Jim Cramer Doesn't Want to Stay on the Tesla Horse
Jim Cramer Doesn't Want to Stay on the Tesla Horse
Alibaba Earnings, Consumer Credit: What to Watch on Wall Street May 7
Unlock your personal NFL Now stream by signing in to NFL.com
TheStreet's Jim Cramer might be getting off of the Tesla horse. Last week, Cramer commented that Anton Wahlman, who introduced Cramer to why Telsa was so great, is saying that there could be some pressure pops coming from BMW eventually. Cramer says the whole story about Tesla is that there is not going to be pressure from anywhere. The idea that there might be a competitor made Cramer think that maybe the Tesla trade was not for him. But, Cramer is not saying the Tesla trade could be over. Cramer is tired of getting behind stocks with huge moves and saying that is enough for him. Cramer liked shares of Tesla at $50 and also at $200 but that might be enough for him. Cramer says he loves the car but don't ask him to endorse the trade.
On Thursday, May 7th Alibaba Group Holding Ltd. (BABA) is in the spotlight as the Chinese online retailer gets set to report its latest quarterly earnings results. The company is scheduled to report its fiscal fourth quarter results before the market opens. TheStreet's Jim Cramer says Yahoo! (YHOO) is better to own than Alibaba. We also highlight six other notable earnings including Priceline Group (PCLN), Kate Spade (KATE), Orbitz Worldwide (OWW), CBS (CBS), Freshpet (FRPT), and TrueCar (TRUE). On the economic calendar, we note weekly jobless claims and consumer credit data. TheStreet's Kurumi Fukushima reports in New York.
Shares of Frontier Communications (FTR) took a hit, falling sharply in Wednesday's trading session after its latest earnings miss, making it TheStreet's Move of the Day. The telephone company finished the day as the worst performer on the S&P 500 following its first quarter earnings miss. The company reported lower than expected earnings and revenue for the period. Frontier also reaffirmed its 2015 guidance, saying it now expects capital spending of between $650 to $700 million for the full year. The range is lower compared to the $722.93 million analysts are expecting. Shares finished the regular session down on more than four times its normal trading volume. TheStreet's Kurumi Fukushima reports in New York.
Investors weren't pleased with Alexion's (ALXN) plan to buy Synageva (GEVA) for more than $8 billion. Alexion shares were among the worst performers on the Nasdaq. Microsoft (MSFT) lagged the Dow after being caught up in a sell-off among high-momentum tech names. Stocks pared losses, though remained in the red by close as markets weighed comments from Federal Reserve Chair Janet Yellen that equity valuations were possibly stretched. This is the second stock sell-off in as many days. Cablevision (CVC) had a better day than others after its CEO expressed a desire to do a deal with Time Warner Cable (TWC).
Stocks slipped in midday trading Wednesday after Fed Chair Janet Yellen warned of potentially stretched valuations. Western Union (WU) jumped on reports the payment services company is in talks to buy smaller rival MoneyGram (MGI). Wendy's (WEN) was higher after reporting an increase in same-restaurant sales. The chain sees high-single digit earnings growth through to 2017. Fossil Group (FOSL) plummeted despite beating quarterly estimates. The watch company issued full-year earnings guidance on the soft side as currency hits sales. It's been a choppy session so far with the Dow plunging more than 150 points at its lowest.
Herbalife (HLF) rallied after boosting full-year earnings forecasts as sales in China showed strength. The nutrition company has struggled with accusations it is a pyramid scheme from hedge fund manager Bill Ackman. Groupon (GRPN) narrowed its quarterly losses, though revenue missed expectations. Alexion Pharmaceuticals (ALXN) will acquire Synageva BioPharma (GEVA) in a cash and stock deal worth $8.4 billion. Stocks were slightly higher Wednesday as crude oil touched $62 a barrel, its highest level this year and its best since early December. Commodities were rallying as the U.S. dollar dipped. The ADP jobs report missed estimates.
Millionaires love Hillary, Amazon under attack, Tesla reports
Why the market slid after Janet Yellen spoke
Hillary Clinton: The millionaires' candidate
Amazon under attack from two retail pros
Van Gogh sells for $66m: Is art investing a bubble?
Tesla: Car company, battery company or something else entirely?
Money Minute: Should I pay off my student loans early?
Could you live in a 320-square-foot home?
You wouldn't believe how much these jobs pay
5 ways to save as a wedding guest
Arianna Huffington chats with Yahoo Finance
Mika Brzezinski launches star-studded tour to help women make more money.
Jobs report: Is Street too optimistic?
As profits improve, new Airline ETF takes-off
How OPEC could lose the oil wars
How Michelle Phan went from food stamps to the most popular woman on YouTube
T-Mobile Company Summary Apr 16, 2015
Charter eyes new high on deal; Movado's big Q4 profits; Priceline upgraded
Investors focus on bonds/jobs; Herbalife's big blowout; Apple's antitrust concerns
Herbalife gets earnings boost; Salesforce and MoneyGram pop on takeover talk
FTC questions Apple's music deals: Report
Facebook and IBM announce advertising partnership
Microsoft weighing a bid for Salesforce: Bloomberg
Bulls' big push; Disney soars; Panera's pantry cleanse