The markets started the week on a positive note though trading volume was noticeably light. Economic news is light this week but the Dow 30 was able to hit a another, new all time high, gaining 24. The S&P 500 added 3, and the Nasdaq 100 gained 32. Tomorrow leaves little for traders to focus on. With no market moving economic news, and little news from Washington traders will be left to trade on any unscheduled news that surfaces.
Tesla (NASDAQ: TSLA) made headlines again today as the electric car maker announced its plans to raise about $1.5 billion in capital through a debt offering. This was expected by some analysts as the company enters full production of its Model 3. Tesla says they are averaging around 1,800 orders a day for the Model 3 since it's launch in late July. The stock was down slightly on the news today but still boasts a 67% gain on the year.
Rockwell Collins (NYSE: COL) shares shot up 6.78% today as reports surfaced that showed that United Technologies (NYSE: UTX) delivered an offer to buy the aircraft component maker. According to the reports, the deal aims to "combine Rockwell's commercial and military aircraft business with United's Tech's broad portfolio that includes aircraft engines and ventilation systems." Shares of Rockwell Collins are now higher by 35% on the year.
BlackBerry (NASDAQ: BBRY) shares were lower by 3.60% today as Goldman Sachs (NYSE: GS) resumed coverage on the stock with a sell rating and a price target of $8.50 a share. Goldman said that they do not expect any "material contributions from automotive over the next 18 months" and sees "increasing competition in the enterprise mobility management space." Though BlackBerry did make a comeback earlier this year, shares are now over 20% off of their highs set back in May.