Intraday Trading Up (PAG, AAPL)

Today the market hit intraday highs for the last two and a half years, after softening earlier in the week and month. As always, of course, a strong market does not mean that all individual companies are doing well. Penske Automotive Groups’ (PAG) Smart car sales have stagnated after their strong initial introduction to the U.S. market. Tesla Motors Inc. has seen tremendous revenue growth year over year; over 95 percent. On the other hand, their net losses have actually more than doubled, from $24.2 million in the fourth quarter of 2009 to $51.4 million in the fourth quarter of 2010. Finally, a group of 22 hedge funds that had almost 5 percent of Apple’s (AAPL) stock divested themselves of it.

Word on the Street

• Sales of Penske Automotive Groups’ (PAG)  Smart cars in the U.S. have plateaued.
• Tesla’s revenue is up 95% year over year, but their losses have more than doubled.
• The House is currently debating defunding the Health Care bill.
• Stock markets intraday levels were at a two and a half year high.
• Getting a product shared by someone on Facebook is worth almost three times as much as getting linked on Twitter.
• A big group of Hedge Funds have sold their stakes in Apple (AAPL).

Interesting Tidbits

• Having difficulty communicating IT facts to your CEO? Here’s a good system.
• Rather than hiding your business idea, focus on getting people excited about it.

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