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☆ Stocks making the biggest moves midday: First Republic, UBS, Virgin Orbit, Dell and more
▼ + stars: | 2023-03-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Check out the companies making the biggest moves midday:First Republic — Shares tanked nearly 30% after Standard & Poor's cut First Republic's credit rating to B+ from BB+. S&P first lowered the bank's rating to junk status just last week. UBS , Credit Suisse — U.S.-listed shares of Credit Suisse tanked 50.5% after UBS agreed to buy Credit Suisse for 3 billion Swiss francs, or $3.2 billion. UBS shares gained 4.7%. Exelixis — The stock gained 3.9% after the biotech company announced a $550 million share repurchase program to run through the end of 2023.

☆ Fed and other central banks try to head off crisis by boosting flow of dollars
▼ + stars: | 2023-03-19 | by ( Mark Thompson | ) edition.cnn.com time to read: +3 min

Credit Suisse — one of the 30 most important banks in the global financial system — was bleeding money last week after investor and customer confidence collapsed. Swap lines are agreements between two central banks to exchange currencies. They allow a central bank to obtain foreign currency from the central bank that issues it, and distribute it to commercial banks in their country. During the global financial crisis of 2008 following the collapse of Lehman Brothers, funding markets dried up because of an extreme aversion to risk. From Monday through at least the end of April, the Fed and other central banks will make dollars available on a daily basis, rather than weekly.

☆ This fund manager shorted Credit Suisse — and he's sticking with his bet
▼ + stars: | 2023-03-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

Barry Norris, fund manager at Argonaut Capital, said Saturday morning that he still expects Credit Suisse 's stock to become worthless. "If this happens we would expect [Credit Suisse] equity holders to get zero, deposit holders guaranteed and probably but not certain that bond holders will be made whole." Norris' Argonaut Absolute Return Fund fund delivered 11.3% in returns last year amid a year of losses for the broader stock market. Credit Suisse has had tumultuous few years, battling various scandals and controversies . Credit Suisse had invested heavily in Greensill and marketed its funds to clients, but the firm collapsed in 2021, leaving Credit Suisse and its customers with $1.7 billion in losses and reputational damage.

☆ Short sellers are doubling down on these European banks — and Credit Suisse isn't their top target
▼ + stars: | 2023-03-17 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Short-sellers are sitting on nearly $2 billion in profit from bets against the European banking sector this month so far. The worries heightened in Europe on Wednesday as Credit Suisse shares fell by 24% — its biggest daily loss. However, data shows that Credit Suisse — Switzerland's second-largest lender — doesn't even make the list of the top five most-shorted European Banks. BNP Paribas remains the biggest target for short-sellers, with $3.1 billion in total wagers expecting shares to fall. The following table shows the European lenders that saw the largest increase in shorts over the past 30 days.

☆ What caused the global banking crisis this week and will it lead to a recession?
▼ + stars: | 2023-03-17 | by ( Mark Thompson | ) edition.cnn.com time to read: +7 min

Silicon Valley Bank’s customers were frantically pulling their money from the California-based lender before US regulators intervened to take control. Thursday, March 16 — First Republic Bank was teetering on the brink as customers withdrew their deposits. In guaranteeing all deposits at Silicon Valley Bank and Republic Bank, the US Federal Reserve is on the hook for $140 billion. Then there’s the $54 billion the Swiss National Bank offered Credit Suisse in the form of an emergency loan. The $318 billion the Fed has loaned in total to the financial system is about half what was extended during the global financial crisis.

☆ Stocks making the biggest moves premarket: Nvidia, First Republic, FedEx and more
▼ + stars: | 2023-03-17 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

FedEx — Shares were up 11.6% after the company's fiscal third-quarter earnings topped analysts expectations. FedEx reported adjusted earnings of $3.41 per share, topping a Refinitiv consensus forecast of $2.73 per share. Credit Suisse — The Swiss bank's U.S.-traded shares were down 4.1% during premarket trading. Credit Suisse shares have had a volatile week after its largest investor announced it would not provide additional funding to the bank. First Republic Bank — Shares of the bank declined 13.3% during premarket trading.

☆ Stocks making the biggest moves midday: FRC, FDX, NVDA, BMBL & more
▼ + stars: | 2023-03-17 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Investors breathed a sigh of relief after the Swiss National Bank said it would provide a liquidity backstop for Credit Suisse. First Republic — The regional bank shares shed over 20% even after the company is set to receive aid from other financial institutions. Credit Suisse — U.S.-listed shares of the Swiss bank fell nearly 11% on Friday, a day after soaring on news the bank will borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. Warner Bros Discovery — The media company gained 2% after Wells Fargo upgraded the stock to overweight from equal weight. FedEx — The shipping company saw its stock jump over 8% after the company's fiscal third-quarter earnings topped analysts expectations.

