Benzinga Pro's Stocks To Watch For Wednesday
- Tesla (TSLA) - Shares continued Tuesday's rally in Wednesday's pre-market session. Following a nearly 3% rally on Tuesday, the stock was up another 1 percent to over the $362 level. The price action preceded an unveiling event the company will be hosting on Thursday. While much attention is being focused on the Tesla pickup which will be announced, a Credit Suisse analyst pointed out units for the pickup will only be a fraction of Model 3 and Y sales by 2025. The analyst estimated about 50,000 pickup units over the next 5 years and combined units of the 3 and Y over 700,000.
- Pinduoduo (PDD) - The stock was down nearly 25% following a large Q3 bottom-line miss.
- Salesforce.com (CRM) - Issued mixed guidance. Said expects FY20 sales between $16.99 billion and $17 billion vs the analyst consensus estimate of $16.86 billion. The company also guided for FY21: said sees sales between $20.8 billion and $20.9 billion vs an estimate of $20.93 billion.
- Target (TGT) - Shares were up more than 10% following a Q3 beat and raised FY19 guidance. The company's Q4 guidance was inline.
- Canopy Growth (CGC) - Bank of America upgraded the stock to Buy and said "the worst is over" for the company's operations. Shares were up more than 6%.
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