Here's Myles Udland with a look ahead at what will be making headlines on Wednesday.Read More »
Tesla (TSLA) shares fell Tuesday following a bearish report saying the maker of all-electric vehicles will continue to lose money on an annual basis through 2019. XAutoplay: On | OffJefferies analyst Philippe Houchois initiated coverage of Tesla with an underperform rating and price target of 280, which is 26% below where the shares currently stand. Tesla shares were down 2%, near 377.10 during morning trading in the stock market today. Tesla shares are up 77% this year. "It is with a bit of a heavy heart that we initiate coverage of Tesla at underperform," Houchois wrote in a note to clients Tuesday, saying that boosting production remains the main challenge for Tesla. "Achievements to-date
Japan's Toshiba Corp has selected a group led by U.S. private equity firm Bain Capital to buy its prized memory chip unit, three people with knowledge of the talks said on Wednesday, the latest dramatic twist to a highly contentious auction. The decision was made by Toshiba's board and will be announced later on Wednesday, two sources said. Toshiba declined comment.
General Electric, is nearing a decision on whether to grant a board seat to Nelson’s Peltz’s Trian Fund Management, a move that signal that the company is contemplating a more radical downsizing of the conglomerate than previously disclosed, FOX Business has learned. The decision by GE’s board of directors could be made in the coming weeks, and possibly before the end of the month, according to people with direct knowledge of the matter. If the GE board agrees to give Trian a seat, it will likely be filled by Ed Garden, the fund’s chief investment officer and founding partner, rather than Peltz, these people add.