Courtesy of Benzinga
Benzinga Pro’s Stocks To Watch For Wednesday
- Disney (DIS) – The company announced Bob Iger will step down as CEO, to be replaced by Bob Chapek. Iger will assume the role of Executive Chair through 2021. Disney shares were down about 2% on the news.
- Virgin Galactic (SPCE) – Shares were down 4% following Q4 results. The company reported a nearly $73 million loss on sales of under $530K. The stock is probably one of the most popular stocks on Wall Street right now: about 15 million shares trade per day on average; on Tuesday, ahead of the earnings report, about 41 million shares traded. Virgin Galactic was about a $6 billion market-cap company at last check.
- Beyond Meat (BYND) – The stock was up 4% following news Starbucks (SBUX) will begin selling a Beyond Meat sandwich via its Canadian menu. Reminder: traders had attributed chatter Starbucks could test Beyond Meat products in its stores as a reason for a large move higher in Beyond Meat shares at the start of January.
- SmileDirectClub (SDC) – Shares were down 23% following worse-than-expected Q4 results and FY20 sales guidance.
- JC Penney (JCP) – Will report quarterly results before market open on Thursday, Feb. 27, 2020.
