the fire in fremont at the tesla factory right off 880. it looks like firefighters are getting the upper hand but for the past 30 minutes we saw a lot of flames in part of the outdoor structure there. if you're familiar with the tesla plant there, there is a lot of outdoor production tents, if you will, the size of football fields. one of those tents, the corner of it has caught fire. we mentioned earlier it started with a cardboard fire but it looks like by the color of that smoke, the white smoke, that firefighters are getting the upper hand there at the tesla production facility in fremont. we're also following breaking news near mt. diablo. a fire broke out a few hours ago on the backside of mount diablo. we're going to show you that video here near the juniper camp ground. this fire is about three to four acres, but it appears that crews are getting a hand on it near the back side of mt. diablo. >>> trouble in paradise as hurricane lane barrels towards the hawaiian islands. already causing flooding on the big island. nearly 20 inches i

the leaf. that is two thirds of a higher. this is tesla> i stopped betting against elon musk personally. liz: i saw his first rocket in hawthorne, california, back in 2006. it looked like a science project. >> i heard the brakes didn't work that well. liz: dow jones industrials is up 130 points and we do have tesla, quite the winner today. [closing bell rings] as the closing bell rings, spiking quite after a quite a dramatic day, no doubt will change the conversation on wall street and on main street, about how information is disseminated to investors in the markets. that will do it for the claman countdown. melissa: strong profits driving the rally. the dow ending up 128 points as it shakes out. it is green for the s&p 500. nasdaq closing in positive territory for the sixth day in a row. it's a huge day. the longest winning streak in five months. wow, we have a lot to cover. i'm melissa francis is we haven't even begun to talk about tesla. i'm david asman, this is "after the bell." more on the market movers but here is what we're covering

some probably mass nerd said what is the key root of 64? tesla standing in the back has his hand under a secret panel and flips a button four times that flashes the light on the model boat and as he said, the crowd nuts because they were thinking there has to be a monkey inside or something. but this was the conflict between the realities of today. probably the major engineering accomplishment of the 19th century, that bored him. what is remarkable, his accomplishment is marconi, who gets the credit for radio in people's popular mind, he tried to do something like this 3 months later, brought out a little boat, and pretended there was a spanish forget that he would maneuver his boat and place a tiny bomb to blow up the spanish frigate. he maneuvers it to the spanish frigate, pushes a button. it doesn't happen. and to individualize messages. the storeroom, for tesla, he looks at this, is this a model boat that they once to deliver a bomb, and he was aghast, are you kidding me? this is the first nonbiological form of life, embodied with a mind. he

technological accomplishment of the 19th 19th century, and they said, to tesla, belongs the man who made this project possible. there's still a statue that commemorates his work there. but this is 1897. he just did this, and he is thinking, this is so today. i am bored with today. i -- this is a real accomplishment. i want to think about something new. the decided to create a whole new field of science. he referred to it as telemet chronics. we refer to it as robotting. his first piece of equipment was a model boat. it's about four feet long, three feet high, and this was at a time he present it in some flashy places at madison square garden, the old madison square garden in new york, and he set up there a pool or a pond in the middle of this exhibition area to demonstrate this material. recognized that this is about three months after the battleship maine exploded in the havana harbor so just can he beginning of the spanish american war. a lot of interest in trying to figure out are there new ways of making weapons. so he has this presentation, brings in the na

a fire burning at the tesla complex in fremont. skyranger's overhead. firefighters aggressively attacking this fire right outside the main factory. it broke out about 30 minutes ago and fremont firefighters just told us a couple of minutes ago that it started in a pile of cardboard that then spread to the surrounding area and started a brush fire. you can see closely in the middle left-hand side, it looks like one of the tents is on fire. fire trucks have actually surrounded that tent and they've been dousing this fire nonstop for the last 15 minutes. skyranger was also over ten minutes ago. you can see what's burning there, flames catching this cardboard pile on fire. lots of black smoke off 680 and 880. drivers beware. this is coming from the tesla complex in fremont. no word, again, if anybody's injured or hurt but we know it started in a pile of cardboard boxes and then it spread from there. we have a crew headed to the screen and skyranger's going to stay up during this newscast. firefighters are there on scene aggressively attacking this fire. agai

the u.s. in march and april of this year she in tesla soon after a c. in the saudi sovereign wealth fund soon after approached tesla and said we'd be interested in buying new shoes newly issued shares to both help support your company but also we'd like to be an investor and must for whatever reason did not accept that offer and so the saudis with the help of j.p. morgan chase built the stake in the tesla stock in the subsequent weeks and months and it was private until i broke the story hours from a sooty good to speak with you thanks a greece is celebrating the end of eight years of bailouts it's avoided bankruptcy since twenty ten through three hundred billion dollars of loans from the international monetary fund and the european union but alongside the punishing austerity policies greece has had to abide by there was also a human cost john psaropoulos takes a look at how changes in society affected the country's youth. prime minister alexis t. pers may have been trying to custom self in the role of a hero when he chose to send a message to the greeks

