This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Tesla Recalls Model S Vehicles: Ahead of the Ticker

Stocks in this article: TSLA DISH S CLWR SNE MSFT

NEW YORK ( TheStreet) -- Electric car manufacturer Tesla Motors (TSLA - Get Report) announced a recall of 1,228 2013 Model S vehicles made between May 10 and June 8.

The recall pertains to a defect in the mounting bracket of the rear seat. In a statement on the company's Web site, Tesla CEO Elon Musk said the defect reduces the company's confidence "that the left hand seat back will be properly retained in the event of a crash."

According to Musk, no injuries or complaints have been reported. The problem was not brought to the company's attention by a regulator. Tesla said a plant worker noticed the defect and reported it to managers.

Tesla will contact the owners of the affected vehicles and arrange to pick up the cars to be taken to be fixed, which should take a few hours.

Satellite TV provider Dish Network (DISH - Get Report) missed the deadline for improving its takeover bid for Sprint Nextel (S).

Dish had until 11:59 p.m. on Tuesday to submit a new bid to compete with Japanese mobile operator SoftBank's offer of $21.6 million. Dish said it could not meet the deadline after Sprint made changes to its agreement with SoftBank.

Dish said on Tuesday that it would not enter a new offer and instead would focus on its efforts to buy a stake in Clearwire (CLWR). Sprint itself has attempted a takeover bid for Clearwire. Just last week, Clearwire's board recommended voting against Sprint's offer at an upcoming meeting and encouraged shareholders to accept Dish's instead. Dish has offered $4.40 for each Clearwire share, trumping Sprint's offer of $3.40 a share.

Sprint has filed a lawsuit against Dish and Clearwire as a result.

Sony (SNE - Get Report) has pulled an upgrade to its PlayStation 3 after reports that the update caused the gaming console to stop working once it was installed.

Software update 4.45, which was just released on Tuesday, is said to make the console freeze and its on-screen navigation disappear. The update was intended to allow users to turn trophy notification on and off.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs