Benzinga | Oct 19, 2020 08:18AM EDT

Benzinga Pro's Top 5 Stocks To Watch For Monday, Oct. 19, 2020: TSLA, IBM, EOG, MNCL, SPPI

Today's 5 Stock Ideas:

* Tesla (TSLA) - Will report Q3 earnings after market close Wednesday. Analysts expect EPS of $0.56 on revenue of $8.26 billion.

* IBM (IBM) - To report quarterly results after market close on Monday.

* EOG Resources (EOG) - A possible merger play. Shares spiked on Friday amid unconfirmed rumors an unnamed major oil player previously considered making an offer to acquire EOG.

* Monocle Acquisition (MNCL) - A pre-combination special purpose acquisition corp (SPAC) play. On Monday morning, Monocle's acquisition target, AerSale, raised its 2020 adjusted EBITDA guidance from between $41.7 million and $48 million to between $48 million and $52 million. The transaction is expected to close "early in the fourth quarter," according to a company press release.

* Spectrum Pharmaceuticals (SPPI) - A play on an upcoming Prescription Drug User Free Act (PDUFA) date. The FDA will rule on the company's Biologics License Application for its chemotherapy-induced neutropenia candidate. The PDUFA date is set for Friday.