Tesla, Dollar General, JA Solar News Today

Tesla Inc, DG stock, and JA Solar Holdings Co., Ltd. are in the news today

Karee Venema
Mar 16, 2017 at 10:36 AM
facebook twitter linkedin


U.S. stocks are trading higher, as markets look to extend yesterday's Fed-induced upside. Among specific equities in focus are electric car maker Tesla Inc (NASDAQ:TSLA), retailer Dollar General, and alternative energy interest JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO). Here's a quick roundup of the headlines moving shares of TSLA, DG, and JASO.

Tesla Stock Pops on Plans to Raise Capital

TSLA stock is up 2.2% at $261.23, after the company said it hopes to raise $1.15 billion in capital ahead of its Model 3 launch by a dual offering of common stock and convertible notes. Tesla shares have been surging since forming a double bottom near $180 last fall, and topped out at a two-year high of $287.39 on Feb. 14. More recently, TSLA's pullback from this technical milestone was quickly contained in the $244-$266 region, home to its rising 60-day moving average and a 38.2% Fibonacci retracement of its December-to-February surge. A continued rally could shake loose some of the weaker bearish hands in the options pits, where put buying has been popular in recent weeks, giving Tesla Inc an extra boost on the charts.

DG Flashes Bullish Signal After Earnings

After reporting earnings and revenue above analyst expectations and raising its quarterly dividend, shares of DG are popping 1.7% to $74.07. This represents an upbeat change of pace, considering the equity notched hefty losses of 5% and 17.6% in the post-earnings sessions for the last two consecutive quarters. Today's rally also puts the stock on pace to top its 50-day moving average for the first time in over two weeks -- a historically bullish signal -- though Dollar General stock is still down 12% year-over-year. The brokerage bunch has yet to weigh in on the news, and at present, most have taken a glass-half-empty approach. Of 20 firms following DG, 11 rate the shares a "hold" or "strong sell."

JA Solar Shares Surge After Earnings

A surprise quarterly profit has JASO stock up 10% at $5.50, on track for its highest close since early December. The shares have been slumping beneath the 30-week moving average since last spring, and are sitting on a 38.2% year-over-year deficit. Still, options traders have favored JA Solar Holdings Co., Ltd. calls over puts in recent months, amid low absolute volumes. During the past 10 weeks on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), 18.45 of the stock's calls were bought to open for every put.

Get a jump-start on the day's stock market news with Schaeffer's free Opening View newsletter.


A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earnings guide for Q3 before it's too late!


  
 

Partnercenter