|5/05/16 7:38 AM EDT|
Oil is higher this morning for a few different reasons. Wildfires in a Canadian oil town could threaten production and shipments from that area. Also, fighting in Libya could disrupt its oil production. Oil production in the United States has fallen 8% since mid-2015. Tesla (TSLA - Get Report) wants to move up its date to reach the 500,000 cars made milestone from 2020 to 2018, which Tesla calls a 'challening' goal but doable if they get more cash. To get there, Tesla will continue to lose money and doesn't expect to be profitable for a couple more years. Tesla posted a net loss of $282 million, but affirmed its plans to put up to 90,000 new electric cars on the road this yaer. Tesla said it got deposits for 325,000 of the cheaper model 3 vehicles in the first week, beyond what they had expected. AT&T (T - Get Report) is winding down its 15 year partnership with Yahoo (YHOO - Get Report) . AT&T says it has awarded the contract to host its web and mobile portals to Synacor (SYNC - Get Report) , a little known telecom firm outside of the industry. The partnership is ill-timed for Yahoo, which is in talks to sell itself.
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