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Muhammed Shefeeque
Mar 15, 2023 10:18AM ET
Market will be bullish
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Credit Suisse, First Republic fall premarket; Lennar rises
© 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.
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Comments (4)
Himanshu Mehta
Mar 15, 2023 10:08AM ET
ask India's ex RBI rockstar governor foe help
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John Bozanich
Mar 15, 2023 9:31AM ET
couldn't happen to a more horrible, miserable pos of a bank
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kaushal shah
Mar 15, 2023 9:23AM ET
this is all timepass with in 60 min of USA mkt opening bailout package is on the cards
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subhajit banerjee
Mar 15, 2023 9:23AM ET
what does it mean bailout package???
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