Midday Report: Tesla Model 3 Pre-Orders Top 325K; Stocks Fall

Stocks extended their decline, retreating from Wednesday's rally, as crude oil gave back some of its recent gains. Commodity traders grew more skeptical next week's OPEC meeting will result in any meaningful action to address a supply glut. Tesla (TSLA) - Get Report has reached 325,000 in pre-orders for its latest vehicle, the Model 3. The vehicle reservations amount to $14 billion in implied future sales. Bulk-shopping retailer Costco (COST) - Get Report fell after a disappointing March performance. Comparable-store sales rose 1% last month, below an estimated 1.9% increase. Rite Aid (RAD) - Get Report reported a 21 percent jump in quarterly sales thanks to the acquisition of pharmacy-benefit manager Envision Pharmaceutical Services last year.