By Liz Moyer
Investing.com -- Stocks are falling as the shutdown of SVB Financial sends shockwaves through the banking sector. Here are the midday movers for March 10.
DocuSign Inc (NASDAQ:DOCU) shares were down 21% after it reported better-than-expected revenue and a profit for the fourth quarter. Analysts expressed concerns about the departure of its CFO later this year. JPMorgan Chase analysts cut their rating to Underweight from Neutral. Oracle Corporation (NYSE:ORCL) shares were down 4.2% after the software maker reported lower-than-expected revenue in the recent quarter, though it was up 18% from the same quarter a year ago.Signature Bank (NASDAQ:SBNY) shares were down 23% as banks got caught in a sell-off after the closure of SVB Financial, which tried and failed to raise capital. $First Republic Bank(FRC-N)$ (NYSE:FRC) shares are also down 22% and Charles Schwab (NYSE:SCHW) shares are down 7.8%.
Gap Inc (NYSE:GPS) shares were down 6% after the casual clothing retailer posted a wider quarterly loss than one year ago and declining revenue that fell short of expectations.Allbirds Inc (NASDAQ:BIRD) shares were down 45% after the footwear maker said it was overhauling its strategy and shuffling management. For the fourth quarter, its loss was wider than a year ago and sales fell 13%.
Related Articles
Midday movers: DocuSign, Oracle, Signature Bank and more
CERAWEEK-U.S. Senator Joe Manchin blasts Ford's battery deal with China's CATL
FAA approves restarting Boeing 787 Dreamliner deliveries next week
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。