The markets were slightly higher today after hitting new record highs. As the French election news comes to a close investors were left waiting for more news to further fuel this rally. The Dow 30 was higher by 5, the S&P 500 was flat, and the Nasdaq 100 gained 1. Tomorrow investors will have to look for company specific news to trade on as their is very little in the way of market-moving, economic news. Friday will be the big day for scheduled news again.
Tesla (NASDAQ: TSLA) shares continued their wild price movement today after news of an upgrade came from Evercore. The investment firm resumed coverage of the electric automaker with an "outperform" rating and a price target of $330 a share. Evercore calls Tesla "an extreme growth story." Investors cannot argue with that statement as shares are hovering just under the 50% gain mark for the year.
Straight Path Communications (NASDAQ: STRP) shares blasted off another 32.97% today after reports came in that the company has received a higher offer of $3.1 billion from an "unnamed telecom firm." The new buyout bid is almost double AT&T's (NYSE: T) offer for Straight Path. Shares have been on a wild run, straight up since the news began back in April. For 2017 shares are up just over 500%.
Sinclair Broadcasting (NASDAQ: SBGI) shares were the wildest movers of the day as news came out that the company is buying their competitor, Tribune Media (NASDAQ: TRCO) for about $4 billion in cash and stock. This sent shares higher initially but sellers persisted all day long and the stock closed lower by 2.23%. The announcement comes just weeks after the FCC eased rules that limit the number of TV stations broadcasters can own. Shares are still higher by 8% on the year.