the efficiency of extract in or from rock. it failed. all inventors fail. my point is tesla had a better batting average than most and what he gave us through radio and robots are at the very core of our autonomy and i for one am grateful that we had him. any other questions? yes, sir. >> how did he do financially? >> that's a very good question. he went up and down is the short answer. his first job was working in budapest installing edison film systems and then he came to united states to w work for edin himself. edison paid him a tiny bit of money and in fact he quit because there were squabbles and then he got cheated by his partners in a new business. spent a year digging ditches making $2 a day. suddenly he sells his s electric motor patented george westinghousett. suddenly he is wealthy. i mean really wealthy. he moves to the waldorf-astoria but then after he and westinghouse did the niagara falls project westinghouse is a little bit stressed -- stretched and jpmorgan ruthless banker that he w was trying to take ovr westinghouse has accompanied and turned to tesla who

the u.s. in march and april of this year she in tesla soon after a c in the saudi sovereign wealth fund soon after approached tesla and said we'd be interested in buying new shoes newly issued shares to both help support your company but also we'd like to be an investor and must for whatever reason did not accept that offer and so the saudis with the help of j.p. morgan chase built the stake in the tesla stock in the subsequent weeks and months and it was private until i broke the story hours from a sooty good to speak with you thanks a greece is celebrating the end of eight years of bailouts it's avoided bankruptcy since twenty ten through three hundred billion dollars of loans from the international monetary fund and the european union but alongside the punishing austerity policies greece has had to abide by there was also a human cost john psaropoulos takes a look at how changes in society affected the country's youth. prime minister alexis t. pers may have been trying to custom self in the role of a hero when he chose to send a message to the greeks that their economic odyssey is over this is

from sky fox, you can see a large tent on the edge of the tesla property was damaged by the flames. what made matters worse, a flying ember from the cardboard sparked a grass fire in a dry field next to the tesla parking lot, scorching one acre. 40 minutes later, are firefighters were able to get the fire under control, yet smoke was still smoldering from the fire for some time. >> bails of cardboard are tightly compacted, and they burn. so what is hat to hand now, we are getting assistance from tesla, they have an excavator and that's helping pull these bails apart so we can get the water into and amongst the cardboard. once the fire gets in a bail of cardboard, it's fret hard. it needs to be broken apart. >> fremont fire said this fire it was isolated away from the production building. late thursday evening, elon musk tweeted: musk tweeted: . >> reporter: again, the company says that the fire will not affect production, and in case you're wondering, this fire nowhere near that big tent that was erected earlier this year to help ramp up production of the model 3 tesla sedan. back t

our reporter on the turmoil involving the tesla chief. >> reporter: we are here at the tesla dealership. the tesla ceo says he's under tremendous pressure to produce more cars and it's driving him to the brink. in the last two months elon musk has sold 20,000 flamethrowers, he sent a mini submarine to rescue boys trapped in a cave in thailand, called the mayor of flint michigan and promised to some -- to fix the city's water crisis. and he claimed to have the funding to take the tesla car company private. >> if i was advising the board of directors i would ask for a meeting with elon musk, i would ban him from tweeting and ask for a series of reforms to ensure that eggs are properly taken care of. an in a interview he alternated between laughter and tears and acknowledged that he was fraying. he says he has been working 120 hours per we

ware near the record day high for tesla. we're at 381 either way this news is certainly push things much higher for the top jim, i want to bring you back in what's your take on the news earlier in the day which was the initial reason the shares jumped about this initial investment from the saudi wealth fund and then the timing from elon musk soon after that story hit? >> i still have a lot of questions about that, but i could understand why the stock would jump a big equity investment like that is a huge vote of confidence in the company. and i can readily understand why people would want to jump in on that why he then would immediately follow up with the tweet, i have no idea. unless the saudi investments was actually part of the going private deal you know, i'm just speculating here, but it seems possible to me that they would have been approached as equity investors as part of the buy out and somehow that got garbled on the news release i'd like to know more. i think there's a lot of questions tesla is going to have to ans

the u.s. in march and april of this year she in tesla soon after a c. in the saudi sovereign wealth funds soon after approached tesla and said we'd be interested in buying new newly issued shares to both help support your company but also we'd like to be an investor and must for whatever reason did not accept that offer and so the saudis with the help of j.p. morgan chase built the stake in the tesla stock in the subsequent weeks and months and it was private until i broke the story hours from sooty good to speak with you thanks a greece is celebrating the end of eight years of bailouts it's avoided bankruptcy since twenty ten through three hundred billion dollars of loans from the international monetary fund and the european union but alongside the punishing austerity policies greece has had to abide by there was also a human cost john psaropoulos takes a look at how changes in society affected the country's youth. prime minister alexis tsipras may have been trying to custom self in the role of a hero when he chose to send a message to the greeks that t

