Schaeffer's Trading Floor Blog

Buzz Stocks: Tesla Motors Inc (TSLA), Citigroup Inc, Google Inc, and Juniper Networks, Inc.

Today's stocks to watch in the news include TSLA, C, GOOG, and JNPR

by 4/3/2014 9:21 AM
Stocks quoted in this article:

The broad-market indexes are edging higher in pre-market trading, as investors digest the latest international trade and weekly unemployment data. In company news, here are some stocks to watch today:

  • Tesla Motors Inc (NASDAQ:TSLA) has appealed a New Jersey ban on direct vehicle sales, saying the law unjustly favors franchise dealers at the expense of providing drivers with sustainable transportation methods. In court records, TSLA argues that franchise dealers "have an inherent conflict of interest in selling electric vehicles," since their revenue generally comes from gas-powered cars and trucks. (Bloomberg)

  • The FBI and prosecutors from the U.S. attorney's office in New York have opened a criminal investigation into Citigroup Inc's (NYSE:C) Mexico-based unit, Banamex. Authorities are trying to determine whether or not C's internal controls led to a fraud case, in which a Banamex employee falsified documents to secure a $400 million loan. (The New York Times)

  • Google Inc (NASDAQ:GOOG) shares split 2-for-1 yesterday, and will now be listed under the symbols "GOOGL" (Class A) and "GOOG" (Class C). As a result, 330 million new shares of GOOG will hit the stock market today, and the price of the Class A shares -- which have voting rights, unlike Class C shares -- will be halved. (Bloomberg)

  • Juniper Networks, Inc. (NYSE:JNPR) plans to lay off roughly 6% of its 9,400-employee workforce in order to cut costs. In addition, the company will consolidate its facilities and stop developing application delivery controllers. (PCWorld)

  • Finally, according to the Associated Press, the U.S. government built a copycat Twitter Inc (NYSE:TWTR) app for Cuba called "ZunZuneo," which publicly launched in 2010. The ultimate purpose of the service, which circumvented Cuba's Web filters, was to undermine the Communist nation's leadership and policies by growing a contingent of young dissenters. (Mashable)

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