Rumor on the Street: It's almost Friday, but then it's not. Anyway, a certain well-known hedge fund name will be making the rounds Wednesday to drum up support for his vocal campaign against payroll processor Automatic Data Processing  (ADP) . Said hedgie has made good points on ADP, namely pertaining to a board that could definitely need a refresh (how engaged is Glenn Hubbard, I mean come on). But at the end of the day, a company's stock price is truth and ADP's has surged more than 141% over the last five years (CEO Carlos Rodriguez has been in place since November 2011) vs. the S&P 500's 89% increase. Something has to be going right, no?

It's hard to root for Tesla's stock: Overly optimistic Tesla (TSLA) bulls need to be socked in the face by a 25% earnings day correction. I'm tired of how easy it has been for this crowd this year to push up a stock with dreadful fundamentals and a not-so-certain future. Not sure if this 25% haircut is coming after earnings this evening, but what's expected to be a dour report could start the wheels in motion. Glad that a birdie passed me a note today from an investment firm short Tesla. While the position has been painful this year, the reasons for it have never been clearer: (1) Tesla has no moat around its business, aka it does nothing truly proprietary; (2) Tesla is a losing a ton of money BEFORE a wave of competition beginning next year (disturbing); and (3) CEO Elon Musk is lacking in credibility (and arguably management skills).

Walmart rips out its price-chopping ax: If I am a seller of toys, jeans, or food right now I am entering the holiday season in full freakout mode. Not because this may be Sears' (SHLD) final holiday season, but rather due to the intensifying price battle between Walmart (WMT) and Amazon (AMZN) that may obliterate profit margins. Walmart has already gotten its price-cutting message out the door, telling TheStreet's Cathaleen Chen it will begin slashing prices this coming weekend. Your move, Amazon. 

What Else Is Hot

Apple to $1 Trillion

Tech giant Apple (AAPL) is only 16% or so from having a $1 trillion market cap. My call on whether it hits the mind-blowing number before yearend can be seen in the above video. Hit me up on Twitter @BrianSozzi with your call -- bonus points if you tweet it from an iPhone X ahead of Apple's earnings on Thursday.

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL? Learn more now.

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