Amazon, Toast, Walgreens rise premarket; Intel falls
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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