Happy Friday! Here is your Before The Bell: March 12th News Update.
- Futures are mixed this morning as the 10-year treasury yield spiked back to its 2021 highs.
- Carl Heastie, Speaker of the New York Assembly, “authorized an impeachment investigation into allegations of misconduct by Gov. Andrew Cuomo,” according to CNBC. Cuomo has had 6 women accuse him of sexual harassment, the most recent on Tuesday, March 9th.
- A fire broke out at Tesla’s (TSLA) Fremont, California Gigafactory yesterday evening. According to Electrek, it was “Tesla’s giant stamping machine, believed to be the world’s biggest,” at the center of the fire. Electrek states that the stamping machines were “put in operation last year” and Tesla “introduced another of those massive machines at the Fremont factory in September.”
- The CEO of Ant Group, which was supposed to have a $37 billion IPO until Chinese regulators stepped in and blocked it, has resigned for “personal reasons,” according to Bloomberg.
- Bloomberg has reported that the largest cryptocurrency exchange, Binance, is under investigation by the Commodity Futures Trading Commission (CFTC) over, “concerns that it allowed Americans to place wagers that violated U.S. rules.” According to Bloomberg, the CFTC “is seeking to determine whether Binance, which isn’t registered with the agency, permitted U.S. residents to buy and sell derivatives that the regulator polices.”
- Boeing (BA) has confirmed that it has received an order for 24 Max jets from an investment firm, with an option to purchase an additional 60 in the future, according to Reuters.
- Netflix (NFLX) is testing a new policy that would require users to create their own account instead of sharing with someone. According to CNBC, Netflix will show a message to some users that says, “If you don’t live with the owner of this account, you need your own account to keep watching.”
- Hindenburg Research has released a new short report on Lordstown Motors (RIDE) titled, “The Lordstown Motors Mirage: Fake Orders, Undisclosed Production Hurdles, And A Prototype Inferno.”