Electric car maker Tesla Motors ( TSLA) was down sharply, off 8.48% to $28.06 after the company cut its 2012 guidance and announced a follow-on offering to sell 4.3 million shares. In a filing with the Securities and Exchange Commission, Tesla said it now anticipates 2012 revenue of between $400 million and $440 million, as its Model S production has been slower than anticipated. The company had previously expected a range between $560 million and $600 million. Analysts polled by Thomson Reuters are looking for $542.6 million in sales for the full year. Third-quarter revenue expectations were also cut, with the company saying it sees revenue between $44 million and $46 million. The current Wall Street consensus is for revenue of $83 million in the September-ending quarter. Tesla said it expects to deliver between 200 and 225 Model S vehicles this quarter, with an additional 2,500 to 3,000 slated to be delivered in the fourth quarter.
Shares of Internet search giant Google ( GOOG) continued to reach new highs on Tuesday, gaining another 1.35% to hit $759.51. Earlier, shares had reached a peak of $764.89, surpassing the all-time high set in November, 2007. Interested in more on Google? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull