A customer walks past an ATM outside of a First Republic Bank branch in Manhattan Beach, California, on March 13, 2023.
Patrick T. Fallon | AFP | Getty Images
Check out the companies making headlines in midday trading.
First Republic Bank — Shares of First Republic erased earlier losses and were last up about 22%. Sources told CNBC’s David Faber that a group of major financial institutions, including Goldman Sachs and Citigroup, were in talks to deposit roughly $20 billion into the beaten-down regional.
Credit Suisse Group — The Swiss bank’s U.S.-listed shares were up 2.5% after it announced it will borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. The stock is coming off a volatile trading session on Wednesday, during which it lost 13.9% after the Saudi National Bank, its largest investor, said it would not be able to provide additional funding.
UiPath — The stock surged 17.5% after the automation software company reported fourth-quarter adjusted earnings per share of 15 cents, beating the StreetAccount estimate of 6 cents per share. Revenue also topped expectations. After the results, UiPath was upgraded by Canaccord Genuity to buy from hold.
Signet Jewelers — Shares of the jeweler roared higher by 13% after the company posted earnings and revenue for the fourth quarter that beat analysts’ estimates. Signet also reported margins that were ahead of consensus and said it boosted its buyback by $263 million.
Snap — The Snapchat operator jumped more than 6% midday after Reuters reported that the Committee on Foreign Investment in the United States demanded that China’s ByteDance sell its interest in TikTok. A separate report by Bloomberg said TikTok is considering splitting from ByteDance if a deal with the U.S. fails.
Foot Locker — The athletic footwear retailer saw its shares climb about 5% after Telsey Advisory upgraded the stock to outperform and said it expects some tailwind benefits from a deeper focus on products,…
Read the full article here
