© Reuters
By Peter Nurse
Investing.com — Stocks in focus in premarket trade on Monday, November 21st. Please refresh for updates.
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Walt Disney (NYSE:) stock soared 8.5% after the entertainment giant brought back Bob Iger as chief executive less than a year after he retired, in an attempt to boost investor confidence after a difficult year.
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Digital World Acquisition (NASDAQ:) stock fell 3.2% after Elon Musk reinstated former President Donald Trump to his Twitter social media service, potentially undermining Trump’s new platform Truth Social, which is owned by the special purpose acquisition vehicle.
- Coinbase Global (NASDAQ:) stock fell 6.2% with the cryptocurrency exchange struggling in the wake of rival FTX’s collapse.
- Carvana (NYSE:) stock fell 5.1% after the used car retailer announced late Friday another round of job cuts that will impact about 1,500 employees, or 8% of its workforce, as it attempts to cut costs.
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Yum! Brands (NYSE:) stock rose 0.3% after Bloomberg reported that Americana Restaurants, the Middle Eastern operator of Yum’s KFC and Pizza Hut, is set to raise up to $1.8 billion from its initial public offering, at the top end of a marketed range.
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Comerica (NYSE:) stock rose 1.1% after Raymond James upgraded its stance on the financial services company to ‘outperform’ from market perform’, saying it can jump more than 20% from current levels.
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Taiwan Semiconductor Manufacturing (NYSE:) stock fell 1.7% after reports of a meeting between its CEO and Chinese President Xi Jinping in Thailand at the weekend created uncertainty about the company’s future.
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Imago Biosciences (NASDAQ:) stock more than doubled after Merck & Company (NYSE:) said it would acquire the cancer drug developer Imago BioSciences for a total equity value of $1.35B.
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