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☆ Stocks making the biggest moves premarket: Super Micro Computer, Deckers Outdoor, Macy's and more
▼ + stars: | 2024-03-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Super Micro Computer , Deckers Outdoor — Shares of Super Micro Computer and Deckers Outdoor jumped 12% and 5%, respectively, after S & P Dow Jones Indices said Friday the two companies would be added to the S & P 500 later this month. They will replace Whirlpool and Zion Bancorp, which will move to the S & P MidCap 400 index as of the March 18 open. Macy's — Macy's stock skyrocketed nearly 17% after Arkhouse Management upped its buyout offer for the department store chain to $24 from $21 a share, or about $6.6 billion. Crypto stocks – Companies whose performance is tied to the price of bitcoin rose in premarket trading after the cryptocurrency touched another two-year high . Spirit AeroSystems , Boeing — Shares of the fuselage maker rose nearly 3%.

Persons: Dow, CleanSpark, AeroSystems, Lyft, Morgan Stanley, Li Auto, Piper Sandler, Brian Mullan, — CNBC's Lisa Han, Fred Imbert, Tanaya, Hakyung Kim, Jesse Pound, Michelle Fox Organizations: Micro Computer, Dow Jones, Whirlpool, Zion Bancorp, Arkhouse Management, Apple, European Commission, Marathon, Iris Energy, RBC, Boeing —, Boeing, Max, —, Citi, Li Auto, Li, Mobile

Johnson & Johnson Covid-19 vaccines are seen on a table on May 7, 2021 in Los Angeles, California. Johnson & Johnson —The stock jumped 6%, lifting the 30-stock Dow Jones Industrial Average, after the the health care posted second-quarter revenue and adjusted earnings that topped Wall Street's expectations. Johnson & Johnson also lifted its full-year guidance as sales from the company's medtech business jumped. Discover Financial Services — Shares tumbled 14% after the company's second-quarter results missed analysts' estimates on both top and bottom lines. MarketAxess — The electronic trading platform rallied 5.6% after releasing its second-quarter results.

Persons: Johnson, Johnson Covid, Tesla, Abbott, Zions, Estee Lauder, StreetAccount, —, Yun Li, Jesse Pound, Samantha Subin, Michelle Fox Organizations: Netflix, Refinitiv, American Airlines –, American Airlines, IBM, Johnson, Dow Jones, Abbott, Discover Financial, Federal Deposit Insurance, Barclays Locations: Los Angeles , California, China, Freeport

☆ PacWest, Western Alliance lead rebound in US regional lenders
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

May 18 (Reuters) - Battered shares of PacWest Bancorp and Western Alliance Bancorp edged higher premarket on Thursday as the U.S. midsize lenders looked to sustain a recent rebound powered by bets that the worst of the regional banking turmoil was over. PacWest Bancorp (PACW.O), which is currently exploring strategic options, climbed 7.2% and was set to build on a 22% gain recorded for the week till Wednesday. Shares of Western Alliance (WAL.N) climbed 7.2%, also poised to extend their near 27% surge this week after the Phoenix-based lender reported strong deposit growth in an attempt to reassure investors of its financial health after three regional lenders failed in recent months. The KBW Regional Banking Index (.KRX) jumped 7.2% on Wednesday, recording its biggest percentage gain in nearly two years. Among other movers on Thursday, Zion Bancorp (ZION.O) climbed 2.6% and First Horizon (FHN.N) added 2.4%.

☆ PacWest leads losses in regional bank stocks
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +2 min

May 9 (Reuters) - Shares of PacWest Bancorp (PACW.O) looked set to lead declines in U.S. regional lenders at market open on Tuesday as investors feared the ongoing banking crisis could deepen. The KBW Regional Banking Index (.KRX) hit a 30-month low last week after the collapse of First Republic Bank and PacWest's decision to explore strategic options. PacWest and Western Alliance, which have been at the heart of the sell-off in regional banks, saw the steepest decline in deposits in the first quarter after First Republic, according to S&P Global Market Intelligence data. Western Alliance (WAL.N) dropped 1.5%, while First Horizon Corp (FHN.N) and Zion Bancorp (ZION.O) dipped 0.1% and 0.3%, respectively, with Arfstrom noting that the pullback in banks shares overall have made their valuations attractive. Wall Street executives and bank analysts last week called on regulators to quickly provide more protection for bank deposits and consider other backstops, arguing only an intervention could stop the crisis.

