Schaeffer's Trading Floor Blog

Buzz Stocks: The Walt Disney Company, Tesla Motors Inc (TSLA), Chesapeake Energy, and Wal-Mart Stores, Inc.

Today's stocks to watch in the news include DIS, TSLA, CHK, and WMT

by 9/13/2013 9:40 AM
Stocks quoted in this article:

Stocks appear set to rebound from yesterday's slight pullback, as futures are pointed higher ahead of the opening bell. Among the many reports scheduled for release later this morning are business inventories and the most recent consumer sentiment index. In company news, here are some stocks to watch today:

  • The Walt Disney Company (NYSE:DIS) chief financial officer Jay Rasulo said the entertainment company plans to spend $6 billion to $8 billion in stock buybacks next year, up at least $2 billion from its current amount. The executive attributes the increased repurchasing program to DIS' confidence in the future, particularly its 2014 movie lineup. (Yahoo! News)

  • Elon Musk, the visionary CEO of Tesla Motors Inc (NASDAQ:TSLA), has a message for potential short sellers: don't do it. "In the past, I said it's really crazy to short Tesla. Is it so crazy to short Tesla right now? I mean, it's not as crazy, but I still think it's probably not a good idea," Musk said. (MarketWatch)

  • Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) shares are up over 13% in pre-market activity following last night's second-quarter earnings beat. The beauty-supply retailer saw its second-quarter profit soar 28% to $44.9 million, or 70 cents per share, from its year-ago results of $35 million, or 54 cents per share. ULTA's revenue likewise jumped to $601 million from $481.7 million. Analysts were expecting per-share earnings of 67 cents on sales of $588.4 million. For the fiscal third quarter, ULTA expects to earn between 71 and 74 cents per share, versus analysts' expectations of 76 cents. (Bloomberg Businessweek)

  • In a move meant to "reduce expenses" and "improve its operating and competitive performance," Chesapeake Energy Corporation (NYSE:CHK) is preparing to lay off up to 2,000 workers. The natural-gas giant has already cut members of its creative and corporate development teams, and additional layoffs may be on the way. (CNBC)

  • Wal-Mart Stores, Inc. (NYSE:WMT) is trying to undercut its competition on Apple Inc.'s (NASDAQ:AAPL) iPhone 5c and 5s, when the new mobile devices go on sale Sept. 20. The global retailer will sell the 16GB iPhone 5c for $79 and the 16GB iPhone 5s for $189 -- $20 and $10 off their respective retail prices. (Los Angeles Times)

  • Yelp Inc (NYSE:YELP) has filed a lawsuit against a San Diego-based law firm for posting fake, positive reviews to its profile, and colluding with other law firms to do the same. This is just part of an ongoing battle, YELP said, which it fights using "algorithms and investigations" to identify and purge its website of illegitimate feedback. (Consumerist)

  • Finally, Twitter announced via a tweet yesterday that it had filed an S-1 form with the SEC, setting up the social-media site for an initial public offering. Analysts value the company at upwards of $9 billion, and former PayPal, Inc. executive David Sacks believes it will be worth around $25 billion after the first day of public trading. (USA Today)


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