A split would make the securities more interesting for small investors again. Also: Apple outperforms Netflix and further cash injection for German Fintech Moonfare.
Tesla boss Elon Musk (who, by the way, is infected again with Covid) has already had success with a stock split.
Christian Marquardt-Pool/Getty Images
Good Morning! While you slept, work continued elsewhere in the digital scene.
The top topics:
Tesla plans to split its shares to pay shareholders a stock dividend. This emerges from a report that the US electric car manufacturer has filed with the country's stock exchange regulator. The share split is to be voted on at the annual general meeting. A stock dividend is a dividend paid to shareholders in the form of additional shares rather than cash. These dividends don't affect a company's value, but they do dilute its stock price.
Shares of Tesla rose more than six percent to about $1075 after the news. The company last split its shares in August 2020. Since that 5-to-1 split went into effect, shares have more than doubled. The news follows a stock market "rollercoaster": Tesla shares lost some of their value this year. By the close of trading on Friday, the loss for 2022 was 4.4 percent. However, stocks were up 49.8 percent in 2021 and as much as 743.4 percent in 2020. [More at CNBC]
Today you will hear from Johanna Baare and Anne Lamp on the start-up scene. With their startup Traceless Materials, the two founders are looking for an alternative to plastic. They were showered with prizes early on – but that also built up a lot of pressure. In the podcast they tell us how they deal with it. [More at start-up scene]
And here are the other headlines of the night:
Apple surpasses Netflix: At the 94th Academy Awards, Apple's film "Coda" about the child of deaf parents scooped the coveted prize. "Coda" beat out Netlix's "The Power of the Dog," a western directed by Jane Campion, which had previously been considered a likely winner. This makes Apple the first streaming service, ahead of Netflix, to receive the coveted award. The Oscar is also a big win for Apple because the company only launched its streaming service in 2019. [More at Los Angeles Times]
Moonfare receives another cash injection to expand its business model. The German fintech receives 35 million US dollars from the London investment company Vitruvian Partners. Moonfare, which is planning to open an office in Singapore soon, is a private equity platform that enables private investors to gain digital exposure to private equity funds, venture capital funds and infrastructure funds. [More at Handelsblatt]
HP takes over the headphone manufacturer Poly. The PC and printer manufacturer spends 1.7 billion US dollars on this. With the deal, the US company is continuing to focus on the concept of hybrid working – i.e. a mixture of office and home office. The deal, which comes about two years after Xerox's takeover bid was fended off, shows how positively HP's business has developed during the pandemic. The acquisition is also the largest such deal since what was once Hewlett-Packard was split into HP and Hewlett Packard Enterprise in 2015. [More at Wall Street Journal and The Information]
Apple plans to throttle production of some of its most popular products due to macroeconomic factors. According to a report by Nikkei Asia, these factors include the war in Ukraine and rising inflation. Both would affect demand, it said. The move is an early sign of how international brands are adjusting to the global slowdown in consumer spending. Apple plans to cut production of the new version of its cheaper iPhone SE by up to three million units in the current quarter. In addition, significantly fewer Airpods are to be produced. [More at Nikkei Asia]
Huawei has seen its annual revenue fall 29 percent after US government sanctions dealt a severe blow to the Chinese firm's once-thriving smartphone business. In 2019, the US government blocked Huawei's access to American technology, including chips and other components and critical software from Google. Huawei, which was the world's second-biggest smartphone maker after Samsung in 2019, dropped out of the top 5 last year, according to research firm IDC. [More at The Information]
Our reading tip on Gründerszene: The Hamburg twins Alessio and Ricardo Bruni founded their company Heroes in the summer of 2020. Now it came out: The German-British shop buyer was threatened by an investor for a bizarre reason. [More at start-up scene]
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