Silvergate, Etsy, JD.com and MongoDB fall premarket; Hilton, Uber rise
By Peter Nurse
Investing.com -- Stocks in focus in premarket trade on Thursday, March 9th. Please refresh for updates.
JD.com (NASDAQ: JD) ADRs fell 5.9% after the Chinese e-commerce firm missed fourth quarter revenue expectations with COVID lockdowns pressuring spending.
Silvergate Capital (NYSE: SI) stock slumped 44% after the crypto-focused bank said late Wednesday it planned to close and voluntarily liquidate, after being hit by investors rushing to withdraw deposits after the bankruptcy of FTX last year.
Uber (NYSE: UBER) stock rose 1.9% after Bloomberg reported that the ride-hailing firm is considering options to spin off its freight logistics business either in a sale or as a separate publicly traded company.
Tesla (NASDAQ: TSLA) stock fell 2.1% after U.S. officials announced plans to open a new investigation into a fatal crash in February involving a Model S where an advanced driver assistance system was suspected of having been used.
Etsy (NASDAQ: ETSY) stock fell 5.1% after Jefferies downgraded its stance on the online crafts marketplace all the way down to 'underperform' from 'buy', citing slowing consumer spending.
MongoDB (NASDAQ: MDB) stock fell 10.8% after the software company offered up softer than expected revenue guidance, overshadowing healthy fourth quarter results.
Credit Suisse (NYSE: CS) stock fell 4.8% after the Swiss lender delayed the publication of its annual report after a last-minute call from the SEC, raising questions about its earlier financial statements.
Hilton Worldwide (NYSE: HLT) stock rose 0.6% after Barclays upgraded the hotel chain to 'overweight' from 'equal-weight', saying it can weather the macro challenges better than its peers.
- SVB Financial (NASDAQ: SIVB) stock fell 28.9% after the commercial bank announced that it intends to offer $1.25 billion of its common stock and $500 million of depositary shares.