The energy industry continued to surge late Friday, with the Energy SPDR (NYSEARCA:XLE) gaining nearly 1% ahead of the weekend, helping the S&P 500 finish up 0.33%.
Heading into Monday’s trading, there are several companies making headlines, including Tesla Motors Inc (NASDAQ:TSLA), Netflix, Inc. (NASDAQ:NFLX) and United Continental Holdings Inc (NYSE:UAL).
Here’s what you should know heading into today’s trading:
Tesla Motors Inc
The electric car maker’s stock rose 2.71% Friday, helping to cap a strong midweek rally.
Tesla received a boost following news that the company’s Model 3 will be unveiled in Los Angeles at the end of this month. The electric vehicle is expected to be Tesla’s foray into more affordable cars, with a likely starting price of $35,000.
TSLA shares ended last week on a three-day winning streak that covered about 8% in positive ground — a welcome bounce after Citron’s short announcement weakened shares.
Tesla investors should note, though, that 30% of the stock’s float was sold short as of the most recent short interest data, so it’s worth wondering how much of last week’s buying was by shorts starting to unload positions. If the pressure has eased, Tesla could be dragged back into its more intermediate-term downtrend.
Netflix, Inc.
The online streaming giant’s stock got a little boost late last week as the company released the fourth season of House of Cards.
Netflix shares were up 4% Friday, and the stock could further benefit from the site’s recent announcement that it plans to spend $5 billion on content on movies and TV shows this year.
NFLX has been an underperformer so far this year, dropping 15% against the more modest losses of the S&P 500. That has prompted mixed reviews regarding the stock. Out of the 46 analysts that have rated Netflix, 24 have NFLX as a buy and 18 view it as a hold, with the remaining four suggesting investors sell the stock.
Still, Netflix has a consensus analyst price target of $123.74 over the next 12 months, which represents nearly 30% upside from here.
United Continental Holdings Inc
United Airlines shared some good news over the weekend as president and CEO Oscar Munoz will return to the airline full time on March 14. The company’s boss has been on medical leave following a heart attack in October and a heart transplant surgery in January.
Munoz has helped the company make major decisions with employees and shareholders during his recovery.
UAL also has been on a rip-roaring run of late, surging nearly 25% higher in the past month. That has included a move through both the stock’s 50- and 200-day moving averages.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
