Automatic Data Processing (ADP) – A play on the jobs market. ADP is one of only several non-governmental payroll providers. As such, economists and traders often use payroll data coming out of the company as an indication of the jobs market. On Wednesday morning, ADP released lower-than-expected growth in private-sector jobs for the month of November.
Amgen (AMGN) – Shares of Horizon Therapeutics (HZNP) were up about 30% Wednesday morning following news the company is engaged in “highly preliminary” discussions related to a potential offer. Amgen, Sanofi (SNY) and Johnson & Johnson’s (JNJ) Janssen were named as potential suitors involved in the discussions.
Sociedad Quimica Y Minera (SQM) – A play on lithium. Traders in Benzinga Pro’s lounge chat discussed the stock Wednesday morning. Several traders suggested they had or would be putting SQM on their lithium watch lists.
Beyond Meat (BYND) – In the plant-based food space Wednesday, Beyond Meat competitor and penny stock, Very Good Food (VGFC), announced a retail distribution deal with national grocer brand Albertsons. While Very Good Food shares were up 30% on the news, Beyond Meat shares were unaffected.