Facebook (FB) is getting added attention with the release of details on the Twitter IPO. But Facebook is also making news of its own, announcing a plan to sell advertising over its Instagram photo-sharing service. The social network's stock is up 17% in the last month on a number of upgrades. It has climbed 76% year-to-date as it masters mobile. The company has also staged quite a turnaround since its notorious IPO. Facebook stock is up 29% from its original offering price of $38 a share.
Tesla (TSLA) is up fractionally in early trading. The stock dropped another 4% yesterday because of that video of a Model S sedan up in flames. The tape shows a fireball by the side of a road in Washington State. The driver says he hit metal debris, causing the vehicle to catch fire. That video is the main contributor for an 8% drop in Tesla's stock over the past week. Nevertheless shares remain up 390% since the start of the year.
Now Adobe (ADBE) which is currently down more than 1%. The software giant says hackers have stolen source code to some of its most popular programs including Adobe Acrobat. Also taken: data about millions of customers. Adobe says it discovered the breach about two weeks ago, and so far there's no evidence of any cyber attacks Adobe has been having quite a year up almost 33%.
One of the few companies reporting today is car dealership operator Sonic Automotive (SAH). Analysts are looking for the company to post profits of 50-cents a share. That would be up 25% from a year ago. By the way, Sonic overseas 119-dealerships around the country. Most sell imports and luxury brands. Sonic's stock is up 12% in 2013, rather modest given the boom in auto sales.