*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.
Alex Garfield re-enters esports, Cloud9 pulls off a miracle, Rocket League executes a win, and Z-Event raises 1 million euros. Featuring ESL SVP Brand Partnerships Paul Brewer, VP Pro Gaming Michal "Carmac" Blicharz, and Former MLB Professional Pitcher Jim Hoey V of Logitech G
Amazon is stepping up its game in the fight against Apple Pay, by migrating its own digital wallet off the web and into the real world. The e-commerce giant is recruiting brick-and-mortar merchants to accept its digital wallet, Amazon Pay, putting it in direct competition with a host of other companies vying for dominance in the burgeoning digital wallet industry
Toronto Esports drops out of Overwatch Contenders, PUBG releases for PS4, and a review of the disastrous Esports Awards. Featuring MLG Co-Founder Mike Sepso, 1HP's Cait McGee, DPT PT, Logitech Head of Esports Brent Barry
As our world becomes increasingly digital, companies are increasingly turning to the "internet of things" to inform their business practices. One such company is cellphone-service provider Sprint, which recently announced a "Curiosity IoT" platform ー a network designed to turn sensor data into "actionable intelligence," according to the chief of products and solutions at the IoT division, Ricky Singh.
The Butterball Turkey Talk-Line has been answering the questions of stressed-out Thanksgiving hosts for decades, but this year it is turning to Amazon Alexa to modernize how it helps with turkey prep.
These are the headlines you Need 2 Know for Wednesday, Nov. 21, 2018.
Amazon is reportedly looking to expand its foothold in live programming, with an eye on the 22 regional sports networks that Disney must spin off as part of its acquisition of 21st Century Fox. For Amazon, it would be the extension of a grand strategy that has been both simple and consistent: drive more Prime subscriptions.
The U.S. stock market plunged on Tuesday ahead of the Thanksgiving holiday, mostly fueled by investors abandoning tech stocks. Following disappointing earnings, declines in Target and select retailers pulled the retail sector and the markets lower still.
It was another rough morning for the markets as the tech sector continued to drag down the major indexes. Retailers such as Target, Kohl's, and Lowe's were also trading lower after reporting disappointing quarterly earnings results. Plus, Cheddar sits down with actress Michelle Rodriguez and director Robert Rodriguez to hear about their new VR film 'The Limit,' now available across all VR headsets.
There's a civil war underway in cryptocurrency ー and it's shaking investor confidence in the very foundation of the blockchain.
