Stocks - Tesla Rises Premarket; Beyond Meat Bounces; BAT Falls
Stocks in focus in premarket trading on Wednesday:
• Tesla (NASDAQ:TSLA) stock rose 3.4% by 8:15 AM ET (12:15 GMT) after CEO Elon Musk told shareholders at their annual meeting that the company could have a “record quarter on every level.”
• Beyond Meat (NASDAQ:BYND) stock gained 5.2%, bouncing after a downgrade from JPMorgan (NYSE:JPM) sent it falling nearly 25% on Tuesday. The latest version of its burger patty ships out to stores this week. The company says the Beyond Burger patty is the next step towards its vision of protein products. .
• British American Tobacco (NYSE:BTI) stock fell 3.8% after it said sales of its cigarettes, which include Lucky Strike and Dunhill, would fall some 3.5% this year, something unlikely to be compensated even by strong growth in its vaping and e-cigarette products.
• Medidata Solutions (NASDAQ:MDSO) stock was down 3.8% after French tech giant Dassault Systemes (PA:DAST) said it would pay $92.25 a share for the company, a little below prior speculation. The deal values Medidata at $5.8 billion.
• Dave & Buster’s Entertainment (NASDAQ:PLAY) stock slumped 19% it lowered its guidance for the fiscal year and missed earnings and revenue estimates as the company fails to bring in customers.
• Mattel (NASDAQ:MAT) stock gained 4.1% after the toymaker rejected a second takeover offer from Bratz doll maker MGA Entertainment, Reuters reported.