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☆ Dirk Nowitzki: On eve of Hall of Fame induction, NBA legend says his daughter is ‘mostly embarrassed’ about ‘hoopla’ surrounding her dad
▼ + stars: | 2023-08-09 | by ( Ben Morse | ) edition.cnn.com time to read: +2 min

CNN —On the eve of his Hall of Fame induction, NBA legend Dirk Nowitzki has said that his daughter is “mostly embarrassed” about any “hoopla” surrounding her dad. Alongside the German, two-time NBA champion Pau Gasol, four-time NBA champion Tony Parker, San Antonio Spurs head coach Gregg Popovich, Dwyane Wade and the 1976 U.S. Olympic Women’s basketball team, among others, will be inducted. However, at a press conference on Tuesday, Nowitzki admitted that his impending inauguration has not yet fully resonated with his children. Nowitzki scored 35,223 points across 21 seasons in Dallas, playing 1,667 games for the only NBA team he ever featured for – only John Stockton played more games for one team across his career. His crowning moment arguably came in 2011 when he led the Mavs to the NBA title, the organization’s first and only championship in its history.

Persons: Dirk Nowitzki, Pau, Tony Parker, Gregg Popovich, Dwyane Wade, Nowitzki, “, Papa, they’re, LM Otero, John Stockton, Luka Dončić, Giannis Antetokounmpo, Nikola Jokić Organizations: CNN, of Fame, Dallas Mavericks, basketball’s Hall of Fame, Pau Gasol, San Antonio Spurs, Olympic, YouTube, NBA, American Airlines Center, Mavericks Locations: North Texas, Dallas

☆ Stocks making the biggest moves premarket: Sovos Brands, BioNTech, Tyson Foods and more
▼ + stars: | 2023-08-07 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Tyson Foods — Shares of the food processing company fell more than 7% after Tyson's fiscal third-quarter report missed estimates on the top and bottom lines. Tyson generated 15 cents in adjusted earnings per share on $13.14 billion of revenue. Analysts surveyed by Refinitiv were expecting 26 cents per share on $13.59 billion of revenue. Sovos Brands — Shares of Rao's parent Sovos Brands' popped 25% in premarket trading after food giant Campbell Soup said Monday it would acquire the pasta sauce maker for $2.33 billion. Campbell will pay $23 per share for the company, which is 27.6% higher than the Sovos Brands' last closing price.

Persons: Tyson, Refinitiv, DaVita, Campbell Soup, Campbell, Wells, Warren Buffett's, BioNTech, it's, Nikola —, Viatris, —, Fred Imbert, Samantha Subin, Yun Li, Tanaya Macheel, Jesse Pound Organizations: UBS, Brands, Campbell Soup, Berkshire Hathaway —, KKR —, KKR Locations: Covid

When Nikola Swann heard that Fitch Ratings had removed the United States from its list of risk-free borrowers this week, he felt a sense of satisfaction. More than a decade ago, Swann played a key role in a similar decision: He was Standard & Poor’s primary analyst for its sovereign credit rating on the United States when the agency became the first ever to downgrade the nation’s long-term credit rating amid a debt ceiling standoff in 2011. Bloomberg called the reasons for the downgrade “fundamentally political” in 2011, while others argued that it appropriately reflected a worsening debt crisis. Both a decade ago and this week, partisan politics were cited as one reason for the downgrade. S&P cited “the gulf between the political parties.” Fitch, which made the call two months after the United States narrowly avoided defaulting on its debt, cited “the repeated debt-limit political standoffs and last-minute resolutions.”

Persons: Nikola Swann, Fitch, ”, Swann, ” Fitch Organizations: Treasury Department, Bloomberg, & $ Locations: United States

REUTERS/Jonathan Ernst/File PhotoCompanies Canoo Inc FollowNikola Corp FollowAug 4 (Reuters) - The U.S. Securities and Exchange Commission fined electric vehicle company Canoo Inc $1.5 million on Friday for what the regulator alleges were reporting failures related to hundreds of millions of dollars of unreasonable revenue projections. In the run-up to the deal, Canoo (GOEV.O) had projected revenue of $120 million in 2021 and $250 million in 2022 based on deals to provide engineering services to other companies. In March 2021, the carmaker's stock tumbled 21% after it announced it would not achieve the anticipated revenue, the SEC said in court papers. The SEC said Kranz and Balciunas knew before the merger that the projects were unlikely to generate revenue. Canoo said in May it had tentatively agreed to pay a $1.5 million penalty to settle with the SEC.

