Market Overview

Benzinga Pro's Top 5 Stocks To Watch For Tues., Feb. 18, 2020: AAPL, WMT, TSLA, FLR, SPWR


Benzinga Pro's Stocks To Watch For Tuesday

  • Apple (AAPL) - The company warned late Monday amid the coronavirus outbreak. Apple said it will not achieve its sales guidance given for the upcoming March quarter. The company said its iPhone manufacturing outside the Hubei province has been ramping more slowly than the company had expected. Shares were down about 2%; the downside weighed on overall stocks. S&P 500 futures were down 0.4% ahead of the open.
  • Walmart (WMT) - Reported a Q4 earnings and sales miss. Quarterly US same-store sales were up 6%. The stock was down 1% in pre-market action.
  • Tesla (TSLA) - Shares were up nearly 5% following news Underweight-rated Morgan Stanley analyst Adam Jonas raised his price target on the stock from $360 to $500. The analyst boosted his bull-case scenario price target on Tesla to $1,200. As Tesla shares traded near $840 pre market, the new bull-case analyst price target represented potential upside of about 43% from where the stock traded Tuesday morning.
  • Flour (FLR) - The company gave preliminary FY20 guidance which was inline with analyst estimates but said the SEC is conducting a probe into the company's past accounting and financial reporting. Shares were down 14% ahead of the opening bell. 
  • SunPower (SPWR) - Notable solar analyst Gordon Johnson issued a damning research report Tuesday morning, "Is SunPower Using Accounting Shenanigans to Distort its Biz Unit Cash Flows & Are Investors Oblivious?" The analyst maintained a Sell rating and $4.29 price target on SunPower. The analyst suggested SunPower's cash burn for Q4'19 would actually be about $15 million "when applying traditional accounting." When the company issued Q4 results on Feb. 12, 2020, SunPower reported its business units generated $122.4 million in cash.

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Posted-In: Pre-Market Outlook