The S&P 500 ends a five-day record setting run after falling 0.4% to 1,626. The major economic news of the day came from the Labor Department reporting weekly jobless claims hit a new 5-year low last week, falling to 323,000.
Tesla (TSLA) electrified Wall Street today. Shares soared 28% hitting a new record high. Consumer Reports has given the company's Model S sedan a score of 99 out of 100. The magazine says the car will have bugs because it is so new, but still deserves the highest score of any vehicle tested. The rating comes just hours after Tesla reported its quarterly earnings. Tesla recently revealed they'd be posting a profit for the first time ever. But a new leasing program has juiced interest in the Model S beyond expectations.
Green Mountain Coffee Roasters (GMCR) piqued the interest of investors, climbing 28% in response to its earnings report. Not only did the company easily beat estimates for net income, it also announced a new 5-year deal with Starbucks (SBUX). Under the agreement, Green Mountain will triple the number of Starbucks offerings in its popular K-Cups line.
Groupon (GRPN) rose over 10% on its earnings. Excluding items, the company met expectations for 3-cents a share and beat on revenue. Both were an improvement from a year ago. The report was the first one since company founder Andrew Mason was ousted as CEO back in February. Until now the stock has been pretty quiet, climbing just 3% over the past 3-months.
Barnes and Noble (BKS) may be ready for a new chapter, and not one involving bankruptcy. Shares rose 24% after TechCrunch reported the company is considering an offer from Microsoft to buy its Nook division for $1 billion. Microsoft already owns a 17% stake in the unit. TechCrunch also reports that Barnes and Noble to discontinue its Android-based tablet business next year and shift its content to an app which would be available on other tablets.
Monster Beverage (MNST) spooked investors today dropping more than 5%. Monster missed on both earnings and revenues when it released quarterly earnings after yesterday's closing bell. The company says its operating expenses rose as it terminated contracts with distributors. Monster has been under fire along with other makers of drinks. U.S. health regulators are investigating five deaths with possible links to Monster beverages.