Canada, US Hold Constructive Trade Talks as Tariff Negotiations Continue 
US Yen Intervention Unlikely to Deliver Lasting Recovery, Yardeni Says 
Asian Currencies Hold Steady as US Dollar Nears Seven-Week Low Ahead of Key Jobs Data 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
Asian Stocks Cautious Ahead of US Jobs Data as Oil Rises 
Oil Prices Surge as Iran Hormuz Restrictions Renew Supply Fears 
US Dollar Gains as Iran Tensions, Fed Rate Hike Bets Rise 
BOJ Rate Hike Expectations Rise Ahead of September Meeting 
Asian Stocks Slide as Semiconductor Selloff Weighs on South Korea and Japan 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
Asian Stocks Slip as AI Rally Fades, Oil Holds Steady on Iran Peace Deal Hopes 
US Job Growth Seen Picking Up in July 
US Stock Futures Rise as Markets Await July Payrolls Data 
Philippine GDP Growth Slows to 2.3% in Q2 
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data 
US Dollar Falls as Weak July Jobs Report Dents Fed Rate Hike Bets 
Tesla shares dipped 1.3% in extended trading Monday after a Delaware court ruled against Elon Musk’s $56 billion pay package, deeming it excessive and void. The company announced plans to appeal while analysts predict a shift in board strategy.
Court Blocks Musk's $56 Billion Pay Package, Tesla Stock Falls
In extended trading on Monday, Tesla Inc. shares fell following Elon Musk's historic salary package being deemed illegal by a Delaware court, Investing.com reports
Despite a shareholder vote to reinstate the CEO's $56 billion compensation plan, the court determined that he is not entitled to it.
Because it was so much higher than similar corporate compensation requirements, the 2018 pay plan was found excessive according to the court. Musk would have received a substantial number of stock options as part of the package, which was linked to lofty company performance targets.
Tesla Shares Drop as Company Plans to Appeal
In the aftermath of the decision, shares dropped 1.3% to $352.36 in after-hours trading. Bloomberg noted that Tesla has announced its intention to appeal the ruling.
The decision by Delaware Court of Chancery Chancellor Kathaleen McCormick reaffirms her January verdict that found Musk's $56 billion compensation plan excessive and canceled it.
Analysts Predict Revised Compensation Plan for Musk
In order to bring Musk's objectives in line with shareholder priorities, analysts believe the Tesla board may propose a new compensation plan.
In the midst of regulatory headaches, the firm has been fighting off rising local competition and falling demand. The electric vehicle (EV) industry has had its profit margins eroded over the last two years due to the price war that Tesla started.
Musk's Political Influence Could Benefit Tesla
Nevertheless, due to Musk's relationship with President-elect Trump, Tesla is anticipated to gain from his growing influence in Washington. According to analysts, the company's full self-driving and robotaxi ambitions should be able to navigate smoother regulatory channels.
