*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.
A comment thread under Roku’s ‘Issues & Questions’ section on its site features 28 pages of disgruntled Roku customers.
General Motors' Cadillac brand is the latest to roll out an electric vehicle with the promise of taking sales from market leader Tesla.
Nikola's earnings are down following the company's first earnings report. Founder, Trevor Milton, says the young electric truck company actually exceeded expectations.
New data from online video analytics company Conviva showed overall streaming and connected device viewership was up 63 percent globally during the second quarter of 2020 compared to the same time last year.
Verizon Media launches 'Yahoo Life,' a website dedicated to provided well-being services. CEO Guru Gowrappan talked to Cheddar about helping provide support for Verizon's employees and customers along with society at large.
Microsoft looks to be a leader in environmental sustainability with its new plan to reduce its waste. Lucas Joppa, chief environmental officer at Microsoft, talks about the company's 2030 goal year to achieve zero waste output.
Apple has again split its stock, giving shareholders 4 in 1. Phil Mackintosh, Nasdaq's chief economist, assesses the move and says more companies should adopt the model.
Microsoft looks to acquire TikTok after President Trump said the social media site would be banned. Now, the ban is on hold for at least 45 days.
European Union regulators have opened an in-depth investigation into U.S. tech giant Google’s plan to buy fitness tracking device maker Fitbit.
EVGO closes a deal with GM to open more electric car charging stations across the U.S. The deal comes as GM looks to expand its fleet of electric cars over the next few years.
