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 Shares of Tesla Inc. rallied 1.9% in premarket trade Wednesday, putting them on track for a fourth-straight gain, after the electric car maker disclosed that Chief Executive Elon Musk plans to buy $20 million worth of newly issued Tesla common stock during the next open trading window at market prices. Based on Tuesday's stock closing price of $276.59, Musk could buy about 72,300 shares. Separately, Tesla said a U.S. District Court approved the terms of a settlement, in connection with action taken by the Securities and Exchange Commission relating to Musk's take-private proposal. "As part of the settlement, there will be no restriction on Elon's ability to continue to serve as Tesla's CEO and there will also be no restriction on Elon's ability to serve as a director on Tesla's Board of Directors," the company said in a statement. Also included in the settlement, Tesla and Musk will each pay a civil penalty of $20 million, Musk will resign as chairman and two additional independent directors will be appointed to Tesla's board. Tesla's stock has lost 14.3% over the past three months through Tuesday, while the Dow Jones Industrial Average has gained 2.7%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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 Danske Bank , reeling from a money laundering scandal, will resume its search for a new chief executive after a Danish regulator rejected its internal candidate for the job, and analysts said it would be forced to look outside the bank.
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