As CEO Elon Musk promised investors to bring the company to profitability in 2016, Tesla shares rose. However, investors still have concern with the company's performance as it posted another loss in Q4 2015.
Industry
Investment in US mining, exploration drops 35%
The oil price drop is forcing several mining and exploration companies to reduce costs and investments. As a result, the investment in US mining and exploration fell 35 percent in 2015. Some mining companies have started applying for bankruptcy protection.
Nissan Introduces Armada 2017 Full Size SUV
Nissan has introduced the all new Armada 2017 full size SUV on Wednesday. The second generation flagship SUV completes Nissan’s transformation of its SUV and crossover lineup that started three years ago. The SUV will be available with three trim levels in both two-wheel and four-wheel drive- SV, SL and Platinum.
Online game maker Zynga posts Q4 net loss of $47 million
Zynga posted a net loss of $47 million in the fourth quarter ended December 31, 2015, compared to a net loss of $45 million in the comparable period last year. The company expects to launch new games in 2016.
Aplos Scored $4 Million Funding from San Joaquin Capital
Aplos, software company that build software for churches and nonprofit organizations received a $4 million in Series A funding from San Joaquin Capital. The firm believes that Aplos has untapped market and strong position to grow.
Latest News
Tesla reported loss in the fourth quarter of 2015 on Wednesday. The carmaker said it lost $114 million on an adjusted basis, but its share increased in after hours trading.
ARM Holdings, the chip designer will try its endeavor into automotive industry. The company planned its diversification amidst the slowdown in revenue from smartphone sector and a decline in its stock.
Sysco has initiated a process to acquire US Foods for $3.5 billion in 2013. The effort has been blocked by a federal judge under certain grounds. The debt burdened distribution giant has finally opted to go for IPO on Tuesday. Though size of the IPO hasn’t been mentioned clearly, but the Form S-1 suggests valuation of $100 million which may be revised later on.
SolarCity Corp. has been displaying a tremendous growth during the last couple of years. The largest solar plant provider in the US has disclosed fourth quarter earnings during late hours on Tuesday. The earning scenario has disheartened the investors and its share prices have been decreased by 33.59% in the after hour trading on Tuesday.
German auto giant Daimler is recalling 840,000 vehicles in the US after the Takata's airbag inflators issue came into light. The recall costs and repairing expenses will result in cash outflow of €340 million ($383 million) for Daimler. It's estimated that so far 14 automobile firms recalled about 24 million vehicles in the US.
Some states in Australia already legalized medicinal marijuana regionally, but the new bill will allow marijuana to be cultivated and consumed for medical purposes across the country. The bill is highly likely to become a law because it has received huge supports from the authorities and citizens.
Danish brewer Carlsberg A/S is hoping for higher earnings supported by Asian markets. Though eased marginally, the fourth quarter earnings were above analysts' forecasts. The world's fourth biggest brewer Carlsberg is slashing jobs and closing down breweries.
After launching the public beta version in December, owners of Sonos system will now be able to enjoy Apple music service. The features will be available starting Wednesday morning.
Months after rebranding Xbox Music and relaunched it by the name Groove, Microsoft acquired a music player app that goes by the same name. The Montreal-based startup agreed to sell the name and technology to Microsoft, but the details are disclosed by both companies.
