4 stocks to watch on Friday: Estee Lauder, Medical Properties and more
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U.S. stock index futures pointed to a lower open on Friday as surging Treasury yields continue to pressure stocks, with traders now increasingly convinced that interest rates will likely remain high for longer than previously expected. 
Here are some stocks to watch on Friday: 

Estee Lauder (NYSE:EL) fell 6.5% in premarket trade despite reporting Q2 earnings beat, as the cosmetics maker issued a disappointing FY forecast, reflecting slower-than-expected improvement in Asia travel retail sales and weak U.S. demand amid inflationary pressures. EL aims to return to net sales growth in FY24.
Chinese stocks are in focus, after the world's most indebted property developer China Evergrande (OTC:EGRNF) filed for bankruptcy in the U.S. The development has ramped up concerns over China's property crisis and its knock-on effects on an already-struggling economy. The news dragged Chinese U.S.-listed shares lower premarket, including JD.com (JD) -4.5%, Alibaba (BABA) -3.2%, Tencent Music Entertainment (TME) -3.1% and Baidu (BIDU) -2.4%.
Medical Properties Trust (NYSE:MPW) rose 1.9% before the bell as the REIT offloaded $105M of its interest in Steward Health Care System's asset-backed credit facility. Steward, one of MPW's top tenants, refinanced the credit facility in Q2 and MPW had elected to invest up to $140M. "Investors would like to see MPW get out of the business of lending money to tenants," said Investing Group Leader Brad Thomas.
Applied Materials (AMAT) initially ticked up 0.4% before market open as the semiconductor gear maker's Q3 results and guidance handily topped estimates. While several Wall Street analysts praised AMAT's strength in mature products, a few flagged potential near-term issues around memory. The stock is now down 0.4%.

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