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By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Friday, November 11th. Please refresh for updates.
Amazon (NASDAQ:AMZN) stock rose 2% after the Wall Street Journal reported that the online retail giant is set to make big cost cuts, including focusing on the division that houses its home assistant Alexa.
Toast (NYSE:TOST) stock rose 10% after the restaurant management software company lifted its full-year revenue guidance as new locations and strong user revenue boosted third-quarter results.
Intel (NASDAQ:INTC) stock fell 1.7% after JPMorgan downgraded its stance on the chipmaker all the way to ‘underweight’ from ‘overweight’, citing increased competition.
Walgreens (NASDAQ:WBA) stock rose 2.4% after Deutsche Bank upgraded its stance on the pharmacy chain to 'buy' from 'hold', saying the stock could rally 30%. Wynn Resorts (NASDAQ:WYNN) stock rose 3.6% and Las Vegas Sands (NYSE:LVS) stock rose 3.8% after the casino operators benefited from China easing its Covid-19 restrictions.
Roku (NASDAQ:ROKU) stock fell 0.4% after Jefferies initiated coverage of the streaming tech provider with a ‘hold’ rating, saying its obvious growth potential could be tempered by a difficult macro environment.
Duolingo (NASDAQ:DUOL) stock rose 0.2% after the educational technology company reported a third-quarter loss, even while slightly lifting its outlook for the year.
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It would be natural for the market to take a pause after such a huge move, but Wall Street seemed to be in a mood to keep the good times rolling, as futures contracts on popular stock indexes moved higher by another half a percent or so Friday morning. The bear market during 2022 has hit a lot of companies hard, but IPO stocks have been among the worst performers. With investors reassured about the fundamental prospects for their respective businesses, both Doximity and Toast could be getting back their positive momentum, giving shareholders the chance to earn back some of their recent losses.
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The sudden collapse of FTX, the world’s third-largest cryptocurrency exchange, underlines how important it is for any investor to learn about the risks taken when money is parked with a lightly regulated firm. Sam Bankman-Fried resigned his position as CEO and was replaced by John J. Ray III, a lawyer who has worked on the bankruptcies of Enron, Nortel Networks and many other companies. FTX, based in the Bahamas, held about $16 billion in customer assets but had lent about $10 billion of that to Alameda Research, a trading firm also run by Bankman-Fried and headquartered in Hong Kong, according to a Wall Street Journal report.
When SBF approached Musk about investing in his Twitter bid, Musk asked his banker Michael Grimes, "Does Sam actually have $3B liquid?"
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My favorites are companies that pay high dividend yields that they've been able to grow steadily over time. Three ultra-high-yielders that I've been buying hand-over-fist this year are Blackstone (NYSE: BX), Medical Properties Trust (NYSE: MPW), and Verizon (NYSE: VZ).
Ex-FTX CEO Sam Bankman-Fried lost his entire $16 billion fortune in less than a week after his company filed chapter 11 bankruptcy protection on Friday.
A look at the shareholders of ReneSola Ltd ( NYSE:SOL ) can tell us which group is most powerful. With 25% stake…
One of Wall Street's most implacable bulls has laid out his argument for why he thinks U.S. stocks can continue to rally into year's end after Thursday's game-changing October inflation data.
Finding solid returns is the goal of the game when it comes to stock investing, and investors of all stripes are always on the lookout for a reliable strategy. One common mode, followed by retail investors seeking accurate clues for stocks on the way up, is keep track of insider trades. Corporate insiders are company officers, in high positions, with responsibility to Board members and shareholders alike for bringing in profits and stock price gains. Their positions give them a deeper knowledge
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Sometimes, a single new data point can break up the most complacent of outlooks. After 10 months of markets trending down, inflation rising, and the Federal Reserve hiking interest rates, it was only natural to assume that the rest of the year held more of the same. And then October’s inflation print broke that mold. It came in at 7.7% annualized, significantly less than the 8% expected. While still near 40-year highs, and still up 0.4% month-over-month, the October number indicates that the rat
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