☆ What analysts are saying about Credit Suisse after 'central bank bazooka' is unleashed
▼ + stars: | 2023-03-16 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Wall Street analysts were split on whether they should buy into Credit Suisse — though they found central bank support of the troubled Swiss firm reassuring. Earlier, the central bank said it would give Credit Suisse liquidity if necessary, saying the firm is well capitalized. On Wednesday, Credit Suisse shares tumbled 13.9% after the firm's largest investor, the Saudi National Bank, said it could not give more funding, driving fears of a banking crisis in Europe. However, following the decision to borrow from the central bank, JPMorgan's Roberto Henriques reiterated an overweight rating on the firm. The analyst expects that the "central bank bazooka" will assuage investors concerned over liquidity issues and give Credit Suisse enough time to roll out a restructuring plan.

☆ Stocks making the biggest premarket moves: Credit Suisse, Snap, Adobe, PagerDuty & more
▼ + stars: | 2023-03-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves in premarket trading:Credit Suisse — U.S.-listed shares of Credit Suisse gained nearly 6% after the Swiss bank said it will borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. Occidental Petroleum — Shares rose nearly 1% after Warren Buffett's Berkshire Hathaway bought another 7.9 million shares, totaling $466.7 million. Baidu — U.S. listed shares of Baidu sank nearly 6% after the Chinese tech company unveiled its ChatGPT alternative, Ernie bot. PagerDuty — Shares rallied nearly 6% after the digital operations management platform's earnings and revenue topped estimates for the fourth quarter. Adjusted earnings per share came in at 8 cents per share, versus the 2 cents expected, per Refinitiv.

☆ Stocks making the biggest moves premarket: Credit Suisse, Lennar, PacWest & more
▼ + stars: | 2023-03-15 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Axel Lehmann, chairman at Credit Suisse Group AG, speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, DC, on Friday, Oct. 14, 2022. Credit Suisse — Shares of Credit Suisse were down 21.5% after the firm's biggest backer, Saudi National Bank, said it won't provide it with further financial help. Credit Suisse and several other European banks, including Societe Generale , Italy's Monte dei Paschi and UniCredit , were halted from trading as prices plummeted. Bank of America , Morgan Stanley , Wells Fargo — Shares of larger financials were in lower early Wednesday as the Credit Suisse tumble sent ripples across the global banking sector. Bank of America lost 2.9%, Morgan Stanley dropped 3.2% and Wells Fargo declined by nearly 4.2%.

☆ Stocks making the biggest moves midday: Credit Suisse, First Republic Bank, Halliburton and more
▼ + stars: | 2023-03-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Credit Suisse — Shares of Credit Suisse plunged 25% after its biggest backer, Saudi National Bank, said it won't provide the Swiss bank with further financial help. First Republic Bank — The regional bank stock tumbled 23%, giving back some of Tuesday's gains as turmoil at Credit Suisse rattled the broader sector and S&P Global Ratings downgraded its debt rating to BB+ from A-. U.S. banks — Major U.S. banks tumbled on Wednesday as unease over the latest crisis at Credit Suisse spooked some investors. Energy stocks — Major energy stocks took a hit as oil stooped to its lowest level in more than a year. New York Community Bancorp — The regional bank stock jumped more than 5%, bucking the broader sell-off trend in banking names.

☆ Stocks making the biggest moves after hours: Credit Suisse, Adobe, UiPath and more
▼ + stars: | 2023-03-15 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Credit Suisse — Credit Suisse shares rallied almost 7% after a statement from the Swiss Financial Market Supervisory Authority and the Swiss National Bank said that the bank is currently well capitalized. Shares tumbled 13.9% during Wednesday's trading session after Credit Suisse's largest investor, Saudi National Bank, said that it could not provide the Swiss bank with any further financial assistance. The company reported adjusted earnings of $3.80 per share and revenue of $4.66 billion. Five Below reported revenue that topped Wall Street's expectations, according to Refinitiv, and earnings were in-line with estimates. PagerDuty — The digital operations management platform's stock gained 3% after reporting an earnings and revenue beat for the fourth quarter.

☆ Stocks making the biggest moves premarket: First Republic, Western Alliance, Uber, Lyft and more
▼ + stars: | 2023-03-14 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines before the bell:First Republic Bank — The San Francisco-based bank stock jumped 45% after closing down 61.8% on Monday. First Republic shares rose amid a broader rebound in regional bank stocks. Credit Suisse — The bank stock fell by about 1.6% after Credit Suisse said it had found "material weaknesses" in its financial reporting processes for 2022 and 2021. Honeywell International — Honeywell shares rose 0.4% after the conglomerate announced that Vimal Kapur, president and chief operating officer, will succeed Darius Adamczyk as CEO. Blackstone shares rose 1.8%.

