First Republic, ExxonMobil fall premarket; JPMorgan, GM rise
Investing.com -- Stocks in focus in premarket trade on Monday, May 1st. Please refresh for updates.
First Republic Bank (NYSE: FRC) stock fell 34% and JPMorgan Chase (NYSE: JPM) stock rose 4.4% after U.S. financial regulators announced earlier Monday that it had taken control of the troubled regional lender and had agreed a deal with JPMorgan for the banking giant to assume all of its deposits.
- Norwegian Cruise Line (NYSE: NCLH) stock rose 1.9% after the cruise operator reported a larger narrowing of its quarterly loss than expected, while revenues more than tripled.
Carvana (NYSE: CVNA) stock rose 2.3% after Bloomberg reported that creditors holding about 90% of the used-car company’s bonds have proposed a debt-for-equity swap.
Iveric Bio (NASDAQ: ISEE) stock rose 16% after Japan's Astellas Pharma (OTC: ALPMY) said on Monday it agreed to buy the U.S. drugmaker for about $5.9 billion in its biggest acquisition, giving it access to a range of ophthalmology treatments.
Li Auto (NASDAQ: LI) stock rose 3% after the Chinese EV company posted record deliveries in April of over 25,000 vehicles, up from almost 21,000 units delivered in March.
SoFi Technologies (NASDAQ: SOFI) stock rose 4.3% after the online personal finance company reported a smaller quarterly loss than expected, adding that it remains confident it will be profitable by the end of the year.
General Motors (NYSE: GM) stock rose 2.3% after Morgan Stanley upgraded the auto giant to ‘overweight’ from ‘equal weight’, saying the valuation is compelling as the stock is oversold.
ExxonMobil (NYSE: XOM) stock fell 1.6% after Goldman Sachs downgraded the oil major to ‘neutral’ from ‘buy’, citing the stock's outperformance from 2020 as a reason to re-evaluate.