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Social media for career advancement, professionals

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Social media can be a welcome distraction from the daily grind of the office, but it can also be a useful tool for advancing your career — if you know how to use it.

That doesn’t just mean listing your resume on LinkedIn and or liking the same interests as your boss on Facebook.

These days, making sure your social media profile looks and sounds professional is just the “first step,” according to social media management platform Hootsuite. But using it to build “a professional brand” could be what sets you apart.

That can be achieved in four simple steps, Hootsuite’s senior director of growth and marketing for Asia Pacific, Roger Graham, told CNBC Make It.

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Airlines aren’t raising prices amid Covid-19 pandemic

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Tesla deliveries to rise 30% to 40% in 2020

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SpaceX founder Elon Musk looks on at a post-launch news conference after the SpaceX Falcon 9 rocket, carrying the Crew Dragon spacecraft, lifted off on an uncrewed test flight to the International Space Station from the Kennedy Space Center in Cape Canaveral, Florida, March 2, 2019.

Mike Blake | Reuters

Tesla CEO Elon Musk offered new delivery predictions for 2020 at the company’s shareholder’s meeting on Tuesday, where the company also detailed a new battery design that it claims will make its cars cheaper to produce.

Musk said he expects vehicle deliveries to increase by 30 to 40 percent over last year, when the company reported deliveries of 367,500 vehicles. The new guidance from Musk implies deliveries of between 477,750 and 514,500 cars, a range that encompasses the company’s previously stated goal to deliver half a million cars in 2020.

“In 2019, we had 50% growth. And I think we’ll do really pretty well in 2020, probably somewhere between 30 to 40 percent growth, despite a lot of very difficult circumstances.”

Musk also said the battery and manufacturing advances Tesla is working on will soon lead to lower prices, which will be vital for getting more electric vehicles on the road. “About 3 years from now, we’re confident we can make a very compelling $25,000 electric vehicle that’s also fully autonomous,” he claimed. Musk is notorious, however, for being overly optimistic with his predictions.

In response to one shareholder’s follow-up question about lowering pricing, Musk acknowledged, “It’s not like Tesla’s profitability is crazy high. Our average profitability for the last four quarters was maybe 1%. It’s not like we’re minting money. Our valuation makes it seem like we are, but we’re not.”

He continued, “We do want to make the price as competitive as we can without losing money. If you keep losing money, you’ll die.”

The company’s shares dropped as much as 7% during the presentation, which took place after normal trading hours.

Battery improvements promised

During the “battery day” portion of the presentation, Tesla confirmed that it has designed and is producing its own battery cells at a facility in Fremont, as part of its quest to make its cars affordable to a mainstream buyer.

In general, the batteries of a Tesla — which contain thousands of cells — are the most expensive part of the car.

Tesla’s senior vice president of powertrain and energy engineering, Drew Baglino, described how the company’s new cells, dubbed “4680,” are larger and simpler to make than the “2470” cylindrical battery cells it purchases from Panasonic and other suppliers today. A Tesla battery pack would require fewer cells with the new shape and design.

Baglino said the larger cells, along with other manufacturing and design changes underway at Tesla, would eventually improve the range of its cars by more than 50%.

Near-term, Tesla says it aims to produce 10 gigawatt hours worth of the new battery cells at its pilot plant within a year. Musk noted that whatever cells it produces in Fremont would be supplemental to 100 gigawatt hours worth of cells it buys from suppliers, and said “To be clear, it will take about a year to reach the 10 gigawatt hour capacity.” 

With its new cells, Tesla is also seeking to reduce or completely avoid the use of some expensive materials used in lithium-ion battery production today, including cobalt. 

Associate Professor in Civil and Environmental Engineering at Carnegie Mellon University, Costa Samaras, said: “If Tesla can make a cheap, reliable battery with little or no cobalt, it will really improve the ability of EVs to scale up. Most cobalt is from the Democratic Republic of Congo and the mining has long generated human rights and child labor concerns.”

