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MARKET HIGHLIGHTS 

GOOD WEEK

Maxar Technologies
Shares of the satellite owner and operator surged 122% following news that private equity firm Advent International will acquire the company and take it private in a deal.  Maxar Technologies Inc. is a space technology company headquartered in Westminster, Colorado, United States, specializing in manufacturing communication, Earth observation, radar, and on-orbit servicing satellites, satellite products, and related services.

Meta Platforms
Shares of Meta Platforms rose 3.5% after a rare upgrade including better cost controls by management on both total expenses and capital expenditures, lessening sales impact from Apply IOS privacy changes and the company stands to compete more effectively against surging rival TikTok.

BAD WEEK

Goldman Sachs
Goldman Sachs shares slumped 1% amid news that the Wall Street firm will cut its workforce. The layoffs are to come in January 2023 and hit all areas of the Wall Street firm.

Lincoln National
Shares dropped more than 4% Lincoln National Corporation is a Fortune 200 American holding company, which operates multiple insurance and investment management businesses through subsidiary companies.  Lincoln Financial is adding a marketplace feature to its financial wellness program for participants in its plans that will connect individuals with partner companies that offer solutions to help improve financial wellness.

WHAT ELSE HAPPENED?

U.S listed China stocks 
Some China-based stocks listed on U.S. exchanges rose Friday. JD.com and Alibaba shares rose more than 1% . Electric vehicle stock Xpeng added more than 4%. It came as delisting concerns eased as the U.S. gained access to necessary audit documents.

Energy stocks
The energy sector was one of the biggest decliners in the S&P 500, falling 2% on the back of falling oil prices. Shares of Coterra Energy and APA Corp. were each down more than 4%. Halliburton was off about 3%. Marathon Oil dropped more than 2%.

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TRADING HIGHLIGHTS - 13 August 2022