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Here were some of the most active stocks in premarket trade, as U.S. stock index futures were boosted on improving news from the banking sector.
Stock gainers:
First Citizens Bancshares stock
FCNCA,
jumped 26% as the North Carolina bank is buying $72 billion of assets from the fallen Silicon Valley Bank at a $16.5 billion discount, the Federal Deposit Insurance Corp. announced.
Regional banks surged. First Republic
FRC,
stock rose 28% and Western Alliance Bancorp
WAL,
rose 6%.
Silvergate Capital
SI,
the parent of failed Silvergate Bank, saw its shares rise 16%.
Novartis
NVS,
shares rallied 7% as the drugmaker reported positive trial data on a breast-cancer drug.
Stock losers:
BioNTech
BNTX,
stock weakened 2%. The German vaccine maker reported profit and sales ahead of forecasts, but estimated €5 billion ($5.4 billion) of COVID-19 vaccine revenue this year, down from €17.2 billion in 2022. It also said a renegotiation of the existing supply contract with the European Union may lead to a rephasing of dose deliveries across multiple years and/or volume reduction.
Pharming stock
PHAR,
fell 14%, after surging 33% on Friday when the Food and Drug Administration approved a drug for APDS, a rare and progressive primary immunodeficiency.
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