Elon Musk's apology to analysts he scorned sends Tesla stock soaring

Tesla Model 3 configurator

Tesla CEO Elon Musk stated on Twitter that the company will add a number of classic Atari games to the software in its electric cars.

Tesla has released its second-quarter earnings for 2018, revealing a US$717.5 million ($969 million) loss, but there's a bit to suggest things are looking up in Silicon Valley.

But Tesla shares actually rose by about 4 percent on speculation it will turn profitable before the year's end.

Sen. Johnson: Shutdown Threat Not 'Helpful'
The Senate remains in session and is set to go on break the week of August 6 before returning for the rest of the month. Also, in February, Trump said that he'd "love to see a shutdown" if the government did not focus on immigration .

Tesla stock soared in after-hours trading, climbing briefly to a full 11 percent gain before relaxing to a bit over 9 percent, at $329, up from $300.84 at the close of regular trading hours. Some analysts have questioned whether Tesla can maintain a higher rate of production after rushing to meet an internal target to build 5,000 Model 3s per week by the end of June.

The second quarter was significant for Tesla in a few key ways. In Q2, the company delivered 18,449 Model 3 vehicles, up from 8,182 last quarter. On an adjusted basis, Tesla lost $3.06 per share, missing the consensus estimate of $2.92. Musk also took time durin. It had ended the first quarter with $3.2 billion in cash after spending $656 million in capital expenses.

Tesla said Wednesday that its lone car-making factory in Fremont, Calif., had made 5,000 Model 3 sedans a week multiple times during July and should be able to continue at that rate through the third quarter. The company has had to ramp up production of its lower-cost Model 3 auto, even constructing a tent in the parking lot to hit its target of manufacturing 5,000 of the vehicles per week by the end of the quarter.

Disappointment for relatives as long-awaited investigation into MH370 proves inconclusive
The 449-page report concludes that the plane's sudden turns were not likely the result of a system failure, Bloomberg reports. The "command of the English language" between Kuala Lumpar and Ho Chi Minh airports "needs improvement", the document added.

Bloomberg News reported earlier Wednesday that the company would look to China to at least partially fund the US$5 billion cost, citing a person familiar with the plans, who asked not to be identified as the matter is private.

Tesla said demand for the Model 3 remained strong. On Wednesday's call, Mr Musk apologized to Mr Sacconaghi for being "impolite" before and blamed insufficient sleep. Analysts polled by FactSet expected a $US2.88 loss per share.

Einhorn also said that he was pleased his Tesla lease had ended and that he was excited to get the I-Pace, which is Jaguar's first electric SUV and powers Waymo's fleet of self-driving taxis. Analysts were projecting Tesla would go through about US$900 million during the period, after burning more than US$1 billion in three of the previous four quarters.

Facebook stock drops 20% wiping away a record $120 billion
The fall came after it shocked the market with a warning that both growth and profitability are set to slow. On Thursday, Amazon said it earned $5.07 per share, more than double analysts' estimate of $2.50.

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