Stock Alert: Liberty Oilfield Services Soars 35%
In 2010, Elon Musk had big plans for Tesla. Listen to his predictions
New York (CNN Business)Elon Musk’s net worth is now $115 billion, pushing him past Facebook CEO Mark Zuckerberg on the list of the world’s richest people, according to Bloomberg.
Musk’s increase in wealth was propelled by Tesla’s (TSLA) wild 12% stock gain that happened Monday after Tesla’s 5-1 stock split. This makes the Tesla founder and CEO the third-richest person in the world, according to the Bloomberg Billionaires Index. He is now only poorer than Bill Gates and Jeff Bezos.
The world’s top five billionaires (in order) are: Jeff Bezos, Bill Gates, Elon Musk, Mark Zuckerberg and Bernard Arnault, the CEO of LVMH in France.
Musk is also the founder of several other companies including SpaceX, The Boring Company, Hyperloop and OpenAI.
Tesla’s stock closed 12.5% higher Monday at $498.32 per share, which was still around $1,800 cheaper than where it was trading on Friday.
Stock Alert: Zoom Hits New 52-week High After Quarterly Results
Shares of Zoom Video Communications Inc. (ZM) are surging almost 37 percent or $119.71 in Tuesday’s morning trade at $444.81, after earlier touching a new 52-week high of $447.88 on better-than-expected quarterly results and increased outlook for the full year.
Monday, Zoom said its second-quarter net income attributable to common stockholders surged to $185.7 million or $0.63 per share from $5.5 million or $0.02 per share in the year-ago period. Adjusted earnings were $0.92 per share, compared to $0.08 per share last year. Total revenue jumped 355 percent year-over-year to $663.5 million. Both revenue and adjusted earnings per share beat analysts’ estimates.
For fiscal 2021, Zoom raised its outlook for adjusted earnings to a range of $2.40 to $2.47 per share from the prior range of $1.21 to $1.29 per share, and total revenue to a range of $2.37 billion to $2.39 billion from the prior range of $1.775 billion to $1.800 billion.
On average, analysts polled by Thomson Reuters have a consensus earnings estimate of $1.30 per share for the year on revenues of $1.81 billion.
Zoom has traded in a range of $60.97 to $447.88 in the past 52 weeks.
Tesla to sell $5 billion worth of stock as shares continue to rally
Tesla on Tuesday revealed plans to take advantage of its meteoric stock rise by raising up to $5 billion through a program to sell more shares of the popular electric vehicle company.
Wall Street’s main brokerages, including Goldman Sachs, Bank of America and Morgan Stanley, will serve as sales agents for the stock selling program, which represents less than 1 percent of Tesla’s $464 billion market capitalization.
Tesla shares briefly shot up as much as 3 percent on the news in pre-market trading, before settling down to open the day up 0.6 percent.
“We believe this is the smart move at the right time for Musk & Co.,” Wedbush analyst Dan Ives said in a research note, lauding investors’ strong appetite “to play the transformational EV trend through pure play Tesla over the coming years.”
Tesla’s announcement arrives a day after the company’s 5-for-1 stock split took effect, bringing the price of a share of the electric automaker down to just under $500 from its previous price of $2,500.
Tesla shares have skyrocketed more than 70 percent since it announced its plans for a stock split earlier this month.
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Matthew McConaughey To Voice Starry ‘Hank The Cowdog’ Podcast Written & Directed By Jeff Nichols
Matthew McConaughey has been set to voice the podcast adaptation of John R. Erickson’s Hank The Cowdog children’s books.
From Tri-State Pictures, HTC Productions and QCode, the series is written, directed and executive-produced by Jeff Nichols (Loving) and stars McConaughey – who is also an exec – as Hank. Nichols and the actor collaborated memorably on 2012 film Mud.
Supporting cast includes Jesse Plemons, Cynthia Erivo, Kirsten Dunst, Leslie Jordan, Joel Edgerton, Scoot McNairy and John R. Erickson. The five-episode season will launch on September 14.
Nichols and McConaughey are joined by executive producers Sarah Green and Brian Kavanaugh-Jones of Tri-State Pictures, Mark Erickson of HTC Productions and Rob Herting of QCode.
The family podcast has partnered with The National Ranching Heritage out of Texas on an educational curriculum.
Stock Alert: Peloton Interactive Rises To New 52-week High
Shares of Peloton Interactive, Inc. (PTON) are climbing almost 8 percent or $6.05 in Tuesday’s morning trade at $82.72, after earlier touching a new 52-week high of $83.49.
Tuesday, Peloton, an interactive fitness platform, said it has formed the Peloton Health and Wellness Advisory Council, which includes five renowned doctors, researchers and other medical professionals from the fields of cardiovascular medicine, cardiopulmonary exercise, neurology and neuroscience.
The council will work closely with the company so as to positively impact the physical, mental and emotional well-being of its community of members from around the world.
Peloton has traded in a range of $17.70 to $83.49 in the past 52 weeks.
Stock Alert: Liberty Oilfield Services Soars 35%
Shares of Liberty Oilfield Services Inc. (LBRT) are surging more than 35% Tuesday morning on the news of Schlumberger (SLB) selling its onshore hydraulic fracturing business in the United States and Canada to Liberty for a 37% stake in the new combined company.
Liberty Chairman and Chief Executive Officer Chris Wright stated, “This transaction will be a transformative step forward in our journey as a company. Our expanded technology portfolio and breadth of operations will enable Liberty to further raise our already high bar for safe, innovative, efficient, and ESG-conscious frac operations.”
The transaction is expected to close in the fourth quarter of 2020.
LBRT is currently trading at $8.84. It has traded in the range of $2.17- $12.42 in the past 52 weeks.