Tesla Motors Inc (NASDAQ:TSLA) received some unwanted attention from Consumer Reports on Monday after the review outlet wrote that Tesla’s new Model X SUV “has been plagued with malfunctions, including its complex Falcon-wing doors”. In addition, Consumer Reports has concerns over how Tesla has deployed and marketed its semi-autonomous technology, with saying that they believe automakers “need to clearly communicate” what the systems “can and cannot do”. In better news, Consumer Reports did say that the Model S has improved to “average” reliability. The number of funds from our database with holdings in Tesla Motors Inc (NASDAQ:TSLA) fell by three quarter-over-quarter to 36 at the end of June.
Traders are keeping a close eye on Valeant Pharmaceuticals Intl Inc (NYSE:VRX) after famed value investor Bill Miller of Legg Mason Capital Management said on CNBC that he thinks Valeant could “double in three years”. Miller, in particular, likes the company’s free cash flow and bought some shares of the pharmaceutical company last week. A total of 60 funds owned shares of Valeant Pharmaceuticals Intl Inc (NYSE:VRX) at the end of June, down by 11 funds from the previous quarter.
Here’s the full video of Bill Miller comments about Valeant:
Nano-cap SAExploration Holdings, Inc. (NASDAQ:SAEX) shares have spiked by 37% in extended-market trading after the company announced that it has received around $24.4 million of tax credit certificates from Alaska’s Department of Revenue. As a result of having received the tax credit certificates, SAExploration has been granted access to the remaining $15 million of funding under a senior loan facility. CEO Jeff Hastings said:
“We are very pleased that we have begun to receive tax credit certificates from the State of Alaska sooner than expected and access to the remaining $15.0 million under our Senior Loan Facility ensures our ability to progress through the receipt and monetization of the remaining tax credits. We believe the value that can ultimately be derived from these tax credit certificates, and those yet to be issued, will be highly accretive to the company and to our stockholders.”
Five funds tracked by Insider Monkey held shares of SAExploration Holdings, Inc. (NASDAQ:SAEX) valued at $74,000 in aggregate, having amassed 3.70% of the company’s float on June 30.