Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Tesla (TSLA) reported Q2 deliveries of 254,695, with 4% subject to operating lease accounting, and production of 258,580 vehicles. Tesla delivered 16,162 Model S/X and 238,533 Model 3/Y. The company said, “In the second quarter, we produced over 258,000 vehicles and delivered over 254,000 vehicles, despite ongoing supply chain challenges and factory shutdowns beyond our control. June 2022 was the highest vehicle production month in Tesla’s history.” 2. A consortium backed by KKR (KKR) is emerging as the frontrunner to buy a stake in Deutsche Telekom’s (DTEGY) sprawling wireless tower portfolio, Bloomberg’s Dinesh Nair, Eyk Henning, and Aaron Kirchfeld reported, citing people familiar with the matter. KKR has made an offer in conjunction with Global Infrastructure Partners and Stonepeak, the people said. Their bid is seen as more attractive than a rival proposal from Brookfield Asset Management (BAM) and Spain’s Cellnex Telecom, the sources added. 3. China’s decision to ease its entry requirements for international travelers is a step toward a fuller reopening and away from a zero-COVID strategy. It also signals an eventual reopening of its Macau casinos, Teresa Rivas wrote in this week’s edition of Barron’s. It may be the right time to bet on Las Vegas Sands, the author says. Las Vegas Sands (LVS) gets a little over two-thirds of its business from Macau, with the remainder coming from its Marina Bay Sands property in Singapore. The latter is an underappreciated asset that provides earnings visibility, while the former could see profits jump when Macau more fully reopens, following in the footsteps of Las Vegas and other U.S. cities, where gross gaming revenue has exploded above prepandemic levels, Rivas added. 4. Comcast (CMCSA) subsidiary Universal’s “Minions: The Rise of Gru’ won this weekend’s domestic box office with a $125.2M four-day opening. This includes $107M for the three days. Overseas, the film surpassed $86M on Sunday for a global total of $200M-plus. These numbers make “Minions: The Rise of Gru” debut one of the top starts ever at the domestic box office for an animated movie, not adjusted for inflation. The movie is a sequel to 2015’s “Minions” and the fifth entry in the “Despicable Me” franchise. 5. Activision Blizzard (ATVI), Advance Auto Parts (AAP), AutoZone (AZO), Genuine Parts (GPC) and O’Reilly Automotive (ORLY) saw positive mentions in this week’s edition of Barron’s, while Bed Bath & Beyond (BBBY) was mentioned cautiously.
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