Tesla shares gained 19.89% on Monday, or over $129 per share, increasing the automaker's market cap by a whopping $23.33 billion.
Driving the news: Panasonic this morning announced that its joint battery-making venture with Tesla turned profitable in the fourth quarter of 2019, although it did not provide specific numbers. A bank analyst also upgraded Tesla today, while one of the company's largest outside shareholders disclosed a slightly increased stake.
Disney announced Monday that it will release a film version of the Tony-winning musical "Hamilton" featuring the original Broadway cast and filmed onstage at the Richard Rodgers Theatre in New York City.
Why it matters: Obtaining the rights to the movie, set for release Oct. 15, 2021, is a huge coup for Disney — which topped $10 billion in box office sales last year — and allows a stage show that still fetches eye-watering ticket prices to be seen around the world.
Worldline agreed to buy French point-of-sale terminal provider Ingenico for around $8.6 billion in cash and stock.
Why it matters: This is the latest in a wave of payments industry consolidation, particularly among legacy players that feel threatened by a digital-first challengers. Examples from last year include FIS buying Worldpay for $35 billion and Fiserv paying $22 billion for First Data.
There was only $164 billion of announced global mergers and acquisitions in January, the slowest start to a year since 2013, per Refinitiv.
Why it matters: This comes off a 2019 in which volume was down slightly from 2018, but still the fourth-largest dollar volume in history and sixth-straight year above $3 trillion.
CNBC money pundit Jim Cramer is an unlikely new avatar for climate activists with his take on Big Oil's future.
What he's saying: Cramer made waves Friday with his response to ExxonMobil's and Chevron's glum earnings reports. "I’m done with fossil fuels. They’re done," he said, later adding, "We are in the death knell phase" and citing divestments by "a lot of different funds."
OPEC's possible responses to the spreading coronavirus that's hurting oil demand and prices are starting to come into view.
Why it matters: Besides killing more than 360 people so far, the outbreak is severely curtailing airline and economic activity in China, the world's largest oil importer and second-largest oil consumer.
Strong earnings reports from buzzy tech companies like Amazon and Microsoft have dominated headlines, but the numbers for the broader market remain negative.
What's happening: With 45% of S&P 500 having reported earnings, FactSet estimates an overall earnings decline of 0.3% for the quarter.
The coronavirus has the potential to be as damaging to the global economy as the U.S.-China trade war, economists tell Axios, and if not contained could wreak havoc on businesses across the globe, with great uncertainty over how bad things could get.
Why it matters: The epicenter of the virus is China, which is now the world's top trading nation and largest commodity buyer, and the no. 1 trading partner for many of the world's biggest economies, including Germany and Japan, which both are suffering already from anemic growth.
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