eBay Inc. (NASDAQ:EBAY): Closing price $54.68
The company is on track to debut its first eBay-branded product in Brazil, becoming the Portuguese version of eBay Fashion. The app will be available both in iOS and Android versions, and users will be permitted to browse and buy from a selection of new, branded, designer, and vintage merchandise. Luis Arjona, operations director in Brazil told the newspaper Folha de São Paulo that the firm’s local corporate entity is presently being established and that eBay is approaching local brands in order to include them in the Brazilian website, which is expected be operational inside of 12 months.
Boston Beer Co. (NYSE: SAM): Closing price $245.48
In a Wednesday report, analyst Judy E. Hong at Goldman Sachs reiterated a Neutral on Boston Beer and raised the price target from $180 to $233. In the report, Goldman Sachs wrote, “We raise our EPS estimates for SAM by 2.6 percent /7.6 percent /13.2 percent in 2013 /2014 /2015 and increase our 12-month price target to $233 from $180. Recent data have shown continued strong growth for Angry Orchard and sustained improvement for its beer portfolio. We now see improved Samuel Adams growth continuing into 2014, an even stronger growth outlook for Angry Orchard and better cost leverage in the out-years. That said, we retain our Neutral rating on SAM and wait for better entry point, as its NTM P/E of 39X even on our revised estimates suggests that valuation is already stretched versus other consumer / retail growth peers.” Shares closed up some 2.8 percent on the day.
Tesla Motors Inc. (NASDAQ:TSLA): Closing price $166.22
Tesla Motors is working to develop a car that can run on “auto-pilot” within the next three years, said Chief Executive Elon Musk, as he joins Google Inc. and competitor carmakers in the race to bring a driverless car into the market. Musk said in an interview with the Financial Times that Tesla’s autonomous car would allow the driver to hand 90 percent of the control of the car over to the vehicle’s computer system, predicting at the time that fully autonomous cars would take longer to develop.
Pandora Media Inc. (NYSE:P): Closing price $25.64
Pandora has won a court order to block a group representing songwriters and music publishers from restricting the number of songs that it licenses to Pandora. United States District Judge Denise Cote in Manhattan said in a Tuesday ruling that Pandora’s five-year license that began Jan. 1, 2011, will not be affected by withdrawals of new-media licensing rights from the repertory of the American Society of Composers, Authors and Publishers. Cote acceded to Pandora’s request for summary judgment, pointing to an earlier consent decree between ASCAP and the United States, commenting that “The language of the consent decree unambiguously requires Ascap to provide Pandora with a license to perform all of the works in its repertory.”
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