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

Stock Markets Mar 17, 2023 08:09AM ET
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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.

FedEx, Nvidia and Bumble rise premarket; First Republic, Credit Suisse fall
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Comments (7)
Chad Richer Than You
Chad Richer Than You Mar 17, 2023 9:24AM ET
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Hyperinflation currency crisis is coming. Rest of the world has had enough of the USA reckless monetary policy
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James Long
FauxNews Mar 17, 2023 9:20AM ET
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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 ??
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Brad Albright
Brad Albright Mar 17, 2023 9:20AM ET
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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.
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Derick Lim
Derick Lim Mar 17, 2023 9:01AM ET
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Dotcom burst 1995...... Subprime crisis 2017.......Bank Bang 💥 2023.......
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gary leibowitz
gary leibowitz Mar 17, 2023 8:55AM ET
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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.
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Brad Albright
Brad Albright Mar 17, 2023 8:55AM ET
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A repeat of 1000 years ago? You mean the disintegration of the Caliphate of Cordoba?
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Warm Camp
Warm Camp Mar 17, 2023 8:49AM ET
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US banks have been nationalized already. A national-socialist system.
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Mitchel Pioneer
Mitchel Pioneer Mar 17, 2023 8:42AM ET
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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.
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Devin Nathaniel
Devin Nathaniel Mar 17, 2023 8:26AM ET
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Lehman moment again
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