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LATE MOVERS: Tesla shares slip after news of $35,000 Model 3’s launch

Also on the move are Booking Holdings, Box Inc, Bristol-Myers Squibb, Celgene, Gap, HP and Nordstrom
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Elon Musk dropped a hint via Twitter that Tesla news was imminent

Tesla Inc (NASDAQ:TSLA) dipped in after-hours trading after electrek reported that the company is launching the long-promised standard Model 3 with a base price of $35,000. CEO Elon Musk dropped a hint this week via Twitter that news was coming. The Securities and Exchange Commission has asked a judge to hold Musk in contempt for violating a settlement requiring him to obtain company approval before communicating with investors.

The stock slipped 0.9% to $317 in extended trading before being halted.

Gap Inc (NYSE:GPS) surged after announcing plans to spin off OId Navy. A yet-to-be-named company will include Gap, Athleta, Banana Republic, Intermix and Hill City.

The stock increased 18% to $30 in Thursday’s after-hours trading.

Nordstrom Inc (NYSE:JWN) rallied in extended trading after delivering a 2019 outlook that exceeded the Wall Street outlook. The retailer projected earnings per diluted share of $3.65 to $3.90. The average forecast of analysts was $3.67.

The stock advanced 5.3% to $49.80 in extended trading.

Monster Beverage Corp (NASDAQ:MNST) was the best performer on the Nasdaq after posting fourth-quarter results that beat the estimates of Wall Street analysts. For the period, the energy drink company reported net income of $0.43 per diluted share on net sales of $924.2 million. The average forecast of analyst was for net income of $0.40 on net sales of $898.73 million.

The shares of Monster climbed 8.7% to $63.83 in Nasdaq trading.

Booking Holdings Inc (NASDAQ:BKNG) sank after the online travel agent delivered a disappointing first-quarter outlook. The company gave a year-over-year revenue projection ranging from a 1% decline to a 1% gain.

The stock dropped 11% to $1,697.04.

Celgene Corp (NASDAQ:CELG) fell as it emerged that the investment firm Wellington Management Co did not support the proposed Bristol-Myers Squibb Co (NYSE:BMY) acquisition of the biotech company, throwing the takeover into doubt. Wellington, which holds 7.7% of Bristol's shares, said it did not believe the Celgene transaction is an "attractive path" for broadening Bristol-Myers’s business. Last month, Bristol-Myers Squibb announced plans to buy the cancer drug company in a cash-and-paper deal valued at $74 billion.

Celgene shares fell 8.7% to $83.12. Bristol-Myers Squibb climbed 1.4% to $51.66.

Box Inc (NYSE:BOX) saw shares tank after the cloud-storage company's outlook fell short of Wall Street expectations. The Redwood City, California-based company said it now expects an adjusted loss of $0.05 to $0.06 per share on revenue of $161 million to $162 million in the first quarter. Analysts had forecast a loss of $0.01 per share on revenue of $169.7 million for the first quarter.

The stock was down 18.7% to $20.24.

HP Inc (NYSE:HPQ) sank as the company posted quarterly revenue that fell short of Wall Street estimates because of weaker-than-expected sales in the personal computer and printing businesses.

The shares were down 18% to $19.66.

–Updates share prices–

Contact Dennis Fitzgerald at [email protected]


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