*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.
Telehealth company Hims & Hers is making its stock market debut after completing a merger with special purpose acquisition vehicle Oaktree Acquisition Corp.
One of Apple's fan favorites, the camera, battery life and other advanced features help the iPhone 11 Pro hold its own when compared to the newer models on the market.
AppHarvest, the Kentucky based indoor farming startup, shipped out its first batch of tomatoes on the heels of picking a new company president in David Lee, the former Impossible Foods CFO. Lee and CEO Jonathan Webb joined Cheddar to discuss.
General Motors is teaming up with Microsoft to accelerate its rollout of electric, self-driving cars.
The History Hit TV catalogue features an impressive library of history documentaries, interviews, podcasts and more.
Wing, an Alphabet subsidiary, found new opportunities and uses for its drone delivery service amid the COVID-19 pandemic.
David Quinalty of Waymo spoke to Cheddar about the company's hopes that the Biden Administration will continue the bipartisan work with the DOT in promoting autonomous driving technology.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Playtika CFO Craig Abrahams joined Cheddar to discuss the mobile gaming company's public debut on the Nasdaq, likely a start to a steady flow of game devs going public in 2021.
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