By Sue Chang and William L. Watts, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tesla Motors Inc. shares rebounded Friday after three sessions of losses in the wake of a Youtube video showing a Model S car engulfed in flames after crashing into a large object.
Top Tickers Trending
$TSLA: Tesla (TSLA) rose 0.6%, but the stock is poised for a significant weekly decline following the circulation of the video. However, analysts have generally maintained their upbeat outlook on the electric-car maker. "Although this incident will likely weigh on near-term sentiment, we do not expect this to derail near-term Model S orders and delivery momentum," Craig Irwin at Wedbush wrote in a note on Thursday.
$VSO, $TSO: Valero Energy Corp. (VLO) and Tesoro Corp. (TSO) were the top trending tickers on Stock Twits. Both energy firms were recipients of friendly nods by analysts at Citi Research this week. The analysts upgraded both refiners to buy from neutral on Wednesday, but remained cautious on their peers. They said Tesoro would benefit from a tighter gasoline market in California, while Valero is poised to benefit from wider price differentials between oil grades over the next year. Valero was flat while Tesoro was down 0.6%.
Delta Air Lines Inc. (DAL) shares gained 3.1%. Delta on Wednesday said its consolidated passenger unit revenue rose 5.5% in September, thanks to trans-Atlantic and domestic business.
Shares of H&R Block Inc. (HRB) climbed 3%. H&R Block's stock has been on a steady rise in recent days, in part due to a belief that its business will be bolstered by people who are required to file tax returns to receive a government subsidy for health insurance under the Affordable Care Act.
Shares of Discovery Laboratories Inc. (DSCOD) surged 46%. The company said the Food and Drug Administration had agreed to the company's updated product specifications for its Surfaxin intratracheal suspension, which was approved for the prevention of respiratory distress in premature infants.
Dentsply International Inc. (XRAY) shares rose 3.2%. The stock was raised to buy from underperform at Bank of America, according to Benzinga.
CSX Corp. (CSX) shares fell 2%. CSX declared a quarterly dividend of 15 cents a share, unchanged from the previous quarter. Analysts at Cowen also noted recently that demand for large tank cars for Bakken crude is expected to drop sharply in the near future.
Phillips 66 (PSX) shares slid 1.3%. The stock has risen for three straight sessions, poised to finish the week slightly higher. The energy company on Wednesday declared a quarterly dividend of 39 cents a share, up 25%.
Xyratex Ltd. (XRTX) dropped 8.1%. The company late Thursday reported a 70% drop in third-quarter earnings and offered a somewhat downbeat fourth-quarter forecast. The U.K.-based maker of data-storage and manufacturing equipment said it expects fourth-quarter results to range between a loss of four cents and a profit of 20 cents on revenue of $190 million to $220 million. Analysts surveyed by Thomson Reuters had produced a forecast for profit of 16 cents on revenue of $218 million. Shares are up by around 43% for the year to date.
Forest Oil Corp. (FST) shares slid 5.3%. The company said late Thursday that it would sell its Texas Panhandle assets for $1 billion. The sale price exceeds Forest's roughly $770 million market cap, based on the value of shares at Thursday's close.
-Sue Chang; 415-439-6400; AskNewswires@dowjones.com
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10-04-13 1038ETCopyright (c) 2013 Dow Jones & Company, Inc.
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