Monday headlines include: Tesla getting an investment from
Panasonic for its gigafactory, the FAA proposes a $12 million
fine against Southwest Airlines, Aetna and Reynolds American beat
on earnings, and Goldman Sachs prepping new ETF products.
Electric car maker Tesla Motors (
) secured a deal for Panasonic to invest in the company's
proposed gigafactory. The Japanese company will reportedly invest
between $200 and $300 million in the enormous battery plant.
The Federal Aviation Administration proposed a $12 million
fine against Southwest Airlines (
) in connection with failures to comply with safety regulations
on repairs done to 737s. The civil penalty is the second largest
fine the FAA has ever proposed against an airline. The regulator
claims a contractor that the company hired to fix potential skin
cracks on 44 737s did not follow proper procedures.
Health insurer Aetna (
) said Tuesday that it earned $1.52 per share, or $1.69 per share
on an adjusted basis. Operating revenue was $14.5 billion.
Analysts had expected the company to earn $1.61 per share on
$13.97 billion in revenue. Looking forward, the company
said it expects to earn between $6.45 to $6.60 per share, up from
a prior forecast for $6.35 to $6.55 per share. Analysts expect
the company to earn $6.50 per share.
Tobacco giant Reynolds American (
) said Tuesday that it earned 92 cents per share in the first
quarter, or 89 cents on an adjusted basis. Analysts had expected
the company to earn 87 cents per share. The company left its
guidance range unchanged at $3.35 to $3.45 per share. Analysts
had estimated $3.35 per share.
Goldman Sachs (
) is moving an executive from its trading division to its
investment management arm in a move that seems to signal a move
into the ETF management space. Michael Crinieri, who was once the
bank's top equities trader, will now head ETF strategies in the
company's asset management unit. Crinieri will develop new
products to sell "across the asset class spectrum." According to
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