Gainers:
Google Inc. (GOOG) is gaining 1 percent to $925.50. The company commenced the 6th annual Google I/O developer conference yesterday in San Francisco. The company made several announcements, including a monthly music subscription service as well as newly designed Google+.
Kohl's Corp. (KSS) is rising 7 percent to $53.20. The company's first quarter profit and net sales declined from the previous year period. The company forecast second quarter earnings per share in-line with analysts' estimate. The company also noted that, after a slow start, sales improved considerably in April as the weather finally improved in its most weather-sensitive regions.
Cisco Systems, Inc. (CSCO) is rising over 10 percent to $23.49. The company's third quarter profit improved from the prior year period and its adjusted earnings per share were above Wall Street view. Net sales for the quarter rose 5.4 percent and topped the consensus estimate.
Tesla Motors, Inc. (TSLA) is up 12 percent to $94.98 following an announcement about its plan to sell 2.7 million shares of common stock and $450 million of convertible senior notes due 2018 in concurrent public offerings. The company expects gross proceeds of approximately $830 million, which will be available for prepaying its outstanding loan from the U.S Department of Energy, pay the cost of convertible note hedge transactions and for general corporate purposes.
Eagle Bulk Shipping, Inc. (EGLE) is up 20 percent to $4.28 after it reported a profit in its first quarter.
Decliners:
Apple Inc. (AAPL) is falling 1 percent to $423.94.
Wal-Mart Stores Inc. (WMT) is falling 2 percent to $78.35. The company's first quarter earnings and total revenues improved from the prior year period, but were below Wall Street view. Walmart U.S. comp sales declined 1.4 percent in the 13-week period. The company also forecast second quarter earnings per share below analysts' expectation. The company noted that the second quarter will be challenging, given expense pressures in International and its corporate area.
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