Tesla Motors Inc., the electric-car company led by Elon Musk, said it has produced its first 50 Model S luxury sedans and will accelerate output on a weekly basis to meet a target of delivering 5,000 this year.
Tesla Motors Inc., the electric-car maker, fell 3.6 percent after a Wunderlich Securities Inc. analyst cut his rating to sell, saying the company probably will reduce third-quarter production of the Model S sedan. The company said it hasn’t altered its production schedule.
MEMC Electronic Materials Inc., the semiconductor wafer maker that’s been unprofitable four of the past five quarters, may be unable to succeed where solar-panel companies such as Abound Solar Inc. and Solyndra LLC have failed, according to Moody’s Investors Service.
First Solar Inc., the largest thin- film panel maker, will cut 30 percent of its workforce, about 2,000 jobs, as demand in Europe slows faster than the company can expand in emerging markets in Asia. The shares surged.