Major Stocks Making News: Amazon, Tesla, Lululemon, More

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Elon Musk Terminates Rumor

Tesla Motors Inc (NASDAQ:TSLA) is in the spotlight today after CEO Elon Musk shot down rumors that Tesla might be sourcing some batteries from Samsung SDI for an upcoming vehicle. Mr. Musk said in a tweet that, “Would like to clarify that Tesla is working exclusively with Panasonic for Model 3 cells. News articles claiming otherwise are incorrect.” Mr. Musk expects Tesla Motors Inc (NASDAQ:TSLA) to ramp production up to 500,000 vehicles per year by 2018, two years ahead of the previous guidance. Seeing as 2018 is only two years away, Tesla may need as much help as it can get to achieve its goals. Evidently, sourcing batteries from Samsung SDI for Model 3 cells is not one of the methods it will use to achieve that however. The number of funds in our system with holdings in Tesla rose by ten quarter-over-quarter to 39 as of the end of March.

Blackstone Group LP in the Running for Billion Dollar Acquisition

According to Reuters, Blackstone Group LP (NYSE:BX) is in advanced talks to buy Acrisure LLC in a deal potentially valued at over $2 billion when including debt. Acrisure LLC is a U.S. insurance brokerage that generated $231 million for the 12 months ended September 2015. Although the talks are in an advanced stage, there is no guarantee of a deal. Of the funds that we track, 29 funds held $241.26 million in Blackstone Group LP (NYSE:BX) holdings on March 31, down from 31 funds with $308.78 million in positions on December 31.

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Amazon.com Invests More In India

Seeing as Amazon.com, Inc. (NASDAQ:AMZN) is renowned for its long-term thinking and India is expected to be one of the great e-commerce growth markets over the next three decades, it’s not surprising that Amazon has announced that it is planning to invest over $5 billion in the country, or $3 billion more than previously indicated. Amazon will presumably use some of the capital to build more fulfillment centers to increase the speed of delivery. The company could also use the additional capital to potentially expand its AWS infrastructure in the nation too. Andreas Halvorsen‘s Viking Global owned over 3.4 million shares of Amazon.com, Inc. (NASDAQ:AMZN) at the end of March.

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Disclosure: None

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