Persons: Jonathan Ernst, Canoo, Ulrich Kranz, Paul Balciunas, Kranz, Balciunas, Daniel Wachtell, Nikola, Jody Godoy, Jonathan Oatis, Nick Macfie, Deepa Babington, David Gregorio Our Organizations: U.S . Securities, Exchange, SEC, REUTERS, Nikola, Exchange Commission, DraftKings Inc, Thomson Locations: Washington, Texas, New York

The maker of Tre model electric trucks has decided to make battery electric trucks only to order and focus on hydrogen fuel cell trucks. The company laid off 270 employees in June and liquidated assets of a recently acquired battery maker last month. Nikola forecast third-quarter revenue of $18 million to $28 million, compared with estimates of $34.5 million, according to Visible Alpha. Other electric vehicle (EV) startups also have toiled to ramp up production, meet delivery targets and raise funds as cash reserves dwindled. Separately, Nikola reported a narrower second-quarter loss as lower production of its Tre battery-electric trucks in the April-June period helped keep costs in check.

Persons: Stephen Girsky, Brendan McDermid, Nikola, NKLA.O, Michael Lohscheller, Girsky, Tre, Trevor Milton, Akash Sriram, Abhirup Roy, Will Dunham, Anil D'Silva, Sriraj Kalluvila, David Gregorio Our Organizations: VectolQ, Reuters, of Autonomous Vehicles, REUTERS, U.S, General Motors, Friday's, Nikola, Fisker, Thomson Locations: New York City, U.S, Phoenix, Bengaluru, San Francisco

Nikola's investors on Thursday approved a proposal that will allow the company to issue more shares. The maker of Tre model electric trucks has been trying to pivot to hydrogen fuel cell technology. Nikola forecast third-quarter revenue of $18 million to $28 million, compared with estimates of $34.5 million, according to Visible Alpha. It had cash and cash equivalents of $226.7 million at the end of the second quarter, compared with $441.8 million, a year earlier. The company laid off 270 employees in June and liquidated assets of a recently acquired battery maker last month.

Persons: Stephen Girsky, Brendan McDermid, Nikola, okayed, Michael Lohscheller, Girsky, Tre, Trevor Milton, Akash Sriram, Abhirup Roy, Anil D'Silva, Sriraj Kalluvila, David Gregorio Our Organizations: VectolQ, Reuters, of Autonomous Vehicles, REUTERS, General Motors, Thomson Locations: New York City, U.S, Bengaluru, San Francisco

☆ Nikola CEO Michael Lohscheller Steps Down
▼ + stars: | 2023-08-04 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, nikola

REUTERS/Brendan McDermid/File photoAug 4 (Reuters) - Nikola (NKLA.O) on Friday named its fourth CEO in as many years as the electric truck maker navigates a host of challenges including dwindling cash reserves, lingering supply chain snags and a pivot to hydrogen fuel cell technology. The Tre battery-electric trucks maker forecast third-quarter revenue of $18 million to $28 million, compared with estimates of $34.5 million, according to Visible Alpha. Nikola's investors approved a proposal that will allow the truck maker to issue more shares to raise funds. Milton stepped down as CEO in 2020 after short-seller Hindenburg issued a scathing report that labeled Nikola a "fraud." Separately, Nikola reported a narrower second-quarter loss as lower production of its Tre battery-electric trucks in the April-June period helped keep costs in check.