elon musk speaks out and we will hear from the tesla ceo on the earnings call. will he push back on analysts questioning his execution? t-mobile reports its best second-quarter ever. as the company and sprint push to close their merger, we will speak to t mobile. surging in late trading after second-quarter results missed estimates. but, revenue beat expectations. they burned through $740 million in the. , but that was less than the 900 million analysts had predicted. elon musk is setting him self more targets and now the goal is 6000 model threes a week by the end of this month. remember the tent outside of the factory? maybe it is doing the trick. we bring in bloomberg businessweek's max chafkin. seeming to bes the words about sustainable profitability and cash flow positive. is it possible? max: the big question on profitability is when will they start making investments in these future products? elon musk has talked about a smaller suv than the model x. all of the things he wants to do will cost a huge amount of moneyb, but it appears the big expenses are no

the bloomberg news deals reporter. ceo jan musk teslas, definitely no forced sales, hope all shareholders remain. way smoother and less disruptive as a private company and negative propaganda from the shorts. it all comes back. he is very mindful of this out on twitter wondering whether this can be done, what prompted the tweet today and the form of that came through in the tweet. >> i'm sure somewhere on bloomberg there is a chart and we will pull that up for you. this is bloomberg. ♪ >> this is bloomberg markets. scarlet: timeout for a snapshot of some of the biggest business stories in the news today. for elon musket today, who says he wants to take private at $420 per share. he also says he has financing secured. it came moments after the financial times sovereign wealth to $2.9ybe work up billion. posted when we released. shares of a dairy company falling. competition from retailers selling their own milk. the company plans to -- closed seven factories later than expected. wall street is investing baseballs ironman. in cala minority

i remain very positive on the stock price. i think teslas at a turning point, turning the model three into an industrial reality. i don't think that this has wings. elon musk is extremely incentivized to do it. that is a personal preference. as a ceo, given his personality, given the situation within this community, it would be great for elon to take the company private. but let's face it, if you are an investor in the company, there isn't that much value in being taken private. it would be like a downside in erms of liquidity. on top of that, the company would not benefit from anything tangible i could put in my company model in my forecast as a result of being taken private. pierre: i would give odds close to zero, to be honest. i remain very positive on the stock price. i think tesla is at a turning point, turning the model three into an industrial reality. i don't think that this has wings. elon musk is extremely incentivized to do it. that is a personal preference. as a ceo, given his personality, given the situation within this commun

that's the -- makes tesla, of course, the highest shorted stock. about 28% of market cap. >> that's a pretty big name on short. >> you have jim chenos who spoke as recently as delivering alpha. the company to meet saying that, you know, it doesn't have -- it's got a lot of sizzle, but it isn't cooked totally through also, of course, david einhorn, who has been short tesla for quite a while and put out his own investor letter last week talking about the short. got in a little bit of a skirmish with elan musk on twitter about this, but, you know, it appears here that based on today's news, up about -- more than 5% right now that, you know, clearly there's a lot of movement that is making this a very difficult stock to short. >> some of those people with bearish positions on tesla are speaking out one spoke not for -- our producer has a bearish position. somebody needs to call the s.e.c. now this smacks of market manipulation this is utter total nonsense what he is doing it may be reflecting the number you said $ch, $631 million of short lost today he

the shorts getting smoked. elon musk tweets he's considering taking tesla private. shares did pop we'll see how the stock opens this morning >>> plus, disney results were a bit of the miss. the studio and parks business soars. investors pressing bob iger. we'll fill you in on his answers. >> and snap sorars and comes bak to earth many earnings movers to get to this morning >>> tesla shares pulling bag until the premarket after rallying late. jump sparked by the midday tweet from elon musk saying he's considering taking tesla private. musk later issued a statement saying a final decision hasn't yet been made. a reason for doing this is about creating the environment for tesla to operate best. as a public company. we're subject to wild swings in our stock price that can be a major distractions for everyone working at tesla all of whom are shareholders pretty wide range of reaction from the sell side today including jpm saying it's a statement. the ceo of a public company, we're going to fold. the possibility into our evaluation. >> look, i think it's entirely possible

you just mentioned the lack of sleep. teslathing they possibly could to hit the 5000 number. it was clearly running the company ragged in all sorts of ways. you had a tent in the parking lot and they managed to get there. if they are able to stay there, sustainably come out with you on getting enough sleep and the elon getting enough sleep and the company's sort of firing on all cylinders that will be really good for investors and for the company. emily: we will be monitoring every step of the way along with you. thanks so much. stay tuned right here on bloomberg television for more coverage in asia. this is bloomberg. ♪ announcer: the following is a paid advertisement brought to you by dr. ho. to our show, living without back pain. do you suffer with back pain or shooting pain down your leg? stay tuned and discover how others like you have found a new way to relieve their back pain. aboutave had it on for one minute. already i

