Stocks in focus in pre-market trade Wednesday:
• Apple (NASDAQ:AAPL) stock jumped 4.47% by 8:09 AM ET (12:09 GMT) as its high-priced iPhone X and services revenue helped it beat consensus.
• Tesla (NASDAQ:TSLA) stock gained 0.46% after a report that the company would invest $5 billion in a factory in China to avoid tariffs.
• Google-parent Alphabet (NASDAQ:GOOGL) stock traded up 1.38% as the internet giant plans to develop a censored version of its search engine for China that will block websites and certain search terms, according to a report from The Intercept.
• Campbell Soup (NYSE:CPB) stock jumped soared 3.91% on the back of news that activist hedge fund Third Point is meeting with some of the company’s largest shareholders to seek support for its sale or a major break-up.
• AMC Entertainment (NYSE:AMC) stock rose 3.04% as the company produced better-than-expected second quarter results thanks to record revenue in admission and food and beverages.
• Chesapeake Energy (NYSE:CHK) stock slumped 5.73% as the company reported that the average sales price of natural gas fell to $2.56 per thousand cubic feet in the second quarter down from $2.88 a year ago.
• The Cheesecake Factory (NASDAQ:CAKE) plunged 8.53% as second quarter earnings per share came in well under consensus.
• Pandora Media (NYSE:P) stock soared 13.50% as the company reported a smaller-than-expected loss and also beat quarterly revenue estimates.