By Liz Moyer
Investing.com -- Stocks were mostly higher as banks helped lift the indexes, though rising Treasury yields weighed on tech stocks. Here are the midday movers for March 27.
- First Citizens BancShares Inc (NASDAQ:FCNCA) jumped 50% on Monday after it struck a deal with banking regulators to acquire parts of Silicon Valley Bank, including deposits and branches. Other bank shares reacted positively. First Republic Bank (NYSE:FRC) stock was up 12%, and KeyCorp (NYSE:KEY) and M&T Bank Corp (NYSE:MTB) rose 5% and 2.3%, respectively after those two stocks were upgraded to Buy by Citi.
- Novartis AG ADR (NYSE:NVS) shares rose 8% after the pharmaceutical company said it had positive results from a test of its breast cancer drug in combination with endocrine therapy.
Carnival Corporation (NYSE:CCL) shares fell 5% after the cruise ship operator beat expectations and reported record bookings but gave an outlook for the second quarter and full year that disappointed.
- BioNTech SE (NASDAQ:BNTX) shares dipped 1.4% after the COVID-19 vaccine maker said it saw lower-than-expected revenue this year because of waning demand for the vaccine.
Coinbase Global Inc (NASDAQ:COIN) shares tumbled 10% after the Commodity Futures Trading Commission filed a lawsuit against crypto exchange Binance, saying its compliance operations had been ineffective.