Tesla Motors Hits Record High On Upgrade (JNJ,TSLA, LGF,TIVO)

Johnson & Johnson(NYSE:JNJ) shares are trading higher by 0.87% to $65.11. The company has reached an agreement with Texas state authorities and accepted to pay $158 million to the state of Texas to clear up the allegation that it misused the anti-psychotic Risperdal and marketed it to state residents on the Medicaid Health program for the poor. There are reports that the company will win an approval from EU for its planned $21.3 billion buy of Swiss medical devices maker Synthes Inc., If approved, it will be the largest deal in the company’s history.

Tesla Motors Inc(NASDAQ:TSLA) shares are trading sharply higher and made an all-time high of $37.55 just a few minutes back. The company said that H.E. Ahmed Saif Al Darmaki has resigned from the company’s Board of Directors effective as of the date of the Company’s 2012 Annual Meeting of Stockholders. Analyst at Wunderlich raised their investment rating on the stock to a “buy” from a “hold” and also lifted their price target by $19 to $49 a share. Shares of TSLA have jumped over 31% so far this year and over 65% over the past one year. The stock is now up over 10% to $37.58.
Lions Gate Entertainment Corp. (USA)(NYSE:LGF) also added over 2% to $14.85, off session high of $15.40 after  the company’s  success of "The Hunger Games," which grossed an estimated $155 million during its opening weekend, the third largest debut on record, trailing. According to The Los Angeles Times, the first movie alone is expected to mean a profit of over $300-million for the company. In other news, late Friday, the company said executives, including finance chief James Keegan and Co-Chief Operating Officer Steve Beeks, had entered stock-sale plans for about $7 million of shares.

TiVo Inc.(NASDAQ:TIVO) also rose 1% to $12.21 after the company files counterclaims in response to a patent infringement suit Motorola Motorola Mobility Holdings Inc(NYSE:MM) had initiated against it in 2011 that was stayed until earlier this year. In its response, TiVo alleges counterclaims against MMI and Time Warner Cable Inc(NYSE:TWC) for infringing three patents.