Stocks Buzz: Tesla Motors Inc (NASDAQ:TSLA), Groupon Inc (NASDAQ:GRPN), Zynga Inc (NASDAQ:ZNGA)
Lakeway, NY — (Market News Call) — 10/07/2013 — Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on Tesla Motors Inc (NASDAQ:TSLA), Groupon Inc (NASDAQ:GRPN), Zynga Inc(NASDAQ:ZNGA).
Tesla Motors Inc (NASDAQ:TSLA) shares continued to rebound and surged another 2.14% to $185. The stock has been showing high volatility over the past one week and saw the stock falling from $192 to $170 in three trading sessions after the news broke out about the fire in the company’s Model S Battery Car. However, the stock has rebounded 10% since then. This morning, an analyst at Jefferies boosted its price target on the stock to $210 following the EV automaker successfully navigated around questions on safety last week following a single report of a Model S fire. The firm expects TSLA to deliver 5.5K units in Q3, up from a prior estimate of 5.35K.
On August 19, 2013, Tesla issued a press release touting its Model S as having achieved the “best safety rating of any car ever tested” by the National Highway Traffic Safety Administration. Then on October 2, 2013, an analyst downgraded Tesla due to “execution risk.” That same day, a Model S burst into flames following a purported collision, with reports indicating that the fire originated in the car’s battery.
Additionally, Elon Musk, the chief executive of Tesla Motors Inc on Oct. 4 defended the safety performance of electric cars on Friday, three days after a battery fire in a Tesla Model S helped sparked a decline in the automaker’s market value. “For consumers concerned about fire risk, there should be absolutely zero doubt that it is safer to power a car with a battery” than a conventional gas-powered vehicle, Musk said in a blog post on Tesla’s website.
Groupon Inc (NASDAQ:GRPN) stock declined 1.66% to $11.27. The company on Oct. 3 announced the appointment of four new executives: Robbie Schwietzer to Senior Vice President of Operations, Lisa Kennedy to Vice President, General Manager, of Groupon Reserve, David Kerr, Vice President, General Manager, of Home Services, and Hoke Horne, Vice President of Global Commercial Finance.
Additionally, Groupon and City Harvest, the world’s first food rescue organization, are partnering to present the One Groupon, One Meal campaign set to launch Sept. 23, and run through Sept. 29. Every time a subscriber purchases a Groupon from the food and drink offerings in New York City, Long Island or Westchester County, Groupon will donate the cost of one meal to City Harvest.
Zynga Inc(NASDAQ:ZNGA) shares declined 2.13% to $3.67. The company on Sept. 30 settled a lawsuit against the maker of “Bang With Friends,” a casual sex Internet application, alleging infringement of Zynga’s trademark for its “with friends” family of games. Lawyers for the two companies asked a federal judge to dismiss the case in light of the settlement, according to a filing today in federal court in San Francisco.
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Tags: Groupon Inc (NASDAQ:GRPN), Tesla Motors Inc (NASDAQ:TSLA), Zynga Inc (NASDAQ:ZNGA)