BBBY - 4 stocks to watch on Monday: Coca-Cola Bed Bath & Beyond and more

2023-04-24 08:27:31 ET

The futures were sitting near the unchanged mark during Monday's premarket action, continuing the uncertain trading that marked most of last week. Here are some stocks to watch on Monday:

• Coca-Cola ( NYSE: KO ) edged higher in premarket trading after reporting earnings and revenue that beat expectations . The top-line figure climbed 5% to $11B, exceeding projections by $220M. The soft drink maker benefited from higher pricing, with global unit case volume advancing by 3%.
• Bed Bath & Beyond ( BBBY ) filed for Chapter 11 bankruptcy protection. The struggling home products retailer said the move was meant to "implement an orderly wind down of its businesses while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets." Shares plunged 39% in premarket trading.
• Tesla ( TSLA ) raised its 2023 capital expenditure forecast , saying it now expects capex of $7B to $9B. Elon Musk's EV maker had previously predicted spending around $6B-$8B.
• Johnson & Johnson ( JNJ ) is reportedly ready to begin a roadshow to promote the initial public offering of its consumer-healthcare spinoff. Citing people familiar with the matter, the Wall Street Journal reported that the unit, called Kenvue, plans to start meeting prospective investors.

Looking at the overall market, Seeking Alpha contributor David Lerner characterized the recent upswing in the stock market as a "bear market rally," although he thinks a further near-term advance could be possible in the next couple of weeks as a result of earnings news .

For further details see: