Diamonds and Dogs
4/1/13Panasonic Corporation (PC)
Panasonic is trading in the red today, down 8.46% at $6.71. The electronic company saw its shares fall due to two significant reasons. First, Panasonic announced that it would be delisted from the New York Stock Exchange (NYSE). The delisting is voluntary, and the company says the main reason for the delisting was that their primary goal for trading in the US was to expand its exposure in the US. The second reason that Panasonic is trading lower is that fact that the company announced it expected a loss of $8.1 billion for the fiscal year. Furthermore, the company's management said that it was contemplating leaving the TV industry, but only as a final resort. Panasonic is trading in the lower half of its 52-week range of $4.61-$9.28.
Telsa Motors Inc. (TSLA)
Tesla Motors is speeding ahead today, up 15.94% at $43.93. The electric car company saw its shares rev its engines after the company announced that its Model S sales exceeded initial targets. Telsa Motors sold 4,750 Model S vehicles in the first quarter beating its expectations of 4,500 vehicles. Due to the better than expected sales, the company announced it feels that the first quarter will bring in "full profitability." Management had previous thought the first quarter would only be "slightly positive." Telsa shares jumped over $6.00 today, and climbed up near its 52-week high of $46.68.
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