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Tesla's annual shareholder meeting: Morning Brief

Tuesday, June 11, 2019

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WHAT TO WATCH

Embattled electric carmaker Tesla (TSLA) is expected to hold its annual shareholder meeting, where CEO Elon Musk is expected to lay out the challenges facing his company. The Mountain View, California-based automaker will webcast the meeting, scheduled to begin at 5:30 p.m. ET, to discuss what has been a rough year for Tesla.

Meanwhile, family-arcade chain Dave & Buster’s (PLAY) will be reporting quarterly earnings after the market close.

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TOP NEWS

Record UK employment holds up in face of shrinking economy: Britain’s jobs boom is holding up despite growing fears for the UK economy, with figures showing employment at new record highs. The number of people in work in the UK increased by 32,000 to another record-breaking peak of 32.75m in the three months to April. [Yahoo Finance UK]

Slack expects revenue to grow up to 50% in fiscal 2020: Slack, poised for a direct public listing later this month, reported double-digit increases in sales during its fiscal first quarter and a steepening operating loss. [Yahoo Finance]

3 surprising turns in the Trump economy­: Since January, the Trump economy has earned a steady B in the Yahoo Finance Trumponomics Report Card. But there have been some notable changes in the underlying components of the Trump economy. Two are negative and one is positive, indicating possible trouble for President Donald Trump’s 2020 re-election bid if these trends continue. [Yahoo Finance]

Congress will look at whether Google and Facebook are 'crushing' the news: On Tuesday, the House Judiciary committee’s antitrust panel will hold the first hearing of its bipartisan investigation into big tech — on the relationship between big tech and a free and diverse press. [Yahoo Finance]

Also: Why big tech is the new Wall Street, Washington's whipping boy [Yahoo Finance]

Alibaba to pick CICC, Credit Suisse to lead Hong Kong IPO: Chinese internet giant Alibaba Group Holding Ltd. (BABA) has picked China International Capital Corp. and Credit Suisse Group AG to lead a planned Hong Kong share sale, people familiar with the matter said. Alibaba plans to file a formal listing application with the Hong Kong stock exchange as soon as the next few weeks. [Bloomberg]

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