4 Consumer Stock Stories for a Thursday Investment Shopping Experience
Tesla Motors Inc. (NASDAQ:TSLA): Closing price $125.61
Chief Executive Elon Musk says his company is surpassing its own goal of building Model S electric sedans at a rate of 400-per-week, as demand and the firm’s production skills increase. Musk commented Wednesday that “We’re above 400 a week at the current manpower, and not trivially above it,” while declining to elaborate too much prior to the release of Tesla’s second-quarter results. The CEO, who is also Tesla’s largest investor, did say that in late 2014 the pace is “going to 800 a week. I’m very confident we’ll get there.” Tesla shares have tripled in value this year, as the popularity of its $69,900 Model S sedan helped bring a first-quarter profit this year, marking the company’s first.
Kroger Co. (NYSE:KR): Closing price $37.79
Kroger’s Central Division announced that it will cease the long-standing practice of doubling the discount on manufacturer coupons, and turn to price slashing as a substitute. Double coupon-ing has been the rule at Kroger stores since the 1980s — customers simply clip a coupon, and at the store Kroger doubles its value. However, the Cincinnati-based grocer, in an exclusive interview with The Indianapolis Star, conceded that the incentive is not generating sufficient interest nowadays, and the company will end the practice at the end of July. In its place, thousands of everyday grocery items will get price cuts. Observers might well wonder if this move has to do with Kroger’s imminent takeover of the huge North Carolina-based Harris-Teeter chain?
General Motors Co. (NYSE:GM): Closing price $36.14
At GM Korea Co., striking employees have scuttled output of hundreds of vehicles in July, while the union and management argue over wages and working conditions. Partial walkouts on Wednesday entered their seventh day at GM’s four assembly plants in South Korea. These operations export some 80 percent of the company’s output, and build roughly 40 percent of all Chevrolets sold worldwide. Since the 4th of July, when the stoppage began, workers have refused overtime work and cranked up the sporadic walkouts, according to GM Korea spokeswoman Jina Hwang.
Caesars Entertainment (NASDAQ:CZR): Closing Price $16.01
The Nevada Gaming Control Board has approved a shakeup of Caesars’ corporate structure to allow it to raise as much as $1.5 billion for pursuing future development. The change will give the company, which runs more than 30 casinos in the United States and in three other countries — as well as eight in Las Vegas — “access to the financial market,” according to Senior Vice President Michael Cohen of Caesars. Cohen also said that the same owners will still be in charge, and that the management will not change. Meanwhile, Caesars is trying to gain approval from Maryland to hold 58 percent of the Horseshoe casino in Baltimore.