the claims justified? su: there have been no comments from tesla. naire cofounder and ceo of tesla as well as the company itself, charged with manipulative the stock. if you look at the way the stock traded, there was a significant bump up after this week, and it is the focus of the lawsuit. let's look. 53was august 7, and it was a character tweet that basically said that elon musk was considering taking the company private, and the keyword in the tweet was funding had been secured. we had wording on that, it would be great -- there you go. funding secured. according to charges in the class action suit, the facts that funding was secured was mentioned as part of the announcement is viewed as material and viewed as bumping up the stock. it jumped as much as 11%. back,ately after, it fell and speculation grew heading into the weekend where the funding is coming from. a group lookeded into a number of public announcements from tesla, sparked by the august 7 tweet. there is a concern by the sbc we are told whether these announcements were to give up news

i remain very positive on the stock price. i think tesla is at a turning module threeg the into an industrial -- the model three into an industrial reality. i don't think that this has wings. elon musk is extremely incentivized to do it. that is a personal preference. as a ceo, given his personality, given the situation within this community, it would be a great for elon to take the company private. but let's face it, if you are an investor in the company, there isn't that much value in being taken private. it would be like a downside in terms of liquidity. on top of that, the company would not benefit from anything tangible i could put in my company model in my forecast as a result of being taken private. it's important to put all these things in perspective against each other. i think what happened is that, a couple of weeks ago elon musk had conversations with investors. on the back of that, he started thinking about a plan to kate -- take the company private, then he tweeted the idea. then he relies his tweets were -- realized his tweet

the model 3 could be a game changer. it might bring tesla into the mid range market, the more mainstream market. maybe it will be ten years from now, some of us might own tesla automobiles. i bet none of us own a tesla. it's a little out of our price range. but, a decade from now, if tesla is still around, we might be looking at more and more people, just like henry ford brought the model t within range of average consumers, we might be looking at a vehicle that the mainstream consumer buys. and the technology that goes into tesla might be very conducive to driverless automobiles. that's what elon musk and tesla have in mind with the tractor trailer that they introduced yesterday evening. they want to start that over long stretches. that might change the trucking industry. so, yeah, it appeals to our love of technology and perhaps driverless cars in the future. it also appeals to our love of technology in another way. have any of you seen advertisements on television for tesla? you know, in the 1950s, the car age that i was talking about ear

,his is my chart of the day looking at tesla over the last couple of years. ll try to accomplish an outcome where tesla can't operate at its best, free from distractions and short-term thinking. $420,ares failed to reach indicating market skepticism. ,oining us now is david welch bloomberg detroit bureau chief. sense? make let's forget about the fact it would be the biggest leveraged buyout in history and they need a strong anchor investor. does it make sense for the company? can it grow and perform better? >> very possibly it could. one of the things that musk said is they are making short-term decisions for the good of the happyr to keep investors and at a. this is a company that needs to invest for the long haul. this is an unusual company in the sense it is an automotive startup. we have not seen one of those, a credible one, since the late 1940's. these companies need a lot of money, a lot of time. startups where you get the product out the door in 6-12 months and start bringing in a lot of cash. it takes a long time to get a car out there, then you have

our top trade this hour, the tesla bombshell, what is likely coming next and whether elon musk's plan to take the company private could really happen. here to debate the tesla trade and joe terranova, and pete najarian let's begin with tesla, the stunning news. in a moment we'll be joined by robert chapman, but recently the analyst who sparred with elon musk, tony saconatti welcome. good for being here. >> give us the probability here. what do you think? >> you know, i think it's less than 50 percent that it happens. never say never. timically it's funded by a large amount of debt getting potential 30 to 65 billion worth the dead it has no catch flow today, so today you say, okay, you may need a lot of equity and there aren't that many people looking to put in 30 to 60 billion. so you go through that process now, is it possible that elon has convinced people or convinced a small set of folks who want a significant stake in the company to step up and buy it at that price i suppose it's possible. if i were to put odds on it, i would say it's less likely than likely. >> maybe the stock a

if he's making an investment there, i said the tesla investment, the saudi investment for tesla was theed in the s&p and i will say the same thing in snap, and maybe they're embedded as well. >> from one media company to another, roku also set to report tomorrow in the afrgzs market is implying big moves on those results. let's go to our very own dan nathan out in san francisco with more on that, dan? >> hi, scotty, however they're implying a 15% move and the company has reported three-quarters since going public and last year on average he's moved 25% and the call volume was running pretty hot today. that doesn't mean -- the most acty line w active line was the august call. that's up about the implied move i have a one-year chart here since that ipo you can see, obviously, the stock is down 9% over year trading was in this fairly wide range between 60 and 40 where it's got some pretty decent support, but you know, this one is going to be on the guidance it's going to be about competition. so the implied movement is coming down quarter after quarter. first quarter out of the gate the st

