Midday movers: First Republic, Tesla, Foot Locker and more

March 21, 2023 2:44 PM EDT

By Liz Moyer -- Stocks were rising on Tuesday as investors looked ahead to the Fed's interest rate decision, which is widely expected to be an increase of a quarter of a percentage point. Here are the midday movers for March 21.

  • First Republic Bank (NYSE: FRC) shares rebounded, up more than 53% and leading a rise in regional bank stocks. Shares of KeyCorp (NYSE: KEY) rose 9% and shares of PacWest Bancorp (NASDAQ: PACW) rose more than 20% after Treasury Secretary Janet Yellen said regulators could intervene again to shore up the banking system if another small bank experiences a run on deposits such as what happened at Silicon Valley Bank.

  • Tesla Inc (NASDAQ: TSLA) shares rose 6.8% after Moody's upgraded the electric vehicle maker to investment grade, saying it is the sector's foremost manufacturer.

  • Foot Locker Inc (NYSE: FL) shares were up 7% after the footwear and apparel retailer caught a Buy rating from Citi as new CEO Mary Dillon makes her mark on the company.

  • Harley-Davidson Inc (NYSE: HOG) shares were up 5.3% after the motorcycle maker was upgraded by Morgan Stanley to Overweight, saying the company‚Äôs focus on its main business can see the stock rise 30%.

  • On Holding Ltd (NYSE: ONON) shares jumped 27% after the footwear maker beat estimates with a 91% jump in fourth-quarter fiscal year 2022 net sales compared with the prior year.

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