Home Stocks Stocks to Watch: Tesla, LyondellBasell, Prudential, McDonald's, Nike, AbbVie, Exxon Mobil, AutoNation

Stocks to Watch: Tesla, LyondellBasell, Prudential, McDonald's, Nike, AbbVie, Exxon Mobil, AutoNation

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A Nike billboard features NFL quarterback-turned-activist Colin Kaepernick. Nike shares have risen in six of the last seven sessions.


Photo:

Richard B. Levine/Zuma Press

Here are some of the companies with shares expected to trade actively in Wednesday’s session. Stock movements reflect premarket trading.

Tesla
Inc.

—Down 1.8%: Tesla shares fell more than 3% on Tuesday, erasing recent gains after the company said the Justice Department has opened an investigation into the company following Chief Executive Elon Musk’s surprise tweet in August that he had secured funding to possibly take the electric-car maker private.

LyondellBasell Industries

NV—Down 2.6%:

JPMorgan

analysts downgraded the chemical company’s stock to underweight, citing the recent rise in feedstock prices.

Prudential Financial
Inc.

—Up 1.8%: Prudential announced a series of leadership changes, including a new finance chief, about a week after the company said that its chief executive would step down.

McDonald’s Corp.—Up 0.1%: European Union regulators said

McDonald’s

tax arrangement in Luxembourg is legal, dropping an investigation against the U.S. fast-food giant in contrast with a barrage of fines levied on American tech firms.

Nike
Inc.

—Up 0.4%: Shares of the athletic apparel retailer have risen in six of the past seven sessions to a record, erasing declines from earlier this month that followed its decision to use National Football League quarterback-turned activist Colin Kaepernick at the center of an advertising campaign. Nike is scheduled to report earnings next week.

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AbbVie
Inc.

—Down 0.7%: A California lawsuit filed late in Tuesday’s session alleges the company made “illegal kickbacks” to health-care providers to encourage prescriptions of its drug Humira. Shares of AbbVie closed down 2.9%.

Exxon Mobil Corp.—Down 0.5%: Shares of energy companies are expected to swing alongside oil prices on weekly government inventory data slated to be released at 10:30 a.m. ET. The American Petroleum Institute, an industry group, late Tuesday reported that stockpiles rose unexpectedly last week.

AutoNation
Inc.

—Unchanged: Chief Executive Mike Jackson, who stood out in the tight-lipped auto industry for his outspoken personality and willingness to challenge auto makers publicly, will step down in 2019.

This is a version of the “Stocks to Watch” section of our Markets newsletter. To receive it every morning via email, click here.

Write to Amrith Ramkumar at amrith.ramkumar@wsj.com

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