Stocks making the biggest moves midday: First Republic, UBS, Virgin Orbit, Dell and more
Publishing timestamp: 2023-03-20 16:43:31
Summary
First Republic's shares tanked after its credit rating was downgraded, while New York Community Bancorp jumped after its subsidiary acquired deposits and loan portfolios from Signature Bank. UBS agreed to buy Credit Suisse, causing the latter's shares to nosedive. US Bancorp's stock popped after an upgrade by Baird. Other regional banks rallied due to the likelihood of expanded deposit insurance. Virgin Orbit's stock fell as the rocket builder scrambled to secure funding. Dell's shares rose after Goldman Sachs initiated coverage with a buy rating. Enphase's shares advanced after an upgrade by Raymond James. TreeHouse Foods' shares jumped after UBS initiated coverage with a buy rating. Foot Locker's shares fell despite beating earnings and revenue estimates. Bed Bath & Beyond's meme stock tumbled after announcing a reverse stock split. Exelixis announced a $550 million share repurchase program, causing its stock to gain. Fleetcor Technologies' stock gained after announcing a review of its portfolio and business configuration. Amazon's stock slipped after announcing plans to cut more jobs.
Sentiment: MIXED
Tickers: FLT, AMZN, BBBY, KEY, ENPH, NYCB, VORB, DELL, FITB, ZION, USB, CSG.N-CH, FRC, THS, VORBW, CS, FL, EXEL, PACW, UBS, UBSG-CH,
Keywords: first republic bank, virgin orbit holdings equity warrant exp 29th dec 2026, fleetcor technologies inc, pacwest bancorp, new york community bancorp inc, business, us bancorp, breaking news: markets, markets, virgin orbit, credit suisse group ag, treehouse foods inc, enphase energy inc, bed bath & beyond inc, exelixis inc, economy, zions bancorporation na, foot locker inc, stock markets, business news, ubs group ag, amazon.com inc, fifth third bancorp, dell technologies inc, market insider, keycorp,
Source: https://www.cnbc.com/2023/03/20/stocks-making-the-biggest-moves-midday.html