Orlando, FL -- (SBWIRE) -- 09/04/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On SolarCity Corp (NASDAQ:SCTY), Monster Beverage Corp (NASDAQ:MNST).
SolarCity Corp (NASDAQ:SCTY) shares dropped 5.90% to $29.49. The company on August 29 said it is seeking to raise as much as $223.5 million by offering shares and selling convertible notes. The company plans to offer 2.8 million shares at $33.69 each, and underwriters Goldman Sachs Group Inc., Credit Suisse Group AG (CSGN) and Bank of America Corp. (BAC) have an option to purchase an additional 420,000 shares within 30 days, the San Mateo, California-based company said in a filing with the U.S. Securities and Exchange Commission.
Additionally, the company on August 8 reported a narrower second-quarter loss as demand for rooftop power systems surged 71 percent. Revenue slipped to $37.9 million from $46.6 million a year earlier as the company focused on solar leases and shifted away from selling rooftop systems to customers who paid upfront for the projects. The net loss shrank to $23.9 million, or 31 cents a share, from $25.8 million, or $2.37, a year earlier, the company said in a statement. Excluding one-time items, the loss was 4 cents more than the 39-cent average of five analysts’ estimates.
Are investors worried about the recent updates with SCTY? Find out with a free trend analysis HERE
Monster Beverage Corp (NASDAQ:MNST) shares dropped 5.87% to $54.02. The company on August 8 reported second-quarter profits that were slightly lower that the same quarter in 2012. The company’s earnings of $106.9 million in April, May and June, equal to 62 cents per share, missed analysts' estimates by 2 cents. The company reported that gross sales for the second quarter increased 6.6 percent, to more than $723 million, from the second quarter of 2012.
For the first six months of 2013, gross sales rose to $1.28 billion from $1.20 billion for the comparable period a year earlier. Net sales for the first six months of 2013 increased to $1.12 billion from $1.05 billion in the same period in 2012. Net income for the first six months of 2013 was $170.4 million, or $0.98 per diluted share, compared with $185.9 million, or $1.00 per diluted share, for the same period last year.
Is MNST going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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