First Republic, KeyCorp, GitLab, Meta, and More Stock Market Movers
Stocks were rising sharply Tuesday after consumer-level inflation in the U.S. continued to decline in February but investors remain tuned into the banking crisis after the collapse of three banks.
These stocks were making moves Tuesday:
First Republic Bank
(ticker: FRC) gained 48.8% after closing nearly 62% lower on Monday. The bank led shares of regional lenders down even after U.S. authorities stepped in to backstop depositors following the collapses of Silicon Valley Bank and Signature Bank.
(CMA) jumped 10.6% following a drop of 28% on Monday, while
(KEY) gained 15% after tumbling 27.3% in the previous session. KeyCorp was on pace for its largest percent increase since November 2020, when it rose 18.6%, according to Dow Jones Market Data.
(SCHW) were up 8.7%. It was on pace for its largest percent increase since January 2021, when it rose 8.8%.
GitLab (GTLB), the DevOps software company, sank 27% after its revenue forecast for the fiscal first quarter and year missed analysts’ expectations.
Shares of Meta (META) rose 5.7% after the parent of Facebook and Instagram announced plans to cut another 10,000 jobs, as CEO Mark Zuckerberg presses his push for corporate efficiency in the face of slower revenue growth.
(MNTV) jumped 19.5% to $9.23 after the parent of Survey Monkey agreed to be acquired by a group led by private-equity firm Symphony Technology Group for $9.46 a share, or about $1.5 billion.
BuzzFeed (BZFD) shares tumbled 14.9% after the digital media company posted a wider-than-expected loss for its fourth quarter.
(UNVR), a chemical and ingredients distributor, rose 12.3% after it reached a deal to be acquired by
Apollo Global Management
(APO) for about $8.1 billion, including debt.
Getty Images Holdings
(GETY) shares tumbled 11.4% after the visual content creator posted fourth-quarter revenue that declined year over year.
(AMLX) shares rose 11% after the biotech posted fourth-quarter revenue that beat expectations.
(MTCH) rose 6.2% after the dating app company was upgraded to Overweight from Equal Weight by analysts at Barclays, who say it’s “swiping right on value.”
(UBER) rose 5.6% and
(LYFT) gained 3.3% after a California appeals court said workers at the ride-hailing companies should continue to be treated as independent contractors.
Write to Joe Woelfel at [email protected]
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