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Gnana Sekhar Vangara
Mar 16, 2023 9:58AM ET
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💎 Reveal Undervalued Stocks Hiding in Any Market Get Started
Credit Suisse, Adobe, PagerDuty and Snap rise premarket; First Republic falls
© Reuters.
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, March 16th. Please refresh for updates.
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Adobe (NASDAQ:ADBE) stock rose 5.5% after the software company lifted its annual guidance after reporting better-than-expected fiscal first quarter results, driven by growth in its core digital media business.
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Credit Suisse (NYSE:CS) stock rose 5.6% after the troubled lender received a SWF 50 billion support line from the Swiss National Bank (TADAWUL:1180), with the central bank adding that the Zurich-based bank met all the standards for liquidity and capital that apply to systemically crucial banks.
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First Republic (NYSE:FRC) stock fell 26.1%, PacWest Bancorp (NASDAQ:PACW) stock fell 15.8%, and Zions Bancorporation (NASDAQ:ZION) stock fell 3.3%, as worries continue to beset the smaller regional U.S. banks.
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Virgin Orbit (NASDAQ:VORB) stock fell 38.6% after the satellite launch company was forced to pause operations as it searched for potential funding after a cash crunch.
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Snap (NYSE:SNAP) stock rose 5.8% and Meta Platforms (NASDAQ:META) stock rose 1.39% on reports the Biden administration has demanded that TikTok's Chinese owners divest their stakes in the popular video app or face a possible U.S. ban.
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Dollar General (NYSE:DG) stock fell 1.6% after the discount store chain missed market estimates for quarterly same-store sales as customers curtailed discretionary spending amid stubbornly high inflation.
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Five Below (NASDAQ:FIVE) stock fell 3.1% after the discount retailer’s first quarter guidance came in short of expectations, outweighing healthy numbers during the fourth quarter.
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PagerDuty (NYSE:PD) stock rose 7.3% after the cloud computing company beat earnings and revenue expectations in its most recent quarter, helped by strong customer growth across the board.
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Comments (6)
Derick Lim
Mar 16, 2023 9:08AM ET
Don't worry....all the fallen stocks eyill rebound after lunch......
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tom kazz
Mar 16, 2023 8:52AM ET
Democrats and China Joe destroying America
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Chad Richer Than You
Mar 16, 2023 8:48AM ET
Want to hear a joke? American manufacturing
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Brad Albright
Mar 16, 2023 8:48AM ET
It's true we wasted 4 years sitting in our hands waiting for Trump's infrastructure week. But if you aren't aware of the domestic manufacturing renaissance taking place now in the US, you aren't paying attention.
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Dub Deason Deason
Mar 16, 2023 8:48AM ET
Brad Albright Renaissance specifically where and what?
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Brad Albright
Mar 16, 2023 8:48AM ET
New domestic EV manufacturing, new EV battery plants, new and expanded semiconductor plants. Ohio, North Carolina, Texas, California, South Carolina, Alabama. 400,000 new manufacturing jobs last year.
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John Healy
Mar 16, 2023 8:36AM ET
I’m going on a shopping spree. Totally on credit. Maybe buy an $85k GMC Sierra - loaded, of course. I’ll need an 84 month loan after my tiny down pay. Take a few vacations. Maybe take out some huge student loans to pay for a low-return liberal arts degree from a non-accredited private institution. You know, generally follow the reckless examples of my government and major banking institutions. I expect my imprudence to be rewarded by loan forgiveness, bailouts, “lifelines” (whatever that means), and, if all else fails, more credit. Thanks to the federal government for showing me the way to prosperity!
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Nicholas Segalle
Mar 16, 2023 8:36AM ET
🤣
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TheDonger420
Mar 16, 2023 8:36AM ET
Wax poetically my friend.
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Mitchel Pioneer
Mar 16, 2023 8:12AM ET
The criminally manufactured support of the laughingstock of the investing world continues. NASDAQ, most grossly overvalued stock market index in the world, is back in the green. Manipulated JOKE.
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