Disney, Imago BioSciences rise premarket; Coinbase, Carvana fall

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Monday, November 21st. Please refresh for updates.

Walt Disney (NYSE:DIS) 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.

Digital World Acquisition (NASDAQ:DWAC) 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:COIN) stock fell 6.2% with the cryptocurrency exchange struggling in the wake of rival FTX's collapse. Carvana (NYSE:CVNA) 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.

Yum! Brands (NYSE:YUM) 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.

Comerica (NYSE:CMA) 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.

Taiwan Semiconductor Manufacturing (NYSE:TSM) 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.

Imago Biosciences (NASDAQ:IMGO) stock more than doubled after Merck & Company (NYSE:MRK) said it would acquire the cancer drug developer Imago BioSciences for a total equity value of $1.35B.

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