NHTSA Decides Against Tesla Probe, Dish’s FCC Proposal, and 3 More Hot Stocks
Tesla Motors (NASDAQ:TSLA): The National Highway Traffic Safety Administration has concluded that the now-infamous Tesla Model S fire in Washington was not caused by a safety defect, as the agency found no evidence to suggest this was the case. As a result, the regulator said on Thursday that it will not be pursuing a further investigation into the issue.
Dish Network Corp. (NASDAQ:DISH): Dish is promising to launch a successful auction of U.S. airwaves in January on the condition that the Federal Communications Commission will allow it to use the airwaves it already owns in different ways, in turn making them more valuable. The move could be one driven by Dish’s desire to launch a wireless network to compete with the large telcos; Macquarie estimates that Dish could see $37 per share if wins the auction and can change the usage of the airwaves.
Walt Disney Co. (NYSE:DIS): Disney is planning a grand entrance into China with its largest store yet, to be constructed in Shanghai. Expected to encompass roughly 53,000 square feet, the store is meant to cater to China’s rapidly growing middle class. ”China’s flagship Disney Store will feature the largest and most diverse collection of Disney products by local and international designers,” Stanley Cheung, executive vice president and managing director for Disney China, said.
Rio Tinto PLC (NYSE:RIO): Rio Tinto is apparently in advanced negotiations to sell its 50.1 percent holding in a coal mine in Australia to Glencore Xstrata and Sumitomo for a ballpark $1 billion. Glencore and Sumitomo would each buy half of Rio’s stake in the Clermont mine, while the deal could be signed as early as Friday.
America Movil SA (NYSE:AMX): America Movil’s net profit saw a decline of 46 percent to 16.38 billion pesos ($1.25 billion), substantially missing the consensus of 25.66 billion pesos. However, revenue rose to 194.22 billion pesos, with increased smartphone sales contributing. Mobile subscribers increased by 3.1 million to 265 million; an increase in financing costs to 10.8 billion pesos, including a forex loss of 2.9 billion pesos, put a significant dent in earnings.
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