TSLA Sep 2024 255.000 put
- Yahoo Finance Video
Tesla shareholders vote on Musk's pay: Market Domination Overtime
On today's edition of Market Domination Overtime, Yahoo Finance's Julie Hyman and Josh Lipton break down the market close and the trading day's biggest stories. The S&P 500 (^GSPC) and the Nasdaq Composite (^IXIC) closed at record highs while the Dow Jones Industrial Average (^DJI) fell into the red. This comes off the back of the Federal Reserve leaving interest rates unchanged as inflation cools. BNP Paribas Managing Director and Senior Multi-Asset Specialist Mark Howard explains that while the Fed's decision was noteworthy, May's Consumer Price Index (CPI) "was the real mover" of markets. The report triggered a rally in tech stocks and relieved Treasury yields. Oracle (ORCL) stock closed at an all-time high, boosted by its partnership announcement with Alphabet's Google (GOOG, GOOGL) and OpenAI. Broadcom (AVGO) is also on the rise after reporting second quarter results that topped Wall Street estimates on both the top and bottom lines. The company also announced a 10-for-1 stock split and a quarterly dividend of $5.25 per share. As Tesla (TSLA) shareholders are currently voting on CEO Elon Musk's pay package valued at $46 billion, the California Public Employees' Retirement System (CalPers) — which holds 9.2 million Tesla shares — disclosed it will vote against Musk's compensation package. Yahoo Finance Legal Reporter Alexis Keenan explains what Tesla shareholders have to gain from approving the pay package and the reasons why shareholders would vote it down. Yahoo Finance shared a poll at the start of the trading week, asking whether Tesla shareholders should approve Musk's pay package. Well over 400,000 respondents have participated in the poll, 96% of which voted "No." This post was written by Melanie Riehl
- Yahoo Finance Video
Tesla stock will fall if Musk pay deal is not approved: Analyst
Tesla (TSLA) shareholders are set to vote on CEO Elon Musk's controversial pay package. With uncertainty looming over the vote's outcome, Guggenheim Securities Automotive Equity Research Director Ronald Jewsikow joins the Morning Brief to discuss how the results could affect Tesla's stock price and operations. Jewsikow believes shareholders will vote in favor of the pay package, saying "It's a mix of promises made and promises kept." However, he outlines a "a small win, big loss" scenario. If shareholders were to approve the package, he believes there would be minimal upside reaction in the stock. On the other hand, if shareholders were to vote against the package, Tesla stock could plummet. Jewsikow predicts Tesla's share price could fall nearly $45 if the vote is not approved. "I think there is a considerable amount of premium for Elon Musk being engaged and developing AI in Tesla currently, just based on where we think the fundamental value of the business is," Jewsikow tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
- Yahoo Finance Video
Elon Musk's $46B Tesla pay package: Explained
Tesla CEO Elon Musk (TSLA) faces a vote from shareholders for a proposed pay package that is currently valued at around $46 billion. A Delaware judge voided a previous pay deal shareholders voted to approve in 2018. Yahoo Finance Alexis Keenan joins Morning Brief to break down the situation with Elon Musk's potential pay package. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino
