Tomahawk, WI 08/07/2014 (Basicsmedia) – Morgan Stanley (NYSE:MS) & Tesla Motors Inc. (NASDAQ:TSLA) were the top movers on Wednesday trading session according to ‘Fast Money’ crew on CNBC with Groupon Inc. (NASDAQ:GRPN) & Take-Two Interactive Software, Inc. (NASDAQ:TTWO) coming in as the biggest flops. Despite reducing its second quarter earnings by 2 cents to 92 cents due to increased legal settlements, CNBC’s, Pete Najarian, remains bullish about the Morgan Stanley prospects going forward. The level of executions and what the company has been able to do over the past quarters are some of the reasons why Mr. Najarian is remaining bullish about the Morgan Stanley (NYSE:MS).
“One of the best ideas from Morgan Stanley (NYSE:MS), when you look at the execution and what they have been able to do throughout every single quarter this is a name that still trades at a great valuation. I think it goes higher,” said Mr. Najarian.
Tesla was also up in the market with its stock surging by 4.38%; the much-anticipated Model X is expected to be a much-needed driving force for the company going forward. Expansion in china also looks set to beneficial in allowing the company near its all-time high of $265, achieved sometime in February. CNBC’s, Steven Grasso, also maintains some reservations about Tesla, waiting to see when it will break through the $265 barrier level.
“If you look at $265 that’s where you’ve got the breakthrough to be buyable again, but you have got to have a stomach for this. I think Model X is going to be a huge amount of tailwind for this guys, You’ve got to look at Tesla but am a little afraid of this level right here you’ve got to be careful,” said Grasso
Groupon Inc. (NASDAQ:GRPN) was on the other hand a big loser going down 12.72% after the company reported a big loss for the second quarter, weighed down by increased acquisition costs as well as other one-time expenses. CNBC’s, Guy Adami, maintains it is not the best time to own the stock other than in a short position.
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) was another big loser on Wednesday trading session, going down by 6.37% despite the company posting better than expected revenue in its fiscal first quarter, at the back of its Grand Theft Auto Game continuing to enjoy strong demand.