(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.

Momentum in the electric car maker's stock has been unabashedly strong in recent weeks, as the company recently became profitable for the first time in its

history

.

Several analysts recently raised their price targets on Tesla, with

Morgan Stanley

calling Tesla "America's

fourth automaker"

.

A large portion of the run-up in the stock has been caused by short-covering, which has fallen dramatically. The days-to-cover ratio fell from just under eight days to cover as of April 30, to 1.56 on May 15, the last date data is available, according to

Nasdaq.

Yahoo!

(YHOO)

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

.

Also see: Marissa Mayer's 'New York Yankees' Strategy Will Fail at Yahoo! >>

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

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