Tesla Inc.’s stock tumbled Friday and its junk bonds slid to a fresh low after the electric-car maker’s chief accounting officer quit suddenly after about a month in the job and Chief Executive Elon Musk appeared to smoke a joint during a filmed interview.

The stock

TSLA, -6.30%

was down as much as 10% in early trade, trading as low as $252.25. It ended down 6.3% at $263.24, its lowest in five months, and down 15% for the year. The S&P 500

SPX, -0.22%

has gained 7% in the same time frame, while the Dow Jones Industrial Average

DJIA, -0.31%

has advanced about 5%.

Tesla’s 5.300% bonds fell to 84.250 cents on the dollar to yield 8.337%, according to trading platform MarketAxess. On a spread basis, the notes were yielding 541 basis points over Treasurys, a full 50 basis points wider on the day.

The stock took a nose dive after news that Chief Accounting Officer Dave Morton resigned on Sept. 4, less than a month after he joined the company, according to a regulatory filing Friday.

Morton resigned over frustration that Musk ignored his advice during the going-private saga, according to a CNBC report on Friday citing a person familiar with the matter.

YouTube/The Joe Rogan Experience

Elon Musk appeared to smoke marijuana during an interview on ‘The Joe Rogan Experience’ podcast.

“Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations,” Morton is quoted in the filing as having said. “As a result, this caused me to reconsider my future. I want to be clear that I believe strongly in Tesla, its mission, and its future prospects, and I have no disagreements with Tesla’s leadership or its financial reporting.”

Adding to the gloom, the company’s head of human resources, Gaby Toledano will not be returning from a leave of absence she began last month, according to a Bloomberg report.

Morton and Toledano are the latest in a string of Tesla executives who stepped away; in May, Doug Field, Tesla’s senior vice president of engineering, took a leave of absence and eventually didn’t return. Field reportedly moved to Apple Inc., which according to a recent CNBC report has hired large numbers of Tesla employees.

Meanwhile, Musk appeared to smoke marijuana during an interview on “The Joe Rogan Experience” podcast, sparking a range of reactions Friday on the internet.

After Rogan said he was smoking marijuana inside tobacco, the podcast host asked Musk, “You probably can’t because of stockholders, right?”

Musk responded with, “I mean it’s legal, right?” Rogan then said, “It’s totally legal,” and Musk replied, “OK,” and took a drag. Both Rogan and Musk are based in California, which this year became the largest U.S. state to legalize the recreational use of marijuana.

Read now: Elon Musk is more famous than ever, and maybe more dangerous

Musk’s increasingly erratic behavior of late, which includes a notorious going-private tweet that has sparked lawsuits and a regulatory probe, as well as a protracted dispute with a British diver who helped rescue a youth soccer team that was trapped in a cave in Thailand, has raised concerns about his fitness to lead a public company.

Don’t miss: Tesla, Musk hit by lawsuit by short seller Andrew Left

It’s becoming clearer that “Tesla needs to a entertain a major change in the C-Suite,” analysts at Consumer Edge said in a note Friday. Hiring a co-CEO or chief operating officer would lend credibility to the company’s financials, be a steady hand to set the tone, and allow Musk to focus on innovation and product development by relieving him of some of the day-to-day duties, they said.

“The ongoing, effectively self-inflicted public relations crisis is now affecting key personnel within the organization and detracting the market from the fundamentals (which have been improving dramatically through 2Q18),” the analysts said.

Consumer Edge lowered its price target on Tesla stock to $300 from $311, giving a higher weighting to the risk associated with Musk’s stumbles.

Musk’s actions are making it “harder and harder to support Tesla as a company,” Gene Munster of Loup Ventures said in a blog post Friday. Elon is Tesla and his actions directly affect the company, he said.

Munster said he believed the shares have upside, however, and if Tesla can “sell more than 60,000 Model 3s per quarter at a gross margin of 20% or greater, the company will be successful.”

More on Elon Musk

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Les Moonves, the longtime chairman and chief executive of CBS Corp.

CBS, +2.98%

 , is set to resign Monday, according to multiple reports, following new sexual misconduct allegations against him from six additional women.

In a New Yorker expose published Sunday morning, reporter Ronan Farrow — who first detailed allegations of sexual assault and misconduct against Moonves six weeks ago — revealed six more women have accused Moonves of sexual harassment and sexual assault, dating from the 1980s to the early 2000s. Those include claims that Moonves forced them to perform oral sex without their consent, used physical violence and intimidation, and retaliated against them when his advances were rebuffed.

Just a few hours after that report was published, CNN reported that Moonves will step down as soon as Monday as part of a broader settlement for control of CBS. Moonves and Shari Redstone, the controlling owner of CBS, have been locked in bitter litigation for months.

CNN reported that Moonves would resign Monday, and could receive a $100 million payout, but that the company may try to “claw back” some of that if its independent investigation finds evidence he committed sexual misconduct.

However, CBS News later reported that Moonves’ exit package may be withheld entirely, pending the results of the investigation.CBS News also reported Moonves is expected to step down Monday.

In a statement Sunday, Moonves admitted to three of the sexual encounters, but claimed they were consensual. “The appalling accusations in this article are untrue,” Moonves said. “What is true is that I had consensual relations with three of the women some 25 years ago before I came to CBS. And I have never used my position to hinder the advancement or careers of women. In my 40 years of work, I have never before heard of such disturbing accusations.”

CBS shares are down about 5% year to date, compared to the S&P 500’s

SPX, -0.22%

  gain of more than 7%.

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Contrary to previous reports, Alibaba‘s Jack Ma may not done with the company he founded just yet.

On Sunday, The South China Morning Post quoted an Alibaba spokesman saying that a published report by The New York Times declaring that Ma planned to retire was factually inaccurate, and taken out of context. The Times story said that the executive planned to focus on philanthropy in education.

Instead, on Monday Ma is set to unveil his succession plans to groom other executives to eventually take the helm of the company, the SCMP reported. Ma will stay on as executive chairman while the strategy, which will take place over time, is carried out, it added. The announcement is set to coincide with Ma’s 54th birthday.

Ma, who created Alibaba in 1999, is considered China’s richest man, with a net worth of more than $40 billion.

The South China Morning Post’s full report can be found on its website.

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CBS‘ board of directors is near completion of a settlement that would both end its litigation with its controlling shareholder National Amusements — and sever ties with long time CEO Leslie Moonves, according to people familiar with the situation.

The talks are described as fluid, but the parties hope to complete a settlement prior to the start of trading on Monday morning. The settlement talks are reaching their conclusion as new charges of sexual harassment against Moonves were detailed in a New Yorker article released Sunday morning.

Last week CNBC reported that Moonves had been negotiating an exit from CBS that would entitle him to roughly $100 million in severance. Sources now indicate that Moonves would exit the company without any additional compensation, pending the results of an investigation into charges of sexual misconduct detailed in two separate New Yorker articles, as well as any other findings of the investigators employed by CBS’s board.

In a statement released to CNBC, CBS said it took the allegations against Moonves “very seriously. Our Board of Directors is conducting a thorough investigation of these matters, which is ongoing.”

As CNBC previously reported, current COO of CBS Joe Ianniello is expected to take over as CEO on an interim basis. The settlement with CBS controlling shareholder National Amusements would end the litigation between the two parties, result in an expanded and refreshed board of directors at CBS, and prevent NAI from initiating a combination with Viacom for a period of 18 months.

It would not abridge NAI’s rights to vote its control position on any other transaction undertaken by CBS, sources said. While in all negotiations of such complexity there is a possibility they will not reach fruition, the parties were focused on reaching an agreement prior to end of day Sunday.

Correction: The correct spelling of the name of CBS’s COO is Joe Ianniello.

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Marty Schwartz says he has “one lazy student” to thank for his online music career.

