Tesla’s Model S Falls in the 1 Percent, Barnes & Noble Shares Tank, and 3 More Hot Stocks
Tesla Motors (NASDAQ:TSLA): Tesla’s Model S sedan has received a perfect 5-star safety crash test rating from the National Highway Traffic Safety Administration, giving the company yet another addition to its trophy case. Only 1 percent or so of all cars tested by the federal government achieve 5 stars across the board. “The Model S has the advantage in the front of not having a large gasoline engine block,” StreetInsider reports, ”thus creating a much longer crumple zone to absorb a high speed impact.”
Barnes & Noble (NYSE:BKS): Despite beats for both earnings and revenue, Barnes & Noble shares are plummeting, likely in reaction to the news that founder Leonard Riggio has ceased efforts to buy the company’s retail business. Retail fell 9.9 percent, hardly offset by college, which grew 2.4 percent. Nook sales were off sharply, down 39 percent. However, the retailer reaffirms its previous guidance, in which it expected retail comparable store sales to fall in the high single digits and college comparable store sales to decline at a low single-digit pace.
JPMorgan Chase & Co. (NYSE:JPM): China Everbright Bank has apparently denied speculation that its decision to bring JPMorgan onboard to help carry out an initial public offering was linked to the U.S. bank giving a job to the son of Everbright’s chairman, Reuters is reporting. The bank told the publication the process was ”Open and transparent, and there was no so-called issue of passing favors.” JPMorgan is accused of hiring the children of prominent individuals to help increase business in the country.
Blackstone Group (NYSE:BX): Blackstone is among the handful of private equity firms that are bidding to acquire Mitchell International from Aurora Capital Group, which could bring in as much as $1.5 billion for the car and property claims software company. Separately, Blackstone is also reported to be bidding on 316 bank branches owned by Royal Bank of Scotland.
Goldman Sachs (NYSE:GS): Goldman’s GS Vintage Fund VI will be investing 100 million euros in a new fund being set up by the U.K.’s Duke Street Capital, as well as 400 million euros to buy out existing investors in the firm’s previous fund after it abandoned plans for a 850 million euro leveraged buyout fund last year. Goldman’s GS Vintage Fund VI is a pool dedicated to buying commitments in funds rather than purchasing companies directly.