Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Tesla (TSLA) CEO Elon Musk has announced in a blog post that his company will remain public. The post reads in part, “Given the feedback I’ve received, it’s apparent that most of Tesla’s existing shareholders believe we are better off as a public company…I knew the process of going private would be challenging, but it’s clear that it would be even more time-consuming and distracting than initially anticipated…After considering all of these factors, I met with Tesla’s Board of Directors yesterday and let them know that I believe the better path is for Tesla to remain public. The Board indicated that they agree.” 2. In a tweet over the weekend, President Donald Trump said: “Our relationship with Mexico is getting closer by the hour. Some really good people within both the new and old government, and all working closely together….A big Trade Agreement with Mexico could be happening soon!” Meanwhile, citing Mexican Economy Minister Ildefonso Guajardo, Reuters reported that U.S. and Mexican trade negotiators may be “hours” away from squaring away bilateral differences on the North American Free Trade Agreement but work with Canada is likely to stretch into September. 3. The cloud is the future of videogaming, and it could arrive sooner than many players expect, Jack Hough wrote in this week’s edition of Barron’s. Once pricey hardware is no longer necessary and top-tier games can run on two-year-old smartphones, even casual gamers will become candidates for the latest releases from Electronic Arts (EA), he added. But just as streaming could turbocharge growth for game makers like EA and Activision Blizzard (ATVI), it could also present challenges for hardware players like Nvidia (NVDA), Microsoft (MSFT) and Sony (SNE), the report noted. 4. AT&T (T) subsidiary Warner Bros’ “Crazy Rich Asians” led the weekend’s box office again with $25M in its second outing, almost as much as the movie earned in its debut. “Crazy Rich Asians” earned an A CinemaScore and sports a 92% Rotten Tomatoes score. 5. GlaxoSmithKline (GSK) and Tencent (TCEHY) saw positive mentions in Barron’s, while L Brands (LB) was mentioned cautiously.
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