Schwartz, who teaches guitar in San Diego, said that in 2005 that student came in for a lesson and for a third straight week couldn’t play the tune he was supposed to be learning.

“I flipped open the camera on my laptop, and I filmed the Jimi Hendrix riff we were working on,” Schwartz, 43, said in an interview. He uploaded the video to a fledgling website called YouTube.

Schwartz soon realized how useful it was to have a site for large video files. When he was laid off from his job as an elementary school music teacher in 2008, YouTube became a place for Schwartz to post custom lessons for students and a way for people to discover him as a teacher.

Ten years later, Schwartz’s main channel — Marty Music — has about 948,000 subscribers. He says his videos average 7 million views a month, earning him hundreds of thousands of dollars a year in advertising revenue, thanks to popular songs from bands like Led Zeppelin, The Beatles, Nirvana and Radiohead.

“While much of YouTube’s most successful content capitalizes on timeliness, Marty’s videos are timeless,” said Kevin Grosch, CEO of Made In Network, which helps manage the Marty Music channel. “People come to Marty to learn how to play their favorite songs, many of which are decades old. They also come to develop their skills as a musician, which is a need that will be around as long as people want to play guitar.”

Entrepreneurs like Schwartz have helped turn YouTube into a multibillion-dollar business, though only Alphabet knows the exact size because the company doesn’t disclose the site’s metrics. Analysts at Nomura Instinet estimated in July that YouTube generate $12.8 billion of revenue in 2017, and the firm expects that number to reach $22 billion by 2020.

Schwartz started playing guitar during his senior year of high school because his friends were getting into it and “obviously girls liked it,” he said. He joined a band a played songs inspired by jam bands like Blues Traveler and Phish.

Halfway though his studies at the College of Santa Fe in New Mexico, Schwartz realized he wanted to be a music major. He got involved with what he calls “corporate bands,” playing nightclubs, events and “all the classic wedding songs.” That helped form the backbone of his online instruction career.

With that money, “I was buying beer for everybody and I bought the first PlayStation for my roommates,” Schwartz said. “But there’s no career path.”

Schwartz moved to Los Angeles after college, eventually landing a job as an elementary school music teacher in Carlsbad, north of San Diego. He also taught music lessons on the side.

After losing his school teaching job, he went home and filmed himself playing the Beatles “Don’t Let me Down.” From there he was hooked. He now uploads videos five days a week and sells custom courses on the side. Ad revenue from his YouTube videos makes up half his pay, he said.

Video-based classes have other advantages. For example, they save him from having to teach the same Led Zeppelin solos over and over again.

“I thought to myself, ‘I’m so sick of teaching ‘Stairway to Heaven,'” he recalled. Now he can send them his YouTube page and say, “Let’s learn something else today,” he said.

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The big business of Frankenfoods

The big business of Frankenfoods

Big food companies are entering the startup game.

In recent years, Chipotle (CMG), Chobani, Land O’Lakes and Pepsico (PEP) have launched accelerator programs designed to help innovative food and beverage startups grow their businesses.

Chipotle’s Aluminaries Project offers a group of startups mentoring from celebrity chef Richard Blais and entrepreneur Kimbal Musk, the brother of Tesla CEO Elon Musk, among others.

Chobani’s Incubator gives each participating startup $25,000, as does Land O’Lakes Dairy Accelerator. Pepsi’s offers $20,000 and a $100,000 grand prize to the winner of the six-month long program.

None of the companies are taking a stake in the startups. All of them say that the programs are a way to help young businesses thrive, and give back to their communities.

That’s not the whole story.

With the accelerator programs, companies are hoping to learn how to keep up with food trends and compete like entrepreneurs.

“The food system is changing very dramatically,” said Peter Bodenheimer, Program Director for food startup accelerator Food-X.

He said that big food brands used to dictate what people ate. Now, young competitors are offering people more choices, and responding more quickly to trends.

“These big companies are getting their lunch eaten by smaller upstarts,” he said. “They’re trying to understand what the market looks like.”

