Benzinga Pro's Top 5 Stocks To Watch For Friday, October 28, 2022: CS, AIMC, MBLY, USER, SHOP
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Credit Suisse (CS) - Switzerland's second largest bank announced a Q3 loss of $4 billion, a "radical" restructuring plan including renaming a section of the bank to "First Boston", and plans to cut 9,000 jobs on Thursday. Share price dropped hard on the combination of news.
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Altra Industrial Motion (AIMC) - A US-based electromechanical power transmission company that manufactures parts and components for controls agreed to a cash acquisition deal from Regal Rexnord Corp. (RRX) that sent the share price flying higher on Thursday. Regal experienced a decline in share price.
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Mobileye Global (MBLY) - After spinning off from Intel Corporation (INTC), shares of driver assistance and autonomous driving technology company Mobileye popped on Thursday. Additionally there was an anonymously sourced rumor published by Reuters on Thursday that Volkswagen (VWAGY) would be partnering with Mobileye on automated driving.
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User Testing (USER) - Announced it entered into an agreement to be acquired by private equity giant Thoma Bravo on Thursday at a price of $7.50 per share. Share price skyrocketed from $3.85 to $7.48 then settled slightly lower.
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Shopify (SHOP) - The company announced an earnings beat on Thursday with a 17% bump in share price, but pre-market on Friday, trading showed some volatility as share price fluctuated in the negative.