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FedEx, Nvidia and Bumble rise premarket; First Republic, Credit Suisse fall

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Friday, March 17th. Please refresh for updates.

  • First Republic Bank (NYSE:FRC) stock fell 13% with the regional bank continuing to struggle even after a group of major banks deposited $30 billion in a vote of confidence.

  • FedEx (NYSE:FDX) stock soared 11% after the delivery giant lifted its guidance after reporting third-quarter earnings that markedly beat expectations as its ongoing efforts to cut costs helped offset ongoing demand weakness.

  • Merck (NYSE:MRK) stock fell 0.7% after the pharmaceutical company revealed disappointing trial results from one of its metastatic non-small cell lung cancer drugs.

  • Nvidia (NASDAQ:NVDA) stock rose 1.7% after Morgan Stanley upgraded its stance on the software company to ‘overweight’ from ‘equal-weight’, citing growing excitement around artificial intelligence.

  • Alphabet (NASDAQ:GOOGL) stock fell 0.6% after the Google-owner announced a price increase for its YouTube TV subscription, citing increased content costs.

  • Microsoft (NASDAQ:MSFT) stock rose 0.6% after a filing showed the software giant has offered remedies in an attempt to gain EU antitrust approval for its $69 billion acquisition of Activision (NASDAQ:ATVI).

  • Bumble (NASDAQ:BMBL) stock rose 0.9% after Citigroup initiated coverage of the online dating site with a ‘buy’ rating, expecting it to gain market share.

  • Credit Suisse (NYSE:CS) stock fell 6.9% after Bloomberg reported that the lender had rebuffed a suggestion from Swiss regulators that its much larger rival UBS (SIX:UBSG) take it over.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.