Investors kick the tires on Tesla, B/E Aerospace soaring, Broadsoft hit hard
Today's Trending Tickers as measured by your Yahoo Finance ticker searches include:
Broadsoft (BSFT) - The computer software company is getting hammered today, down over 20%, after reporting a net loss of $7.5 million in the first quarter. That's compared to a $2.3 million loss in the year ago quarter. In addition to missing estimates, Broadsoft guided both sales and earnings lower for the current period be actually re-affirmed full year guidance. Free management tip: it's best to hold off on the long-term forecasting when you've just peeled of everyone's faces with your tangible results
B/E Aerospace (BEAV) - Shares are climbing more than 10% in early trading thanks to news that the company is "exploring strategic alternatives." That could include putting the business up for sale, spinning-off assets or any other transaction the company can imagine. This is how you do ambiguous optimism on Wall Street. B/E simply hired a banker to shop it around. Anyone who would consider buying them was already aware the company was for sale...B/E is public and M&A is going nuts this year. An acquisition isn't really any more or less likely as a result of this news but it's a nice reminder to shareholders that B/E's board and management has your back.
Tesla (TSLA) - Elon Musk's electric car powerhouse reports first quarter earnings tomorrow and we'll see if a rocky few months in the stock will show in the company's accounting. From sales getting blocked in several states to being part of the general boot-stomping of every momentum stock on earth over the last three months, Tesla shareholders have been getting dragged behind an electric car at high speeds lately. The stock found decent support around $200 a share and I'm long it. On a fundamental basis it's the same company it always has been, the question is whether or not Wall Street is done beating up on hope growth stories.
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