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FedEx, Nvidia and Bumble rise premarket; First Republic, Credit Suisse fall

AuthorPeter Nurse
Published 03/17/2023, 07:31 AM
Updated 03/17/2023, 08:09 AM
© Reuters.

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, March 17th. Please refresh for updates.

  • First Republic Bank (NYSE:FRC) stock fell 13% with the regional bank continuing to struggle even after a group of major banks deposited $30 billion in a vote of confidence.

  • FedEx (NYSE:FDX) stock soared 11% after the delivery giant lifted its guidance after reporting third-quarter earnings that markedly beat expectations as its ongoing efforts to cut costs helped offset ongoing demand weakness.

  • Merck (NYSE:MRK) stock fell 0.7% after the pharmaceutical company revealed disappointing trial results from one of its metastatic non-small cell lung cancer drugs.

  • Nvidia (NASDAQ:NVDA) stock rose 1.7% after Morgan Stanley upgraded its stance on the software company to ‘overweight’ from ‘equal-weight’, citing growing excitement around artificial intelligence.

  • Alphabet (NASDAQ:GOOGL) stock fell 0.6% after the Google-owner announced a price increase for its YouTube TV subscription, citing increased content costs.

  • Microsoft (NASDAQ:MSFT) stock rose 0.6% after a filing showed the software giant has offered remedies in an attempt to gain EU antitrust approval for its $69 billion acquisition of Activision (NASDAQ:ATVI).

  • Bumble (NASDAQ:BMBL) stock rose 0.9% after Citigroup initiated coverage of the online dating site with a ‘buy’ rating, expecting it to gain market share.

  • Credit Suisse (NYSE:CS) stock fell 6.9% after Bloomberg reported that the lender had rebuffed a suggestion from Swiss regulators that its much larger rival UBS (SIX:UBSG) take it over.

Latest comments

Hyperinflation currency crisis is coming. Rest of the world has had enough of the USA reckless monetary policy
We have a FED which was created by a group of private elite uber-rich guys and given the authority to print money not backed by anything tangible. Additionally, they have sole power to control interest rates and thus our livelihoods. What could possibly go wrong ??
The US dollar is backed by the full faith and credit of the United States of America. A standard untouched by any other country in the history or the world.
Dotcom burst 1995...... Subprime crisis 2017.......Bank Bang 💥 2023.......
Insane how no one saw this coming. I did and write about it.  40 years of disinflation, easy money, disbanded rules and regulations and a FED that always rewards bad decisions.  The Fed Funds is considered average historically.  We are witnessing the repeat of 1000 years ago. It will soon get very ugly.
A repeat of 1000 years ago? You mean the disintegration of the Caliphate of Cordoba?
US banks have been nationalized already. A national-socialist system.
The pre-market losses are being contained, as Wall Street prepares to unleash their criminal manipulation on FRAUDULENT Friday.  Another day of miracles and magic is on tap.
Lehman moment again
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