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.
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
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 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.
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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