CNBC: Tesla Files for $2B Stock Sale to Back Model 3; Shares Skid
Tesla Motors announced on Wednesday an underwritten registered public offering of about $2 billion shares of its common stock to accelerate the ramp of the Model 3.
The electric automaker is offering about $1.4 billion in shares. CEO Elon Musk will sell the remaining shares to "cover tax obligations associated with his concurrent exercise of more than 5.5 million stock options."
Shares of Tesla were down more than 2 percent in after-hours trading.
Fortune: Goldman Sachs Says It's Time to Buy Tesla Stock
After three years of saying just wait for it, Goldman Sachs says now is the time to go in on Tesla Motors.
The investment banking giant upgraded its recommendation on the stock from “Hold” to “Buy” while maintaining a price target of $250 Wednesday -- sending Tesla TSLA 2.36% shares up in early trading.
The last time Goldman gave Tesla a Buy rating was in February 2013 -- with a price target of $45. Goldman held onto its neutral rating in recent months as well, saying it was seeking a lower entry point. Tesla is currently trading at about $208.
Washington Post: China's Debt Bubble Is Getting Only More Dangerous
It would be like finding out Warren Buffett's financial empire may have been, quite possibly, a sham.
That's what happened last year when China's richest man -- at least on paper -- lost half of his wealth in less than half an hour. It turned out that his company Hanergy may well just be Enron with Chinese characteristics: Its stock could only go up as long as it was borrowing money, and it could only borrow money as long as its stock was going up. Those kinds of things work until they don't.
Atlantic City Lab: Scottish Seas Will Host the World's Largest Floating Wind Farm
Conventional turbines sit on a tower affixed to the ground, which makes it hard to reach the high winds out on the open seas. As of Monday, the Norwegian energy company Statoil has secured a lease to set up five 6-megawatt turbines 15 miles off the eastern coast of Scotland, The Guardian reports. Conventional wind turbines get prohibitively expensive at depths beyond 40 meters, but this pilot program will set up shop in 100 meters of North Sea brine.
How can they do that? By floating. Instead of building all the way up from the sea floor, the Hywind turbine sits on top of a steel tube that is weighed down with ballast. This is then secured to the sea floor with three anchored cables, while a stabilizing mechanism keeps the whole contraption from flailing all over the place. It all sounds a bit fantastic, but Statoil’s initial demonstration turbine has been capturing wind energy in deep waters since 2009.
Ars Technica: Nissan’s New xStorage Battery Wants to Compete With Tesla’s Powerwall in Europe
This week, Nissan announced that people would be able to place orders for its new xStorage battery, a stationary storage battery for individual homeowners, in September.
The xStorage battery was developed by Nissan's London-based design facility with the help of Eaton, a Dublin-based power management company. Nissan has no plans to sell the battery in the U.S., instead focusing its efforts on the European market. According to the automaker's press release, the battery will have 4.2 kWh of capacity and will cost approximately £3,200 (approximately $4,622).