☆ Stocks making the biggest moves midday: General Electric, Silvergate Capital, Peloton, Etsy and more
▼ + stars: | 2023-03-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Silvergate Capital — The crypto lender's stock sank 23% after the company announced it will wind down operations and liquidate Silvergate Bank. Revenue came in at $150.2 million, topping the $145 million expected. CEO Dustin Moskovitz also said he was buying 30 million shares. Revenue came in at $103.5 million compared to the $101.7 million expected. Adjusted earnings per share came in 1 cent ahead of estimates at 18 cents.

☆ Stocks making the biggest premarket moves: Silvergate, Etsy, SVB Financial, Uber and more
▼ + stars: | 2023-03-09 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the opening bell:Etsy — Shares fell more than 6% in premarket after Jefferies double-downgraded the online marketplace to underperform from buy. Silvergate Capital — Shares of the crypto lender tumbled 50% after the company announced it will wind down operations and liquidate Silvergate Bank. Uber — Shares of the ride-hailing company rose about 2% in premarket trading following a Bloomberg report that Uber is considering spinning off its freight logistics division. SVB Financial — The financial services company's stock dropped 30% after the firm announced that it intends to offer $1.25 billion of its common stock and $500 million of depositary shares. LoanDepot — The mortgage lender's shares shed over 10% after its fourth-quarter earnings report missed analysts' expectations.

☆ Stocks making the biggest moves midday: Snap, Apple, Boeing and more
▼ + stars: | 2023-03-06 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Apple — Shares advanced more than 3% after Goldman Sachs initiated coverage of the big technology stock as a buy. Credit Suisse — Shares were down about 1% after former top shareholder Harris Associates sold its entire stake in Credit Suisse, according to a Financial Times report. The Wall Street firm said the luxury housing market is struggling to stabilize, which will impact RH's business. The Wall Street firm said the derating of Emerson Electric is overdone. Domino's Pizza — Domino's Pizza shares advanced more than 4%.

☆ Credit Suisse touts drug stocks as a top place to be. These are our 2 favorites
▼ + stars: | 2022-11-18 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

Like the Club, Credit Suisse holds a positive view on Mounjaro — the company's diabetes drug that's shown immense promise as an obesity treatment, too — and Lilly's latest experimental Alzheimer's drug ahead of a pivotal data release expected next year. However, we differ on J & J, which will soon break itself up. The remaining J & J will be its current pharmaceutical and medical technologies divisions. Credit Suisse rates J & J as neutral with a $170 price target, which is nearly 4% below where the stock closed Thursday. A box of the drug trulicity, made by Eli Lilly Pharmaceutical, sits on a counter at a pharmacy in Provo, Utah, January 9, 2020.

☆ Credit Suisse shares are a 'steal,' say new Saudi backers after taking 9.9% stake
▼ + stars: | 2022-10-31 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Saudi National Bank, the kingdom's largest lender and majority-owned by the Saudi government, announced Wednesday that it was investing up to $1.5 billion in Credit Suisse — representing a stake of up to 9.9%. The bank is reportedly set to become the second-largest shareholder of Credit Suisse, second to Harris Associates. It also aims to cut its cost base by 15%, or 2.5 billion Swiss francs, by 2025. The SNB chairman cited Credit Suisse's investment banking unit as the Achilles' heel of the company, accentuated by the current climate of increased market volatility. "The biggest overhang for Credit Suisse, over the past couple of years ... has been the volatility of the performance of their investment bank," he told CNBC.

☆ Stocks making the biggest moves midday: Meta Platforms, ServiceNow, Teladoc, Credit Suisse & more
▼ + stars: | 2022-10-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

McDonald's — The fast-food giant's shares got a 2.8% lift after the company beat earnings expectations for its most recent quarter. Align Technology — The Invisalign maker saw its shares tumble 18% after it posted disappointing earnings for the most recent quarter. Credit Suisse — Shares of the Swiss bank plummeted 19.5% after Credit Suisse posted a greater-than-expected loss for the third quarter. ServiceNow — The stock jumped 13% after ServiceNow surpassed earnings expectations in its most recent quarter. Comcast — The media giant's stock rose 4.8% after topping analysts' earnings expectations for the third quarter.

☆ Stocks making the biggest moves midday: Roblox, Continental Resources, Fox Corp and more
▼ + stars: | 2022-10-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Fox Corp , News Corp — Fox shares dropped 8%, while News Corp gained more than 4% after Rupert Murdoch formed a special committee to explore a possible deal that would put his two media companies back together. Wells Fargo reiterated its equal weight rating on the streaming service ahead of the company's earnings this week. Speculative tech stocks — South American e-commerce stock Mercadolibre surged 11%, while Chinese tech stock Pinduoduo jumped more than 6%. Bank stocks — Several bank stocks moved higher Monday on positive earnings for the sector. Bank of NY Mellon gained 4.9% following its earnings beat and Signature Bank , set to report earnings on Tuesday, jumped 6%.

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