Midday movers: Activision Blizzard, Deutsche Bank, Scholastic and more

March 24, 2023 1:00 PM EDT

By Liz Moyer -- Stocks cut some of their earlier losses but investors continued to express concern about the banking system. Here are the midday movers for March 24.

  • Activision Blizzard, Inc. (NASDAQ: ATVI) shares rose 5% after the U.K. regulatory authorities narrowed the scope of their competition review of the game maker's acquisition by Microsoft (NASDAQ: MSFT). The regulators aren't worried about the deal's effect on the game console market but are still reviewing cloud gaming.
  • Deutsche Bank AG (NYSE: DB) shares were down 5% but off their lows amid concerns about the banking system. Other large bank stocks were also down, including JPMorgan (NYSE: JPM), down 2.2%; Citigroup (NYSE: C), down 2.3%; and Wells Fargo (NYSE: WFC), down 2.5%.
  • Scholastic Corporation (NASDAQ: SCHL) shares were down 22% after the children's publishing and media company reported a fiscal third quarter loss that was bigger than one year ago and provided a disappointing outlook.

  • Nelnet, Inc. (NYSE: NNI) shares were down 1.6% after the federal student loan servicer said a revised government contract would cut into its price per borrower. It announced it would lay off more than 500 workers.
  • Torrid Holdings Inc. (NYSE: CURV) shares rose 23.1% after the clothing retailer reported fourth quarter revenue that beat expectations. The company also reported a narrower loss in the holiday quarter compared with a year earlier.

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