On Monday, Musk warned that the advances announced at battery day won’t find their way into mass production until 2021, sending the company’s stock down about 6% ahead of the event on Tuesday.

Due partly to Covid-19 health orders that limit the size of in-person gatherings, Tesla postponed its annual meeting from July this year to Sept. 22, 2020. The company previously held its shareholder meetings at the Computer History Museum in Mountain View, California but moved the event to the parking lot of its U.S. vehicle assembly plant in Fremont. Shareholders parked and sat in their cars at the meeting, which Musk characterized as a “drive-in.” They honked in lieu of applause.

Al Prescott, Tesla’s VP of legal, at the company’s socially distanced 2020 shareholders meeting, as attendees listen in their cars.

Those who wanted to attend had to obtain a winning lottery-style ticket (or other special access) to the meeting. Otherwise, shareholders could log into a website to ask questions to be answered during the live-streamed event.

Cannacord Genuity analyst Jed Dorsheimer wrote in a note to investors before the meeting:

“The big question will be on follow through. It’s one thing to announce all these breakthroughs, which might be great for momentum algorithms, but like most things TSLA, the devil will be in the details, which sadly will take some time to play out.”

Cannacord maintains a “Hold” rating and a price target of $442 on shares of Tesla currently.

Shares of the electric car maker are up more than 400% year-to-date.

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S&P 500 rises for the first time in five days, Amazon up 4%

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The S&P 500 rose slightly on Tuesday, recovering some of the steep losses from the previous session as shares of Big Tech advanced.

The broad-market index traded 0.8% higher and was on pace to post its first gain in five sessions. The Nasdaq Composite advanced 1.3%. The Dow Jones Industrial Average rose 100 points, or 0.4%.

Amazon shares rose 4.9% after a Bernstein analyst upgraded the e-commerce giant to buy from hold, noting the recent pullback offers an attractive “entry point” for investors. Facebook, Apple and Microsoft were also higher.

Traders also digested remarks by Federal Reserve Chairman Jerome Powell, who reiterated the central bank will support the economy “for as long as it takes.”

Sentiment was kept in check, however, after U.K. Prime Minister Boris Johnson announced further restrictions to curb the spread of the virus. He noted the country was at a “perilous turning point” and ordered bars and restaurants to close between 10 p.m. and 5 a.m. The restrictions also expand the list of places requiring people wear a mask. 

“Coronavirus concerns have resurfaced, worrying investors that a reversal in reopening progress could be near,” Lindsey Bell, chief investment strategist for Ally Invest, said in a note. “More and more uncertainty is arising as we get closer to the election but no closer to Congressional fiscal relief. But we’re still optimistic this dip will be bought sooner rather than later.”

The market’s September sell-off intensified on Monday with the Dow suffering its worst day since Sept. 8. The S&P 500 also posted its first four-day losing streak since February.

Those losses were sparked in part by the prospects of further U.S. coronavirus fiscal stimulus becoming bleaker as lawmakers brace for a potentially bitter Supreme Court confirmation fight as President Donald Trump rushes to nominate a successor to Justice Ruth Bader Ginsburg, who died on Friday.

The major averages are on pace for steep losses for September, a typically weak month for stocks. All three major averages had just suffered three straight weeks of losses. The Dow and the S&P 500 have fallen 4.8% and 6.2% this month, respectively, while the Nasdaq has dropped 8.2% as investors dumped high-flying tech giants.

“Market volatility is returning after months of steady advances in risk assets, and we see elevated volatility ahead of the November U.S. election,” Jean Boivin, head of BlackRock Investment Institute, said in a note. “In addition, negotiations of a new U.S. fiscal package are dragging on, the pandemic is still spreading in many countries, and U.S. China tensions are running high.”

Shares of Tesla dropped 4% after CEO Elon Musk said in a tweet that the electric carmaker’s “Battery Day” event would not reach “serious high-volume production” until 2022, which disappointed investors and analysts.

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