CNBC.com’s Pippa Stevens brings you the top business news headlines of the day. On today’s show, Phil LeBeau breaks down how airlines call pilots to work as they prepare for a busier summer schedule now that so many Americans are vaccinated. In addition, Brian Schwartz explains his reports on the corporate reaction to the new voting laws that critics say harms the voting rights of people of color.
Disney, Geico and other corporations backed Florida lawmakers now sponsoring restrictive voting laws
Republican lawmakers in Florida who received corporate support from Disney and other major companies during their campaigns now sponsor a number of bills that could restrict access to voting in the key state of the swing .
The Brennan Center for Justice lists three Florida proposals that in their current form would involve electoral restrictions. State lawmakers sponsoring these bills have seen contributions from media giants Disney and Charter, the GEO group’s large prison, insurance company Geico and travel planner Expedia, along with CenturyLink and other massive corporations. CenturyLink was renamed Lumen Technologies in 2020. So far, these companies have remained silent on the issue of voting rights.
A Roth Capital analyst says Tesla shares are worth $ 150, which would mean a 78% discount
Tesla shares are overvalued and only worth $ 150, according to Craig Irwin, a senior research analyst at Roth Capital, who said the electric vehicle maker should do more to justify its nearly $ 700 share price. .
Shares of Tesla closed at $ 691.05 overnight as investors cheered on the electric vehicle maker’s expected deliveries.
But the possibility of Tesla exceeding estimates “is clearly already in the valuation,” Irwin told CNBC’s “Squawk Box Asia” on Tuesday. The company’s valuation of about $ 660 billion is close to the full size of the U.S. and European auto markets, though it’s only a “minor player” overall, the analyst said.
It is made public through the SPAC agreement as the baseball card company enters NFT
Topps, best known for its baseball cards and Bazooka candy line, has agreed to go public through a merger with Mudrick Capital Acquisition Corporation II, a special-purpose acquisition company, which values Topps at $ 1.3 billion. .
Former Disney CEO Michael Eisner will continue to be President of Topps. Mudrick Capital and the funds and accounts managed by Gamco Investors and Wells Capital Management are expected to invest an additional $ 250 million in the SPAC. Private equity firm Madison Dearborn Partners intends to sell most of its property to Topps, but Eisner, The Tornante Company, will turn its entire stake into the new combined company.