Shares of Tesla Motors Inc (NASDAQ:TSLA) dropped -0.48% and closed at $233.99 in the last trading session. The last trading range of the stock ranges between $229.81and $237.76.
Stock prices of Tesla Motors Inc (NASDAQ:TSLA) and SolarCity Corp (NASDAQ:SCTY) closed up by 6.1% and 34.1% in trade in New York on Wednesday, December 16. The main reason for such hefty increase in SolarCity’s stock price is an extension of tax credit for renewable energy companies which was announced by Congress on Tuesday. The tax credits were about to end this year, but the spending bill got a green signal from Congress and now provides an extension for another five years. In addition to this, the current 30% tax credit has also been extended until 2019, according to Bidnessetc
Still, the bill requires the approval from the Senate and also from the House which is expected to vote this week. The tax credit is quite helpful for renewable companies as it boosts their profitability. In addition, companies can also benefit by avoiding the risk of oversupply once the extension is granted. Meanwhile, Tesla Motors’ stock price usually mimics the performance of solar stocks on the popular believe that the requirement for electric cars is somehow connected to the outlook of the renewable energy industry.
Mr. Musk is the top stakeholder in both companies. By Wednesday, his stake in SolarCity is at 21.84% or 21.31 million shares with a worth of around $1.14 billion. He bought nearly 200,000 shares of SolarCity on November 16, and had also purchased roughly 307,000 shares of the renewable energy company on November 13. In a day, Mr. Musk’s net worth has increased commendably. According to Bloomberg, his stake of 21.31 million shares in SolarCity observed an increase of roughly $291 million as a result of the surge of $13.64 in SolarCity stock.
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Similarly, the Silicon Valley’s enterpreneur has a stake of about 28.37 million shares in Tesla Motors with a current market value of $6.65 billion. The stock price of the electric-car manufacturing company surged by $13.42 and resulted in increased net worth of roughly $381 million on Wednesday. In total, his net worth increased by around $672 million to $7.79 billion. Bidnessetc Report
Sony Corp (ADR) (NYSE:SNE)
Sony Corp (ADR) (NYSE:SNE) dropped -0.44% and closed at $25.13 in the last trading session. The last trading range of the stock ranges between $25.12 and $25.49. The company’s Market capitalization is $31.20B with the total Outstanding Shares of 1.26B.
It is now revealed that the processing box could be roughly the same size as a Nintendo Wii gaming console, according to postrecorder
Sony put a call out to PlayStation 4 owners and fans to recommend PlayStation 2 games they want to see playable on the PS4. One might argue that PS3 games are available to play on the PS4 as part of the PlayStation Now service, however the criticism remains that Sony has set unjustifiably high prices. Some games work better than others, as some are more forgiving of the inherent latency that comes from gaming in the cloud. Central to this speculation is the suggestion that the Japanese corporation will release a PlayStation 5 that is a pure streaming device.
But tapping into the force, is more than just capitalising on a movie release. Ive always believed that with the sense of convenience and immediacy that people get from streaming, whether its in music or video, that same attraction will be there in games eventually.
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Another report has backed up these AMD rumors, with suggestions appearing in the media that the next generation processors that AMD will offer will be attractive to both Sony and Microsoft owing to their 4K and virtual reality capabilities. I want to expand what were able to do for more customers., he stated. Postrecorder Report
Shares of Estee Lauder Companies Inc (NYSE:EL), ended its last trade with -0.06% loss, and closed at $89.21. The Average Volume of the company is at 2,147,223 shares with the Outstanding Shares of 224.03M. The Earnings per Share of the company stands at $ 3.05.
The Estée Lauder Companies Inc. (EL) declared recently that it has accomplished its investment in Have & Be Co. Ltd., the South Korean company behind skin care brands Dr. Jart+ and Do The Right Thing. Terms of the investment were not revealed.
Launched online in 2005 by ChinWook Lee, Dr. Jart+ is a Seoul-based, global high-growth skin care brand featuring quality and innovative products designed to address specific skin care needs. The brand’s unique fusion of dermatological science and art – as reflected in the brand name, which is inspired by the phrase “Doctor Joins Art” – appeals to a broad range of consumers, especially millennials. Dr. Jart+ is sold in many countries around the world, primarily in Asia and the United States, through various department stores, specialty-multi and e-commerce channels counting Sephora.
The Estée Lauder Companies’ investment also comprises an interest in Do The Right Thing (DTRT), a men’s-focused skin care brand that fuses Korean innovation with a bold New York style. Founded by Mr. Lee in 2012, DTRT’s line of cleansers, lotions, moisturizers and serums are sold in Korea through various channels and in the United States through Sephora and BirchboxMan.
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