Stocks rose Tuesdayafterconsumer-level inflationin the U.S. continued to decline in February but investors remain tuned into thebanking crisis.
These stocks made moves Tuesday:
First Republic Bank gained 27% after closing nearly 62% lower on Monday. Thebank led shares of regional lenders downeven after U.S. authorities stepped in to backstop depositors following the collapses of Silicon Valley Bank and Signature Bank.Comerica(CMA) jumped 3.6% following a drop of 28% on Monday, while KeyCorp(KEY) gained 7% after tumbling 27.3% in the previous session. Shares of Charles Schwab(SCHW) were up 9.2%.
GitLab(GTLB), the DevOps software company, sank 24% after itsrevenue forecast for the fiscal first quarterand year missed analysts’ expectations.
AMC Entertainment fell 15% after shareholders of the movie-theater chain voted toincrease the company’s stock authorization and convert AMC Preferred Equity Units (ticker: APE) into AMC common shares. Shareholders also approved a 1-for-10 reverse stock split that was contingent on the APE measure passing.
Shares of Meta rose 7.3% after the parent of Facebook and Instagram announcedplans to cut another 10,000 jobs, as CEO Mark Zuckerberg presses his push for corporate efficiency in the face of slower revenue growth.
Momentive Global(MNTV) jumped 20% after the parent of Survey Monkeyagreed to be acquired by a group led by private-equity firm Symphony Technology Group for $9.46 a share, or about $1.5 billion.
BuzzFeed(BZFD) shares tumbled 26% after the digital media company posted a wider-than-expected loss for its fourth quarter.
Univar Solutions(UNVR), a chemical and ingredients distributor, rose 12% after it reached a deal to be acquired byApollo Global Management(APO) for about$8.1 billion, including debt.
Amylyx Pharmaceuticals(AMLX) shares rose 9.3% after the biotech postedfourth-quarter revenue that beat expectations.
Match Group rose 5.6% after the dating app company was upgraded to Overweight from Equal Weight by analysts at Barclays,who say it’s “swiping right on value.”
Uber rose 4.9% and Lyft(LYFT) gained 0.6% after a California appeals court said workers at the ride-hailing companies should continue to be treated asindependent contractors.
Comments