Twitter (TWTR) is up fractionally at this hour on the NYSE. The stock ended yesterday's regular session at $44.90 up almost 73% from the offering price of $26. The high for the day was $50.09. Overall the IPO went smoothly with nearly 118-million shares trading hands. At this point, Twitter has a market cap of $24.5-billion.
Sprouts (SFM) has been down nearly 5% since reporting earnings after yesterday's close. This is despite beating estimates with 13-cents a share when analysts were looking for 10-cents. Sales also exceeded estimates. So, what's driving the stock down? The company says it wants to sell up to 225-million new shares, diluting the value of current ones. Prior to this morning's drop, shares are up 16% since the company went public in August. By the way, larger competitor Whole Foods Market (WFM) fell 11% yesterday on its earnings, but is still up 25% year-to-date.
Tesla (TSLA) can't seem to stop skidding, down again this morning. The stock dropped more than 7% yesterday. It has lost 21% over the last two days. It comes on reports of another fire in a Model S sedan. There have now been three Tesla fires in the last six weeks.
The Gap (GPS) is up nearly 8% ahead of the bell. The clothing giant reported a 4% increase in same-stores sales for October. It also gave third-quarter sales guidance of 70-cents or 71-cents a share. Estimates had been for 66-cents. The Gap goes into today's trading session up 20% year-to-date. Compare that to Abercrombie & Fitch (ANF) which is down 31% in the same time, 14% of that came in the last two days.
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