Model S Deliveries in the Slow Lane
Tesla Motors reported strong earnings, but implied there will be no growth in the current quarter. Sales also missed expectations as deliveries of its Model S car lagged projections. TSLA skids lower by more than 10 percent before the opening bell on my tradeMONSTER platform.
Mindspeed Surges on Takeover Premium
Mindspeed Technologies agreed to be acquired by M/A-Com Technology for $272 million in cash, or $5.05 a share. The deal is expected to be accretive next year. MSPD, which closed at $2.97 yesterday, rallies 69 percent on the news.
Curis Hammered After Patient Death
Curis reported a quarterly loss of $0.02 a share, wider than the $0.01 loss expected by analysts. But the real news is that the Food and Drug Administration placed a partial hold on a Phase 1 study of its CUDC-427 cancer compound after a patient died of liver failure. CRIS tanks 18 percent in the premarket.
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