Stocks snap losing streak; Tesla and Groupon skyrocket

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Stocks snap losing streak; Tesla and Groupon skyrocket

by Wochit 0:53 mins

Stocks snap losing streak; Tesla and Groupon skyrocket

by Wochit 0:53 mins

The market rebounded from a three-day losing after some widely followed companies like Tesla and Groupon rose following their quarterly reports. The electric carmaker Tesla Motors reported a narrower net loss for the second quarter, but it surprised Wall Street with an unexpected operating profit. Tesla Motors Inc. Chief Executive Elon Musk doesn't run his Silicon Valley electric car maker by traditional auto industry rules, and investors are so far rewarding him by putting a value on the company that defies easy comparisons. Tesla is scheduled to report second quarter results and most analysts are forecasting a 17-cent-a-share loss.

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