Home Business Morning News: Tesla, Apple, Facebook, Outerwall, Alcoa, Tower Group

Morning News: Tesla, Apple, Facebook, Outerwall, Alcoa, Tower Group

When you purchase through our sponsored links, we may earn a commission. By using this website you agree to our T&Cs.

Stocks that are expected to trade actively in U.S. markets on Monday include: Tesla Motors Inc (NASDAQ:TSLA), Outerwall Inc (NASDAQ:OUTR), Alcoa Inc (NYSE:AA), Tower Group International (NASDAQ: TWGP), Apple Inc. (NASDAQ:AAPL) and Facebook Inc (NASDAQ:FB).Morning News Tesla Alcoa outerwall 

Market Levels:

US: DJIA 15072.58 (0.51%), S&P 500  1690.50 (0.71%), NASDAQ    3807.75   (0.89%)

Europe: FTSE 6403.65 (-0.78%), DAX 8516.65    (-1.23%), CAC 40   4112.23   (-1.25%)

Asia-Pacific: NIKKEI 13853.32 (-1.22%), SHANGHAI 2174.67 (0.68%), HSI      22973.95 (-0.71%), ASX 200 5161.11   (-0.90%), KOSPI 1994.42 (-0.13%).

Commodities: OIL 102.84 (-0.96%), NAT GAS    3.538 (0.91%), Gold 1310.80 (0.07%), Silver 21.71 (-0.19%), Wheat 689.25 (0.33%), Corn 443.50 (0.06%).

Currency: EUR/USD 1.3585  (0.21%), USD/JPY 96.93 (-0.54%), GBP/USD     1.6039 (0.14%).

10-year US Treasury: 2.623 (0%).

Market and Economic News Update:

US markets look weak: US S&P 500 E-mini futures were down 1 percent in early Monday morning, indicating a weak open for U.S. stocks later in the day. S&P E-mini futures plummeted 18 points or 1.07 percent to 1666.75 in electronic trading early on Monday, which indicates a decline in stock prices on Monday markets’ opening. U.S. Equity markets have been reeling under pressure for quite some time now and the indices are unstable due to the approaching October 17th deadline for federal borrowing limits.

European markets down: European markets dropped on Monday following the delay in resolving the United States government differences over the federal budget and debt. The FTS Eurofirst 300 index of pan-European shares plummeted 0.5 percent to 1,237.38 points while the euro zone Euro STOXX 50 shed 0.7 percent to 2,907.28 points. Experts are estimating that there could be a consensus over the issue soon, but the market will remain volatile in the short term. The Euro STOXX 50 needs to gain just one percent to hit a two-year high but has remained stable due to the government shut down in the United States and political turmoil in Italy.

Asian stocks also down due to U.S. shutdown: Nikkei stocks declined to a one month low impacted by the United States shut down, which has confused investors. The Nikkei tumbled 1.2 percent to 13,853.32 after touching 13,841.93, the lowest level since Sept. 6. The index fell for a fourth day. Companies like Toyota Motor Corp are reeling under pressure. The Hang Seng Index also dropped 0.7 percent at 22,974 points, continuing the downfall from Friday. The China Enterprises Index of the top Chinese listings in Hong Kong tumbled 0.9 percent.

Stocks in News:

Outerwall Inc (NASDAQ:OUTR)

Outerwall Inc (NASDAQ:OUTR), a chain store of DVD rental kiosks, witnessed a surge of more than 8 percent in after hours trading over the weekend, after the revelation of a major stake held by Jana partners LLC in Outerwall. The stock climbed 8.84 percent to $62.15 in after hours trading session. Jana holds 13.5 percent stake in Outerwall now and will consider a strategic alternatives such as sales.

Tesla Motors Inc (NASDAQ:TSLA)

Tesla Motors Inc (NASDAQ:TSLA) stock declined by almost 5 percent owing to the fire incident of Model S in Washington state earlier this week. However, the stock revived by almost 4.4 percent on Friday trading session when CEO Elon Musk released a statement about the incident and mentioned that the safety features and designs of the car did not let the fire in the compartment.

Alcoa Inc (NYSE:AA)

Alcoa Inc (NYSE:AA) received a cut from JP Morgan for its third quarter earnings estimate from $0.12 per share to $0.05 per share. Stocks of the company surged 0.50 percent to $8.00 in the after-hours trading session. Analysts, on an average, are estimating Alcoa to post earnings of $0.06 per share and revenue of $5.72 billion for the coming third quarter.

Tower Group International (NASDAQ: TWGP)

Tower Group International (NASDAQ: TWGP) is estimated to post a third quarter loss of $1.04 per share on revenue of $428.87 million. Stock of Tower Group came down 2.36 percent to $7.45 per share in after-hours trading. Levi & Korsinsky, LLP recently announced a Class Action against Tower Group and Its Board of Directors and a Lead Plaintiff Deadline of October 21, 2013

Apple Inc. (NASDAQ:AAPL)

Analysts at Jefferies have upgraded ratings on Apple Inc. (NASDAQ:AAPL) from Hold to Buy, and have also raised the price target from $425 to $600. Apple’s stock surged 0.01 percent to $483.08 in after- hours trading.

Facebook Inc (NASDAQ:FB) 

Facebook Inc (NASDAQ:FB) stock rose 3.78 percent on Friday owing to an announcement made by the company where it stated that it plans to introduce advertisements over its Instagram service. Facebook’s shares declined 0.06 percent to $51.01 in after-hours trading.

Our Editorial Standards

At ValueWalk, we’re committed to providing accurate, research-backed information. Our editors go above and beyond to ensure our content is trustworthy and transparent.

Aman Jain
Personal Finance Writer

Want Financial Guidance Sent Straight to You?

  • Pop your email in the box, and you'll receive bi-weekly emails from ValueWalk.
  • We never send spam — only the latest financial news and guides to help you take charge of your financial future.