Here are some stocks the Yahoo Finance team will be watching for you today.
Homebuilder Lennar (LEN) reported better-than-expected quarterly results on a surge in deliveries and home-selling prices. Earnings beat Wall Street estimates by $0.07 a share. Revenue jumped 38%. The company believes the housing market is in the early stages of recovery and Lennar is optimistic it will continue to see growth in market share and profitability.
An Arizona state Senate panel voted yesterday to allow Tesla (TSLA) to sell its cars directly to customers instead of going through a dealer as state law now requires. If passed, the bill would allow companies that only make electric cars to sell directly to customers. Arizona is one of four states currently in the running for Tesla's multi-billion-dollar "gigabattery" factory. Tesla has faced resistance from other states on direct-selling. New Jersey last week adopted new rules that prohibit Tesla's direct-sales model.
We’re also watching GlaxoSmithKline (GSK) after the company said an experimental cancer vaccine failed for a second time. The latest results were from a lung cancer trial. The drug also suffered a similar setback last year in treating melanoma. Glaxo said the company will continue to see if it can identify a sub-group of patients in which the drug will be effective.
And finally, we're watching Starbucks (SBUX) today after yesterday's big announcement at the company's annual meeting that it will partner with Oprah Winfrey to sell Teavana Oprah Chai Tea. This is the first time Winfrey has lent her name to a brand. Winfrey helped create the tea, which will be sold at Starbucks and Teavana store locations beginning April 29. All proceeds from the tea sales will go toward youth education. Starbucks also announced at the meeting that it will expand its evening menu at some stores to include alcohol.
In the corresponding video, Yahoo Finance Editor-in-Chief Aaron Task talks with Lauren Lyster about the Starbucks-Winfrey partnership. Task said that Winfrey hasn’t had a lot of huge successes lately, so it makes sense that she would be lending her name to a product. It’s another revenue stream for Winfrey and it keeps her name in the media. Task called the tea venture a smart partnership by two very solid brands. “I think they have similar ethos,” said Task. “And so it makes sense on that level.”
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- Oprah Winfrey