Friday headlines include: Tesla Motors unveiling new features, Microsoft's CEO telling women not to ask for a raise, Family Dollar reporting earnings, Exxon Mobile winning a $1.6 billion judgment, and Darden and Starboard facing off at the company's annual meeting.
Automaker Tesla Motors (TSLA) revealed a new, dual-motor version of its Model S Thursday. The new car has all-wheel drive and also reportedly accelerates faster and adds 10 miles to the car's range. The new vehicles will cost more than the standard Model S, with the top of the line P85D priced at $120,000. Elon Musk, the company's founder and CEO, also unveil a number of improvements to the traditional Model S that will allow the car to change lanes and perform some other functions somewhat autonomously.
The CEO of Microsoft (MSFT) drew criticism Thursday when he said that women should put their faith in the system instead of asking for a raise. “…That's good karma. It will come back,” he said. Women in the U.S. make 77 cents for every dollar that men make. Nadella said later in an email sent to employees and published on the company's website that his answer to the question was “completely wrong.”
Discount retailer Family Dollar (FDO) said Thursday that it earned 30 cents per share in its fourth fiscal quarter, or 73 cents on an adjusted basis. Net sales were $2.61 billion, while same-store sales rose by 0.3 percent, ending a three-quarters streak of declines. The company did not provide forward guidance pending its merger with Dollar Tree (DLTR).
Venezuela was ordered by a World Bank panel to pay Exxon Mobil (XOM) $1.6 billion in compensation for the 2007 nationalization of the country's oil industry. Exxon had sought $10 billion, but a separate World Bank panel capped the case at $6 billion.
Things will come to head today in the dispute between Darden Restaurants (DRI) and activist investor Starboard Value. Darden's annual meeting it scheduled for today and it is expected that Starboard will achieve its stated goal of ousting the company's sitting board of directors.