6 stocks to watch on Wednesday: CrowdStrike, Tesla, Campbell Soup and more
da-kuk/E+ via Getty Images


The futures spent Wednesday morning bouncing around near the unchanged mark, as Wall Street looks for direction after a retreat the previous day. Hawkish comments from Federal Reserve Chair Jerome Powell sent stocks lower during Tuesday's trading. Here are some stocks to watch on Wednesday:

CrowdStrike (NASDAQ:CRWD) rose in premarket trading following the release of a strong quarterly update. Shares of the cybersecurity firm rose about 7% after the company reported Q4 earnings that topped expectations, with revenue rising 48% to $637M from last year. The company also issued an upbeat forecast, predicting revenue in Q1 of $674.9M-$678.2M.
Tesla (TSLA) received a downgrade from Berenberg, which cut its rating on Elon Musk's EV maker to Hold from Buy. The firm maintained a bullish long-term outlook for TSLA but took a cautious near-term view after the stock's sharp rally so far this year. TSLA has climbed about 74% in 2023.
Campbell Soup (CPB) topped expectations with both its top and bottom lines. The packaged food maker reported quarterly revenue of $2.48B, an increase of 12% from last year. Meanwhile, CPB also raised its full-year forecast, saying it expects net sales growth of 8.5% to 10%. Shares climbed more than 1% before the opening bell.
Occidental (OXY) showed strength in premarket trading, rising nearly 4%. The advance came on news that Warren Buffett's Berkshire Hathaway (BRK.A) (BRK.B) purchased another 5.8M shares of the oil company. Berkshire now holds a stake of about 22% in OXY.
ABM Industries (ABM) reported a mixed quarterly report. The provider of facility management services beat expectations with its Q4 earnings. Revenue growth was sluggish, rising 3% to $2B. The company also reaffirmed its 2023 outlook.
MongoDB (MDB) is slated to announce its quarterly results after the closing bell. Analysts expect the company to earn $0.07 per share. Revenue is projected to rise about 27% to almost $338M.


Looking at the overall market, Seeking Alpha contributor Bill Kort advises investors to "step back off the ledge" after Fed Chair Jerome Powell's hawkish reports, which sent the market "into a state of suspended animation."