Sign up Canada
Proactive Investors - Run By Investors For Investors

EARLY MOVERS: Tesla comes off the gas as Elon Musk takes to Twitter - again, while Costco Wholesale Corp also falls

Also in the frame before the New York bell was Mattress Firm, which has now filed for Chapter 11 bankruptcy protection
Musk in the spotlight again for his use of Twitter

As is oft the case, electric car titan Tesla (NASDAQ:TSLA) was gathering hits in pre-market New York trade, and guess what? CEO Elon Musk's been using Twitter again.

Tesla shares are down 2.82% to $273.88  in before the bell trade.

Mocking the Securities and Exchange Commission, Muck tweeted shortly after the market close on Thursday, describing the SEC as the "Shortseller Enrichment Commission" before snidely praising it for "doing incredible work".

It comes just days after he settled a case with the regulator alleging he duped investors.

Before the New York bell, Costco Wholesale Corp (NASDAQ:COST) saw shares lose 3.52% to $223.52.

It came after the multinational group released its fourth-quarter earnings. Costco reported earnings per share (EPS) of $2.36, which was in line with analysts' estimates.

The company saw $44.41 billion in revenue,  which was a tad higher than the $44.27 billion, which was expected by analysts.

Mattress Firm (NASDAQ:MFRM) said Friday, as had been flagged in renent days, that it had filed for Chapter 11 bankruptcy protection so it can take steps to strengthen its balance sheet and reshape its store footprint.

The bed mattress retailer has already filed court motions for approval to reject up to 700 leases. It will begin to close roughly 200 stores in the next few days.

It expects to complete prepackaged restructuring within the next 45 to 60 days,  the company said.

Shares are down 0.02% to $64.02.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use