Midday movers: Coinbase, Wynn Resorts, Alibaba and more
By Liz Moyer
Investing.com -- Stocks were mixed on Friday, taking a breather a day after a big rally as inflation numbers came in better than expected. Here are the midday movers for Nov. 11:
Coinbase Global Inc (NASDAQ: COIN ) stock rose 10% after rival crypto exchange FTX filed for bankruptcy protection amid a liquidity squeeze that started last weekend. The price of Bitcoin stabilized but was still down nearly 3% on Friday to around $16,820.
Wynn Resorts Limited (NASDAQ: WYNN ) stock jumped 8% after China relaxed some of its Covid-19 restrictions, including cutting two days off the quarantine rules for international travelers. That could potentially be a boost for its Macau gaming operations.
Alibaba Group Holdings Ltd ADR (NYSE: BABA ) shares rose 1.7% as the Chinese e-commerce giant promoted its Singles' Day sales event. Fellow e-commerce firm JD.com Inc's (NASDAQ: JD ) shares rose 6.4%.
Ralph Lauren Corp (NYSE: RL ) shares rose 7.5% after the luxury fashion brand reported better than expected second-quarter results . It forecast 2023 revenue to rise 8%, though foreign exchange will be a challenge to growth.
LegalZoom.com Inc (NASDAQ: LZ ) shares rose 9.3% after it posted a smaller-than-expected loss and raised its full-year outlook for revenue.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or