Stock futures fluctuated Monday after the Federal Deposit Insurance Corp. announced JPMorgan Chase was acquiring all the deposits and “substantially all of the assets” of regional lender First Republic Bank.
These stocks were poised to make moves Monday:
Shares of
First Republic Bank
(FRC) were falling 39% in premarket trading to $2.14.
JPMorgan Chase
(JPM) was up 2.4%.
PNC Financial
(PNC), which also was reported to be bidding on the assets of First Republic fell 3%.
Other regional lenders traded mixed.
PacWest Bancorp
(PACW) was down 1%,
Western Alliance
fell 1.8% (WAL),
KeyCorp
(KEY) declined 0.6%, and
Zions Bancorp
(ZION) was rising 2.5%.
Iveric Bio
(ISEE) was rising 18.3% to $38.92 after Japan’s Astellas Pharma agreed to buy the biopharmaceutical company for about $5.9 billion. Astellas will be paying $40 a share for
Iveric Bio.
XPeng
(XPEV),and
Li Auto
(LI) reported deliveries for April.
NIO
(
NIO
) also is expected to issue its deliveries report Monday. U.S.-listed shares of the Chinese electric-vehicle makers were rising in premarket trading.
Carvana
(CVNA) gained 7.9% following a report from Bloomberg that said creditors holding about 90% of the used-car company’s bonds have proposed a debt-for-equity swap.
Norwegian Cruise Line Holdings
(NCLH),
ON Semiconductor
(ON) and
Global Payments
(GPN) are scheduled to report quarterly earnings before the stock market opens Monday, while
Stryker
(SYK),
Vertex Pharmaceuticals
(VRTX),
Arista Networks
(ANET), and
NXP Semiconductors
(NXPI) will be issuing reports after Wall Street closes.
Earnings reports later in the week are expected from
Apple
(AAPL),
Ford
(F),
Advanced Micro Devices
(AMD),
Pfizer
(PFE),
CVS Health
(CVS),
Qualcomm
(QCOM), and
Moderna
(MRNA).
Write to Joe Woelfel at [email protected]
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