Fortune Magazine published two reports alleging a May 7 wreck killing Model S owner Joshua Brown was "material" information that should have been disclosed by Tesla before selling more than $2 billion of stock in a public offering at a price of $215 per share .
And late last month, Tesla founder and chief executive Elon Musk announced plans to spend up to $2.8 billion buying solar panel maker SolarCity , a separate company he founded and for which he serves as chairman of the board. On its side, Tesla is reminding the public that its automated system is not foolproof and that the cars have already driven more than 130 million miles, with only one regrettable accident to date.
The June surge in job growth reflected in part the end of a strike by more than 35,000 Verizon workers that had artificially held down the May numbers. Among services providers, retailers boosted payrolls by nearly 30,000, while employment in health care climbed 58,400. Economists say the deceleration is normal given the relatively advanced age of the economy's recovery from the 2007-09 recession, with the labor market now near full employment.
Tesla delivered just 14,370 vehicles in the second quarter, below the 17,000 originally forecast, according to figures released over the weekend. The stock dived on news of Tesla's SolarCity bid, falling more than the value of its offer. Tesla shares dropped 1.2 percent Tuesday to $213.98.
Wage growth remains soft and unspectacular. The U.S. job market once picked up speed in June, new government data showed today, exceeding analyst expectations after a disappointing jobs report in the month prior. The jobless rate for black Americans, for example, climbed to 8.6 percent from 8.2 percent. A modest 144,000 jobs were created in April. The rise likely reflected more people seeking jobs, the Washington Post reported.
Only 38,000 nonfarm jobs were created in May, a significant miss, compared with expectations. After a roller-coaster ride sparked by Britain's June 23 vote to leave the European Union, US investors are looking for signs of the health of the economy and the possible impact of the vote on quarterly earnings.