Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Credit Suisse, First Republic fall premarket; Lennar rises

Published 03/15/2023, 08:54 AM
Updated 03/15/2023, 09:11 AM
© Reuters.

© Reuters.

By Scott Kanowsky 

Investing.com -- Stocks in focus in premarket trade on Wednesday, March 15th. Please refresh for updates.

  • Shares in U.S. regional banks dropped, paring back gains notched on Tuesday, as a sell-off in European lenders freshened concerns over a potential banking crisis sparked by last week's collapse of Silicon Valley Bank. First Republic Bank (NYSE:FRC), Western Alliance Bancorporation (NYSE:WAL), Comerica Inc (NYSE:CMA), KeyCorp (NYSE:KEY), Zions Bancorporation (NASDAQ:ZION) and PacWest Bancorp (NASDAQ:PACW) all fell.
  • Larger banks, including Bank of America Corp (NYSE:BAC), Wells Fargo & Company (NYSE:WFC) and Morgan Stanley (NYSE:MS) also dipped into the red.
  • U.S.-listed shares in Credit Suisse Group (NYSE:CS) shed more than a fourth of their value and touched a fresh record low after its top stakeholder, Saudi National Bank, ruled out offering more assistance.
  • Apple Inc (NASDAQ:AAPL) shares slipped after key supplier Foxconn (TW:2354) said it plans to rely less on its operations in China in an earnings call.
  • Meta Platforms Inc (NASDAQ:META) shares are lower as the Facebook owner embarks on a new round of layoffs. The dismissals are part of cost-cutting measures planned in Chief Executive Mark Zuckerberg's so-called "year of efficiency."
  • Lennar Corporation (NYSE:LEN) rose after the homebuilder reported better-than-expected top- and bottom-line returns in its fiscal first quarter.

Latest comments

Market will be bullish
ask India's ex RBI rockstar governor foe help
couldn't happen to a more horrible, miserable pos of a bank
this is all timepass with in 60 min of USA mkt opening bailout package is on the cards
what does it mean bailout package???
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.