*By Carlo Versano*
Shares of Tesla jumped more than 15 percent in the pre-market Monday on news that CEO Elon Musk settled a lawsuit with the SEC over Musk's social media use.
Under the terms of the settlement, Musk will step down as chairman of Tesla ($TSLA) for at least three years but can remain in the chief executive role. He and the company must each pay $20 million in fines. Two independent board members will also be appointed.
Federal regulators sued Musk last week, arguing that his infamous Aug. 7 "funding secured" tweet amounted to securities fraud. The lawsuit was filed after Musk reportedly scuttled a last-minute deal with the agency under which he would resign as chairman and pay a fine but not admit to any wrongdoing. Talks restarted soon after, and by Saturday a new settlement was in place.
The settlement takes care of one major headache for investors, who will now look to the car maker's third-quarter production and delivery numbers, which may be reported as early as Monday. Musk [reportedly] (https://www.cnbc.com/2018/09/30/elon-musk-tells-tesla-to-ignore-distractions-hints-at-profitability.html) emailed employees over the weekend, telling them to "ignore all distractions" and that the company was approaching profitability.
Rich Rosenblum, Co-Founder and President of crypto trading firm GSR, joins Cheddar News' Closing Bell, where he explains why investors are rushing to Ethereum and breaks down the advantages it holds over other digital assets.
One NFL team says it is using data to help it win off the field. The Seattle Seahawks say they want to be a source of inspiration for other organizations that want to reap the rewards of a data-driven culture and aim to show the unlikely role data can play in professional sports operations. Seattle Seahawks Director of Business Strategy and Analytics Paimon Jaberi joins Cheddar News' Closing Bell to discuss.
Disney saw misses on both its top and bottom lines for its fourth quarter. The entertainment giant also fell just short of Wall Street expectations for new Disney+ subscribers. CFRA Research media and entertainment analyst Tuna Amobi joined Cheddar News' Closing Bell to break down what this means for the future of Disney.
With the shortage of shipping containers and truck drivers, the global supply chain is taking a beating just ahead of the holiday season. As retailers gear up to meet higher demand, DHL Express is adding capacity, both in infrastructure and aviation. Greg Hewitt, U.S. CEO at DHL Express, joined Cheddar's Opening Bell to provide some additional details on the ramped-up investments.
A jam-packed Freitag pod with Carlo and Baker: new Covid hotspots, Kyle Rittenhouse trial, Belarus making trouble for Europe, red-hot housing market, and how to manage a PR crisis the right way.
