Stocks making the biggest moves midday: Signature Bank, First Republic, Oracle and more
Publishing timestamp: 2023-03-10 12:38:49
Summary
Several companies saw their stock prices drop during midday trading on Friday. Allbirds, an footwear retailer, saw a 40% drop in shares after disappointing fourth-quarter results and a year-over-year sales decline. Oracle's stock dropped 3.2% following a mixed third quarter earnings report. Charles Schwab dropped 7.4% due to a broader investor selloff in financial companies. DocuSign's shares fell 19% after announcing the departure of its CFO and being downgraded by JPMorgan. Signature Bank, a bank to the cryptocurrency industry, fell 23% amid a selloff in bank stocks. Regional banks PacWest Bancorp, Western Alliance Bancorp, and First Republic Bank also posted major losses. Caterpillar's shares dipped 3% after being downgraded by UBS. Gap dropped over 6% after posting a big quarterly loss and weaker-than-expected guidance.
Sentiment: NEGATIVE
Tickers: ORCL, CAT, DOCU, FRC, SCHW, SBNY, WAL, GPS, ENPH, PACW, BIRD,
Keywords: allbirds inc, stock markets, market insider, docusign inc, caterpillar inc, breaking news, western alliance bancorp, gap inc, oracle corp, enphase energy inc, charles schwab corp, signature bank, breaking news: markets, markets, pacwest bancorp, business news, first republic bank,
Source: https://www.cnbc.com/2023/03/10/stocks-making-the-biggest-moves-midday-sbny-docu-orcl.html