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Here are some of the biggest movers Tuesday in a session when banking names seemed to calm down after making wild swings over the past few weeks.
Stock gainers:
-
As an example of the lower volatility in bank stocks, shares of First Citizens Bancshares Inc.
FCNCA,
+2.17% ,
which soared a record 54% on Monday, were up 3.5% in Tuesday morning trading. The SPDR S&P Regional Banking exchange-traded fund
KRE,
-0.93%
edged up 0.3%. -
The U.S.-listed shares of Alibaba Group Holding Ltd.
BABA,
+13.93%
shot up 11% after the China-based e-commerce giant said it planned to reorganize into six business groups, each with their own chief executives and board of directors. -
Shares in PVH Corp.
PVH,
+19.46%
were rocketing 19% after the owner of the Tommy Hilfiger and Calvin Klein brands delivered a strong outlook for 2023, following Monday’s closing bell. -
Ciena Corp.
CIEN,
+4.71%
shares were up 5% after the optical-networking name was upgraded to strong buy at Raymond James. -
Shares of Carnival Corp.
CCL,
+5.40%
were rising 6% after a Wells Fargo analyst ended his bearish call on the cruising name. -
McCormick & Co. Inc.’s
MKC,
+8.29%
stock was leading S&P 500 gainers on the day after the spice company posted a profit beat in a report that one analyst said helped “support the idea that the company’s woes in 2022 are largely behind them.” The stock was up more than 9%. -
Walgreens Boots Alliance Inc.‘s
WBA,
+3.45%
stock was climbing 4% after the healthcare-services and drugstore chain reported fiscal second-quarter profit that beat expectations. -
Occidental Petroleum Corp.
OXY,
+4.04%
shares were on the rise, ahead 3.8% after Warren Buffett increased his stake by another $216 million. The stock also fetched an upgrade from TD Cowen analyst David Deckelbaum.
Stock decliners:
-
Shares of Monopar Therapeutics Inc.
MNPR,
-51.69%
plummeted 51% after the biopharmaceutical company said it would scrap its lead pipeline candidate following disappointing results from a late-stage trial. -
FreightCar America Inc.‘s
RAIL,
-4.72%
stock dropped 2.8% after the freight-car maker reported a wider fourth-quarter loss, citing continued margin pressure, and warned that first-quarter results would be hurt by supply-chain issues. -
Shares of Affirm Holdings Inc.
AFRM,
-9.54%
were declining 6% after Apple Inc.
AAPL,
-1.28%
said it would start “inviting select users to access a prerelease version of Apple Pay Later,” its own buy now, pay later service. -
Many chip stocks were headed lower Tuesday, including Advanced Micro Devices Inc.
AMD,
-3.38% ,
off 3.7%, and Marvell Technology Inc.
MRVL,
-2.33% ,
down 3.4%. Shares of Micron Technology Inc.
MU,
-2.31%
were off 2.6% ahead of the memory-chip company’s after-hours earnings report.
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