Morningstar analyst R.J. Hottovy added that “a lot of these companies struggle to find growth in this environment.”

“By investing or partnering with some of the startups,” Hottovy said, they may “try to capitalize on trends.”

Thinking like an entrepreneur

Consumer tastes are evolving quickly and companies have to keep up, said Chris Roberts, chief operating officer of dairy foods for Land O’Lakes. Millennial customers in particular, he said, like to experiment with food. That means brands have to constantly think ahead.

“Just because you’re winning today, doesn’t mean you’ll be winning in a year or two,” he said.

Working with startups also gives the company creative solutions to common problems. One example, Roberts said, was trying out a product at farmers markets instead of conducting formal tests.

Another benefit to helping startups grow is that more successful companies mean a bigger market.

“It helps the dairy community in general,” Roberts said, and creates “more demand for the base product, which is milk.” That helps Land O’Lakes shareholders, which include dairy farmers.

Roberts said that working with the first cohort led the company to make two acquisitions: Vermont Creamery, which makes cheese, cream and butter, and feta cheese brand Philia.

Plants, insects and tree sap

Pepsi has also had some time to reflect on the benefits of its program. The company’s North American program, which launched this month, is based on a European accelerator it launched in 2017.

Daniel Grubbs, managing director of the PepsiCo Ventures Group, said that the Pepsi accelerator helps the company figure out what new products consumers are responding to.

“That’s very beneficial for us,” he said.

Last year, eight companies received grants through the European program. The list included a company that makes whipped vegetables, one that sells birch sap and another that sells snacks made out of insects.

Erbology, a British company that sells plant-based snacks, powders and oils, was the winner of the first European accelerator.

Kindred spirits

Chipotle is focusing on companies that develop farming and agriculture tech and find solutions to food waste.

Caitlin Leibert, the company’s sustainability director said Chipotle’s program is philanthropic. “But we’d be remiss to say that investing in the future of food with integrity wouldn’t benefit our company.”

Chobani hopes its program will make more natural food available to more people. And it’s part of CEO Hamdi Ulukaya’s personal mission to help entrepreneurs, said Peter McGuinness, the company’s chief marketing and commercial officer.

Ulukaya is “just a founder entrepreneur wanting to pay it forward,” said McGuinness. The successful Greek yogurt company is only ten years old.

“That’s why we decided to do this no strings attached,” McGuinness said.

Bone broth company Kettle and Fire and Chloe’s Fruit, which makes fruit-based soft serve and popsicles, have gone through Chobani’s incubator. Since then, they’ve eached raised millions of dollars in funding.

McGuiness said Chobani is not worried about any of the startups stealing away its customers.

“We don’t have any yogurt makers in the mix,” he said, adding that the companies are complementary to Chobani’s business. “If anything, we’re kindred spirits.”

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Elon Musk smokes weed during interview

Elon Musk smokes weed during interview

Investors should be focusing on Tesla’s growing sales and ambitious plans to reinvent the American automotive world.

They should be salivating over its exciting plans for semi trucks for big corporate fleets and its alternative energy initiatives. And they should be reassured by analysts’ predictions that Tesla will report a profit in the fourth quarter and a full year of profitability in 2019.

Instead, they are watching CEO Elon Musk smoke a blunt with Joe Rogan.

They’re looking at an easy punchline for comedians, a man who’s become a walking Page Six item.

They’re seeing rapper Azealia Banks’ bizarre Instagram posts alleging that she was in Musk’s house while he tweeted on acid, reading him tearfully talking to the New York Times about his Ambien use and making baseless accusations about a diver in the Thai cave rescue.

It’s an even bigger problem considering the brain drain that’s now going on at Tesla. Chief accounting officer Dave Morton is leaving Tesla after just a month on the job, citing concerns about “the level of public attention placed on the company.”

And in an email to employees Friday, Musk said chief people officer Gaby Toledano was extending her leave of absence to “spend more time with her family and has decided to continue doing so for personal reasons.”

