What’s Moving These Super Hot Stocks: Cisco, Monster Beverage and More
Tesla Motors, Inc. (NASDAQ:TSLA) is supercharging its stature in the automobile world with the announcement that they are set to deliver its first premium electric sedan, the Model S, to the market by June, according to the Detroit News. The company received $465 million in loans from the Energy Department to fund the production of the vehicle, an outlay that Tesla says will be depleted within 6 months.
Tesla shares were up 10.45% in recent trading to $33.20.
Cisco Systems, Inc. (NASDAQ:CSCO): Net income for the computer networks rose to $2.17 billion (40 cents per share) vs. $1.81 billion (33 cents per share) in the same quarter a year earlier. This marks a rise of 19.8% from the year-earlier quarter. Revenue rose 6.8% to $11.6 billion from the year-earlier quarter. Cisco Systems Inc. reported adjusted net income of 48 cents per share. By that measure, the company beat the mean estimate of 41 cents per share. Analysts were expecting revenue of $11.58 billion.
Cisco shares recently traded at $17.11, down $1.67, or 8.89%.
Apparently, energy drinks can also boost your bottom line. Monster Beverage (NASDAQ:MNST) reported that first quarter earnings per share and revenue came well ahead of analyst predictions. A surge in year-over-year sales of Monster Energy was a significant factor in the higher than expected numbers, up 26.2%. Monster also reported that sales of their drinks in convenience stores and gas stations through April 21 rose 24.9% over the same period last year. In comparison, Red Bull sales increased 23.1%. But this boost isn’t short-lived. Stifel Nicolaus anticipates sales of the Monster drinks continuing to climb in the low double digit percentage levels over the next three to five years, thanks, in part, to market-share inroads in the U.S. and international markets.
Stifel, which maintains a Buy rating on its shares, bumped its target on the stock to $80 from $64. Monster saw its shares uptick in early trading $6.98 to $72.30. Monster shares recently traded at $71.95, up $6.64, or 10.17%.
Looks like the competition will continue long after the Olympic flame is extinguished. According to Bloomberg, concert promoter Live Nation Entertainment, Inc. (NYSE:LYV) and the Anschutz Entertainment Group will vie for the opportunity to run London’s 80,000-seat Olympic Stadium after the Games conclude in August.
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