Stock Market

First Citizens shares leap on SVB deal as Novartis stock boosted by breast-cancer drug trial

Here were some of the most active stocks in premarket trade, as U.S. stock index futures were boosted on improving news from the banking sector.

Stock gainers:

First Citizens Bancshares stock

jumped 26% as the North Carolina bank is buying $72 billion of assets from the fallen Silicon Valley Bank at a $16.5 billion discount, the Federal Deposit Insurance Corp. announced.

Regional banks surged. First Republic

stock rose 28% and Western Alliance Bancorp

rose 6%.

Silvergate Capital
the parent of failed Silvergate Bank, saw its shares rise 16%.


shares rallied 7% as the drugmaker reported positive trial data on a breast-cancer drug.

Stock losers:


stock weakened 2%. The German vaccine maker reported profit and sales ahead of forecasts, but estimated €5 billion ($5.4 billion) of COVID-19 vaccine revenue this year, down from €17.2 billion in 2022. It also said a renegotiation of the existing supply contract with the European Union may lead to a rephasing of dose deliveries across multiple years and/or volume reduction.

Pharming stock

fell 14%, after surging 33% on Friday when the Food and Drug Administration approved a drug for APDS, a rare and progressive primary immunodeficiency.

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