All of this wackiness is taking its toll on Tesla’s (TSLA) stock. Shares fell about 6% Friday. They are now down more than 15% this year and are more than 30% below the all-time high they hit last year.

Tesla's greatest invention is its 'Hype Machine'

Tesla’s greatest invention is its ‘Hype Machine’

The Musk circus is a problem for Wall Street.

“Musk is not going to be conventional. Breaking the mold is part of his PR strategy,” wrote Loup Ventures analyst Gene Munster in a blog post Friday.

Munster added that he suspects Tesla’s board is trying to put controls in place to limit Musk’s outlandish behavior. But he says it’s clear Musk has a different plan. And that’s a big problem.

“At times, Musk appears to be working against himself,” Munster wrote. “At the core, we believe he wants to prove his doubters wrong, but many of his actions strengthen the case against him.”

Musk should delete his Twitter account, stop talking about the Thai rescuer and not use pot in a public setting, Munster said.

Tesla tweet 'highly problematic,' says former SEC boss

Tesla tweet ‘highly problematic,’ says former SEC boss

He may need to do even more than that. To paraphrase George Washington in the hit musical “Hamilton,” Tesla is a powder keg about to explode and Musk needs another person to help him lighten the load. Tesla has to hire a chief operating officer.

Yes, Musk may be difficult to work with. But another company he runs, SpaceX, has a highly regarded COO in Gwynne Shotwell.

Shotwell has worked at SpaceX since 2002 and was one of the firm’s first employees. She was named president and COO in late 2008. So it’s clearly not impossible to get along with Musk for a long period of time in a professional setting.

And you don’t hear stories about how Musk is sleeping at SpaceX. He’s only doing that at Tesla. Maybe if he had someone like Shotwell to help him out, he’d be able to catch a few more zzzs. Tesla investors would certainly sleep a heck of a lot easier too.

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Exclusive: Is Facebook doing enough to stop election meddling?

Exclusive: Is Facebook doing enough to stop election meddling?

Millions of Americans are looking forward to the return of Sunday NFL football this weekend. And somewhere in St. Petersburg, a group of Russian trolls likely is too.

The same Kremlin-linked group that posed as Americans on social media during the 2016 US presidential election has repeatedly exploited the controversy surrounding the NFL and players who have protested police brutality and racial injustice during the National Anthem, playing both sides in an effort to exacerbate divides in American society.

The debate is almost certainly an irresistible one for the Russians, given that it includes issues of race, patriotism, and national identity — topics the Russian trolls sought to exploit during the run-up to the election, and have continued to focus on in the two years since.

CNN worked with researchers at Clemson University that have archived millions of tweets sent by the Internet Research Agency, a Russian troll group that was indicted by Special Counsel Robert Mueller in February. The accounts’ links to Russia were discovered by Twitter, which provided details about them to Congress. The data shows the trolls repeatedly weighing in on the debate, using different accounts to take both sides. While they used some accounts to push petitions to fire the protesting players, they used others to hail them as heroes.

Over the past year, social media networks have identified and removed thousands of accounts tied to the IRA. But despite the tech companies’ efforts, there’s no indication that the group is shying away from the NFL controversy.

There is no question that the debate over the protests is real. But Americans watching the controversy unfold on social media ought to know that not all the outrage on either side is authentic, and not all of it is coming from US shores.

Clemson University researchers and CNN have found instances of accounts linked to Russian trolls by Twitter weighing in on the issue as recently as May of this year.

In March, an account posing as an African-American activist tweeted, “Just a reminder: Colin Kaepernick still doesn’t have a job, because in this country fighting for justice will make you unemployable.”

A group of suspected Russian-linked Facebook accounts posing as American activist groups that were removed from the platform in July had also referenced the controversy.

Darren Linvill, an associate professor at Clemson University who has been studying the Russian group’s behavior with his colleague Patrick Warren, explained that the trolls “don’t slant toward one side or the other in the NFL flag debate, but they do slant very steeply to both extremes,” he said.

