Tesla revving to new highs, Splunk soaring on earnings, AstraZeneca buoyed by drug results

Yahoo Finance

Tesla (TSLA) making all-time highs on news of a deal to put hundreds of charging stations at Unicom outlets in China. Electric cars accounted for only 0.2% of all car sales in China during the first half of this year but Tesla and BMW are making substantial bets that's going to change. Obviously this deal will help. Full Humble/Brag/Disclosure: I'm long Tesla and the chart is flirting with me.

Splunk (SPLK): Shares are Up 17% as the data analytics software maker posted a surprise profit of one cent per share, ex items. Guidance was solid but the real story here is the ride these shares have had since tickling $100 level last spring before plummeting more than 60% by the start of Summer. It's easy to start coveting the big gainers in bullish tapes but don't forget the risk. Splunk back from the dead but, wow, bumpy ride.

AstraZeneca (AZN): Shares of the drug maker are higher today on promising news on one of its drugs. A new cancer therapy, MEDI-4736, just entered into a mid-stage study. Of course this being 2014 there's a takeover kicker for any drug company AstraZeneca included. Shares are also getting a lift from reports that Pfizer may have begun discussions for a potential new bid for the company after getting rejected earlier this year. Yes, Virginia, Inversion lives.

More from Investing:

Market at highs belies economic reality: Schiff

The future of the shopping mall is...the shopping mall

Why investors shouldn't ignore geopolitics

 

View Comments (2)