JPMorgan analyst cuts Tesla price target by 37%

Photo: Justin Sullivan via Getty Images

JPMorgan analyst Ryan Brinkman cut his Tesla price target from $308 to $195, stating that it appears "funding has not been secured" for Elon Musk's take-private proposal as originally claimed, reports StreetInsider.com.

The big picture: The fallout continues from Musk's tweet that he had funding secured to take Tesla private at $420. The company is facing legal action from Tesla shareholders and has been subpoenaed by the SEC, who are investigating Musk for potential stock manipulation.

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Rebecca Falconer, Laurin-Whitney Gottbrath
Updated 1 min ago - Science

Zeta, now a Category 2 Hurricane, makes landfall on Louisiana coast

The probable path of Zeta, per the National Hurricane Center. Photo: NHC/NOAA

Zeta, classified as a "significant" Category 2 hurricane, made landfall along the southeastern coast of Louisiana on Wednesday evening, according to the National Hurricane Center.

The state of play: Louisiana Gov. John Bel Edwards (D) requested a pre-landfall Emergency Declaration in a letter to President Trump on Tuesday. The hurricane is producing 110-mph maximum sustained winds and stronger gusts. The core of Zeta — including its destructive eyewall — moved ashore near Cocodrie.

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Axios
1 min ago - Politics & Policy

Supreme Court won't expedite Pennsylvania GOP's request to block mail-in ballot extension

Amy Coney Barrett being sworn in by Chief Justice John Roberts. Photo: Fred Schilling/Collection of the Supreme Court of the United States via Getty Images

The Supreme Court voted 5-3 on Wednesday to deny a bid from Pennsylvania Republicans to expedite their request to shorten the deadline for receiving mail-in ballots. Newly-confirmed Justice Amy Coney Barrett did not participate in the decision.

Why it matters: A lower court ruling allowing ballots to be counted until 5 p.m. on Nov. 6, as long as they are postmarked by Election Day, will remain in place for now. Conservative Justices Alito, Thomas and Gorsuch wrote in a separate opinion that it's too close to the election to take up the case, but it could still be reviewed after the election if late-arriving ballots make a difference.

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Axios
24 mins ago - World

Europe faces "stronger and deadlier" coronavirus wave

Paris under curfew. Photo: Kiran Ridley/Getty Images

The coronavirus is still winning: Now even Germany is entering another national lockdown, joined by France.

Why it matters: France has been "overpowered by a second wave,” President Emmanuel Macron said in a nationally televised address today. Macron said the "new wave will be stronger and deadlier" than the first.

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