First Republic, PacWest rise premarket; United Airlines, BuzzFeed fall

  • Stock Market News
First Republic, PacWest rise premarket; United Airlines, BuzzFeed fall
Credit: © Reuters.

By Scott Kanowsky -- Stocks in focus in premarket trade on Tuesday, March 14th. Please refresh for updates.

  • Shares in regional U.S. banks rose, but any rebound hopes were tempered by a warning from Moody's Investor Service about the stability of their funding bases and the paper losses that have accumulated in their bond portfolios. First Republic Bank (NYSE: FRC ), Western Alliance Bancorporation (NYSE: WAL ), Comerica Inc. (NYSE: CMA ), KeyCorp (NYSE: KEY ), Zions Bancorporation (NASDAQ: ZION ) and PacWest Bancorp (NASDAQ: PACW ) all rallied.

  • Larger banks, including Bank of America (NYSE: BAC ), Wells Fargo & Company (NYSE: WFC ) and Morgan Stanley (NYSE: MS ), also climbed.

  • BuzzFeed, Inc. (NASDAQ: BZFD ) shares dipped after the digital news site said much of its cash had been held by failed lender Silicon Valley Bank.

  • Ride-sharing apps Uber Technologies, Inc. (NYSE: UBER ) and Lyft, Inc. (NASDAQ: LYFT ), as well as delivery service DoorDash, Inc. (NYSE: DASH ), all saw their shares rise in premarket U.S. trading on Tuesday after a California appeals court ruled that the companies can continue to treat their workers as independent contractors.

  • United Airlines Holdings, Inc. (NASDAQ: UAL ) shares slumped after the carrier flagged that it expects to report a loss in the first quarter because of costs related to a deal with the pilots union and weaker travel demand at the beginning of 2023.

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