Pippa Stevens of CNBC.com offers you the best news reports on the day. On today’s program, Phil LeBeau explains how airlines are calling pilots to work while preparing for a busier summer schedule now that so many Americans are being vaccinated. In addition, Brian Schwartz explains his coverage of the corporate setback to new voting laws that critics say violates the voting rights of people of color.
Disney, Geico and other companies support Florida lawmakers now sponsoring restrictive bills
Republican lawmakers in Florida who received corporate support from Disney and other major corporations during their campaigns are now sponsoring a bunch of bills that could place restrictions on voting access in the major state.
The Brennan Center for Justice lists three proposals from Florida that, in their current form, would amount to voter restrictions. State lawmakers sponsoring these bills are seeing contributions from media giants Disney and Charter, the prison that sees the GEO group, insurance company Geico and travel planner Expedia, along with CenturyLink and other massive businesses. CenturyLink renamed itself Lumen Technologies in 2020. These companies have so far been silent on the voting rights issue.
An Roth Capital analyst says Tesla’s share is worth $ 150, which will be a 78% discount
According to Tigla, senior research analyst at Roth Capital, Tesla’s share is overvalued and worth only $ 150. He said the electric carmaker needs to do more to justify its nearly $ 700 share price.
Shares of Tesla closed at $ 691.05 overnight as investors welcomed the delivery of the electric car maker.
But the possibility that Tesla could beat estimates is “clearly already in valuation,” Irwin told CNBC’s “Squawk Box Asia” on Tuesday. The company’s valuation of about $ 660 billion is close to the total size of the US and European car market, although it is only a ‘less important player’, the analyst said.
Tops to go public through SPAC deal as baseball card companies face NFTs
Topps, best known for its baseball tickets and the Bazooka candy series, has agreed to merge with Mudrick Capital Acquisition Corporation II, a special purpose-acquired company, valued at $ 1.3 billion.
Former Disney CEO Michael Eisner continues as Topps’ chairman. Mudrick Capital and funds and accounts managed by Gamco Investors and Wells Capital Management are expected to invest another $ 250 million in the SPAC. Private equity firm Madison Dearborn Partners plans to sell most of its ownership in Topps, but Eisner’s firm The Tornante Company will convert its entire stake into the new combined company.