Pursuits
Tesla Surges to More Than Fiat Value After First-Ever Profit
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Tesla Motors Inc., the maker of electric cars run by billionaire Elon Musk, surged 24 percent after posting a first profit, beating estimates and earning a top evaluation for its Model S sedan from Consumer Reports.
Tesla reached $69.40 at the close in New York. Its market capitalization totaled $8 billion, exceeding the $7.8 billion for Turin, Italy-based Fiat SpA, the majority owner of Chrysler Group LLC.