(Updates from 1:02 p.m. ET with closing information.)NEW YORK ( TheStreet) -- Tesla Motors (TSLA - Get Report) is surging 8% Tuesday afternoon to $104.84, breaching $100 for the first time.
Yahoo! (YHOO - Get Report) shares were higher by 0.8% to $26.54 on rumors suggesting the Internet giant will make another major acquisition, this time bidding for Hulu.
AllThingsD reported that Yahoo! would pay between $600 million and $800 million for the video-content company, as CEO Marissa Mayer continues to turn core Yahoo! around. Yahoo! recently purchased Tumblr for $1.1 billion, despite Tumblr only generating $13 million in revenue for all of 2012.
Apple (AAPL - Get Report) shares were slightly higher, gaining 0.07% to $445.10 as one analyst thinks Apple has more short-term pain in store. Citigroup's Glen Yeung believes Apple has some value, but cautions against buying the stock now. "At 10.1x 2014E EPS (compared to S&P500 13.5x), Apple represents value at face value, particularly in light of its 2.7% dividend yield vs. 2.11% for the S&P500," Yeung note. However, with consensus gross margins, and hence estimates, at risk and end-market growth facing steep deceleration, we expect AAPL to remain range-bound and do not recommend the shares at this time."
Closing prices: TSLA jumped 13.7% to $110.33 Tuesday but YHOO fell 1% to $26.07 and AAPL was off nearly 1% to $441.44. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Chris_Ciaccia