Tesla Motors reported Wednesday that its losses nearly tripled in the fourth quarter of last year, as the company revved up production of its luxury electric cars and built a massive battery factory in Nevada.
And yet, the company also forecast profitable days ahead, sending its battered stock higher in after-hours trading.
Tesla’s quarterly loss hit $320.4 million ($2.44 per share), up from $107.6 million … More
Appetite for action-sports cameras appears to have waned, with camera maker GoPro reporting a surprise fourth-quarter loss Wednesday.
The San Mateo, Calif., company’s revenue plunged 31% to $436.6 million in the three months ended Dec. 31, compared with a year earlier.
The company reported a loss of $34.4 million, or 8 cents a share … More
Action sports icon Shaun White is returning to his childhood stomping grounds with the deed in his hand. In a deal announced Jan. 28, White has joined the Mammoth Resorts’ ownership team as an investor, with an immediate focus on Big Bear Mountain Resorts.
“It’s amazing that I’m now an owner of the mountain where I grew up riding,” White said. “As an owner I’ll be able to … More
Surf and skate wear retailer Quiksilver expects to emerge from bankruptcy around February 8 after a US court approved a $US600 million ($848 million) refinancing overnight.
Quiksilver said its Plan of Reorganisation — under which US-based private equity firm Oaktree Capital Management will take control of more than 90 per cent of its shares — has been confirmed by the United States Bankruptcy Court for the District of Delaware.
The plan was supported by the company’s major stakeholders, including an official committee of unsecured creditors.
“This is an important milestone in the evolution of Quiksilver and … More