Stocks are mixed ahead of a meeting between Greece and euro zone finance ministers on the terms of the country’s bailout agreement.
Yahoo Finance Editor-in-Chief Aaron Task thinks that the two sides will reach a debt deal.
“If Greece were to leave the Euro– if there was a Greek exit that would have major ramifications for the rest of Europe…and I do not think they are going to let that happen,” Task says.
The Nasdaq (^IXIC) getting a lift from Apple (AAPL). The stock is hitting a new all-time high this morning. The iPhone maker became the first company to hit the $ 700 billion valuation milestone yesterday.
Investors also weighing earnings from some big consumer names.
PepsiCo (PEP) reporting a beat on its top and bottom lines as it benefited from recent price hikes and growth in emerging markets. But profit fell due to a stronger dollar and restructuring charges related to cost-cutting. Shares of Pepsi are higher on the news. This comes after rival Coke (KO) also reported better-than-expected earnings on Tuesday.
Related: Pepsi jumps; Pier 1 sinks; Tesla tumbles
Time Warner (TWX) posting earnings per share that topped estimates, but revenue fell slightly short of expectations. Sales fell 1% from a year earlier due to weakness in its Warner Bros movie studio business, which offset gains in its Home Box Office and Turner divisions.
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Pier 1 Imports (PIR) shares sinking after the specialty home retailer cut its profit outlook for the year due to weak sales in January and unexpected supply chain costs. The company also said its chief financial officer was retiring.
Tesla (TSLA) shares are sliding. CEO Elon Musk apparently is pretty angry about slow sales in China. Reuters reporting Musk is threatening to fire or demote managers there following Tesla’s announcement last month that Chinese sales were unexpectedly weak in the fourth quarter. The news coming ahead of Tesla’s financial report, which is being released after the close of trading today.
Related: What’s wrong with Tesla? Maybe nothing
Television’s cult of personality taking a big hit today. First, Jon Stewart announcing he is leaving his late night “Daily Show” later this year. Stewart has hosted the popular Viacom (VIA) owned Comedy Central show for more than 16 years. And Comcast’s (CMCSA) NBC is suspending Nightly News anchor Brian Williams for 6 months without pay for fabricating a story about being under fire during the Iraq War.
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