U.S. markets closed higher on Friday, although the momentum in the rally after soft consumer price inflation data seems to have paused. Investors and traders are now also considering the U.S. Federal Reserve officials’ harsh tone on inflation. Meanwhile, the following are the five stocks that are drawing retail investors’ attention today:
1. Tesla Inc TSLA: Shares of the EV-maker had closed 1.63% lower on Friday. Tesla had recalled about 30,000 Model X cars in the U.S. over airbag issues. The company said it would address the matter with an over-the-air software update and was unaware of any crashes, injuries or deaths due to the issue.
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2. Amazon.com, Inc AMZN: The retail giant has been grabbing headlines after its CEO Andy Jassy said there will be more "role reductions" at the e-commerce behemoth in early 2023 as the company leadership continues to "make adjustments." Jassy said in a letter to employees that Amazon's "annual planning process" will extend into the new year.
3. Advanced Micro Devices, Inc. AMD: AMD and Analog Devices, Inc. ADI have announced they have resolved all their ongoing patent litigations, based on mutually agreed upon terms, according to a statement on AMD’s website. The two companies have committed to pursue technology collaborations to bring next-generation solutions to their communications and data center customers, it said.
4. JM Smucker Co SJM: The company is set to announce its earnings on Monday. Shares of the Jif peanut butter maker surged over 7% in extended trading on Friday.
5. PaxMedica Inc PXMD: Shares of the clinical-stage pharmaceutical company closed 37.42% higher on Friday after it entered into an agreement that gives it the right to sell up to $20 million of its common stock to Lincoln Park over a 30-month period, subject to certain limitations.
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