logo
Tesla Ordered to Pay More Than $200 Million Over Fatal Autopilot Crash

Tesla Ordered to Pay More Than $200 Million Over Fatal Autopilot Crash

Gizmodo2 days ago
A jury in Florida found Tesla partially liable for a fatal 2019 crash involving one of the company's vehicles operating in Autopilot mode. The jury awarded a combined $243 million in punitive and compensatory damages to Tesla, according to The New York Times.
The incident in question occurred in Key Largo, Florida, in 2019. George McGee was behind the wheel of a Tesla Model S and had the company's Autopilot software activated while traveling down a two-lane road at night. As the car drove through the intersection while McGee was searching for his phone, it crashed into the back of a legally parked black SUV at a speed of more than 50 miles per hour. Naibel Benavides, a 22-year-old college student, and her boyfriend, Dillon Angulo, were standing outside the vehicle at the time of impact. Angulo sustained serious injuries from the crash, and Benavides lost her life as a result of the collision.
The Florida jury found that McGee bore 2/3rds of the responsibility for the crash, but Tesla was responsible for 1/3rd of it, as the company's Autopilot software failed to brake while approaching the intersection that it ultimately sped through before initiating the deadly crash.
'Tesla designed Autopilot only for controlled access highways yet deliberately chose not to restrict drivers from using it elsewhere, alongside Elon Musk telling the world Autopilot drove better than humans,' Brett Schreiber, counsel for the plaintiffs, told CNBC.
Tesla denounced the ruling and said that it plans to appeal the decision. 'Today's verdict is wrong and only works to set back automotive safety and jeopardize Tesla's and the entire industry's efforts to develop and implement life-saving technology. We plan to appeal given the substantial errors of law and irregularities at trial,' Tesla said in a statement, per The Times.
Of the many lawsuits brought against Tesla for failures stemming from its autonomous systems, this was the first to go to a jury trial. Tesla has previously settled out of court to avoid trial—a route the company took earlier this year to avoid proceedings related to another 2019 incident in which a Model 3 allegedly failed to avoid a collision with a tractor-trailer.
The ruling, which the judge in the case accepted, comes as Tesla is attempting to ramp up its fully autonomous 'Robotaxi' service, which allows people to request rides from driverless Tesla vehicles. The company's limited launch in Austin, Texas, was plagued by dangerous driving from the Robotaxis. The company started offering the service in San Francisco last month, though the vehicles have a human in the driver's seat.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

First Merchants Second Quarter 2025 Earnings: EPS Beats Expectations, Revenues Lag
First Merchants Second Quarter 2025 Earnings: EPS Beats Expectations, Revenues Lag

Yahoo

time12 minutes ago

  • Yahoo

First Merchants Second Quarter 2025 Earnings: EPS Beats Expectations, Revenues Lag

First Merchants (NASDAQ:FRME) Second Quarter 2025 Results Key Financial Results Revenue: US$158.7m (up 17% from 2Q 2024). Net income: US$56.4m (up 43% from 2Q 2024). Profit margin: 36% (up from 29% in 2Q 2024). The increase in margin was driven by higher revenue. EPS: US$0.98 (up from US$0.68 in 2Q 2024). AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. All figures shown in the chart above are for the trailing 12 month (TTM) period First Merchants EPS Beats Expectations, Revenues Fall Short Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 3.7%. Looking ahead, revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Banks industry in the US. Performance of the American Banks industry. The company's shares are down 6.8% from a week ago. Risk Analysis Before we wrap up, we've discovered 1 warning sign for First Merchants that you should be aware of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Bunge Global SA Just Beat EPS By 134%: Here's What Analysts Think Will Happen Next
Bunge Global SA Just Beat EPS By 134%: Here's What Analysts Think Will Happen Next

Yahoo

time12 minutes ago

  • Yahoo

Bunge Global SA Just Beat EPS By 134%: Here's What Analysts Think Will Happen Next

