After a mixed performance to start a holiday-shortened week, stocks look poised for a higher open on Wednesday. Volume is likely to remain sparse with many participants still on vacation and a general lack of catalysts. Here are some stocks to watch on Wednesday:
- Trendforce has reduced its estimate for the number of iPhone 14 Pro shipments expected from Apple (NASDAQ:AAPL) in 2022. The research firm now says that 78.1M of the product were shipped during the year, as the tech giant suffered from labor shortages in China. Trendforce also trimmed its Q1 forecast.
- Pfizer’s (PFE) pentavalent meningococcal vaccine candidate has been accepted for review by the U.S. Food and Drug Administration. The FDA is slated to make a decision on PFE’s application in October 2023.
- An Australian study has shown that the protein-based COVID vaccine developed by Novavax (NVAX) lags behind mRNA-based vaccines in terms of effectiveness. The study, funded by the New South Wales Ministry of Health, found that rates of COVID infection were higher among patients receiving the NVX than rival vaccines.
- Maxeon Solar Technologies (MAXN) revealed that it has named outside executive Bill Mulligan as its CEO. Mulligan previously served as COO of Sila Nanotechnologies. Meanwhile, interim CEO Mark Babcock will return to his role as chief revenue officer.
For more on the overall market, see why Seeking Alpha contributor Avi Gilburt is looking for the S&P 500 to rally to 4,300 if the current support levels hold.