Tesla Shares Collapse on New Goldman Target and 2 More Heavily Traded Stocks to Follow
Tesla Motors Inc. (NASDAQ:TSLA): Current price $109.05
Tesla shares are down almost 15 percent in afternoon trade on Tuesday, just after soaring to a new all-time high earlier in the week. Today’s plummet marks the largest one-day drop the shares have seen since January 2012. The sell-off is being pushed by the highest trading volume in the stock since May, and it’s extremely likely that one factor is a research note from Goldman Sachs, which set a price target at $84, 34 percent below Tuesday’s open at $126.32.
Facebook Inc. (NASDAQ:FB): Current price $26.32
Facebook’s chief of North American sales, Tom Arrix, said on Tuesday that he is exiting the company. Arrix came to Facebook in 2006, and prior to his arrival, the site had virtually no advertising. In the past quarter, the company brought in $1.25 billion from ads. The firm’s ad chief, Carolyn Everson, will assume Arrix’s role until she finds a replacement. Arrix has not yet said what his future plans are.
Intel Corp. (NASDAQ:INTC): Current price $
Chipmaker Intel is expected to report its fourth consecutive quarter of declining sales on a year-over-year basis, when it posts its second quarter results after the close on Wednesday. The corporation’s earnings per share are expected to slide for the sixth straight quarter, with Wall Street analysts forecasting that Intel will not return to sales growth until the September quarter, and EPS growth until the December quarter. Analysts polled by Thomson Reuters say that Intel will earn 39 cents per share, which would be down by 28 percent on sales of $12.9 billion, and down 4 percent for the second quarter.