Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today. Tesla (TSLA) said it is offering $1.6 billion in convertible senior notes in an underwritten registered public offering. The company plans to use the money to fund its "gigafactory" and the development of its "Gen III" mass-market vehicle. The company also revealed details on its plans for the new battery factory, saying the "gigafactory" would cost as much as $5 billion and enable the company to sell as many as half a million cars a year. So far this year, shares of Tesla have gone straight up, gaining nearly 70%.
Chinese search engine Baidu (BIDU) said yesterday profits slipped, but revenue beat expectations and the company said it sees better-than-expected revenue growth in the current quarter, well above Wall Street expectations. The company is also expanding its mobile products as it tries to grab more of the massive and rapidly-growing pool of Chinese Internet users. Baidu shares have nearly doubled in the last year, up more than 90%.
Best Buy (BBY) shares are jumping in pre-market trading after the company beat earnings estimates handily. Earnings-per-share came in $0.23 above Wall Street estimates. Revenue missed estimates and same store sales declined 1.2%. The company said it expects revenue and same-store sales to remain "slightly negative" in the first half of the year due to industry declines in consumer electronics. Best Buy shares are down 35% so far this year.
J.C. Penney (JCP) may be about to pull off something many customers and market-watchers didn't think they'd be able to do: survive. The company shares surged in the pre-market. They were up more than 20%. After the close yesterday, the struggling retailer was the most actively traded stock on the news that the company posted a smaller loss than Wall Street was expecting and same store sales were up 2% over last year. For the quarter, J.C. Penney's per-share loss beat estimates by $0.17. Revenue did miss estimates slightly, but CEO Myron Ullman said the most difficult part of the turnaround is over and he expects that turnaround to be complete by the end of the year.
- Investment & Company Information