Tech
Tesla shares inch closer to Musk's $420 take-private offer – Yahoo Finance
(Reuters) – Shares of Tesla Inc <TSLA.O> hit a fresh record high for the third straight session on Friday, and were just $7 shy from the $420 per share price at which founder Elon Musk sought to take the electric carmaker private more than a year ago.
The recent run-up is a stunning turnaround for the shares, triggered by a rare quarterly profit in October, news of production ramp-up in its China factory and upbeat early deposits for its recently launched electric pickup truck.
The shares have climbed about 40% since the earnings. At roughly $74 billion, the company’s market capitalization tops by about $20 billion that of the biggest U.S. automaker by production, General Motors Co <GM.N>, and is nearly twice that of rival Ford Motor Co <F.N>.
But the tweet in August 2018 that he had “funding secured” to take Tesla private at $420 per share finally cost Musk and the company $20 million in fines each by the U.S. Securities and Exchange Commision.
Wall Street remains divided, with 13 brokerages recommending “sell” or lower, and 11 rating the stock “buy” or higher. Nine have a “hold” rating.
“Given the clash between Elon Musk’s long-term goals/vision and the near-term fundamentals, Tesla stock is the ultimate sentiment pendulum,” analysts at RBC Capital Markets wrote on Friday, hiking its price target by $70 to $290.
RBC is the 10th brokerage to boost its price target in the last 10 days, according to Refinitiv data.
Tesla’s shares were up 2.2% at $413 on Friday, trading 46% higher than Wall Street’s current median price target.
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(Reporting by Munsif Vengattil in Bengaluru; Editing by Sriraj Kalluvila)
Samsung started experimenting with the exclusion of accessories from the retail box of its phones started with the Galaxy Note 20 last year as it didn’t offer earphones but shipped them for free to those who requested.
The strategy seems to be gaining more traction after Apple excluded the charger a few months back from all its iPhone devices. Xiaomi followed the suit with its Mi 11, but unlike Apple, it offers an option to customers to have a charger in the box.
Now, Xiaomi’s sub-brand is expected to do the same with the upcoming Redmi K40 series smartphones, if the newly released images are to be believed. It seems that another device from the company is also expected to remove the charger from the box — Redmi Note 10.
Lu Weibing, General Manager of the Redmi brand recently posted on Weibo, asking for suggestions for the upcoming Redmi Note 10 series smartphones. In the comments, some users suggested removing the charger from the box, and to one of those comments, Lu Weibing responded by saying “message received,” which indicates that the charger won’t be included in the retail box.
Smartphone manufacturers are justifying removing the charger from the box by citing the move as “environment friendly” and claiming that most users already have a charger at home. But they ignore the fact that the charger users might have at home won’t be compatible with the latest fast charging technology and to get the advantage of that feature, they will have to purchase a new one.
While the Weibo post may hint that the Redmi Note 10 lineup could be launched soon, we don’t expect the official launch at least for a couple of months as the company is currently gearing up to launch the Redmi K40 flagship smartphone by the end of next month, after the Spring Festival in China.
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Hitman 3 speedrunners have managed to complete one of the game’s new levels in just eight seconds.
The game officially released just five days ago, but speedrunners have already managed to pull off some pretty impressive feats, especially on completing the Dubai-based level “On Top Of The World.” So far, Swedish player Goron sits at the top with a time of just eight seconds, while three other players tie for second place with a nine-second completion time. The incredible times involved players running up the steps of the lobby as soon as the level starts, where you can shoot both your targets right after they spawn, before racing back to the level’s exit. While these record times are for the “Any %” category, even players in the “Silent Assassin” category managed to complete the level in just 16 seconds.
Hitman 3 is now available for the PlayStation 5, PlayStation 4, Xbox Series X/S, Xbox One, Google Stadia and PC.
Elsewhere in gaming, Microsoft has reversed its latest controversial Xbox Live price increases.
Netflix is rolling out a new update that promises better audio quality on Android devices, including a fix for sudden volume changes, better sound in noisy environments, and better performance on slower mobile data connections. The company has implemented the Extended HE-AAC with MPEG-D DRC (xHE-AAC) audio codec on its streaming platform for Android mobile devices running Android 9 Pie and newer software. Although the technical aspects behind the change are quite complicated, the simplest way to explain the change is that Netflix is now promising “studio-quality audio” to go with its already excellent video content on Android devices.
Netflix has listed all of the changes brought about by the xHE-AAC audio codec in detail in a blog post. A key change that will make a difference to users across the world but particularly in India is the variable bitrate for audio streaming. This means that the codec will be able to adapt to the quality of the Internet connection; slower mobile data connections will see the stream scale back a bit to adjust, while maintaining some level of sound quality.
Additionally, all of this could mean that you’ll be able to watch Netflix movies and TV shows using your smartphone’s speakers — that is, without headphones — and still be able to hear dialogues and other sounds intelligibly even in noisy environments. The Netflix update will also offer a solution for the issue of sudden volume changes that often have users rushing to grab either the volume button or headphones to avoid disturbing others in the household.
The new upgrade is the latest in Netflix’s efforts to offer high-quality video and audio on its streaming platform. While some of its picture technologies such as Dolby Vision and Dolby Atmos require supporting hardware and fast Internet connections to work, small tweaks such as xHE-AAC will enable improvements even at the most basic level, especially for users who rely on slower mobile data connections as is common in India.
Can Netflix force Bollywood to reinvent itself? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts or RSS, download the episode, or just hit the play button below.
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