These Stocks Are Moving the Most Today: First Citizens, First Republic, Novartis, Salesforce, Carnival, and More

Large parts of Silicon Valley Bank will be acquired by First Citizens Bancshares.

David Paul Morris/Bloomberg

Stock futures were rising Monday as investors maintained their focus on turmoil in the banking industry.

These stocks were poised to make moves Monday: 

First Citizens Bancshares (FCNCA) was rising 15.2% in premarket trading after agreeing to acquire large parts of Silicon Valley Bank two weeks after its collapse triggered a wave of market turmoil. First Citizens will be buying all of Silicon Valley Bank’s deposits, loans and branches, which will open on Monday under the new ownership, according to the Federal Deposit Insurance Corp. Shares of other regional lenders were rising, with First Republic Bank (FRC) up almost 25%, and PacWest Bancorp (PACW) up 9.5%.

American depositary receipts of Novartis (NVS) rose 6% after the Swiss pharmaceutical company reported positive top-line results from a trial of breast-cancer drug Kisqali. Novartis said Kisqali plus endocrine therapy “significantly reduced the risk of disease recurrence” compared with standard endocrine therapy alone.

Caterpillar (CAT) was down 1.8% after shares of the maker of construction and mining equipment were downgraded to Underperform from Neutral at Baird, the Fly reported.

Salesforce (CRM) was falling 0.2% in premarket trading. The customer-relationship-management software company said activist investor Elliott Investment Management won’t be nominating directors to the company’s board, citing Salesforce
‘s strong earnings and fiscal 2024 “transformation initiatives.”

Iovance Biotherapeutics (IOVA), the cancer-therapy developer, gained 8.9% in premarket trading after saying Friday it completed a rolling biologics license application submission to the Food and Drug Administration for lifileucel, a melanoma therapy.

BioNTech (BNTX) , the German biotechnology company, and Carniva
l (CCL), the cruise ship operator, are scheduled to report quarterly earnings before the stock market opens Monday.

Reports later in the week are expected from Micron Technology (MU), Lululemon Athletica (LULU), Walgreens Boots Alliance (WBA), Paychex (PAYX), EVgo (EVGO) and BlackBerry (BB).

Write to Joe Woelfel at [email protected]

Want to get worth reading articles in your email? want to catch what's going on in the world?

We do not spam but sent you only important news stories 🙂

News Agencies

About Author

The latest news from the News Agencies

You may also like

exotic expansion llc best stock picking services

Exotic Expansion LLC: Is it one of few Best Stock Picking Services?

Exotic Expansion LLC: You may have wondered once in a life that if you had someone who can advise you
investing in cryptocurrencies

Are you investing in cryptocurrencies? 4 important points before you invest

Investing in cryptocurrencies Driven by financial backers’ energy, the cryptographic money market as of late crossed the $3 trillion imprint