Shifting Gears: Yes, Tesla is as valuable as 2 GMs

Andrew D. Bernstein/NBA Classic/Getty Images

A joyful Friday and welcome to the latest issue of Shifting Gears, Business Insider's guide to all the transportation you missed — or meant to read later — throughout the week. I'm Matt DeBord, senior correspondent, filling in for Graham Rapier, who's probably off trainspotting someplace or taking a nice, relaxing walk.

The coronavirus outbreak dominated aviation news, as airlines grappled with whether they should continue to fly to China. But we also dealt with the tragic California helicopter crash that killed NBA legend Kobe Bryant and his daughter, along with seven passengers including the pilot.

And ... Tesla reported fourth-quarter and full-year 2019 earnings. The year wasn't profitable, but the quarter was a blowout, and Tesla's already superheated stock rocketed higher, minting a market cap bigger that Volkswagens. Tesla is now valued like two GMs.

As always, let us know what else we should be covering — email grapier@businessinsider.com. And if you were forwarded this email or found it on the web, subscribe here.

Let's dive in:

Airlines canceled flights to China as fears of the coronavirus outbreak intensified.

The World Health Organization reversed an earlier decision and reclassified the coronavirus outbreak as a global health emergency as the death toll increased and more cases were identified inside and outside of China.

Airlines responded by canceling flights.

The coronavirus is, according to authorities, less deadly than the seasonal flu. But it's the most aggressive outbreak of a new illness since the SARS outbreak in 2003.

The tragic death of NBA legend Kobe Bryant

NBA legend Kobe Bryant died in a helicopter crash on Sunday, January 25, along with his daughter, Gianna, and seven other people including baseball coach John Altobelli, his wife, Keri, and their daughter, Alyssa, and basketball coach Christina Mauser. Middle school student Payton Chester and his mother, Sarah Chester also died as well as the pilot, Ara Zobayan.

The helicopter was a Sikorsky S-76, a model that's known for its strong safety record.

Tesla crushed earnings and the stock went ballistic.

Tesla beat Wall Street's expectations for both revenue and net income, posting a second straight quarter the black to close out 2019.

The stock price went nuts. Tesla shares had already blasted to historic highs above $500, but the Q4 result put the electric carmaker well past the $600 mark. 

One noted analyst even argued that Musk has become a "quiet assassin"of short-sellers betting against the company.

See Also:

• Boeing's enormous new 777X jet just took its first flight — take a look back at the history of the company's largest twin-jet airplanes
• These 12 airplane interior cabin designs could be the future of air travel, from beds in economy class to an onboard spa
• Delta announced a revolutionary new domestic first class seat, innovating a product that most airlines haven't touched in years