Here’s what you should know to start your day:
The Future of Tesla
Yesterday, Tesla ($TSLA) announced their fourth quarter earnings, which showed a much bigger net loss than anyone expected and stronger revenue. Due to their less-than-stellar numbers, the company’s stock is down 4.53% as of this writing. At the same time, however, the company revealed plans to start production of their Model 3 car by July. They also plan to add more gigafactories for the creation of batteries, while doubling their Supercharger network this year. Superchargers allow Tesla owners to recharge their cars for free or a fee, depending on when you purchased your model. More Superchargers will not only make it easier for Tesla drivers to get around the country, but it will further incentivize others to buy a Tesla, too.
That’s how much The Limited was sold for at an auction. Private equity company Sycamore Partners, which owns companies from Talbots to Hot Topic, was the highest bidder for the children’s clothing company. The Limited no longer has any open physical stores, and their online storefront is closed. Perhaps Sycamore plans on changing that.
That’s how much less Verizon will pay for Yahoo when they acquire the troubled web property. Verizon’s original bid was for $4.83 billion. Yahoo, however, keeps suffering data breach after data breach, which will cost the company (and eventually Verizon) millions to deal with. That’s why they were able to negotiate a discount during the acquisition talks. Verizon is expected to take over Yahoo sometime later this year.