*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.
Roku shares dropped during Friday's session after the streaming company reported Q4 revenue on Thursday that missed expectations, and disappointing guidance for the Q1 of 2022. Tuna Amobi, director and senior analyst at CFRA Research, joins Cheddar News' Closing Bell to discuss what it means for investors and the company's future.
Karim Hijazi, CEO of Prevailion, joins Cheddar News' Closing Bell, where he says that crypto's decentralized nature will pose obstacles for the FBI's new crypto unit, but it will also make progress with items such as managing fraudulent exchanges.
In 2021, Americans reported losses from so-called romance scams hit an all-time high of $547 million, or six times the total losses in 2017, according to the FTC.
Google's Android is phasing out sharing data with third-party apps, much like Apple did with its policy. But what does this mean for advertisers and users alike? Cheddar's Michelle Castillo takes a closer look.
Cheddar's Michelle Castillo visits the Beyond Meat Innovation Center in El Segundo, California, to learn more about the process of turning plant proteins into something more like meat.
The crypto lobbying boom kicked off last year, sparked by a broadly-worded provision in the bipartisan infrastructure bill. Cheddar's Alex Vuocolo takes a deeper look.
U.S. auto safety regulators have launched another investigation of Tesla, this time tied to complaints that its cars can stop on roads for no apparent reason.
