Tesla Motors and Sears Holdings Among Top Stock Price Performers Today
On a positive day for Wall Street on Tuesday, here are 3 of the biggest stock price performers and why they made bid moves today:
An integrated company that will have a leading role in the North American energy infrastructure sector has been created by an agreement to allow Pembina Pipeline Corporation to acquire all of the issued and outstanding common shares of Provident Energy Ltd (NYSE:PVX). This is accomplished by way of a plan of arrangement under the Business Corporations Act (Alberta). Having traded in a 52-week range of $6.90 to $10.05 shares closed at $11.34, up $2.03, or 21.8%.
Goldman upgrades shares of Tesla Motors Inc (NASDAQ:TSLA) to Buy from Neutral, and that they are ripe for a buying opportunity after Friday’s stock rout following the departure of two senior engineers, saying that Friday’s selloff was overdone. In the same sentiment, J.P. Morgan believes “the Model S is too far along in its development for these events to cause any major delay/quality issues.” Tesla shares have traded in a 52-week range of $21.11 to $35.00, and closed at $26.60, up $3.81, or 16.72%.
Imperial Capital’s Mary Ross Gilbert is unconvinced of rumors that private equity firms might take Sears Holdings Corporation (NASDAQ:SHLD) private, she tells CNBC. Citing larger difficulties that could make a going-private transaction impossible, she said that “including significant cash burn with rapidly deteriorating financial performance and reduced liquidity, particularly if the major vendors become reluctant to fund holiday 2012 shipments.” Sears shares closed at $36.75, up $3.19, or 9.51%; they have traded in a 52-week range of $28.89 to $94.79.
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