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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