Tesla, Inc. (NASDAQ:TSLA) Plans To Purchase 96,900 Shares Of Common Stock, Worth About $25M- AstraZeneca (AZN), BRF S.A. (BRFS)

Stocks of Tesla, Inc. (NASDAQ:TSLA) shows active performance, knocked down -0.21% to trade at $261.50. As it ramps up production for the Model 3 electric car, Tesla Inc. on Friday, said it has raised $1.2 billion from stock offerings, which is approximately 20 percent more than it had initially planned earlier in the week.

The Palo Alto-based car maker said on Wednesday that it plans to offer $250 million of common stock and $750 million in convertible notes due in 2022. Tesla CEO Elon Musk himself plans to purchase 96,900 shares of common stock, worth about $25 million, the company said. Tesla said that it would use money to “strengthen its balance sheet and further reduce any risks associated with the rapid scaling of its business due to the launch of Model 3.” The Company showed a negative -9.60% in the net profit margin and in addition to its operating margin, which remained -9.50%.

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AstraZeneca PLC (NYSE:AZN) luring passive investments, as shares eased up 0.56% ended at $30.69 as the stock held volume of 4.35 Million as compared to average daily volume of 6315.17. AstraZeneca (AZN) reported that its receives Complete Response Letter for ZS-9 from FDA. The firm reported the FDA has issued a Complete Response Letter regarding the New Drug Application for ZS-9 (sodium zirconium cyclosilicate).Sodium zirconium cyclosilicate is being developed for the treatment of hyperkalaemia by ZS Pharma, a wholly-owned subsidiary of AstraZeneca.

Hyperkalaemia is characterised by high potassium levels in the blood serum.The CRL followed an inspection by the FDA of the ZS-9 manufacturing facility. The CRL does not require the generation of any new clinical data. AstraZeneca and ZS Pharma are committed to working with the FDA to resolve the remaining matters under review as soon as possible.

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BRF S.A. (NYSE:BRFS) plummets -7.73% to close at $11.81 with the total traded volume of 9.89 Million. The firm’s current ratio calculated as 1.50 for the most recent quarter Goldberg Law PC reported that it is investigating BRF S.A. (BRFS) concerning possible violations of federal securities laws.Brazilian federal police raided the offices of BRF and other meatpackers after a two-year investigation of alleged bribery of regulators to subvert inspections of their plants.

The investigation, regarded as “Operation Weak Flesh,” had uncovered about 40 cases of meatpackers who had bribed inspectors and politicians to ignore unsanitary practices such as processing rotten meat and running plants with traces of salmonella. Police arrested three BRF employees.

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Steve Hart

Steve Hart is a longtime business journalist who has covered everything from municipal bonds to management, major banks and MBA programs. Prior to becoming a writer at Seneca Globe News, Steve Hart was a securities analyst and a budget and fiscal analyst. Steve can be reached at steve.hart@senecaglobe.com

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