Stocks in focus in premarket trading on Wednesday:
• Tiffany & Co (NYSE:TIF) stock was up 1.3% in premarket trade by 8:30 AM ET (12:30 GMT) after its earnings came in higher than expected, driven by sales in China. Still, worldwide net sales declined 3%, while earnings came in 6% below the same period a year ago. Same-store sales missed estimates as the company was hit by lower tourist spending.
• Autodesk (NASDAQ:ADSK) stock slumped 12% after it said the trade war could hurt its financials in the second half of the fiscal year.
• Hewlett Packard Enterprise (NYSE:HPE) stock jumped 4% after it boosted it full-year guidance on an uptick in gross margins.
• Papa John's (NASDAQ:PZZA) stock rose 2.2% after Stifel Nicolaus upgraded it to 'buy' from 'hold' due to the company naming former Arby’s president Rob Lynch as its CEO, CNBC reported.
• JetBlue Airways (NASDAQ:JBLU) stock gained 2.7% after Deutsche Bank (DE:DBKGn) issued a 'buy' recommendation, arguing that its 15% fall over the last three weeks makes a good entry point.
