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Blue Chip

Tesla stock is back to killin’ it

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Tesla was down… aaannnndddd then it was back up. The deal between Elon Musk and the SEC left investors delighted, and the stock recovered all of its 17% loss from Friday. Not too shabby for a deal that required Musk to step down as chairman and pay a $20 million fine.

 

The deal also cost Tesla… another $20 million, separate of the initial fine, to settle claims that the company failed to adequately police Musk’s tweet. If you recall, all of this mess came from Musk’s “false and misleading statements” to investors over Twitter.

 

But Tesla isn’t done yet… because the company is preparing to release its third-quarter production numbers. These productions numbers will allow us to see if Tesla can produce 5,000 Model 3 cars in a week, a milestone the company hit in the second quarter. And now we get to see if the company can replicate those results. Never a dull day for Elon Musk or Tesla..

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Miscellaneous

This airline company has been TOO cheap

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Ryanair has hit turbulence… and the company just slashed its profit forecast for its fiscal year to between $1.39 billion and $1.27 billion. These figures fall about $174 million short of what the company had initially anticipated. The reason? Two things: employee strikes and flight cancellations. Both these factors have led to reduced bookings and lower fare prices.

 

Fuel costs haven’t helped… and shares dropped 10% and are down more than 22% on the year. However, the problem may not be with Ryanair, but rather the business model of low-cost airlines in general.

 

Here’s the problem… it includes labor disputes, decreasing profit margins, and rising customer dissatisfaction. These issues have continued to plague Ryanair and other low-cost airlines for quite some time. Even Ryanair rival, EasyJet, has reported similar problems and gave a meek profit outlook.

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Miscellaneous

The REAL winner in the sale of 21st Century Fox

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And the winner is… Rupert Murdoch, the executive chairman of Fox, who made $49.2 million over the latest fiscal year. That multi-million dollar figure gives Murdoch an addition $20 million compared to last year.

 

Oh, and as for his children… both of them made about $50 million each (they’re adults now, okay?). It is probably worth noting the sudden influx of cash for the entire Murdoch family has come in the form of “stock awards.” And a government filing with the SEC makes it clear that these awards were related to Disney’s purchase of the company.

 

I know they’re rich… but it’s still well-deserved given that Fox’s stock price jumped 75% in the 2018 fiscal year. And the Murdoch’s didn’t sell everything – the “new” Fox will still retain Fox News, Fox Business Network, Fox Broadcasting, and the FS1 and FS2 cable networks.

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Fang

The new face of Instagram is here…

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Introducing IGs new fearless leader… it is Adam Mosseri, and he will head Instagram effective immediately. The switch coming directly after Kevin Systrom and Mike Krieger, the app’s founders, announced that they were leaving the company.

 

A little about Mosseri… he joined Facebook in 2008 and held various roles at the company. Mosseri has been the head of News Feed and design director of Facebook’s mobile apps. Now, Mosseri will need to hire a new team, including a leader of engineering, product, and operations.

 

As for the old leaders… meaning Systrom and Krieger, their plans are up in the air. Also, the sudden move remains a mystery. Both founders stayed at the helm of their company for six-years following being acquired by Facebook. We’ll see if more details come to light in the coming days – but for now, let’s welcome Adam Mosseri, who is now responsible for your beloved Instagram….

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