Persons: Stephen Girsky, Brendan McDermid, Nikola, Michael Lohscheller, Trevor Milton, Milton, Hindenburg, Romeo Power, Akash Sriram, Anil D'Silva Organizations: VectolQ, Reuters, of Autonomous Vehicles, REUTERS, General Motors, EV, Lordstown Motors, Thomson Locations: New York City, U.S, Phoenix , Arizona, Bengaluru

The company now expects to produce between 20,000 and 23,000 vehicles in 2023, down from 32,000 to 36,000 units projected in May. Fisker also raised its annual expenses projection to between $565 million and $640 million from $535 million to $610 million on higher selling, general and administrative costs. Electric-vehicle startups have faced supply chain issues in the past year as industry suppliers prioritize larger EV makers with proven production capacity and demand. Shares of Nikola (NKLA.O) also sank 13% on Friday after it named its fourth CEO in as many years in a bid to navigate a host of challenges including depleting cash reserves, supply chain constraints and a pivot to hydrogen fuel cell technology. Analysts expect the company to record an operating profit in the fourth quarter, according to Refinitiv data.

Persons: Henrik Fisker, Fisker, Raymond James, Akash Sriram, Sriraj Kalluvila, Anil D'Silva, Nick Zieminski Organizations: Fisker, Reuters, Nikola, Magna International, Revenue, Thomson Locations: California, Europe, United States, Austrian, Alaska, U.S, Bengaluru

☆ EV maker Nikola names fourth CEO in as many years
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] Stephen Girsky, Managing Partner for VectolQ, speaks during a Reuters Newsmaker event on the Future of Autonomous Vehicles in New York City, U.S. June 20, 2017. REUTERS/Brendan McDermid/File photoCompanies Nikola Corp FollowAug 4 (Reuters) - Electric truck maker Nikola said on Friday that Michael Lohscheller will step down as chief executive officer less than a year after taking over the job and would be replaced by Stephen Girsky at the end of the month. Girsky, who is currently the company's chairman, will be Nikola's fourth CEO in as many years. Separately, Nikola reported a narrower second-quarter loss as lower production of its Tre battery-electric trucks in the April-June period helped keep costs in check. Reporting by Akash Sriram in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephen Girsky, Brendan McDermid, Nikola, Michael Lohscheller, Lohscheller, Akash Sriram, Anil D'Silva Organizations: VectolQ, Reuters, of Autonomous Vehicles, REUTERS, Nikola, Thomson Locations: New York City, U.S, Phoenix , Arizona, Europe, Bengaluru

☆ EV maker Nikola says CEO Lohscheller to step down
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

VinFast Global CEO Michael Lohscheller looks on during the Vietnamese car company's EV global premiere during the 2021 LA Auto Show in Los Angeles, California, U.S. November, 17, 2021. REUTERS/Mike Blake/File photoCompanies Nikola Corp FollowAug 4 (Reuters) - Electric truck maker Nikola said on Friday that Michael Lohscheller will step down as chief executive officer and would be replaced by Stephen Girsky at the end of the month. Separately, Nikola reported a narrower second-quarter loss as lower production of its Tre battery-electric trucks in the April-June period helped keep costs in check. Lohscheller has decided to step down due to a family health matter and will be returning to Europe, the company said, adding that he would remain in an advisory capacity through the end of September. Reporting by Akash Sriram in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Michael Lohscheller, Mike Blake, Nikola, Stephen Girsky, Lohscheller, Akash Sriram, Anil D'Silva Organizations: VinFast Global, EV, REUTERS, Nikola, Thomson Locations: Los Angeles , California, U.S, Europe, Bengaluru

☆ Stocks making the biggest moves midday: Amazon, Apple, Block, Tupperware and more
▼ + stars: | 2023-08-04 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Apple reported earnings per share for the fiscal third quarter of $1.26, 7 cents more than expected by analysts polled by Refinitiv. The company posted adjusted earnings of $37.62 per share on revenue of $5.46 billion in the second quarter. Fortinet posted 38 cents in adjusted earnings per share, while analysts polled by Refinitiv expected 34 cents per share. Dropbox posted 51 cents in adjusted earnings per share, while analysts surveyed by Refinitiv anticipated 46 cents. The company reported adjusted earnings per share of 18 cents Thursday, topping the 10 cents expected from analysts polled by StreetAccount.

