In the merger of the equals, Devon Energy and WPX Energy have joined hands to float a single entity valued at $12 billion approximately. The merger will be completed by the first quarter of 2021.
Snap stock remains highly bolstered by the acquisitions that the parent company has been making in the past years.
Elon Musk says that Tesla will be much more valuable in years to come despite short term challenges.
Sources familiar with the matter said that Tesla is eyeing for a 10% stake in LG Energy Solutions, which will have a separate battery division LG Chem very soon. To cut costs, Tesla is keen on working with partners who have pioneered the battery tech, instead of going indigenously.
At the time of writing, as the market opened, Virgin Galactic (SPCE) shares are 19.26% up, trading at $19.60.
According to Elon Musk, within the next seven years, he expects Tesla to produce over 20 million new vehicles per year. As he said, five years would also be enough, but under the conditions given, reaching this figure is “possible, but unlikely.”
HSBC Hong Kong shares rallied as its largest single stakeholder Ping An bought 10.8 million shares, increasing its stake to 8%.
It’s a major victory for Uber since it gets an entry into one of its biggest markets in Europe. Uber has offered assurance that it has brought major structural changes in terms of passenger safety.
Following the news about the progress with COVID-19 vaccine trials, Novavax shares which closed 0.86% higher on Thursday gained more than 7.33% in the pre-market.
Amazon’s latest devices include the all-new Echo, Echo Dot, Echo Dot with Clock, the eero 6 routers, home flying security cameras, the Ring security system for cars, an update to its Fire TV Stick, as well as some other new products.
NKLA stock price dropped yesterday. The fall is largely attributed to the report which claimed that Nikola is “an intricate fraud built on dozens of lies over the course of its founder and executive chairman Trevor Milton’s career.”
Google is reviewing its long-term work options for employees, as most of them say they don’t want to come back to the office full-time.
The latest report from Hindenburg Research accusses Nikola for defrauding investors about the preparedness of its hydrogen-fuel technology. Stock tanks more than 40% in the last three days.
JPMorgan is looking ahead to settle regulatory charges of market manipulation by paying a massive $1 billion in penalty. The DOJ, the SEC, and the CFTC have been conducting an investigation for a long time over the bank involvement in unfair trading practices in the metals market.
Electric car manufacturer Tesla has filed a lawsuit against U.S. President Donald Trump’s administration, aiming to end what it calls “unlawful” tariffs imposed on certain parts imported from China.