Category: Stock Market

The snub comes as Musk has sparred with officials in Alameda County over his plans to resume production at the Tesla plant there, which was stopped because of the coronavirus. Five members of California’s Employment Training Panel voted to reject the proposal and two voted for it, with one member absent, after discussing Musk’s tweets on Tesla’s reopening and media reports of layoffs at SpaceX’s Hawthorne, California headquarters in recent years.

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Trump revealed the newest plans to develop vaccine, but later said the country will make a comeback with or without it. Board Certified Specialist in Preventive Medicine & Public Health Dr. David Katz joins Yahoo Finance’s Seana Smith to discuss.

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Electric vehicle pioneer Tesla Inc (NASDAQ: TSLA) is going all out to make alternative energy vehicles more affordable for consumers.Tesla Working On New Battery The Elon Musk-led company is working on a new battery for its Model 3 vehicles in China that confers two advantages, low cost and long life, Reuters reported Thursday. More details could be come at Tesla's Battery Day, with Musk hinting on the first-quarter earnings call that the event could be held in the third week of May.When asked for a preview of the event, Musk said: "We want to leave the exciting news for that day, but there will be a lot of exciting news to tell. And I think it would be one of the most exciting days in Tesla's history."Competitive With Gasoline Vehicles The new batteries are reportedly made to last for 1 million miles, which would help sell Tesla's EVs at the same price or less than a gasoline vehicle, Reuters said, citing people familiar with the plan."With a global fleet of more than 1 million electric vehicles that are capable of connecting to and sharing power with the grid, Tesla's goal is to achieve the status of a power company, competing with such traditional energy providers as PG&E Corporation (NYSE: PCG) and Tokyo Electric Power," the report said.The report also said the new battery is being developed in partnership with CATL, with a team of academic battery experts recruited by Musk also pitching in their expertise.Tesla shares were down 1% at $795.29 at the time of publication Friday. Related Links:Mike Khouw's Tesla Options Trade: All-Time High A Resistance Level Musk Is 'Dead Right,' Says Cramer On Tesla Reopening California Factory Photo courtesy of Tesla. See more from Benzinga * Tesla Negotiates 5M Loan In China Amid Factory Shutdowns, Shrinking Sales * Tesla Reportedly Halts Production At Chinese Factory, Bringing Global Production To Standstill * 6 Reasons Why Morgan Stanley Says Tesla's Next Gigafactory Location Is Texas(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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On May 15, 1997, Amazon.com, Inc. (NASDAQ: AMZN) held its initial public offering. In the past 23 years, the SPDR S&P 500 ETF Trust (NYSE: SPY) is up 236%, but it's safe to say Amazon IPO investors have done much, much better.Amazon's TransformationJeff Bezos founded Amazon in July of 1994. At the time of its IPO, Amazon was essentially an online bookstore valued at just $438 million.Today, Amazon is one of the largest online retailers in the world. Over the years, Amazon has morphed from an online bookstore to a one-stop shopping destination for pretty much anything under the sun. Not only has amazon expanded its business overseas, it has also aggressively built its AWS cloud services business into the market leader and one of its strongest growth engines in recent years.Amazon had three stock splits in the late 1990s following its IPO, so all the prices mentioned below are on a split-adjusted basis.See Also: Jeff Bezos Shares Amazon's First Job PostingIncredibly, Amazon's IPO shares were priced at just $1.50. Amazon quickly made its all-time low of $1.3125 within months of its initial listing before taking off as the dot com bubble exploded. Amazon reached its dot-com bubble peak of $113 in late 1999.When the bubble burst, Amazon lost roughly 95% of its value, trading down to as low as $5.51 by late 2001. From there, the shares took off again, eclipsing their dot com bubble highs in late 2009 and never looking back.2020 And BeyondAmazon hit the $1,000 mark in 2017 and reached its all-time high of 2,475 just last month.Despite cooling down a bit since then, the popular e-commerce stock has been without a doubt one of the best IPO investments of all time.In fact, $100 worth of Amazon IPO stock in 1997 would be worth more than $1.58 million today.Meanwhile, Bezos has become the richest person in the world, with a net worth of about $145 billion.Looking ahead, analysts expect more upside from Amazon in 2020. The average price target among the 45 analysts covering the stock is $2,700 suggesting 13.8% upside from current levels.See more from Benzinga * Warren Buffett Says There's No Bubble In FANG Stocks, But He's Still Not Buying * Amazon Analysts React To Q1 Earnings: Stock Sell-Off Is Short-Sighted * A Coronavirus Department Store Pair Trade Idea To Mitigate Risk(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Shares of Norwegian Cruise (NCLH) are down 80% year to date, but one analyst says the impact of COVID-19 is priced in, and see the stock “as materially undervalued” if cruises rebound going into 2021.

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With business at a standstill and revenue dry, companies are dipping into cash reserves to cover costs. Few seem to be hurting worse than cruises are.The Cruise RatingsBank of America analysts Andrew Didora and Geoffrey d'Halluin maintained: * A Neutral rating on Carnival Corp (NYSE: CCL) but raised their price target from $10 to $13; * A Neutral rating on Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) with a $13 target; and * An Underperform rating on Royal Caribbean Cruises Ltd (NYSE: RCL) with a $20 target.Carnival: 9 MonthsCarnival recently suggested it requires $1 billion in liquidity per month to cover operating expenditures, customer refunds, debt obligations and other necessities. At this rate, with debt and equity offerings completed in April, Didora's suspect that Carnival can sustain itself through the end of 2020."We believe CCL could be able to reduce its monthly cash burn predominantly given potential delays in ship investments and potential debt maturities holidays, which could extend its liquidity into 2021," they wrote in a note.Norwegian: 18 MonthsNorwegian Cruise Line is paying between $70 million and $110 million each month for debt obligations, opex and capex. The analysts also anticipate about $67 million per month in refund payouts for the rest of the year.The company recently raised $2.4 billion in capital, which bolstered its liquidity position to about $3.8 billion, according to Bank of America estimates. This "is enough to get through at least 4Q21 in a worst case of no future cash sales," they wrote.Royal Caribbean: 11 MonthsAccording to Didora's estimates, Royal Caribbean has about $3.45 billion in liquidity but is burning about $330 million in cash per month. At that rate, the company can last through the first quarter of 2021 with suspended operations."For RCL to extend its liquidity into late 2021 to further de-risk its liquidity profile, we estimate it would need to raise an incremental $1.5-2.0B in capital," the analysts wrote.Price ActionAt time of publication, Royal Caribbean traded down 1.4% around $34.66, Carnival down marginally around $12.20, and Norwegian down 2.1% around $10.53.Related Links:Here's How Much Investing 0 In Carnival Stock Back In 2010 Would Be Worth TodayCruise Line Analyst Jumps Ship On Norwegian Cruise, Royal Caribbean Amid Coronavirus CancellationsLatest Ratings for CCL DateFirmActionFromTo May 2020HSBCUpgradesHoldBuy Apr 2020UBSMaintainsNeutral Apr 2020CFRAMaintainsSell View More Analyst Ratings for CCL View the Latest Analyst Ratings See more from Benzinga * Cruise Line Analyst Jumps Ship On Norwegian Cruise, Royal Caribbean Amid Coronavirus Cancellations(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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We often see insiders buying up shares in companies that perform well over the long term. Unfortunately, there are…

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