Stocks making the biggest premarket moves: Credit Suisse, Snap, Adobe, PagerDuty & more
Check out the companies making the biggest moves in premarket trading:
Credit Suisseborrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. The stock tumbled 13.9% on Wednesday after its largest investors said it couldn’t provide any more funding.
SnapMetaWall Street Journal report that the Biden administration said competitor TikTok could be banned unless it is sold by its Chinese owner, ByteDance. A separate report by Bloomberg said TikTok is considering splitting from ByteDance if a deal with the U.S. fails.
Regional banks — Regional banks continued their slide amid the fallout of Silicon Valley Bank’s failure. First Republic BankZions BancorporationComerica
Dollar Generalquarterly same-store sales missed Wall Street’s estimates. Same-store sales rose 5.7% in the fourth quarter, versus the 6% expected by analysts polled by Refinitiv.
Adobelifted its profit forecast for fiscal 2023 and announced its quarterly results beat Wall Street estimates. It increased income and net new recurring revenue projections for its digital media business for the full year.
Baiduunveiled its ChatGPT alternative, Ernie bot.
Motorolaupgrade by JPMorgan to overweight from neutral. The Wall Street firm said the stock has fallen to levels that are attractive.
–CNBC’s Tanaya Macheel contributed reporting.