On Tuesday, Tesla stock gained 5%. According to Business Insider the S&P 500 Index Committee decided to add Tesla stock to the index all at once on December 21. Tesla's large market valuation is more than $500 billion. The committee had considered either adding Tesla stock to the index in stages, or doing it all at once. The committee's decision to add Tesla stock to its index in one fell swoop will create unprecedented demand for Tesla stock.
Tesla may be the new kid on the block in the auto industry, but it's quickly become a big kid on Wall Street. The electric-car maker's shares continued to climb more than 4% on Tuesday. This increases the company's total market value above $500 billion for the first time. The milestone comes on the heels of a banner year for Tesla's stock, says CNN. Tesla recently upgraded facility now has the capacity to build 500,000 Model Y and Model 3 sedans a year.
Business Insider reports that Airbnb is planning to raise $2.6 billion in its mid-December IPO. The IPO would give Airbnb a valuation of up to $35 billion. The company plans to list about 50 million shares at between $44 and $50 per share, a regulatory filing showed. Airbnb will list on the NASDAQ under the symbol "ABNB." It was previously eyeing a $30 billion valuation, with $3 billion in proceeds.
On Monday, US stocks rose. AstraZeneca said its COVID-19 vaccine candidate demonstrated an average efficacy rate of 70%. This is the third COVID-19 vaccine said to have surpassed the Food and Drug Administration's requirement of 50% effectiveness. S&P 500: 3,580.82, up 0.7% Dow Jones industrial average: 29,473.41, up 0.7% (210 points) Nasdaq composite: 11,929.04, up 0.6%
The Nasdaq closed higher on Wednesday as investors switched back to technology stocks and away from economically sensitive sectors as they weighed COVID-19 vaccine progress against a virus surge and likely timing for a economic rebound. Fred Katayama reports.
The Nasdaq closed lower on Tuesday as investors sold off technology stocks that benefited from virus lockdowns and favored the sectors that suffered most during the pandemic on optimism that a COVID-19 vaccine would turn around the economy. Fred Katayama reports.
U.S. stocks jumped on Thursday, as investors bet Republicans would retain control of the Senate and block any major policy changes under a possible Joe Biden White House that could dampen corporate profits. Fred Katayama reports.
Deforestation in Brazil's Amazon rainforest surged to a 12-year high in 2020, official government data showed on Monday (November 30), with destruction soaring since President Jair Bolsonaro took office and weakened environmental enforcement. Libby Hogan reports.
Cyber Monday is on track to bring in a record of as much as $12.7 billion in online sales, according to latest industry estimates, surpassing Black Friday’s digital numbers. This report produced by Emma Jehle.
On Saturday, Netflix said it would declare more than $1.3 billion in UK revenue. The news is likely to put pressure on other tech giants like Amazon and Google many of which use tax jurisdictions to their favor. Business Insider reports Netflix has about 50 productions based in the UK, including "The Crown" and "The Witcher." Variety reports Netflix is planning to double UK spending.
On Monday Italian regulators hit Apple with a 10 million euro ($12 million) fine. The fine is over claims Apple made about iPhones' water resistance. The regulator said Apple's claims about how deep and long its iPhones could go in water without sustaining damage were only true under laboratory conditions. The regulators also said Apple's warranty failed to help customers whose phones had been water-damaged.
The private procurement and purchase centres for apple in north Indian state, Himachal Pradesh have been seamless and profitable for growers. Centres are not only giving boost to their business but also protecting them against unregistered middlemen. Apple harvesting in Himachal Pradesh's Shimla is growing each year. Good quality fruits and apples continue to steer agriculture in Himachal towards profit.
Miley Cyrus has battled sobriety for years. During a recent appearance on Apple's "New Music Daily with Zane Lowe" Cyrus said she "fell off" the wagon during the pandemic. The singer and actress says she would never want to pretend that she has been sober. "I fell off and I realized that I now am back on sobriety, two weeks sober." The star said she has issues with moderation and said she believes everyone should do what's best for them. Cyrus' latest album, "Plastic Hearts," drops Friday.
Last year Tesla CEO Elon Musk predicted autonomous driving would boost his company's market capitalization to $500 billion. On Monday, Tesla's market cap soared as high as $498 billion even though Tesla is still refining its self-driving software. Business Insider reports that it has only released a beta version to a limited number of customers. Musk made the claim during an investor call in May 2019, when Tesla's market cap was less than $45 billion, CNBC reported.
Four astronauts riding a newly-designed spacecraft from Elon Musk's rocket company, SpaceX, greeted their new crewmates aboard the International Space Station on Tuesday. The successfully docking was a landmark achievement for private space travel. Adam Reed reports.
The Wall Street Journal reported Pfizer cut the number of vaccines it planned to ship in 2020. According to Business Insider, this is due to supply chain delays. Sources say Pfizer sourced materials and set up supply chains while developing a vaccine. This is an "unprecedented" move in the world of medicine and vaccine development. But Pfizer and BioNtech maintain they will produce 1.3 billion doses by the end of 2021.
UPS has told drivers to stop picking up packages from some large retailers during the holiday season. Business Insider reports the move is just temporary. This year is expected to be busier than usual for carries. More retailers are relying on online orders for holiday shopping. UPS has told drivers to stop picking up packages from some large retailers as the holiday shipping season picks up.
On Wednesday, December 2nd, the US coronavirus outbreak set grim new records. 3,100 Americans died, a new high. Business Insider reports number of virus hospitalizations passed 100,000. The US is still the worst-affected country in the world. Officials are issuing dire warnings about the months ahead. President Donald Trump is barely mentioning the virus. He is still fixated on his election loss a full month after voting ended.
The mayor of Austin, Texas, told his constituents on a video call last month to 'stay home' and avoid unnecessary travel. The message was a bid to stem the spread of the novel coronavirus in the city and across Texas, as COVID-19 patients are already overwhelming hospitals. But according to Business Insider, Mayor Steve Adler, a Democrat, neglected to mention where he was when he filmed the public service announcement.
The NY Times reports that Pres. Elect Joe Biden plans to keep Christopher Wray on as FBI Director. A senior Biden official told The Times Biden was "not removing the FBI director unless Trump fired him." Business Insider speculated the move is part of the Biden team's broader effort to restore trust intelligence and justice systems. The institutions which have been in place to protect Americans has become overtly politicized under the Trump administration.
Tesla shares are up after Piper Sandler sets its price target to more than $500 per share. Beyond Meat is down after JPMorgan analysts lowered their rating for the company and experts noted a slowdown..