Persons: Tupperware, Carl Icahn's, Hindenburg, Jack Dorsey, Nikola —, Nikola, Fortinet, Refinitiv, Opendoor, DraftKings, Dropbox, Sprout, Raymond James, —, Samantha Subin, Hakyung Kim, Pia Singh, Michelle Fox, Yun Li Organizations: Apple, Refinitiv, Revenue, Holdings, Icahn, Fortinet, Technologies, Refinitiv . Revenue, Tagger Media, Exchange, Citi, StreetAccount, Petrobras —, JPMorgan Locations: U.S, Canada

☆ Stocks making the biggest moves premarket: Block, Tupperware, Nikola and more
▼ + stars: | 2023-08-04 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

AFP PHOTO / JEAN-FRANCOIS MONIER (Photo credit should read JEAN-FRANCOIS MONIER/AFP/Getty Images)Check out the companies making headlines before the bell Friday. The company reported earnings per share for the fiscal third quarter came at $1.26, above the $1.19 expected by analysts polled by Refinitiv. Block — Shares of the payments tech company slid more than 5% in premarket trading even after the firm reported second-quarter earnings and revenue above expectations. The company formerly known as Square reported earnings of 39 cents per share, beating expectations by 3 cents, according to Refinitiv. Amazon reported earnings of 65 cents a share, ahead of the 35 cents expected by analysts, per Refinitiv.

Persons: JEAN, FRANCOIS MONIER, Refinitiv, Nikola —, Nikola, Fortinet, DraftKings, Yun Li, Sarah Min Organizations: Tupperware Brands, AFP, Getty, Apple —, Refinitiv, Revenue, Holdings, Opendoor, Opendoor Technologies, StreetAccount Locations: Joue, France, AFP, Refinitiv, U.S, Canada

☆ Nikola shares sink 26% after messy second quarter, CEO departure and news of a stock sale
▼ + stars: | 2023-08-04 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Shares of electric truck maker Nikola fell more than 26% Friday after a complicated second-quarter report, news of a CEO departure and shareholder approval to issue new stock. Here are the key numbers, compared with Refinitiv consensus estimates:Loss per share: 20 cents vs. 22 cents20 cents vs. 22 cents Revenue: $15.36 million vs. $15.4 millionNikola's net loss for the quarter was $217.8 million, or 31 cents per share. Aside from the discontinued operations, Nikola had no adjustments in the second quarter of 2023. Revenue fell to $15.4 million from $18.1 million in the second quarter of 2022. Meanwhile, it was able to raise $233.2 million in cash during the second quarter via sales of stock and some physical assets.

Persons: Nikola, Michael Lohscheller, Steve Girsky, Lohscheller, Nikola's, Romeo, Romeo Power Organizations: General Motors, Revenue Locations: California

☆ Nikola CEO is leaving the company after just 18 months
▼ + stars: | 2023-08-04 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

New York CNN —The president and chief executive of Nikola, the Arizona-based electric and hydrogen semi truck manufacturer, is leaving the company effective immediately, the company announced Friday. Michael Lohscheller is leaving the company so that he can return to Europe to focus on a family health emergency, the company said. Lohscheller’s predecessor, Mark Russell, also stayed in the CEO role for less than 18 months, meaning Girsky is the company’s fourth CEO in as many years. He became president of Nikola in March 2022, and took over the CEO role in November of last year. During his time as president and CEO, Nikola focused its business more tightly on the US market.

Persons: Nikola, Michael Lohscheller, Stephen Girsky, Mark Russell, Trevor Milton, Milton, Nikola’s, Lohscheller hadn’t, Lohscheller, Loscheller, ” Organizations: New, New York CNN, General Motors, Prosecutors, Volkswagen Group, Volkswagen USA, Nikola, VinFast Locations: New York, Arizona, Europe, Nikola, United States

The squeeze has already claimed its first casualty in electric truck maker Lordstown Motors (RIDEQ.PK), which filed for bankruptcy in June. Companies including Lucid (LCID.O) and Nikola (NKLA.O) are likely to report another quarter of steep cash burn, as they continue to struggle with production and demand. Nikola, which reiterated a going-concern warning in May, is expected to report a 15% decline in revenue and widening losses on Friday. Its shares have rallied nearly 40% this year as the company attempts to reduce its cash burn with layoffs and the liquidation of a recently acquired battery business. But the company missed its production target in the quarter due to a parts shortage.

