[ad_1]
Here are some of the biggest movers on Wednesday, as the first quarter earnings season moves on apace but revived inflation concerns hit stock futures.
Stock gainers:
Western Alliance Bancorp stock
WAL,
rallied nearly 20% in premarket trading after the regional lender said late Tuesday that deposits had grown $2 billion in the first two weeks of April after declining 11.3% to $47.6 billion in the first quarter.
The rally helped provide a boost to other regional banks, with the SPDR S&P Regional Banking exchange-traded fund rising 0.9% ahead of Wednesday’s open. Among the ETF’s more-active components, shares of First Republic Bank
FRC,
climbed 3.2%, PacWest Bancorp
PACW,
advanced 5.9%, and Zions Bancorporation
ZION,
gained 3.5%.
Intuitive Surgical Inc. shares
ISRG,
rose more than 7% after the surgical robotics company’s quarterly results, released after Tuesday’s closing bell, topped Wall Street estimates.
Travelers Cos. Inc. shares
TRV,
climbed nearly 5%, enough to pace the Dow Jones Industrial Average’s
DJIA,
gainers, after the insurer beat earnings estimates for the first quarter.
Stock decliners:
Tesla Inc. stock
TSLA,
dipped 2.5% premarket after the electric vehicle maker made another round of price cuts on its cars ahead of earnings due after Wednesday’s closing bell.
Netflix Inc. shares
NFLX,
fell about 1.5% after the after the streaming giant late on Tuesday posted weaker subscriber growth and forecast a smaller profit than Wall Street expected.
CDW Corp. shares
CDW,
tumbled 11% after the IT software provider forecast revenue below the analysts’ consensus because of cautious business spending.
Lithia Motors Inc.’s stock
LAD,
shed 3.5% after the auto retailer missed first-quarter profit and revenue expectations, as profit per vehicle sold dropped 18%.
[ad_2]
Source link