the other there is a china story. was there material impact? emily: tesla talked about that. ey said in their letter, while tariffs on vehicle imports have recently decreased to 15%, imports specifically from the u.s. have increased to 40% to we had to adjust pricing in china to partially offset the increased cost. this will have negative impact on our volumes in china in the near term. as of now they don't have a huge business in china but they do aim to. it is the biggest car market in the world, so planning a big factory. all of this happening in the midst of rising trade tensions between the united states and china, and bloomberg has a report the trump administration is considering increasing tariffs on the $200 billion worth of chinese goods from 10% to 25% which is significant, but as of now even though tesla is seeing some impact, it is not huge because their business is not huge yet. haidi: difficult timing given they are planning this big shanghai factory. did we get any more details how they will pay for that? emily: we did get more details and they say the construct

e to collect data off of customer cars on the road, and when you buy a tesla it's not the same car thateft the lot. it improves over time. you get over the air updates to your car overnight these are amazing products they're convenient for the consumer this software advantage is unrivaled. so far the traditional automakers have not been able to replicate that i think that pushes tesla towards becoming a major player in electric vehicle market and the autonomous vehicle market. >> to your point, jaguar, e-pace, a number of companies are coming out with fully electric or hybrid electric vehicles do you believe that the cult of tesla, if you will is enough to keep those buyers loyal even in the face of increased competition? >> so, you know, right now tesla's very far ahead of the competition. we heard they're producing more batteries than the other automakers combined. we know they're ahead on the technology front this is something that should last for years it's not as if other automakers can come back overnight. on the data collection side, you have to install hardware in the car to mak

>> i don't apple should buy , 10% of tesl to get ios on the tesla screen part of the tesla story is thatin the middle of the car, and not having apple on that screen is going to be a huge problem for them we spend a lot of time in transportation >> computer on wheels one person described it as. gentlemen, thank you for your opposing views this is what makes the market. thanks >> thank you. >> thank you >>> after the break, pepsico is buying soda stream, worth $3.2 billion, this company continues to transition towards healthier alternatives what it means for pepsico as the ceo wraps up her tenure there. a lot more "squawk alley" to come is growing faster than bottled water. it is buying into exposure in international markets that would like more scale, in western europe, japan. it is buying sustainability. the better for the planet idea which is becoming more appealing to consumer companies. sodastream markets itself this way. reusable bottles, less plastic, beyond the bottle as pepsico called it. that's why it is buying sodastream in a $3.2 billion beal 10% premium to the price which doe

the u.s. in march and april of this year she in tesla soon after a c in the saudi sovereign wealth fund soon after approached tesla and said we'd be interested in buying new newly issued shares to both help support your company but also we'd like to be an investor and must for whatever reason did not accept that offer and so the saudis with the help of j.p. morgan chase built the stake in the tesla stock in the subsequent weeks and months and it was private until i broke the story. sooty good to speak with you thanks a greece is celebrating the end of eight years of bailouts it's avoided bankruptcy since twenty ten through three hundred billion dollars of loans from the international monetary fund and the european union but alongside the punishing austerity policies greece has had to abide by there was also a human cost john psaropoulos takes a look at how changes in society affected the country's youth. prime minister alexis tsipras may have been trying to custom self in the role of a hero when he chose to send a message to the greeks that their economic odyssey is over this is the island home hi

the smoke coming from the tesla factory could be seen from miles. someone reported the fire at 5:20 thursday evening. when firefighters got there, they found a recycling area with a large pile of cardboard and a bailing machine engulfed in flames. four engines, a truck, and a water tender responded. >> power lines in the area also caught power, along with a power pole. >> reporter: from sky fox, you can see a large tent on the edge of the tesla property was damaged by the flames. what made matters worse, a flying imper sparked a grass fire in a grass field next to the tesla park lot, scorching one acre. firefighters were soon able to get the fire under control, but smoke was still smoldering for some time. >> well, bails of cardboard are tightly compacted, and they have to burn. so what's now, and we are oh we're getting assistance from tesla they have an excavator th bails apart, so we can exit the water into and amont e cardboard. >> reporter: fremont fire said they've been called to fires at tesla before. back in june, there was a report of a smal

the car? what powers tesla? gasoline, diesel? ryan. >> it's an electric car so that just makes it much different and in a way more appealing to consumers with a taste for the future who want something different not just like gasoline vehicles fosh the last century plus that have been what we've been using. >> yeah, excellent. i mean, elon musk and tesla have entered a market where essentially there's almost a blank slate. the other automobile makers are still dependent on internal combustion engines. and for people in the u.s. and worldwide who are more conscious about the environmental impact of automobiles, the electric car is appealing. i mean, it promises perhaps the end to the internal combustion engine, and less environmental impact and carbon footprint, less smog and pollution, less global warming perhaps. so there's a reason to buy the tesla as opposed to other cars that consumers might feel attracted to. so there's that. the very nature of what fuels tesla cars as opposed to other automobiles attracts a segment of the pop

