These were some of the biggest movers and shakers in premarket Friday trading:
Stock gainers
- FedEx Corp.’s stock
FDX,
+4.48%
jumped almost 12% after beating analyst estimates in its fiscal third-quarter earnings. The shipping firm also lifted its profit forecast for the full fiscal year, increasing its earnings-per-share guidance to $14.40 from $13.80. - American depositary receipts (ADRs) of China’s Baidu Inc.
BIDU,
+3.80%
rose 4.8% after winning a permit to provide a fully driverless robotaxi services in Beijing. On Thursday, analyst’s described the selloff as an “overreaction” to its answer to ChatGPT. - Enzo Biochem Inc. shares ENZ soared 66% premarket after the company announced late Thursday that it will sell its clinical laboratory unit to Labcorp.
- Histogen Inc.’s stock
HSTO,
-3.65%
rose 33% after the biotech company announced it was issued a new U.S. patent that covers its portfolio of anti-inflammatory caspase inhibitors, including CTS-2090.
Stock decliners
- First Republic Bank‘s stock
FRC,
+9.98%
was down 9% in premarket trading. The stock closed 9% up on Thursday after a consortium of big banks including Bank of America Corp.
BAC,
+1.68% ,
Citigroup Inc.
C,
+1.78% ,
and JPMorgan Chase & Co.
JPM,
+1.94%
and others agreed to make uninsured deposits totaling $30 billion to prop up the struggling bank. Among other regional bank, shares of PacWest Bancorp
PACW,
+0.70%
lost 6% and of Western Alliance Bancorp shed 3%. - Credit Suisse Group AG ADRs
CS,
fell over 4%, finishing off a rough week for the Swiss lender after resorting to asking for a $54 billion lifeline from the Swiss central bank. The ADRs had tumbled 18.8% this week through Thursday. - The U.S.-listed shares of XPeng Inc.
XPEV,
+2.84%
slid nearly 3% after the China-based EV maker reported a wider-than-expected fourth-quarter loss, revenue that missed expectations and provided a downbeat first-quarter outlook. - ThermoGenesis Holdings Inc.’s stock
THMO,
+43.20%
fell more than 18% premarket, reversing a two-day rally where shares were up over 30% after the cell-processing services company moved to raise roughly $3 million through the sale of stock. - Sarepta Therapeutics Inc.’s stock
SRPT,
+2.89%
sank 18% premarket following a Thursday selloff sparked by an unexpected Food and Drug Administration advisory committee meeting for Sarepta’s investigational gene therapy for the treatment of Duchenne muscular dystrophy.
Source: https://www.marketwatch.com/story/first-republic-banks-stock-selloff-continues-despite-30-billion-bank-boost-and-baidu-shares-lifted-after-winning-driverless-robotaxi-permit-97ff3df6?siteid=yhoof2&yptr=yahoo