Tech Leads a Subdued Open on a ‘Triple Witching’ Friday
U.S equities are mixed Friday morning with Tech names providing some boost while other names lagged as bond yields rebounded.
Upside, Downside Movers in the Morning
Upside
– $MEDS +30% (litigation settlement is expected to extinguish about $19 million of liabilities and retire 364,099 shares)
– $USDE +17%, $PURR +7.0%, $MSTR +2.8%, $HOOD +2.2% (crypto and tokenization-linked stocks rise as Bitcoin rallies and regulators grant temporary relief for tokenized U.S. stock trading)
– $STUB +6.0% (Citi upgrades to Buy from Neutral)
– $GOOGL +2.0%, $GOOG +1.9% (no clear fresh company-specific catalyst identified; unusually strong megacap premarket outperformance)
– $ETSY +1.1% (BTIG upgrades to Buy, citing improved valuation, positive demand tracking and a better cost structure)
Downside
– $XENE -22% (pauses new enrollment in Phase 3 depression trials after a liver-related safety event, overshadowing the focal-seizure NDA submission)
– $AEMD -9.9% (reverses part of the prior-day merger-driven surge; existing holders are expected to own about 4.75% of the combined company)
– $ARRY -4.2% (UBS downgrades to Neutral and flags growing cash preferred-dividend obligations that could pressure free cash flow)
– $NFLX -3.2% (Wells Fargo downgrades to Underweight, citing weakening engagement and a softer original-content slate)
– $NUE -2.3%, STLD -2.1% (steelmakers fall after STLD’s Q3 earnings outlook missed expectations)
– $DLR -2.0% (rate-sensitive stocks fall as Treasury yields edge higher)