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Midday movers: First Citizens BancShares, Novartis, Carnival Corp. and more

AuthorLiz MoyerStock Markets
Published Mar 28, 2023 04:50
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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.

Midday movers: First Citizens BancShares, Novartis, Carnival Corp. and more
 
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