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TheStreet Open House

[video] Quick Take: Tesla Revs Up, Facebook Knows Whatsapp & Jim Cramer Gets Gassed Up

NEW YORK ( TheStreet) -- U.S. equities are slightly in the red, as weakness remains in the global equity markets. The FTSE 100 is down 0.3%, the DAX 100 is off 1.2% and the Nikkei is down 2.1%. 

TheStreet's Jonathan Marino reported that Facebook (FB) will buy WhatsApp for up to $19 billion, including future stock vesting options for WhatsApp's employees. 

In reaction, Facebook shares were down 4% in pre-market trading, before quickly rallying back to flat near the open. Shares were recently down about 2%.

In other merger-and-acquisition news, Safeway (SWY) revealed that it is in talks with private-equity firms about a possible buyout. Marino added that leveraged buyouts are nothing new to Safeway, which was bought out in 1986, before being sold 13 years later. Cerberus is the favorite to land Safeway. 

Shares of Tesla Motors (TSLA) rose by 8% to $210, off its after-hours highs, after the company posted earnings of 33 cents per share, beating analysts' estimates of 19 cents per share. 

The company announced that its SUV Model X will be delayed until 2015, but investors took kindly to Tesla's rosy outlook that production is expected to increase 55% year-over-year and gross margins should increase, Marino said.

Finally, Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said he is a buyer Chevron (CVX) for the long term.  The stock is essentially flat over the past 12 months, but Cramer likes the company's relatively conservative guidance for this year. The stock is 9% off its highs and has a dividend yield of 3.5%. 


Priceline.com (PCLN) and Groupon (GRPN) will report earnings after the close.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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