Takeover: I completely missed this one. Link here.
The $2.6 billion Alaska Airlines takeover of Virgin America has started to show up in the SeaTac-based airline's bottom line.
The carrier reported a 36 percent surge in profits on Thursday. Since completing several items of its plan to integrate Virgin, Alaska reported significantly higher profits for its second quarter, generating a $262 million profit compared to $193 million in 2018's second quarter. Alaska reported $2.3 billion in revenue for the quarter, a 6 percent year-over-year increase that was helped by a 16 percent surge in revenue from its air cargo operations.Tesla: short sellers net $1.5 billion following Tesla's miss. Link here.
Tesla: down again today on an "up" day for the market. The dirty little secret:
- batteries account for 90% of the total cost of an EV
- battery prices are not going down
- at best, technology will "improve" batteries "on the margins" but there won't be any breakthroughs
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