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Midday movers: Coinbase, Wynn Resorts, Alibaba and more

By Liz Moyer

Investing.com -- Stocks were mixed on Friday, taking a breather a day after a big rally as inflation numbers came in better than expected. Here are the midday movers for Nov. 11:

  • Coinbase Global Inc (NASDAQ:COIN) stock rose 10% after rival crypto exchange FTX filed for bankruptcy protection amid a liquidity squeeze that started last weekend. The price of Bitcoin stabilized but was still down nearly 3% on Friday to around $16,820.

  • Wynn Resorts Limited (NASDAQ:WYNN) stock jumped 8% after China relaxed some of its Covid-19 restrictions, including cutting two days off the quarantine rules for international travelers. That could potentially be a boost for its Macau gaming operations.

  • Alibaba Group Holdings Ltd ADR (NYSE:BABA) shares rose 1.7% as the Chinese e-commerce giant promoted its Singles' Day sales event. Fellow e-commerce firm JD.com Inc's (NASDAQ:JD) shares rose 6.4%.

  • Ralph Lauren Corp (NYSE:RL) shares rose 7.5% after the luxury fashion brand reported better than expected second-quarter results. It forecast 2023 revenue to rise 8%, though foreign exchange will be a challenge to growth.

  • LegalZoom.com Inc (NASDAQ:LZ) shares rose 9.3% after it posted a smaller-than-expected loss and raised its full-year outlook for revenue.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.