☆ PacWest, Western Alliance lead slide in regional bank stocks
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +2 min

May 9 (Reuters) - Shares of regional lenders PacWest Bancorp (PACW.O) and Western Alliance (WAL.N) resumed their slide in premarket trading on Tuesday as investors feared the ongoing banking crisis could deepen. PacWest dropped 13.6%, a day after the Los Angeles-based lender's decision to cut its quarterly dividend failed to stem worries about its financial stability. The KBW Regional Banking Index (.KRX) had last week touched 30-month lows after the collapse of First Republic Bank and PacWest's decision to exploring strategic options. PacWest and Western Alliance, which have been at the heart of the banking selloff, saw the steepest decline in deposits in the first quarter after First Republic, according to S&P Global Market Intelligence data. Reporting by Medha Singh in Bengaluru, additional reporting by Bansari Mayur Kamdar; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Why bank stocks are so unstable
▼ + stars: | 2023-05-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

New York CNN —The financial sector has been churning in rough water since the shocking collapse of Silicon Valley Bank in March. Bank insiders see this and have been buying up shares of regional lenders, according to a report by Timothy Coffey, an analyst at Janney Montgomery Scott. The Oracle of Omaha said he remains cautious about holding bank stocks and that he has reduced his own exposure to the sector. The S&P 500 financial sector, however, is down more than 12% over the same period. Economists were hoping that this year would bring better news, but instead 2023 brought the collapse of three US regional banks and a subsequent lending squeeze.

☆ US regional lenders eke out gains after brutal sell-off
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +2 min

May 5 (Reuters) - Shares of U.S. regional lenders rose in premarket trading on Friday following a brutal sell-off during the week that saw First Republic Bank collapse and peer PacWest Bancorp (PACW.O) explore strategic options. The KBW Regional Banking Index (.KRX) has plunged about 31% this year as the sector grapples with deepening investor concerns with billions in market value wiped in recent weeks. PacWest, whose shares have plummeted 86% this year, said late on Wednesday it was in talks with potential partners and investors as it weighs strategic options. Shares of the bank plunged to close down 33%. Reporting by Manya Saini in Bengaluru; additional reporting by Amruta Khandekar Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

May 3 (Reuters) - PacWest Bancorp (PACW.O) is exploring strategic options including a sale or capital raising, a source familiar with the matter said, sending the shares of the bank and several other U.S. regional lenders tumbling in after-market trading. The Phoenix-based regional lender said it was "reaffirming its financial strength as well as its deposit growth guidance in response to recent industry events." PacWest stock has lost almost 90% of its value since the regional banking crisis started on March 8. Zion Bancorp (ZION.O), First Horizon (FHN.N) and Comerica (CMA.N) each slumped more than 7% and the SPDR S&P Regional Banking ETF (KRE.P) dropped 5%. The cost of insuring against further losses in regional U.S. bank stocks stood on Wednesday near a one-month high in options markets.

As each domino falls, the next weakest bank begins to wobble," billionaire investor Bill Ackman wrote in a tweet. PacWest stock has lost almost 90% of its value since the regional banking crisis started on March 8. Zion Bancorporation (ZION.O), Comerica (CMA.N) and First Horizon (FHN.N) each slumped more than 7% and the SPDR S&P Regional Banking ETF (KRE.P) dropped 5%. The cost of insuring against further losses in regional U.S. bank stocks stood on Wednesday near a one-month high in options markets. On Wednesday a source said the lender was looking at options that include a potential sale or capital raise.

