*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.
Connecticut Attorney General William Tong joined Cheddar to discuss the multi-state antitrust lawsuit against the social media giant Facebook even as the FTC filed its own legal action.
Commercial flights with Boeing 737 Max jetliners have resumed for the first time since they were grounded worldwide following two deadly accidents nearly two years ago.
DoorDash shares soared 78% as the meal delivery service made its debut Wednesday on the New York Stock Exchange.
These seven surprises are guaranteed to top a gadget lover's holiday wish list.
Tesla says Tuesday it wants to raise up to $5 billion in capital through a stock offering. The move came the same day that CEO Elon Musk said he has moved from California to Texas.
A federal judge has blocked President Donald Trump’s attempts to ban TikTok, the latest legal defeat for the administration as it tries to wrest the popular app from its Chinese owners.
Lisa Callahan, vice president and general manager of commercial civil space at Lockheed Martin, discussed partnering with Blue Origin for a moon mission and the potential for going even further...all the way to Mars.
The 6,400-pound shipment includes Christmas treats and presents for the seven station residents. NASA isn't divulging any of the gifts, but roasted turkey and cranberry sauce are on the way.
The more you donate to charity, the more entries you get, and the better your odds are at winning a gaming bundle valued over $5,000.
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