While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
While Hong Kong leader Carrie Lam painted a bleak picture of the city's economy, she expressed hope that dialogue with protesters could provide "a way out."China Politicsread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
U.S. President Donald Trump and his former White House communications director Anthony Scaramucci have had a public falling out recently.Politicsread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia were mixed on Tuesday, as the People's Bank of China published its new loan prime rates which would result in cheaper borrowing costs for companies.Asia Marketsread more
"Given improvements in efficiency and upcoming expansion plans, Mr. Musk admitted that from today's perspective there is 'some merit' to raising capital," Morgan Stanley analyst Adam Jonas said in a note to investors. Jonas is widely followed on Wall Street as an early authority on both Tesla and electric vehicles.
Morgan Stanley forecasts Tesla will raise $2.5 billion in the third quarter of this year, coming "from strategic sources," Jonas said. The firm has a $240 a share price target on Tesla's stock, as Jonas said "concerns over demand and liquidity" will weigh on the stock.
"We think Tesla is waiting to demonstrate a recovery in demand and cash flow before looking to stabilize its balance sheet," Jonas added.
On the company's conference call with investors, Musk deferred on the company raising capital any time soon.
"I don't think raising capital should be a substitute for making the company operate more effectively," Musk said. "I do think there is some merit to raising capital, but is sort of probably about the wrong timing."
Tesla CFO Zach Kirkhorn also warned shareholders that the company will likely report a loss for its second quarter, as well.
Tesla's stock fell 4.3% in trading to close at $247.63 a share.