Stock Market Movers of Today

Stock Market Movers of Today wsjrenewal

Firstly, First Republic Bank FRC +29.47% (FRC) rose 30% in the Stock Market and was the leading gainer in the S&P 500. Shares of the regional lender lost nearly half their value and sank to a new low on Monday even as a report from The Wall Street Journal said talks to raise additional capital for the First Republic were being led by JPMorgan Chase (JPM) and other banks that already put $30 billion in deposits into the bank. Fellow regional bank KeyCorp (KEY) gained 9.5%.

U.S.-listed shares of Credit Suisse (CS) rose 2.5% to about 97 cents after tumbling 53% on Monday following the Swiss bank’s purchase by larger rival UBS (UBS) for about $3.2 billion. The deal was engineered by Swiss authorities over the weekend amid the banking industry turmoil.

Tesla TSLA +7.82% (TSLA) was rising 7.8% after the electric-vehicle maker’s debt was upgraded by Moody’s to Baa3, its lowest level for investment grade, up one rating notch from Ba1, the highest level of speculative grade, or so-called junk-rated debt.

Also, “The rating action reflects Moody’s expectation that Tesla will remain one of the foremost manufacturers of battery electric vehicles with an expanding global presence and very high profitability,” Moody’s said in a statement.

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It also was reported by the European Automobile Manufacturers Association that Tesla’s new car registrations in the European Union rose to 19,249 in February from 12,860 a year earlier.

Shares of Coinbase (COIN), the digital asset broker, rose 11.8%. Bo Pei, an analyst at U.S. Tiger Securities, upgraded Coinbase to Buy from Hold and raised his price target on the stock to $200 from $65—becoming, by far, the most bullish of more than 20 analysts surveyed by FactSet.

Harley-Davidson (HOG) jumped 4.1% after shares of the motorcycle maker were upgraded to Overweight from Equal Weight at Morgan Stanley.

On Holding (ONON) rose 26% after fourth-quarter earnings at the Swiss running shoe company beat estimates.

Canadian Solar (CSIQ) rose 15% after fourth-quarter earnings and sales topped analysts’ estimates.

Foot Locker (FL) was upgraded to Buy from Neutral at Citi. The footwear company said Monday it anticipates strong long-term growth as new CEO Mary Dillon moves to reset the business. Shares rose 7.1% as can be seen.

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Finally, Meta Platforms (META), the parent company of Facebook and Instagram, was upgraded to Overweight from Equal Weight at Morgan Stanley with a price target of $250, up from $190. The Stock Market was upgraded to Buy at Edward Jones Meta Stock Snags a Buy Rating. What the Analyst Likes. Edward Jones analyst David Heger lifted his rating on shares to Buy from Hold.

Continue reading on Monday, with analysts supporting the company’s decision to trim spending on the metaverse. Meta stock rose 2.2% to $202.16.

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