Midday movers: Tesla, Zynga

Stocks are down as ADP's jobs survey indicates companies added fewer workers than projected in March.

By MSN Money Partner Apr 3, 2013 1:15PM
Wall Street sign copyright Corbis, SuperStockflyonthewall logoInformation provided by Theflyonthewall.com

Tesla Motors (TSLA) shares fell nearly 8% after the company announced a new leasing plan for its Model S after the market's closed last night. 

Tesla CEO Elon Musk teased the announcement in a Twitter post on March 25 and the company's shares had been up about 20% from that date until yesterday's close. In the interim, the company also announced that it expected to be "fully profitable" in the first quarter and that it had exceeded its prior guidance for Model S sales.

Among companies reporting earnings this morning, Monsanto (MON) advanced over 1% and ConAgra (CAG) declined about 1%.

Among the notable gainers were NII Holdings (NIHD), which rose 20% after a Peruvian paper said the company is close to selling its unit there for $500M, and Zynga (ZNGA), which advanced 15% after the company announced last night that it would allow U.K. users to gamble real money in two new games. 

Among the noteworthy losers was Mindspeed (MSPD), which declined 15% after it lowered its forecast for net product revenue in its second quarter. Also lower were shares of Global Payments (GPN), which slid about 8% after its earnings and revenue missed expectations and the shares were downgraded to Underperform from Outperform at CLSA.


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