Kolkata, West Bengal -- (SBWIRE) -- 09/20/2013 -- Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on Darden Restaurants, Inc. (NYSE:DRI), Tesla Motors Inc (NASDAQ:TSLA), Clovis Oncology Inc (NASDAQ:CLVS).
Darden Restaurants, Inc. (NYSE:DRI) stock dropped 4.26% to $47.20 in the pre-market hour. The company on Sept. 20 said its fiscal first-quarter earnings fell a worse-than-expected 37% as food, beverage and labor costs continued to rise and the company's biggest chain posted a significant drop in same-restaurant sales.
For the period ended Aug. 25, Darden reported a profit of $70.2 million, or 53 cents a share, down from $110.8 million, or 85 cents a share, a year earlier. Sales grew 6.1% to $2.16 billion, aided by the addition of 46 Yard House restaurants. Analysts were expecting a profit of 70 cents a share and sales of $2.2 billion.
Additionally, Wunderlich Securities initiated coverage on Darden Restaurants on Sept. 6, giving the restaurant operator, known for its Olive Garden and Red Lobster brands, a tepid rating. The analysts noted that Darden’s internal investments will take time to “bear fruit.” As such, they rate DRI as “Hold” and see shares reaching $50.
Should Investors Buy DRI After Yesterday’s Jump? Find Out Here
Tesla Motors Inc (NASDAQ:TSLA) shares gained 0.88% to $179.49. Deutsche Bank has increased its price target on Tesla Motors Inc. (TSLA: Quote) to $200 per share, from $160 per share on Sept. 20.
Additionally, Barclays analysts on Sept. 9 slightly adjusted their estimates for Tesla Motors Inc (TSLA) based on lower interest income next year. They continue to believe the automaker will be successful in the mass market auto industry and have maintained their Equal Weight rating and $141 per share price target on the stock.
Moreover, the company on August 30 unveiled its highly anticipated European Supercharger network, energizing stations across Norway that enable Model S owners to conveniently travel for free between cities along well-traveled highways throughout the country.
How Should Investors Trade TSLA After The Recent Volatility? Get Free Trend Analysis Here
Clovis Oncology Inc (NASDAQ:CLVS) stock climbed 3.35% to $77.75 in the pre-market hour. Investment analysts at Citigroup Inc. initiated coverage on shares of CLVS in a note issued to investors on Sept. 20. The firm set a “buy” rating on the stock. Separately, analysts at Stifel Nicolaus initiated coverage on shares of Clovis Oncology in a research note to investors on Sept. 6. They set a “hold” rating on the stock.
Additionally, the company is exploring strategic options including a sale of the company, people with knowledge of the matter said on Sept. 18. Clovis is working with advisers including Credit Suisse AG to help it find a buyer, the people said, asking not to be identified as the information is private. The process is still in the early stages and the company is not yet in exclusive talks with any potential acquirer, one of the people said.
Should Investors Buy CLVS After Yesterday’s Jump? Find Out Here
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