The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
Investors bought bank stocks because there's a chance the Federal Reserve's interest rate cut may "put an end to this artificially inverted yield curve," Jim Cramer says.Mad Money with Jim Cramerread more
AT&T is considering selling DirecTV, according to a report in the Wall Street Journal.Technologyread more
The Facebook CEO will talk to policymakers "about future internet regulation," according to a spokesperson.Technologyread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
Disney CEO Bob Iger writes in his autobiography that he believes he would have discussed combining Disney with Apple had Steve Jobs lived.Technologyread more
Tesla sales in China should hit around 6,400 vehicles this quarter, but the Shanghai factory won't be able to manufacture Model 3s in volume until mid-2020, according to JL...Technologyread more
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
Microsoft shares rose 1% after hours as it announced plans to raise its dividend and authorized as much as $40 billion to buy back shares.Technologyread more
Baron, speaking Tuesday on CNBC's "Squawk Box," cited Tesla's ongoing expansion in China; revenue growth; and advancements in all-electric vehicle technologies as reasons for his unwavering support.
"Tesla has an opportunity," he said, adding several automakers — specifically German competitors — are now attempting to play catch-up with Tesla on its advanced technology.
Baron, CEO and chief investment officer of Baron Capital, also mentioned the cost of batteries for all-electric vehicles lowering by tens of thousands of dollars as a positive for the company.
Tesla stock remained relatively unchanged Tuesday morning after opening at $227.62 a share.
Baron Capital owns more than 1.6 million shares of Tesla valued at $358 million. Tesla is currently Baron's 13th largest holding, down from eighth late last year. Baron said the decline was due to value depreciation, not the firm selling shares.
"We haven't sold any stock," he said, citing Tesla previously being valued at more than $300 per share prior to "some self-inflicted wounds."
Baron did not specify what those "self-inflicted wounds" were, however it has been a chaotic year for the company following Musk tweeting about having "funding secured" to take the company private at $420 a share in August 2018.
That infamous tweet eventually led to a September settlement agreement with the Securities and Exchange Commission that removed Musk from his chairman role at the company.
Baron made headlines last year by saying Tesla could generate $1 trillion in revenue by 2030. Tesla's revenue was $21.5 billion in 2018, up from $11.8 billion a year earlier.
Baron Capital's largest investments by market value are CoStar Group, Vail Resorts and IDEXX Laboratories. Each are valued at more than $1 billion.