. >> the question is what did you miss? >> shares of teslastock halted after elon musk tweeted he is considering tweet -- taking the , plus, a final decision has not yet been made. trouble remains over turkish assets. their president remains silent as they plummet to record lows. and, merger on the mind for disney investors, the media company set to report currently -- quarterly earnings after the bell. watching for any details of its acquisition of 21st century fox assets. what did you miss? --n musk trolling tesco tesla short centers, teasing the possibility of taking the company private at 400 12 -- $420 per share. he said funding secured. this comes after a report from the new york times at the sovereign fund has a massive stake worth as much as $2.9 billion. that report sent shares soaring before they were halted about one hour and a half ago. with more insight now is the equity research analyst for u.s. and european autos at jefferies who joins us now by phone from london. i just wanted to take you through the blog posts tesla posted mo

what about the board of tesla? i think there's a big responsibility here, when you think about oversight to make sure there's a strong strategy in place to leetd tad the compa a good place, there's a team to implement that strategy, to be able to persuade, if you like or insist that the ceo in the interest of the shareholders takes those steps i think that's a fundmental issue >>> president trump striking a trade deal with mexico, but tensions with china still heated and that could have a big impact on energy prices we'll be discussing which way they might head coming up. >>> but first the nasdaq etf posting its best day in a month as the broader climbs above the 8,000 level. the fast money traders joins us next is with me through retirement, i'm just surprised it means in my kitchen. so, that means no breakfast? voya. helping you to and through retirement. >>> welcome back to "the closing bell." let's take a look how we finished the day on wall street. nicely higher. the dow up 259 points. the nasdaq up crossing t

smoke could be seen coming from the tesla property alongside interstate 880 s. of the automall parkway. firefighters arrived and found the car -- cardboard, wheeling machine engulfed in flames. crews were able to confine the damage to a tented recycling area on the edge of the complex . the fire fight was complicated because of nearby power lines. and ever also smart -- sparked a small grass fire next to the tesla parking lot. >> bills are -- bales of cardboard are tightly compacted so they continue to burn. tesla has an excavator that is helping pull these bills apart so we can get the water into and amongst the cardboard. once the fire gets in a bale of cardboard it is pretty hard. needs to be broken apart. >> elon musk tweeted afterwards i was just there, cardboard being prepped for recycling along southern fence line caught fire. appreciate fast response by fremont part fire department -- fire department. that week from elon musk saying production will continue. >>> let's go to sal. you have a lot to talk about. pam was caught in some of the traffic this morn

that's the tesla factory on fire. flames down below. and the smoke could be seen for miles. nbc bay area sky ranger was overhead. at this late hour fire crews and investigators are still on site. tesla ceo elon musk thanking the fremont fire department for its response. nbc bay area's sergio quintana joins us at the tesla factory with the very latest. sergio, what happened? >> reporter: well, it did take firefighters only about 45 minutes to get most of the fire out. but there is still some fires that are smoldering within very tightly packed bails of boxes. in video shot by a factory employee you can see the fire burning near a large tent. according to the fremont fire department the tent covers the factory's cardboard recycling area. >> recycling area and a bailer was on fire, and it was threatening a couple of other out buildings. the situation was complicated because power lines in the area had also caught fire along with the power pole. >> reporter: from nbc bay area sky ranger you can see what appears to be large boxes burning. that was the biggest challenge. crews brou

the big picture is twofold first that tesla will perform better as a private company. investors recognize that and second, i think whether public or private, the value of the story is going to be increasing over time >> gene, when you have reports that the sec is now questioning or probing the company, does that throw any cold water on potential deal making? >> it doesn't. we're not legal experts on the topic. but people that we talked to, we believe that some of the language used is most in question around funding secured is vague enough that there's no legal risk there separately, the means of communication has been well established, that they can use twitter. and last, should they notify nasdaq the answer is absolutely i expect a fine will be levied against tesla, a small fine. below $50,000 is my guess, in terms of not notifying nasdaq about this pending news because it is a black eye for nasdaq if you put all of that together, there's no legal risk of elon musk being exited from the company or going to jail this is a small housekeeping risk in terms of how they com

that's what happened we put the story to tesla. elon musk. reported in our story that musk was aware of the saudi stake. so it wasn't a surprise to him he knew they were a shareholder. but our reaction to the story was, you know, the stock would probably go up but his reaction to come out with a tweet after not commenting when we went to him for comment, that unleashed a chain of events we did not expect >> the nuance, this was a secondary market transaction, so this was not a fund raised by tesla. they took the stake in the open market they built up that stake also this speaks to this idea that elon musk says he has funding secured for a possible buyout of the company. is there an indication that it could be the saudis or a group of other people out there who will pony up that money to take tesla private? >> it's possible cnbc and the ft both reported it looks like nobody on wall street was aware of this. how do you do a mega lbo without wall street being aware. that's a bit of a question that we'll have to resolve in coming days yes. the sa

