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October 27, 2016

Tesla surprises with 3rd-quarter profit

DETROIT (AP) — Electric car maker Tesla Motors posted its first quarterly profit in three years on Wednesday, giving investors reason to cheer after months of doubt.

Tesla's shares have fallen in recent weeks as some investors questioned the company's proposed merger with solar panel maker SolarCity Corp. Earlier this month, Goldman Sachs downgraded Tesla's shares from “buy” to “neutral” and lowered its price target, saying the potential merger could delay the release of the Model 3.


 
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