The News Courier in Athens, Alabama

State and Nation

April 1, 2013

Stocks dip after manufacturing growth slows

(Continued)

EBay rose $1.95 to $56.16. The company said late Friday that it expects revenue and profit to keep heading higher in the coming years as its e-commerce business and fast-growing PayPal payments service continue to expand.

Brewer Molson Coors, which counts Coors and Miller Lite among its beers, rose $2.34 to $51.28 after Goldman Sachs upgraded its rating on the stock to "Buy" from "Neutral," citing a better outlook for beer sales as the economy improves.

The new month should give investors cause for optimism.

April is historically the second-strongest month for stocks, Deutsche Bank said in report today. The S&P 500 has gained an average of 1.4 percent in April, based on returns since 1960, making it the second strongest month after December.

The yield on the 10-year Treasury note, which moves inversely to its price, fell to 1.84 percent from 1.85 percent.

Markets were closed in observance of Good Friday last week. European markets were closed Monday for Easter.

Among other stocks making big moves;

— Tesla Motors jumped $8.06 to $45.95 after the electric car company said sales are running ahead of schedule. The Palo Alto, Calif., company said Sunday night that first-quarter sales have exceeded 4,750 Model S sedans, above prior guidance of 4,500.

— DFC Global, a finance company that provides loans to consumers without bank accounts, fell $3.08 to $13.56 after it slashed its earnings outlook for its fiscal year.

— American Greetings rose $1.95 to $18.05 after the company agreed to be taken private for about $602 million by a group led by some of its top executives.

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