Persons: Thomas Peter, Tesla, Nikola, Thomas Hayes, Hayes, Needham, Chris Pierce, Akash Sriram, Sayantani Ghosh, Devika Organizations: REUTERS, Ford, Lordstown, Rivian, Visible Alpha, Saudi Arabia's Public Investment Fund, Thomson Locations: Beijing, China, Bengaluru

☆ Nikola gets required shareholder votes for share increase proposal
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Fabian BimmerAug 3 (Reuters) - Electric truck maker Nikola Corp (NKLA.O) said on Thursday it had garnered enough support for a proposal to increase the number of shares it can issue, opening the doors to much-needed capital. To reduce cash burn, Nikola announced layoffs in June and liquidated assets of a recently acquired EV battery maker. But investors have been closely scrutinizing cash reserves at Nikola and other electric-vehicle makers worried about more share disposals to raise funds diluting their stakes. Opposing the vote vocally was Nikola's founder and top shareholder Trevor Milton, who has also called for a change in leadership. Shares of Nikola, which have soared nearly 60% this year to Thursday's close, fell 3.7% in after-hours trading.

Persons: Nikola, Fabian Bimmer, Nikola Corp, Michael Lohscheller, Trevor Milton, Milton, Thursday's, Abhirup Roy, Gerry Doyle, Lisa Shumaker Organizations: IAA Transportation, REUTERS, Nikola, EV, Thomson Locations: Hanover, Germany, San Francisco

☆ Lightning Round: Nikola is a meme stock, says Jim Cramer
▼ + stars: | 2023-08-03 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Nikola is a meme stock, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Ultra Clean Holdings, Nikola, Pioneer, Stanley Black and Decker, Allegro and more.

Persons: Nikola, Jim Cramer, Stanley Black, Decker Organizations: Clean Holdings, Nikola, Pioneer

☆ Nikola wins shareholder approval to issue new stock, paving the way for significant fundraise
▼ + stars: | 2023-08-03 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Electric truck maker Nikola won shareholder approval to issue new stock, the company said late on Thursday. Nikola was forced to adjourn its annual meeting in June, and again in July, after the total votes fell short of the number required to pass the proposal. That proposal also passed, but not until after Nikola adjourned last year's annual meeting three times to drum up more votes. However, that law changed on Aug. 1, and now only a simple majority of shares voted is required to approve an increase in authorized shares. Nikola had originally asked shareholders to approve the proposal ahead of its June 6 annual meeting.

Persons: Nikola, Trevor Milton, Milton Locations: U.S, Canada, Delaware

☆ Cramer's Lightning Round: Stanley Black & Decker is a buy
▼ + stars: | 2023-08-03 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Pioneer's year-to-date stock performance. Stock Chart Icon Stock chart icon Stanley Black & Decker's year-to-date stock performance. Stanley Black & Decker : "...they're doing incredibly well, I can't believe that the stock's back under $100, because I think you [buy, buy, buy]." Stock Chart Icon Stock chart icon Allegro Microsystems' year-to-date stock performance. Stock Chart Icon Stock chart icon TotalEnergies' year-to-date stock performance.

Persons: Nikola, what's, It's, Stanley Black, Decker, TotalEnergies, Jim Cramer's Organizations: Clean Holdings, Linde, Microsystems Locations: PXD

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Home and kitchen product maker Tupperware Brands Corp's stock rose more than 32%, after sky-rocketing by more than 575% over the past seven sessions despite no material changes to the company's health. The original meme stock rallies, most famously, involved retailer GameStop and movie theater chain AMC Entertainment. Market orders from retail traders made up 17.6% of total market flows on July 31, up from a near six-month low of 14.8% on July 20, according to J.P. Morgan data. Roundhill's Meme index (.MEME) had hit a more than one-year high on Monday.

