Breaking News

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Electric vehicle maker Tesla (TSLA) sold 83,135 China-made vehicles in wholesale in September, smashing its record of monthly sales in China, Reuters' Krystal Hu and Anirudh Saligrama say, citing a report released on Sunday by the China Passenger Car Association. The number marks an 8% increase from August and outpaced the more than the 5% month-over-month growth of all wholesale electric vehicle sales in China, according to CPCA data. It set a new record for Tesla's Shanghai factory since production began in December 2019, and topped the prior sales record of 78,906 in June, as the U.S. carmaker continues to invest in China production, the authors note. 2. The Pentagon said deliveries can resume for Lockheed Martin's (LMT) F-35 jet under a waiver allowing Chinese-origin alloy to go into an engine part, Reuters's Mike Stone reports. The waiver, signed Oct. 8 by William LaPlante, the Pentagon's chief weapons buyer, allows an alloy in the engine's lubricant pump that does not comply with U.S. procurement laws. Those bar unauthorized Chinese content in the jet, the author notes. 3. Newly announced gene sequencers from Illumina (ILMN) are just what the doctor ordered for the company's stock, which has lost 60% since mid-2021 as investors fretted about circling rivals and Illumina's costly purchase of the cancer tester Grail, Bill Alpert writes in this week's edition of Barron's. Biotech's fall from favor had Illumina's shares below $184 by September's end, when the company gathered customers in its hometown of San Diego, where the real star was a new sequencer three times faster than Illumina's current top model, the author notes. The news has lifted Illumina's stock to $213, as analysts estimate how a two-thirds reduction in sequencing costs might expand the market. 4. Paramount's (PARA) horror movie "Smile" won the weekend at the North America box office with another $17.6M debut from 3,659 locations. Overseas, the movie earned $17.5M from 61 markets for a foreign total of $40M and a global tally of $88.9M. The film tells the story of a therapist who meets a graduate student who recently witnesses a gruesome suicide. Jessie T. Usher Kyle Gallner, Robin Weigert and Kal Penn co-star. 5. Madison Square Garden Sports (MSGS), Citizens Financial (CFG), Fifth Third Bancorp (FITB), Huntington Bancshares (HBAN), and M&T Bank (MTB) saw positive mentions in this week's edition of Barron's.