5 stocks to watch for Wednesday: Pepsi, Intel, Bed Bath & Beyond and more
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After a mixed performance the previous day, the S&P 500 is looking to break its five-session losing streak on Wednesday. Inflation data will be in focus. However, some stocks will still move on individual stories. With that in mind, here are some stocks to watch for Wednesday:

Intel (INTC) is reportedly planning job cuts in response to slowing demand for PCs. According to Bloomberg, the semiconductor maker is poised to announce the headcount reduction as early as this month.
Pepsi (NASDAQ:PEP) pushed higher in premarket action following the release of its quarterly results. Shares of the soft drink maker rose more than 2% after the firm beat expectations with its Q3 result earnings and raised its forecast for the full year.
Bed Bath & Beyond (BBBY) saw buying interest in premarket trading, rising by nearly 4% on reports that some creditors are currently working on a bond deal. Bloomberg reported that the goal involves reaching a deal with BBBY to swap notes due in 2024 for longer-dated securities.
DocuSign (DOCU) also showed strength before the opening bell, pushed higher by an upgrade from Wedbush. Analyst Dan Ives raised his rating on the stock to Neutral from Underperform, saying the digital document signing company has seen its negative catalysts play out, limiting future downside. Shares rose about 2% in premarket action.

A lowered forecast put pressure on Owens & Minor (OMI). The company cut its full-year earnings forecast to $2.50-$2.60 per share, compared to its previous target of $2.85-$3.15 per share. The company also revealed a management reshuffling, including moving company executive Alexander Bruni into the role of CFO.


With earnings season poised to ramp up later this week, Citi points to the U.S. dollar strength as a likely talking point as companies announce their quarterly results.