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Stocks - Netflix Soars in Pre-market; IBM, Tilray, Canopy Growth Sink; Tesla Rises

Investing.com
Updated
Stocks in focus in pre-market trade on Wednesday.
Stocks in focus in pre-market trade on Wednesday.

Investing.com - Stocks in focus in pre-market trade Wednesday:

• Netflix (NASDAQ:NFLX) stock skyrocketed 10.05% by 8:04 AM ET (12:04 GMT) after the company reported better-than-expected quarterly profit and a record number of new subscribers.

• IBM (NYSE:IBM) stock sank 4.87% as the company’s third quarter revenue missed consensus as software sales slowed.

• Tesla (NASDAQ:TSLA) stock gained 1.16% after the company signed a deal with Shanghai authorities to purchase land on which it plans to build its first overseas Gigafactory.

• Tilray (NASDAQ:TLRY) stock and Canopy Growth (NYSE:CGC) stock sank 6.07% and 4.36% respectively, as cannabis became legal for recreational use in Canada on Wednesday. Experts expect pot producers to be in for a rocky start, with shortages expected on the first day of legalization.

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• Teva Pharma (NYSE:TEVA) stock traded down 3.19% after Express Scripts said it will exclude its migraine drug while covering rival alternatives from Eli Lilly (NYSE:LLY) and Amgen (NASDAQ:AMGN).

• United Continental (NASDAQ:UAL) stock soared 5.69% after reporting a 30% increase in quarterly profit and lifting its earnings guidance.

• Cree (NASDAQ:CREE) stock jumped 2.26% after the company reported better-than-expected fiscal first-quarter results.

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