A customer walks past an ATM outside a First Republic Bank branch in Manhattan Beach, Calif., March 13, 2023.
Patrick T. Fallon | AFP | Getty Images
Check out the companies in the spotlight on the midday deal.
First Republic Bank — First Republic’s stock price erased previous declines, rising about 22%. Sources told CNBC’s David Faber that Goldman is in talks with a group of major financial institutions, including Sachs and Citigroup, to deposit about $20 billion in the stricken region. .
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Credit Suisse Group — Swiss Bank’s US-listed shares rose 2.5% after it announced it would borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. The stock came out of Wednesday’s volatile trading session, falling 13.9% after its biggest investor, the Saudi National Bank, said it could not provide additional funds.
UiPath — After the automation software company reported fourth-quarter adjusted earnings of 15 cents per share, the stock surged 17.5%, beating StreetAccount’s estimate of 6 cents per share. Earnings also exceeded expectations. As a result, UiPath has been upgraded to buy from hold by his Canaccord Genuity.
signet jewelers — The company’s shares surged 13% after reporting fourth-quarter earnings and earnings that beat analyst expectations. Signet also reported above-consensus margins and said he boosted share buybacks by $263 million.
snap — Snapchat operators surged more than 6% at noon after Reuters reported that the U.S. Foreign Investment Commission had called on China’s ByteDance to sell its interest in TikTok, according to another Bloomberg report. says it is considering separating from ByteDance if the deal with the US fails.
foot locker — The athletic shoe retailer sees its share price rise about 5% after Telsey Advisory upgrades to outperform its stock, boosting its product, brand partnerships, retail footprint and e-commerce. He said he expects a tailwind from a greater focus on investing in .
Adobe — The software maker saw its shares rise nearly 5% after it posted first-quarter results that beat Wall Street expectations. Adobe also raised its full-year revenue and net new recurring revenue forecasts from its digital media business.
progressive — After Wells Fargo upgraded from underweight to overweight, the insurer’s shares rose 4%. Wells said the company has defensive attributes in a tough macro environment.
Motorola Solutions — The telecom equipment company rose 3% after JP Morgan upgraded it from neutral to overweight. Wall Street firms said their stocks had fallen to attractive levels.
Occidental Petroleum — After Warren Buffett’s Berkshire Hathaway bought 7.9 million shares in the company, oil stocks surged about 2%, outperforming the S&P 500 energy sector. His average purchase from Monday to Wednesday was $59.17, and his total was $466.7 million. Berkshire now owns 23.1% of Occidental.
Live Person — The artificial intelligence company saw its share price plunge more than 50% after disappointing fourth-quarter earnings and announcing full-year guidance that fell short of Wall Street expectations. Management cited a highly frictional macro environment in the sales cycle.
— CNBC’s Michelle Fox, Jesse Pound, Sarah Min, and Hakyung Kim contributed to the report
