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Facebook Adding Instagram Ads; Adobe Dealing with Acrobat Hack; Tesla Back on Course

Hot Stock Minute

Facebook (FB) is getting added attention with the release of details on the Twitter IPO. But Facebook is also making news of its own, announcing a plan to sell advertising over its Instagram photo-sharing service. The social network's stock is up 17% in the last month on a number of upgrades. It has climbed 76% year-to-date as it masters mobile. The company has also staged quite a turnaround since its notorious IPO. Facebook stock is up 29% from its original offering price of $38 a share.

Tesla (TSLA) is up fractionally in early trading. The stock dropped another 4% yesterday because of that video of a Model S sedan up in flames. The tape shows a fireball by the side of a road in Washington State. The driver says he hit metal debris, causing the vehicle to catch fire. That video is the main contributor for an 8% drop in Tesla's stock over the past week. Nevertheless shares remain up 390% since the start of the year.

Now Adobe (ADBE) which is currently down more than 1%. The software giant says hackers have stolen source code to some of its most popular programs including Adobe Acrobat. Also taken: data about millions of customers. Adobe says it discovered the breach about two weeks ago, and so far there's no evidence of any cyber attacks Adobe has been having quite a year up almost 33%.

One of the few companies reporting today is car dealership operator Sonic Automotive (SAH). Analysts are looking for the company to post profits of 50-cents a share. That would be up 25% from a year ago. By the way, Sonic overseas 119-dealerships around the country. Most sell imports and luxury brands. Sonic's stock is up 12% in 2013, rather modest given the boom in auto sales.


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