tesla private. he tweeted in fact today. here is the tweet. considering taking tesla private at 420 bucks per share. funding secured. now it is not actually clear if elon musk is serious or not. as he has made outrageous claims on twitter shall we say before? he followed up this tweet with a smiley face. so interpret that however you want. he then tweeted i don't have a controlling vote now. wouldn't expect any shareholder to have one if we go private. i won't be selling in either scenario. okay. >>> stocks getting a boost from corporate earnings. we have a dow up 164 points. i will follow the markets carefully as we watch the s&p trading higher along with the nasdaq. also coming up, mitch mcconnell is launching his 2020 re-election campaign but is he about to face trouble during this term from none other than fellow republicans. if he doesn't get the votes for the border wall, arizona senate candidate kelly ward says she is done. she will get them and he should be out. she will explain next. well, it's earnings season once again. >>yeah. lot

. >>> there was a fire in fremont at the tesla complex. it won't slow down production of the model three sedan. investigators say a pile of cardboard headed for recycling caught fire last night at about 5:20. the smoke could be seen coming from the tesla property right alongside interstate 880 s. of the automall park. firefighters got there and found cardboard in a baling machine engulfed in flames. crews were able to confine the damage to the tesla factory to a tented recycling area on the edge of the complex. the firefight was complicated because power lines were nearby. and amber also sparked a small fire, a grass fire in a dry field next to the tesla parking lot. >> bales of cardboard are tightly compacted and burn. what has to happen now, we are getting some assistance from tesla, they have an excavator and the excavator is helping pull the spells apart so we can get the water into and amongst the cardboard. once the fire gets in a bill of cardboard it is pretty hard. and needs to be broken apart. >> the tesla ceo elon musk tweeted aft

the business briefing. i'm sally bundock. full speed ahead! tesla surprises the markets with record revenues and a gung—ho production forecast, paving the way for profits in the next quarter. and the best pilots deserve the best equipment. buckle up for a trip to a school for test pilots. and on the financial markets trade worries are firmly back on the agenda with china and hong kong leading the declines. some electrifying results from us car maker tesla. the it delivered more of its model 3 cars in the most recent quarter, helping to boost revenues and setting it on course to be profitable in the next quarter. the company announced record revenue of $4 billion, but it's still operating at a loss. this didn't worry investors though, and here is why — tesla says it will make over 6,000 model 3 cars a week from august, and between 50,000 and 55,000 in the third quarter. this will help prop up tesla's volatile stock price — here's a look at how it's been fairing. and worth noting — it's been the most bet against stock on wall street until now. in afte

i'll buy the whole company back and make tesla private again says c.e.o. mosque in a tweet that sends the electric. eleven percent and leaves analysts shaking their head. and more trouble. as a european pilots go on strike over pay and working conditions at europe's europe's biggest budget outlined five cancellations prolific twenty five thousand passengers on from. this is the business as well tesla says surge by eleven percent before trading was halted later on tuesday for more than an hour it followed the tweet by c.e.o. elon musk saying he plans to take the electric car make a private and secured the funds to do that. if musk can succeed in taking tesla private it would be the largest leveraged buyout in history . musk tweeted on tuesday that he was considering taking tesla private at four hundred twenty dollars a share saying that he'd secured funding ideal at that price would represent a price tag of about seventy two billion dollars he didn't say where the funding was coming from shortly after his tweet musk published a letter to tesla employees on t

reports that the tesla board is lawering up. about very complicated board dynamics. >> even in a normal buyout situation this would be sort of rough because the c.e.o. has a huge amount of carom and new over the company and it's hard o have an arms' length transition. this is worse for two reasons, first, because ealone musk is so central to tesla. if he were to resign or be pushed out, you would imagine the stock price would fall because a lot of people believe he's crucial to their future. a majority of the board members have very close connections to elon musk so it's hard to imagine how they're going to valuate this transaction unbiasedly. we're not seeing any deals right now. it's not clear there's enough funding to make the original deal possible so we may be getting ahead of ourselves a little bit. emily: david, you have an must have na about been revealing that the saudis would be such a big part of this but we're under an administration looking to limit foreign money. how does this affect this big wrinkle? >> the saudis

coming up, jumping on the tesla bandwagon. reports that the saudi wealth fund is taking a seat in the carmaker. tesla climbing to session highs on this is one must tweet that he wants to take the company private. this is bloomberg. ♪ musk tweeting he is considering taking tesla private. tesla now climbing to session highs, trading at 363, gaining 6% at the moment, climbing to session highs. we heard earlier that saudi arabia's other investment fund is said to have a 3% to 5% stake in tesla. that's according to the financial times. elon musk now tweeting that he is considering taking tesla private, the stock spiking. let's start with the saudi arabia point of view. why do they -- why did they want the stake in tesla in the first place? >> i think it fits into two strategies that they public investment fund is pursuing. one, they are trying to increase their investments outside saudi arabia. traditionally, the public predominately invested inside saudi arabia with only a small amount a broad. they are trying to diversify those in

