeking to nullify Mr. Musk’s 2018 compensation grant, valued at around $52 billion at recent share prices. The plaintiff is alleging that the board at the time failed to disclose crucial information about the package to shareholders, who signed off on it.
☆ Elon Musk’s Influence Over Tesla’s Board in Focus as Tesla Compensation Trial Kicks Off
  + stars: | 2022-11-14 | by ( Rebecca Elliott | Meghan Bobrowsky | ) www.wsj.com   time to read: 1 min
WILMINGTON, Del.—Opening-day testimony in the trial over Elon Musk‘s multibillion-dollar pay package at Tesla Inc. centered on the CEO’s role in determining his own compensation. A Tesla shareholder, Richard Tornetta , is seeking to nullify Mr. Musk’s 2018 compensation grant, alleging that Mr. Musk controlled the board’s consideration of his pay package and failed to disclose crucial information to shareholders, who signed off on it. The package is worth around $51 billion at recent share prices.
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