☆ PacWest tumbles on weighing options, other U.S. regional bank stocks fall
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +2 min

May 4 (Reuters) - Shares of U.S. regional banks fell premarket on Thursday, hurt by a 37% slump in PacWest Bancorp (PACW.O) after its announcement about exploring strategic options spurred market concerns of a worsening banking crisis. Zion Bancorporation (ZION.O), KeyCorp (KEY.N), Valley National Bancorp (VLY.O), Comerica (CMA.N) and First Horizon (FHN.N) dropped between 2% and 6%. The SPDR S&P Regional Banking ETF (KRE.P) shed 2.8%. The slide in shares of PacWest and its peers highlights uncertainty around the health of regional banks despite regulatory efforts to call an end to the banking crisis that started with the collapse of Silicon Valley Bank and Signature Bank in March. PacWest Bancorp reported a loss of $1.1 billion attributed to shareholders for the first quarter of the year.

☆ PacWest, Western Alliance hit as US banking concerns widen
▼ + stars: | 2023-05-04 | by ( Medha Singh | ) www.reuters.com time to read: +3 min

PacWest (PACW.O) slumped 37% in premarket trade, after having lost 29% since Monday. Reuters had reported on Wednesday that PacWest was exploring strategic options including a potential sale or capital raising, which the lender confirmed late in the day. Zion Bancorporation (ZION.O), KeyCorp (KEY.N), Valley National Bancorp (VLY.O), Comerica (CMA.N) and First Horizon (FHN.N) dropped between 2% and 6%. The SPDR S&P Regional Banking ETF (KRE.P) shed 2.8%. PacWest Bancorp reported a loss of $1.1 billion attributed to shareholders for the first quarter of the year.

☆ Morning Bid: Bond blows batter banks as SVB cracks
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +5 min

SVB may be an unusual case in point - given its exposure to both last year's attrition in the tech sector, related startups and bond markets. Major U.S. banks were also hit, with Wells Fargo (WFC.N) down 6%, JPMorgan (JPM.N) down 5.4%, Bank of America (BAC.N) 6% lower and Citigroup (C.N) 4% lower. In currency markets, the dollar held the line on Friday in its lonely easy monetary policy stance. The BOJ held off making changes to its controversial bond yield cap policy, leaving all options open ahead of a leadership transition in April. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Banks tumble as SVB ignites broader fears about the sector
▼ + stars: | 2023-03-09 | by ( Sinéad Carew | ) www.reuters.com time to read: +2 min

The SPDR S&P regional banking ETF (KRE.P) was down 6.0% after hitting its lowest point since January 2021. "The Silicon Valley raise got everybody nervous about people's capital levels and what deposits are doing. "It just gets people freaked out because Silicon Valley, historically has been a very strong, well-run bank. If they're having issues right now, people are wondering what about other banks that are lesser quality and that don't have the reputation that Silicon Valley Bank has." Investors were also grappling with the decline of cryptocurrency-focused lender Silvergate Capital (SI.N), which said earlier this month it was evaluating its ability to operate as a going concern.

☆ Silicon Valley Bank scrambles to reassure clients after 60% stock wipe-out
▼ + stars: | 2023-03-09 | by ( ) edition.cnn.com time to read: +5 min

SVB Financial Group scrambled on Thursday to reassure its venture capital clients their money was safe after a capital raise led to its stock collapsing 60% and contributed to wiping out over $80 billion in value from bank shares. SVB, which does business as Silicon Valley Bank, launched a $1.75 billion share sale on Wednesday to shore up its balance sheet. Investors in SVB’s stock fretted over whether the capital raise would be sufficient given the deteriorating fortunes of many technology startups that the bank serves. The company’s stock collapsed to its lowest level since 2016, and after the market closed shares slid another 26% in extended trade. However, the Information publication reported the bank told four clients that transfers could be delayed.

☆ Earnings could keep the market on edge in week ahead as investors wait for Fed
▼ + stars: | 2023-01-20 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

I do think that will happen even more in the week ahead as the Fed is in a blackout period. S & P Global PMI data is released for both services and manufacturing Tuesday. "The market continues to think the Fed does not have to administer as much medicine as the Fed tells us they plan to. Earnings, earnings, earnings Stocks were lower in the past week, with the S & P 500 off by 1.8%. "It's a mild earnings recession, but it's an earnings recession.

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