on the east coast. tesla's wild ride. elon musk with just one tweet. buyout bombshells through twitter as he looks to take the company private. the follow up this morning coming up. president trump doubling down economic policies come the second round of chinese tariffs that could affect this month. we will see even faster growth. [inaudible] >> a closer look at the trump economy coming up. the business climate later this hour. features showing the knicks opened this morning with the dow investors up one point. s&p 500 index back down fractionally this morning. across the board yesterday on wall street announced back in s&p 500 are within striking distance of their all-time highs. less than 1%. a bit of a mixed story. 39 points. the dax are lower. asia overnight mixed performance is to show you as you see here. the biggest mover down one and a quarter% overnight in china. ambushed

it is the third stabbing to at the bart station since july. >>> a tesla may have been in self-driving mode slammed into the back of a fire truck. the crash happened around 1:00 a.m. on southbound 101 in san jose just south of bailey avenue. firefighters had just shown up to a crash when they say a black tesla rammed right into one of their parked fire engines. no firefighters were injured but the driver of the tesla was put on a stretcher and a chp officer appeared to give him a sobriety test. the driver and the passenger were transported to the hospital. no word tonight on their conditions. >>> in a tweet, san jose firefighters say it is the second time in recent months that a tesla has rear ended one of their fire trucks. they also say the tesla was reportedly in auto mode. but that the auto breaking system was not engaged. in a statement, the company says "tesla has not yet received any data from the car, but we are working to establish the facts of the incident. >>> one person is dead in a crash near the san mateo bridge this afternoon. it was eastbound highway 92 near the industr

the libra. turkish stocks and bonds extending their decline. tesla ceo elon musk says saudi arabia bought in almost 5% stake in the electric car company and says that can tweak things. netflix says david wells plans to step down after eight years on the job. a time when the streaming service transformed itself into a content powerhouse big enough to rival hollywood. we've got about 30 minutes into the trading day here in new york, and we've got a rally interestingly in u.s. stocks, albeit a modest one. so we are not seeing some of the selling we saw on friday. also continuing today across europe, a little bit of a bounce back in u.s. assets here. we are watching a number of interesting trends including what has been going on with tesla as we did get the added information, a blog post from elon musk that detail the saudi arabia funding. it is still unclear whether his phrase that it would meet the standards. it seems to imply the funding secured was some part of a go private transaction. we're still trying to dig into it. here is the last week's actio

harris who previously called bitcoin a scam says it is about to get a lot worse he will be here and the tesla saga continues and elon musk reportedly going rogue as the company's board is scrambling to keep up, but are they doing enough first, we start off with the retail at record highs and the already hot retail trade is getting hotter as they have a four-day losing streak helping to boost some of the biggest names and check out these in the past month, and macy's up 50% and that's after reporting earnings tomorrow morning and most of them and jcpenney all up double digits. do you keep betting on the consumer is this a good sign for the rest of the market? >> i think it is a good sign and the higher spending that we're seeing from the consumer and the gdp will round the 4% level and a little bit above that, and home depot, if you look at the number, they were spectacular numbers and the reactions that came out later after the call. across the board when you look at what they were able to do and now we'll get into retail, and not just the home builder or something involved in that i think it

. >>> a crash on -- after midnight had firefighters responding when the driver of the tesla slammed into the back of a parked fire engine. authorities claim the tesla was in self-driving mode. in past accidents tesla has said drivers are responsible for paying attention to the road and keeping their hands on the wheel because the car is not fully autonomous. police say the driver was arrested for driving under the influence. he and a passenger were treated for minor injuries. >>> construction is over. the betwetwin peaks tunnel has reopened. it includes new rails which allow the trains to travel up to 10 miles an hour faster through the 2 1/2 mile tunnel. the upgrade also include a seismic retro fit, new drainage and fire safety enhances. >> in high school i used it a lot. i used to go to mission. coming from here, i needed to take the l or whatever, you know, just to get to school. >> what's it like now? >> it's better. i love it. it's great. >> muni will begin running more two-car trains which will hopefully cut down on rush hour crowding. >>> still stunt battling cancer was told about

we'll have the very latest tesla up 7% after hours at the highs. elon musk speaking on the earnings call right now. 'lte's he going to say wel ll you when we come back on "fast." >>> welcome back to "fast money," shares of express scripts volatile in the after-hours session after reporting earnings this after carl icahn is taking aim at the company's merger with cigna. we'll get to our meg terrell with the latest. >> express scripts did report the second-quarter earnings and they look like a non-event when you look at the bombshell dropped by carl icahn. he's reportedly had express scripts $54 billion this being reported by the wall street journal. the journal reporting he may seek to influence other investors and encouraging them to also vote against the deal. reportedly the issue with it is the price was too high it was worth $96 per express script shares. you can also see that express scripts has not traded up to that amount. it's $74 a share right now and about a 20% delta from when the deal was announced in addition to the price issue that ica