Why Advanced Micro Devices, Inc. (AMD), Fiesta Restaurant Group Inc (FRGI) and salesforce.com, inc. (CRM) Are 3 of Today’s Best Stocks

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After tumbling Thursday, stocks rose Friday as the dollar fell. Earnings from the financial services sector, the second-largest sector weight in the S&P 500, boosted equities to close the week.

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The S&P 500 gained 0.02% while Dow Jones Industrial Average advanced 0.22%. The Nasdaq Composite added 0.02%.

Three of Friday’s best performers were Advanced Micro Devices, Inc. (NASDAQ:AMD), Fiesta Restaurant Group Inc (NASDAQ:FRGI) and salesforce.com, inc. (NYSE:CRM).

Advanced Micro Devices, Inc. (AMD)

Semiconductor maker Advanced Micro Devices, Inc. rose 4% on volume that was nearly 50% above the daily average after the company inked a deal with Chinese e-commerce giant Alibaba Group Holding Ltd (NYSE:BABA).

Alibaba’s cloud computing unit will use AMD technology to bolster data processing at its data centers, the companies said in a deal that was unveiled on Thursday. Alibaba hosts more than one-third of China’s web sites.

“The deal comes after AMD released new technology designed to support creation of real-time photorealistic virtual reality content,” according to CNBC.

Fiesta Restaurant Group Inc (FRGI)

On more than five times the usual volume, shares of Fiesta Restaurant Group Inc jumped 5.8% on speculation the restaurant operator could be up for sale.

FRGI, which owns the Pollo Tropical and Taco Cabana chains, is expected to share its financials with potential bidders soon, according to unidentified sources. Private equity firms could be among the possible suitors for FRGI, reports Bloomberg.

In recent months, FRGI saw a CEO retire and the company scrapped plans to separate the Taco Cabana business.

salesforce.com, inc. (CRM)

Cloud computing firm salesforce.com, inc. advanced 5.1% on more than double the usual volume on reports the company will not bid social media firm Twitter Inc (NYSE:TWTR).

CRM had previously been rumored as a potential suitor for Twitter, but that rumor died down last week as did speculation regarding other suitors moving on Twitter. CRM CEO Marc Benioff has confirmed that his company is not going to make a deal with TWTR.

Beinoff told the Financial Times there were multiple reasons TWTR was not right for CRM, including price and culture.

As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities.

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Todd Shriber has been an InvestorPlace contributor since 2014.


Article printed from InvestorPlace Media, https://investorplace.com/2016/10/advanced-micro-devices-inc-amd-fiesta-restaurant-group-inc-frgi-salesforce-com-inc-crm-3-todays-best-stocks/.

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