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Market Overview

Benzinga Pro's Top 6 Stocks To Watch For Tues., Mar. 3, 2020: TGT, BYND, UBER, NOVN, QRVO, HTBX


Benzinga Pro's Stocks To Watch For Tuesday

  • Target (TGT) - Shares were lower by about 1.5% following mixed Q4 results and inline Q1 guidance. 
  • Beyond Meat (BYND) - The stock was up more than 5% following an appearance by Founder and CEO Ethan Brown on Jim Cramer's "Mad Money" Monday evening. The exec reiterated the company's international expansion plans. On Tuesday morning, Beyond Meat competitor Impossible Foods issued a press release which highlighted an average 15% price cut for its products. Impossible Foods will also expand its product offerings to include quarter- and third-pound patties.
  • Uber (UBER) - Needham said it's a buyer of Uber shares and added the stock to its Conviction list. The firm's Brad Erickson cut his price target on Uber shares from $56 to $54.
  • Novan (NOVN) - This penny stock was one of Monday's largest gainers, up about 112%. While a notable hedge fund, Sabby Management, on Friday afternoon showed a 7.54% stake in the company, we didn't see any company-specific news to justify the move higher on Monday. After the close Monday, Novan filed for a 14 million share offering of common stock and warrants. Shares were down about 14% in pre-market trade.
  • Qorvo (QRVO) - The company cut its Q4 sales guidance amid supply chain disruptions related to the coronavirus outbreak. Qorvo now sees Q4 sales around $770 million, down from a previously-issued range of $800 million to $840 million. Despite the guidance cut, shares were up about 1.5% ahead of the open.
  • Heat Biologics (HTBX) - One of Monday's most-talked-about stocks, Heat Biologics shares closed up 140% as traders considered the stock another play on the coronavirus. The company received a provisional patent for its immune therapy/vaccine technology. An analyst at Maxim reiterated a Buy rating and $1 price target on the penny stock. 

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Posted-In: Pre-Market Outlook