UPDATE 2-Carmaker Tesla's stock revs higher on first day

Newswire

* Tesla shares up 10.3 pct from IPO price in afternoon * Trades on Nasdaq under symbol 'TSLA' * Sedan is reason Tesla is unprofitable -CEO * Tesla first carmaker to have IPO since Ford's 1956 debut * Tesla not expecting profits until at least 2012 (Adds analyst comments, other details, updates share prices) By Jonathan Spicer and Poornima Gupta NEW YORK/SAN FRANCISCO, June 29 (Reuters) - Shares of electric carmaker Tesla Motors Inc opened nearly 12 percent above their initial ...

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