Today’s market saw the three major indices lose a small amount of ground after weeks of strong trading. The S&P 500 finished down 0.37 percent to 1,626.67, Nasdaq fell 0.12 percent to 3,409.17, and the Dow Jones fell 0.15 percent to 15,082.62. Many of the big movers on the market were positive however, and some of the most interesting stocks were Tesla Motors Inc (NASDAQ:TSLA), News Corp (NASDAQ:NWSA), Barnes & Noble, Inc. (NYSE:BKS), JPMorgan Chase & Co. (NYSE:JPM), and Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR).
Post Market News
Tesla Motors Inc (NASDAQ:TSLA): After a phenomenal earnings report delivered after the market closed on Wednesday, May 8, Tesla Motors Inc (NASDAQ:TSLA) shares skyrocketed. On today’s market the firm’s shares rose 14.4 percent on today’s market to finish $69.40. Investors seem resolutely on the side of the company, despite some volatility on today’s market.
At its highest point on today’s market, Tesla Motors Inc (NASDAQ:TSLA) shares were trading at more than $75. So far in 2013, investors have seen the firm’s shares rise by more than 100% percent, and many in the market seem to think the move is justified. We may see 2013 become the year that the electric car grows into a viable business segment.
Whether or not the company can move to a mass market base is its next challenge, though one it likely won’t face publicly for a year or two.
News Corp (NASDAQ:NWSA): Rupert Murdoch’s media conglomerate also delivered its earnings report for the first three months of 2013 after the market closed on Wednesday. On today’s market, the company’s stock rose by 4.49 percent to end the day’s trading at $33.29.
In yesterday’s earnings report, News Corp (NASDAQ:NWSA) revealed that it had earned 36 cent per share in the first three months of 2013 on revenue of $9.54 billion. Those numbers represented an appreciable beat on the revenues expected by the market, though the company’s earnings per share were slightly lower than expectations.
So far in 2013, News Corp (NASDAQ:NWSA) shares have gained more than 30 percent. The market is clearly expecting the media firm to continue growing through 2013, and the primary mechanism of that growth will surely be the firm’s split from its publishing arm later this year.
Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR): Another earnings report bump, Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) shares rose by 27.84 percent to finish the day at $76.04. The bump in today’s market appears to have been related to the company’s raising of guidance for the rest of 2013.
Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) revealed that it had earned 93 cents per share for the first three months of 2013, on revenue of $1 billion. The real upside for the GMCR was the revelation that the company had secured an extension to a contract that the company has with Starbucks. That deal led to the raising of the firm’s guidance on its K cups product, the most important line offered by Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR).
JPMorgan Chase & Co. (NYSE:JPM): The investment bank saw its shares slide 1.45 percent on today’s trading to finish the day at $49.04. The firm’s shares have had a tough time in recent weeks as it seems more and more likely that federal regulators will seek to take action against the company on at least one of many different infractions.
Overall in 2013, shares in JPMorgan Chase & Co. (NYSE:JPM) have not performed too badly. The firm has gained more than 11 percent of its value since the start of 2013, though it has lagged the S&P 500 which has gained 14 percent in the same period. Regulators have not made any move against JPMorgan Chase & Co. (NYSE:JPM), and there is no guarantee that there will be a move on the issue any time soon, but investors are clearly nervous about JPMorgan Chase & Co. (NYSE:JPM).
Barnes & Noble, Inc. (NYSE:BKS): The bookseller will have many happy shareholders after close on today’s market. Shares in Barnes & Noble, Inc. (NYSE:BKS), rose by 24.25 percent today to finish at $22.08. The rise in the company’s shares appears to be descended from a report that suggested that Microsoft Corporation (NASDAQ:MSFT) was looking to acquire the firm’s consumer electronics business.
Barnes & Noble, Inc. (NYSE:BKS) designs and manufactures the Nook tablet, a market that Microsoft Corporation (NASDAQ:MSFT) has recently entered. The bookseller’s tablet business has not been the boon to its bottom line that the Amazon.com (NASDAQ:AMZN) tablet business has been, and shareholders may be happy to rid themselves of the burden of the business.
The report suggested that Microsoft Corporation (NASDAQ:MSFT) would be willing to part with $1 billion for the digital assets of Barnes & Noble, Inc. (NYSE:BKS). It’s not clear whether or not the company has actually made an offer, and whether the book seller is willing to part with the business, but shareholders seem in favor of the move, and that might mean a lot to the firm’s board.