Persons: Brendan McDermid, Tupperware, JJ Kinahan, Kinahan, Nikola Corp, Morgan, Dan Raju, Raju, Medha Singh, Devika Syamnath, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Tupperware Brands Corp, Apollo Global Management, Tupperware, Revlon, Hertz Corp, IG North America, GameStop, AMC Entertainment, Corp, Nikola, Tesla, Thomson Locations: New York City, U.S, Bengaluru, Chibuike, New York

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho

☆ Facebook cofounder slams Elon Musk, calling Tesla and SpaceX 'scams he got away with'
▼ + stars: | 2023-07-28 | by ( Grace Kay | ) www.businessinsider.com time to read: +6 min

Dustin Moskovitz said Elon Musk's successful companies could be seen as "scams he got away with." The Facebook cofounder said Musk sucked up resources from others by overpromising with Tesla. Moskovitz pointed to Musk's promises on autonomous cars, and a report that he exaggerated Tesla ranges. Apparently Mark Zuckerberg isn't the only Facebook founder that's wary of Elon Musk. Spokespeople for Tesla, SpaceX, and Musk also did not respond to a request for comment ahead of publication.

Persons: Dustin Moskovitz, Elon Musk's, Musk, Mark Zuckerberg, that's, Elon Musk, Moskovitz, he's, overpromising, Tesla, Bruce Bennett, —, Elon, BYD, Nikola wasn't, Rivian wasn't, he'll Organizations: Facebook, SpaceX, EV, Reuters, Ford, General Motors, Toyota, Nikola, Elon, Tesla

☆ Vietnam EV maker VinFast plans US listing in August after regulator nod
▼ + stars: | 2023-07-28 | by ( Phuong Nguyen | ) www.reuters.com time to read: +2 min

The EV maker had filed for an initial public offering in the U.S. to list on the Nasdaq in December last year, but in May it announced plans to list through a merger with special purpose acquisition company (SPAC) Black Spade Acquisition Co (BSAQ.A). VinFast and Black Spade aim to complete the merger by August, subject to shareholder approvals and other customary closing conditions, they said in a joint statement on Friday. "The declaration of the SEC effectiveness is a significant step towards the successful completion of the business combination between Black Spade and VinFast," Dennis Tam, Chairman and Co-CEO of Black Spade Acquisition Co said. Black Spade is set to hold an extraordinary shareholder meeting to approve the proposed business combination with VinFast on August 10, the joint statement said. The new merged entity was estimated by VinFast and Black Spade to have a potential equity value of $23 billion, according to their statement.

Persons: Black Spade, Dennis Tam, VinFast's, Nikola Corp, VinFast, Phuong Nguyen, Louise Heavens, Jane Merriman Organizations: Securities and Exchange Commission, Nasdaq, Spade, SEC, Faraday, Nikola, VinFast, Thomson Locations: HANOI, United States, U.S, North Carolina

☆ Celtics and Brown agree to richest deal in NBA history, reports
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

July 25 (Reuters) - Jaylen Brown has agreed to a five-year $304 million supermax contract extension with the Boston Celtics that will make the forward the highest paid player in the NBA, according to multiple media reports on Tuesday. The third overall pick in the 2016 draft Brown averaged a career-high 26.6 points, 6.9 rebounds and 3.5 assists a game last season helping Boston reach the Eastern Conference finals. A twice NBA All-Star Brown will earn $28.5 million next season before his extension begins in 2024 averaging $60.8 million a year. Brown's supermax deal tops two-time Most Valuable Player and reigning Finals MVP Nikola Jokic for the richest contract in NBA history. The distinction of being the NBA's highest paid player may not last long with Brown's Celtics team mate Jayson Tatum poised to assume the title next year when he becomes eligible for a supermax contract.

Persons: Jaylen Brown, Brown, Brown's, Nikola Jokic, Jayson Tatum, Steve Keating, Toby Davis Organizations: Boston Celtics, NBA, Boston, Eastern Conference, Brown's Celtics, Thomson Locations: Toronto

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