Bunge Global SA (NYSE:BG) just released its latest quarterly results and things are looking bullish. It was overall a positive result, with revenues beating expectations by 2.8% to hit US$13b. Bunge Global also reported a statutory profit of US$2.61, which was an impressive 134% above what the analysts had forecast. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. After the latest results, the twin analysts covering Bunge Global are now predicting revenues of US$64.1b in 2025. If met, this would reflect a substantial 26% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to rise 6.4% to US$7.33. Before this earnings report, the analysts had been forecasting revenues of US$52.7b and earnings per share (EPS) of US$7.70 in 2025. Although revenue sentiment looks to be improving, the analysts have made a small dip in per-share earnings estimates, perhaps acknowledging the investment required to grow the business. View our latest analysis for Bunge Global The consensus price target was unchanged at US$88.00, suggesting the business is performing roughly in line with expectations, despite some adjustments to profit and revenue forecasts. One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. The analysts are definitely expecting Bunge Global's growth to accelerate, with the forecast 59% annualised growth to the end of 2025 ranking favourably alongside historical growth of 3.9% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 3.2% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Bunge Global is expected to grow much faster than its industry. The Bottom Line The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Bunge Global. Happily, they also upgraded their revenue estimates, and are forecasting them to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates. With that in mind, we wouldn't be too quick to come to a conclusion on Bunge Global. Long-term earnings power is much more important than next year's profits. We have analyst estimates for Bunge Global going out as far as 2026, and you can see them free on our platform here. You still need to take note of risks, for example - Bunge Global has 4 warning signs (and 2 which can't be ignored) we think you should know about. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

Why Starbucks must start delivering big-time
Why Starbucks must start delivering big-time

Yahoo

time12 minutes ago

  • Yahoo

Why Starbucks must start delivering big-time

I have had a checkered history with Starbucks (SBUX). As an analyst during the Howard Schultz CEO era, I would camp out in stores for days studying everything the chain was doing wrong (and right). The stock was always priced for perfection, and I was trying to ensure that clients wouldn't be left holding the bag. My ensuing critical research reports weren't well-received by Starbucks. I still remember Schultz telling me to f*** off at an analyst day. I wasn't amused in the moment by a billionaire's lack of verbal control, but the next morning, I was back to my chipper self. You can't take this stuff personally. More than a decade later, I'm now a journalist with no bones to pick with Starbucks — just one providing context on this important stock. Current Starbucks CEO Brian Niccol is hard to root against. I originally met him at a Taco Bell investor day in New York City, maybe nine years ago. He was a good leader then and a better one today with a successful Chipotle (CMG) turnaround under his belt. The problem is that Starbucks' business isn't yet showing the Niccol magic. You can see the seeds he planted beginning to sprout — service times improving, sales not falling off a cliff, menus streamlining. In the quarter announced this week, the company teased a "wave" of innovation such as protein cold foam coffee, shorter mobile order pickup times, and a potential sale of part of the struggling China business. But again, Niccol's magic beans have barely sprouted green shoots, with Niccol almost one full year into the job. What Starbucks delivered in the quarter: Operating profit margins crashed in every business segment year over year. Overall operating margins plunged 660 basis points from a year ago. US same-store sales fell 2% on the back of a 4% traffic drop. Earnings per share tanked 46% from a year ago. No guidance provided. "Unfortunately, I think there were some choices made before me that really set us back on our ability to create that great customer connection between our barista and customer and provide the type of customer service that the Starbucks brand, frankly, is known for," Niccol told me on Yahoo Finance's Opening Bid (watch above). Some investors are clinging to the positives Niccol noted during the earnings call. They include low double-digit percentage same-store sales growth at college locations, improved transaction trends in the US toward the end of the quarter, and the aforementioned "wave" of menu innovation. Starbucks will also spend $500 million during the next year on increased labor investments — shy of Street whispers of about $1 billion. The company even teased the potential to reach peak operating margins again. But at this point, investors should be questioning when the inflection moment is in Starbucks' business, and what that inflection actually looks like. The turnaround wasn't in the just-completed quarter. It is unlikely to be the current quarter. Then, mix in high tariffs on coffee beans (including a 50% rate on Brazilian imports) and cautious US consumers. The stock has dropped 9% over the past week. But the valuation may still be too caffeinated. Shares trade on a price-to-earnings multiple of 31x forward earnings estimates as investors price in a Niccol-led comeback. That's asking a lot in the economic climate and against the backdrop of competitors like Dutch Bros. (BROS), Luckin (LKNCY), and countless others serving premium coffee. "More questions than answers ahead as investments into the biz stacking up and only some early signs of progress being made so far; we think downside risk is under-appreciated and rate the stock Underperform," Jefferies analyst Andy Barish wrote in a note. I worry Niccol has set the bar too high for short-term results, risking a letdown for hopeful investors if there isn't a clear inflection next quarter. Yahoo Finance's Invest Conference is coming up! Join me and the Yahoo Finance newsroom for our annual Invest conference, taking place in New York City, November 12-13. We just added a couple of new speakers to an already awesome lineup, with more on the way. Learn more about the conference and register today! Trust me, you will want to be in this room ahead of 2026. Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store