Tesla Inc.’s (TSLA) CEO billionaire Elon Musk is reportedly asking employees to work hard to allow the electric car maker to break even in the second quarter.According to an internal email seen by Reuters, Musk is encouraging employees to quickly build and deliver vehicles at the end of the quarter to meet specific targets after production was disrupted due to restrictions tied to the coronavirus pandemic.“Breaking even is looking super tight,” Musk said in the Monday email. “Really makes a difference for every car you build and deliver. Please go all out to ensure victory!”Shares rose 5.2% to 1,009.35 at the close on Monday. The plea comes as the automaker is this week expected to release its second-quarter delivery numbers report. Analysts on average expect the company to deliver about 74,000 vehicles in the months from April to June.Ahead of the delivery report, JMP Securities analyst Joseph Osha today raised the...
(Bloomberg) -- Hedge funds that bought credit insurance on Wirecard AG debt are among those in line for a windfall of as much as $212 million after the disgraced German payments company filed for insolvency last week.A committee of traders meets on Tuesday to decide whether Wirecard has gone through a so-called bankruptcy credit event, triggering payouts to holders of credit-default swaps. These contracts are commonly used by hedge funds to make bets on a company running into trouble as well as by bond investors to hedge their exposure.Wirecard filed for court protection in Munich on June 25 after disclosing more than $2 billion was missing from its balance sheet. The scandal led to the arrest of ex Chief Executive Officer Markus Braun and inflicted severe damage to the reputation of Germany’s financial sector. The country’s deputy finance minister has pledged a quick overhaul of regulatory oversight.Wirecard’s credit derivatives reference its...
