In the news: Tesla teaming with Panasonic, FAA to fine Southwest and more


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.

Tesla Motors

Electric car maker Tesla Motors (TSLA) 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.

Southwest Airlines

The Federal Aviation Administration proposed a $12 million fine against Southwest Airlines (LUV) 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 (AET) 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.

Reynolds American

Tobacco giant Reynolds American (RAI) 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

Goldman Sachs (GS) 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 a memo.

Bobby Raines

Bobby Raines

Bobby Raines is the Managing Editor of the Market Intelligence Center. He has degrees in Mass Communications and History from Emory & Henry College. Bobby worked at a mid-sized daily newspaper before making a switch to covering the financial industry full time in the years leading up to the financial crisis. He has been a member of the Fresh Brewed Media team since 2011 and has served as a writer and analyst. You can write to him at or follow him on Twitter: @BRatMICenter.

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