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Midday movers: First Republic, Tesla, Foot Locker and more

By Liz Moyer

Investing.com -- Stocks were rising on Tuesday as investors looked ahead to the Fed's interest rate decision, which is widely expected to be an increase of a quarter of a percentage point. Here are the midday movers for March 21.

  • First Republic Bank (NYSE:FRC) shares rebounded, up more than 53% and leading a rise in regional bank stocks. Shares of KeyCorp (NYSE:KEY) rose 9% and shares of PacWest Bancorp (NASDAQ:PACW) rose more than 20% after Treasury Secretary Janet Yellen said regulators could intervene again to shore up the banking system if another small bank experiences a run on deposits such as what happened at Silicon Valley Bank.
  • Tesla Inc (NASDAQ:TSLA) shares rose 6.8% after Moody's upgraded the electric vehicle maker to investment grade, saying it is the sector's foremost manufacturer.

  • Foot Locker Inc (NYSE:FL) shares were up 7% after the footwear and apparel retailer caught a Buy rating from Citi as new CEO Mary Dillon makes her mark on the company.

  • Harley-Davidson Inc (NYSE:HOG) shares were up 5.3% after the motorcycle maker was upgraded by Morgan Stanley to Overweight, saying the company’s focus on its main business can see the stock rise 30%.

  • On Holding Ltd (NYSE:ONON) shares jumped 27% after the footwear maker beat estimates with a 91% jump in fourth-quarter fiscal year 2022 net sales compared with the prior year.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% 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.