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💎 Reveal Undervalued Stocks Hiding in Any Market Get Started

First Republic, PacWest rise premarket; United Airlines, BuzzFeed fall

Stock Markets Mar 14, 2023 09:01AM ET
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By Scott Kanowsky

Investing.com -- Stocks in focus in premarket trade on Tuesday, March 14th. Please refresh for updates.

  • Shares in regional U.S. banks rose, but any rebound hopes were tempered by a warning from Moody's Investor Service about the stability of their funding bases and the paper losses that have accumulated in their bond portfolios. 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 rallied.

  • Larger banks, including Bank of America (NYSE:BAC), Wells Fargo & Company (NYSE:WFC) and Morgan Stanley (NYSE:MS), also climbed.

  • BuzzFeed, Inc. (NASDAQ:BZFD) shares dipped after the digital news site said much of its cash had been held by failed lender Silicon Valley Bank.

  • Ride-sharing apps Uber Technologies, Inc. (NYSE:UBER) and Lyft, Inc. (NASDAQ:LYFT), as well as delivery service DoorDash, Inc. (NYSE:DASH), all saw their shares rise in premarket U.S. trading on Tuesday after a California appeals court ruled that the companies can continue to treat their workers as independent contractors.

  • United Airlines Holdings, Inc. (NASDAQ:UAL) shares slumped after the carrier flagged that it expects to report a loss in the first quarter because of costs related to a deal with the pilots union and weaker travel demand at the beginning of 2023.

First Republic, PacWest rise premarket; United Airlines, BuzzFeed fall
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Derick Lim
Derick Lim Mar 14, 2023 9:08AM ET
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All IB call for rate pause due to financial instability fear.....seems those IB analyts are full of 🐂💩
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