Tesla Inc (NASDAQ:TSLA) shares closed almost 4% lower on Tuesday after it was reported the electric vehicle maker will be pausing production of its Cybertruck and Model Y vehicles for a week starting June 30.
The pause is intended to allow Tesla to perform maintenance and improvements on the production lines, according to a Business Insider report.
Reddit (NYSE:RDDT) shares moved more than 6% higher after it unveiled two new AI-powered advertising tools designed to help brands better engage with its user community by leveraging real conversations and trends.
Reddit Insights is a social listening tool that provides marketers with real-time data from Reddit’s vast repository of over 22 billion posts and comments, the social media platform said. It helps identify emerging trends, test campaign ideas, and understand brand sentiment by summarizing conversations, linking to specific posts, and highlighting top subreddits relevant to the brand or topic.
Solar stocks moved sharply lower after a US Senate panel has proposed phasing out solar and wind energy tax credits by 2028.
Solar installation company Sunrun Inc (NASDAQ:RUN) led the decline in solar stocks, tanking 42% late morning on Tuesday.
Chevron Corporation (NYSE:CVX, ETR:CHV) is getting into the lithium business with the acquisition of two leasehold acreage positions in Texas and Arkansas.
The move follows ExxonMobil’s efforts to establish a domestic lithium business.
Northern Superior Resources Inc. (TSX-V:SUP, OTCQX:NSUPF) announced that it is expanding its footprint in the Chibougamau Gold Camp in Quebec with the acquisition of three new properties.
The company has signed a binding term sheet with TomaGold Corporation to acquire the Hazeur, Monster Lake East, and Monster Lake West properties.
T-Mobile US Inc (NASDAQ:TMUS, ETR:TM5) shares fell 4.5% on Tuesday morning after SoftBank Group Corp sold 21.5 million shares in the wireless carrier through a $4.9 billion overnight block trade, trimming its stake from 7.5% to 5.6%.
The unregistered sale, priced between $224 and $228 per share, represented a discount of about 3% to Monday’s closing price and marks the biggest US equity block sale since Toronto-Dominion Bank’s $13.1 billion divestiture of Charles Schwab in 2023.
Lisata Therapeutics Inc (NASDAQ:LSTA) and GATC Health have expanded their strategic alliance aimed at accelerating and improving the success rate of drug development using artificial intelligence (AI).
The expanded collaboration builds on prior work in which GATC provided AI-based analysis supporting Lisata’s certepetide drug candidate.
Atlas Metals Group plc (LSE:AMG) rocketed 90% in early deals as it inked a new acquisition deal, a reverse takeover.
It sees the company acquiring Universal Pozzolanic Silica Alumina Ltd, which owns rights to a ‘pozzolanic silica alumina reserve’ in Australia.