The markets were lower today but did manage to close off their session lows. The Dow 30 was only lower by 12 after being down triple digits. The S&P 500 lost 3, and the Nasdaq 100 lost 17. Tomorrow the scheduled news is fairly light with only some minor economic numbers due out in the morning.
Tesla (NASDAQ: TSLA) shares blasted off 7.27% today when the company said its "deliveries of electric cars and SUVs hit a record in the first quarter." The 25000 vehicle number was a shock to analysts as they were not expecting so much due to last quarters decline in deliveries when the company experienced production issues. Analysts note that because of this strong first quarter performance, Tesla is now back on track to meet its goal of delivering as many as 50,000 vehicles in the first half of the year. Shares moved to new highs on the news and very nearly touched the psychological, $300 number.
Mylan (NYSE: MYL) was back in the news today as the company shared that it would be expanding its recall of its Epipen and EpiPen Junior allergy treatment to Europe, Asia, and North and South America. The company seemed forced to do this in light of news that the drug may not work when used. Just a few weeks ago the company recalled over 80,000 EpiPens in Norway, Denmark, Finland, Ireland, Australia, New Zealand and Japan due to the same issue. Although the news was not great today, shares did temporarily stop their drift lower. Shares were up slightly (+0.05%) after being lower by almost 15% in March.
Under Armour (NYSE: UA) got some help from Barron's this weekend as the magazine commented that "the athletic gear maker's stock could rise 30% over the next year as it taps new markets both at home and overseas." The stock has had a rough year so far, down 29% thanks to an increase in inventories and slowing sales. The new did not have much affect on the stock though as shares were only up 0.22% on the day.