Benzinga Pro's Top 5 Stocks To Watch For Wednesday, Jun. 15, 2022: VLO, BIDU, SNOW, AACI, CPTN
Today's 5 Stock Ideas:
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Valero Energy (VLO) - US President Biden wrote to execs at major oil players (including Valero) and complained oil companies had reduced oil refining to beef up their profits. “At a time of war, refinery profit margins well above normal being passed directly onto American families are unacceptable,” Biden wrote.
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Baidu (BIDU) - Shares were up about 3% Wednesday morning following a report the company could sell its majority stake in iQIYI (IQ) for as much as $7 billion.
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Snowflake (SNOW) - The subject of Wednesday's biggest sell-side call. An analyst at Canaccord upgraded the stock to Buy and set a $185 price target on Snowflake shares.
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Armada Acquisition Corp. I (AACI) - The special purpose acquisition corporation (SPAC) partner for mobile engagement platform, Rezolve. Rezolve CEO, Dan Wagner, will interview on Benzinga's "Benzinga Live" YouTube show Thursday at 1:15 p.m. EDT.
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Cepton (CPTN) - One of Tuesday's momentum du jour plays. Cepton is considered a "SPAC redemption" play, the result of a recently-completed SPAC deal that has gotten attention and momentum from traders. The stock closed up about 40% on Tuesday and saw some modest profit taking in Wednesday's pre-market session, down about 13%.