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Fastly shares plunge on worries about TikTok (CNN) Fastly   ( FSLY )  shares plunged nearly 30% Thursday morning after the company said that demand from its largest customer — TikTok's owner, ByteDance — "did not meet expectations." In a preliminary third-quarter earnings report, the cloud computing service said it expects quarterly revenue of about $70 million to $71 million, which falls below analyst projections of $73.5 million to $75.5 million. The drop in revenue, the company says, is a result of the uncertainty surrounding President Trump's  TikTok ban . "Due to the impacts of the uncertain geopolitical environment, usage of Fastly's platform by its previously disclosed largest customer did not meet expectations, resulting in a corresponding significant reduction in revenue from this customer," the company wrote. That "disclosed largest customer" is ByteDance, which accounted for 12% of Fastly's sales during the second quarter of 2020

Tesla's back-to-back price cuts bring sticker on U.S. Model S below $70,000 FILE PHOTO: Tesla Model S drives during electric car E-Rallye Baltica 2019 near Iecava, Latvia July 23, 2019. REUTERS/Ints Kalnins/File Photo (Reuters) - Tesla Inc  TSLA.O  will further cut the price of its Model S "Long Range" sedan in the United States to $69,420, the electric carmaker's chief executive, Elon Musk, announced in a tweet  bit.ly/2H0JCP0  on Wednesday. The anticipated drop marks the second time this week Tesla has cut the price for the high-end sedan, following a 4% cut of the Model S’s price in the United States on Tuesday to $71,990. Tesla shares closed 3.3% higher at $461.30 on Wednesday and were little changed after hours. The company also on Tuesday reduced by 3% the price of its Model S in China, where it had previously cut the starting price of its Model 3 sedan. “The gauntlet has been thrown down! The prophecy will be fulfilled. Model S price changes to $69,420 tonight!