*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 $20 million in fines. Two independent board members will also be appointed.
Federal regulators sued Musk last week, arguing that his infamous Aug. 7 "funding secured" tweet amounted to securities fraud. The lawsuit was filed after Musk reportedly scuttled a last-minute deal with the agency under which he would resign as chairman and pay a fine but not admit to any wrongdoing. Talks restarted soon after, and by Saturday a new settlement was in place.
The settlement takes care of one major headache for investors, who will now look to the car maker's third-quarter production and delivery numbers, which may be reported as early as Monday. Musk [reportedly] (https://www.cnbc.com/2018/09/30/elon-musk-tells-tesla-to-ignore-distractions-hints-at-profitability.html) emailed employees over the weekend, telling them to "ignore all distractions" and that the company was approaching profitability.
Luminar Technologies ($LAZR) has completed its merger with a special purpose acquisition company (SPAC), bringing the company public on the Nasdaq on Thursday.
Dell is in the right business for 2020, Sam Burd, president of the company's PC hardware and software business, told Cheddar.
Warner Bros. Pictures announced that all of its 2021 film slate — including a new “Matrix” movie, “Godzilla vs. Kong” and the Lin-Manuel Miranda adaptation “In the Heights” — will stream on HBO Max at the same time they play in theaters.
Anabal Maldonado, CEO of the psychology-based fashion shopping platform PSYKHE, joined Cheddar to talk about its learning algorithm's work in matching customers to their clothing preferences.
Saoud Khalifah, co-founder and CEO of Fakespot, spoke to Cheddar about helping consumers protect themselves from e-commerce scams during the holiday season.
Discovery is joining the increasingly crowded streaming fray with its own reality-focused service Discovery Plus that will include shows from the Food Network, HGTV, TLC.
Feed your mind with hundreds of audio courses led by well-known names like Alexis Ohanian and Scott Kelly.
Peter Rawlinson, CEO of electric vehicle maker Lucid Motors, joined Cheddar to discuss its new plant in Arizona and hopes for a more supportive policy on EVs from the incoming Biden administration.
Business software pioneer Salesforce.com is buying work chatting service Slack for $27.7 billion in a deal aimed at giving the two companies a better shot at competing against one of the industry’s longtime powerhouses.
Under-$50 Gadgets for Anyone on Your Shopping List
