Benzinga Pro's Top 5 Stocks To Watch For Friday, May 5, 2023: AAPL, AMC, WAL, KMX, PENN

Apple (AAPL) - Shares were up about 2% following better-than-expected quarterly results from Apple and news of a raised quarterly dividend and $90 billion buyback plan. To hear how analysts responded to Apple's results, tune into Benzinga's Stocks To Watch podcast around market open on Benzinga's Twitter.

AMC Entertainment (AMC) - The stock was up 4% amid a quarterly beat reported by AMC.

Western Alliance Bancorp (WAL) - Shares of Western Alliance, Comerica (CMA) and Zions Bancorp (ZION) were upgraded to the equivalent of a buy recommendation by analysts at JP Morgan. The analysts said "with too many on one side of the boat, we move to the middle."

CarMax (KMX) - A sympathy play following strong results out of peer in the used car space, Carvana (CVNA). While Carvana shares were up about 40% on the news, CarMax shares were down about 3% in Friday's pre-market session.

PENN Entertainment (PENN) - A sympathy play following good results out of peer in the sports betting space, DraftKings (DKNG). DraftKings shares were up about 14% while PENN shares were up about 3%.