Yahoo Finance Trending tickers: AMD, Shell, AstraZeneca, HubSpot
The latest investor updates on stocks that are trending on Friday
AMD (AMD)
Chipmaker AMD fell victim to the broader tech rout in US stocks on Thursday, falling 8.3% by the closing bell as part of a selloff sparked by comments from Federal Reserve officials which cast doubt on imminent rate cuts.
Indices took a bath after Minnesota Fed president Neel Kashkari suggested the Fed may not cut interest rates at all this year if inflation progress stalls. The positive market action also paused amid a spike in oil prices.
Read more: FTSE 100 LIVE: European stocks head lower as UK house prices fall
The stock looks set to recover some losses in Friday trade.
AstraZeneca (AZN.L)
Pharma giant AztraZeneca announced on Friday its blockbuster cancer drug has seen positive results in a late-stage clinical trial.
Imfinzi, the drug created to treat aggressive lung cancer demonstrated a “statistically significant and clinically meaningful improvement in patient survival for small cell lung cancer, the company said.
Despite the positive news, AstraZeneca stock was down about 1.1% in morning trade in London. Earlier this week the stock price fell because of surprise news that US federal payment rates to Medicare insurers next year will be lower than analysts predicted.
Read more: Stocks that are trending today
The Center for Medicare and Medicaid Services said that 2025 payment rates will be in line with a proposal at the start of the year that the insurance industry had argued was too low.
Shell (SHEL.L)
Oil major Shell's stock spiked in early trade on Friday, rising on pumping oil prices due to tension in the Middle East. The company also released its latest production forecasts.
Production is forecast to range between 960 to 1,000 thousand barrels of oil equivalent per day (kboe/d), with liquefied natural gas (LNG) liquefaction volumes expected to lie between 7.2 to 7.6 million tonnes (MT) in the first quarter, the company said.
It anticipates underlying operating expenses to be between $1bn (£791.6m) and $1.2bn, with adjusted EBITDA estimates of $1.2bn to $1.6bn.
The Renewables and Energy Solutions segment is expected to post between a loss of $100m to a gain of $500m.
Despite earlier gains, by about 10am Shell was trading almost flat in London.
HubSpot (HUBS)
News broke on Thursday that Google parent Alphabet (GOOG) is weighing up an offer for content marketing platform HubSpot. Reuters first reported the potential deal.
It won't be cheap to take HubSpot off the market, and regulatory considerations could prove tricky too. HubSpot's current market value is around $35bn, while the tech sector faces scrutiny from US regulators about its market power.
HubSpot stock rose 5% in trade on Thursday and looked set to continue its climb on Friday.
Watch: AstraZeneca to acquire Fusion Pharmaceuticals in $2bn deal
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