Midday movers: First Citizens BancShares, Novartis, Carnival Corp. and more
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- Amazon reportedly eyes ad-tier of Prime Video streaming service: WSJ
- Deutsche Bank, Wells Fargo expect US recession to start in Q4 2023
- Artificial Intelligence Won't Lead to 'Holy Grail' of Stock Market Predicting, Say Experts
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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.
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