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Analysts polled by Thomson Reuters expected the index to give a final reading of 93 for the month of August. July's reading came in at 93.1.
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Tesla management told employees Monday that the recent layoffs -- which gutted some departments by 20% and even hit high performers -- were largely due to poor financial performance, a source familiar with the matter told TechCrunch. The layoffs were announced to staff just a week before Tesla is scheduled to report its first-quarter earnings. The move comes as Tesla has seen its profit margin narrow over the past several quarters, the result of an EV price war that has persisted for at least a year.
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Jason Fitz and Frank Schwab hop in the lap to concoct the best blockbuster trades possible that are a win-win for both sides. First, the dynamic duo start with the news that Philadelphia Eagles wide receiver Devonta Smith is receiving a big-time contract extension, meaning the Eagles are now paying two wideouts $25M annually. Can they manage to keep up the talent and depth on their roster with cap numbers like that? In other news, the New York Jets announced they're wearing their 1980s throwbacks full-time next season, which makes Frank a very happy man. Fitz and Frank have some fake trades they'd like to see, and they go one-by-one down the list as they send Justin Jefferson to the Buffalo Bills (and Arizona Cardinals), the Minnesota Vikings up to fifth overall, Brandon Aiyuk to the Los Angeles Chargers, Tee Higgins to the Kansas City Chiefs, Dak Prescott to the Minnesota Vikings, Brock Bowers to Kansas City and Micah Parsons to the Atlanta Falcons. The duo finish off the show by snake drafting the best first overall picks of all time.
