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Stocks rebound as investors shake off Fed fears

Stocks closed slightly higher Thursday with the Dow (^DJI) closing up by 0.67%, while the Nasdaq (^IXIC) ended the day up 0.27% and S&P 500 (^GSPC) closed the day up 0.60%.

Nike (NKE) will report third-quarter earnings after the bell today. Analysts expect to see earnings per share fall to $0.72 from $0.73 a year ago. Analysts also expect to see orders for clothing and shoes for the next five months increase 12%. Nike shares ended the day 0.15% higher at $79.27.

A bill that would prohibit Tesla (TSLA) from selling its cars directly to consumers at mall kiosks has cleared a New York State Assembly committee today. The bill, if made into law, would require Tesla to open storefronts to sell its vehicles to customers. This comes as an Arizona state Senate panel voted to allow the company to bypass a state law that requires cars to be sold through dealerships because it sells electric vehicles. Arizona is in the running to be the home of the car company’s multi-billion-dollar “gigabattery” factory. Just last week, New Jersey adopted rules prohibiting Tesla from selling directly to customers. Shares of Tesla closed the day lower at $234.91.

According at an SEC filing, the chairman and CEO of Time Warner Cable (TWC) Rob Marcus, who assumed that role at the first of the year, is set to receive a severance package worth $79.9 million. The payout, which would happen after Comcast (CMCSA) buys the company, includes $56.5 million in unrestricted stock and unvested options, $20.5 million in cash and a $2.5 million bonus based on TWC’s performance through the merger’s completion. The payout isn’t definite, though. Time Warner Cable shareholders need to approve the Comcast purchase. Also, Marcus’ payout, along with other golden parachutes to Time Warner Cable executives, wouldn’t be awarded if he stays with company after the purchase. Marcus received $10.1 million in 2012 when he was chief operating officer of the company. Time Warner Cable ended the day on an up-note at $138.38, Comcast also ended the day higher at $50.60.

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