Investing.com - Stocks in focus in pre-market trade Wednesday:
• Snap (NYSE:SNAP) stock slid 1.07% as it reported that daily Snapchat users fell to 188 million from 191 million in the prior quarter. Limiting losses, a billionaire investor revealed a 2.3% stake in the company, expressing confidence that Snap had just begun to “scratch the surface of its true potential”.
• Papa John's (NASDAQ:PZZA) stock sank 9.42% after the company forecast that full-year comparable sales will decline between 7% and 10% and cut its profit forecast, citing fallout from the company's acrimonious split with former Chairman John Schnatter.
• Tesla (NASDAQ:TSLA) stock declined 1.33% after surging 11% in the prior session on chief executive Elon Musk’s comments that he was considering taking the company private for $420 a share. Some observers suggested that Musk could be hit with a lawsuit by short sellers if the information was false.
• Ford Motor (NYSE:F) stock was little changed after saying it will launch in China early next year a new “entry-level” sport utility vehicle developed jointly with a local partner, as the U.S. automaker attempts to revive its slumping business in the world’s biggest auto market.
• Cars.com (NYSE:CARS) slumped 3.64% after cutting its 2018 outlook due to lower subscription revenue in the first half of the year and lower growth in its national advertising business.
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