“Kaepernick is either a hero fighting a corrupt system or a villain who has betrayed his country. It’s two very simple, divisive story lines told at the same time with the goal of dividing our country rather than adding nuance to an ongoing, important national conversation.”

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Naomi Osaka defeated Serena Williams to capture the 2018 U.S. Open title on Saturday, in a match that will likely be remembered for many reasons.

The 20-year-old Osaka captured her first Grand Slam title with the 6-2, 6-4 win. She also made history, becoming the first Japanese tennis player to win a major title.

Osaka’s win comes against the backdrop of a contentious second set, during which Williams got into several heated arguments with the chair umpire about penalties that ended up costing her a game and a point. Williams was given a warning for illegal coaching, which she vehemently contested. She committed her second violation of the tournament’s code of conduct when she smashed her racquet after losing a game.

A second code violation results in the loss of a point, but Williams disputed the ump’s assertion that her first warning was legitimate, arguing that she wasn’t the type of person who would cheat by illegally communicating with her coach. At least one former tennis pro leapt to her defense on Twitter.

.@espn just showed Serena and coach while he was “coaching”. She wasn’t even looking. Believe what you want.

— Mardy Fish (@MardyFish) September 8, 2018

They all do that guys. Serena said she doesn’t even know what he was doing. I’ll believe Serena. Ur call

— Mardy Fish (@MardyFish) September 8, 2018

Williams continued to demand an apology from the referee, and she ultimately called him a “thief” for unfairly robbing her of a point. He deemed that verbal abuse and charged her with her third code violation, meaning she’d be penalized a game.

“You owe me an apology!”

Serena was fired up with the official in the final set of the US Open final. pic.twitter.com/r6RSbrirnV

— ESPN (@espn) September 8, 2018

Incredulous with that ruling, Williams argued that male tennis players have historically been able to get away with more, and they didn’t lose games as a result of their behavior. Many fans agreed.

they called it “rock and roll tennis” when agassi did it

— Taffy Brodesser-Akner (@taffyakner) September 8, 2018

So many male tennis players – Agassi, McEnroe, Becker, Roddick, Djokovic, etc have gone offff on umpires through the years and a game hasn’t been taken away from them during a GRAND SLAM.

Serena was damn right about how the rules are different for men.

— Kovie Biakolo (@koviebiakolo) September 8, 2018

Double standards are real and female athletes deserve better.

— D.J. Humphries (@74_hump) September 8, 2018

“I’ve seen other men say much worse things, and not get penalized. I’m constantly working for women’s equality, and when he did that, I thought it was sexist.”

“I don’t need to cheat, I’ve won enough”@serenawilliams at the press conference

Read more: https://t.co/bd7uqhzVZw pic.twitter.com/fYECxRuC7Z

— Firstpost Sports (@FirstpostSports) September 8, 2018

The crowd in New York was clearly rooting for Williams to take the match, and fans loudly booed the umpire as well as other tournament officials. This reaction clouded what Osaka likely hoped would be a purely cheerful day, and Williams urged fans to stop booing so that Osaka could enjoy the moment she deserved.

The internet called that pure class.

Class is defined as informal. elegance, grace, or dignity.

See also: Serena Williams after Naomi Osaka’s Grand Slam win. https://t.co/nc0Nsu1h8V https://t.co/MNG0hBa90c

— Dictionary.com (@Dictionarycom) September 8, 2018

Serena passing off the chance to dig into the drama and instead focusing on Osaka.

The epitome of class. Period.

— Marcus Thompson (@ThompsonScribe) September 8, 2018

Fans saw more examples of double standards for women beyond the exchanges between Williams and the chair umpire. One came when Osaka apologized to the crowd for beating the fan favorite and thanked everyone for watching her match.

This match is such a case study in the b.s. women have to deal with: Serena Williams calling out a man for treating women differently and Naomi Osaka feeling like she has to apologize for winning.

The whole thing stinks on hot ice.

— Jen Chaney (@chaneyj) September 8, 2018

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