(Discounted with Apollo, Blackstone, Cvent Holding and Futures)
PARIS, March 14 (Reuters) – Main stocks to follow on Tuesday on Wall Street, where futures contracts on the main indices suggest an opening up 0.69% for the Dow Jones, 0.82% for the Standard & Poor’s -500 and 0.68% for the Nasdaq
* FIRST REPUBLIC BANK rebounded 17.4% in pre-market trading following statements by its executive chairman Jim Herbert that the regional bank is able to meet requests for withdrawal of funds thanks to new funding from JPMorgan Chase.
* The banks JPMORGAN CHASE, CITIGROUP and WELLS FARGO advance from 0.5% to 2.3% in market preview after their sharp decline the day before following fears of a financial crisis.
* APOLLO and BLACKSTONE have expressed interest in a portfolio of loans held by US bank Silicon Valley Bank (SVB), which was shut down by California authorities on Friday, Bloomberg News reported on Tuesday.
* CVENT HOLDING – Blackstone is to buy the meeting planner in a $4.6 billion deal.
* UNIVAR on Tuesday announced its acquisition by Apollo Global Management in a deal that values the specialty chemicals distributor at $8.1 billion, including debt. The action progressed by nearly 14% before the market.
* Wall Street-listed Chinese groups ALIBABA, JD.COM and BAIDU each fell about 2% ahead of the stock market amid fears of contagion from the collapse of the SVB.
* UBER TECHNOLOGIES and LYFT take 7.1% and 6.4% respectively on the market, a Californian appeals court having ruled unconstitutional “Proposition 22” which obliges ride-hailing services to consider drivers as employees and not self-employed.
* UNITED AIRLINES HOLDINGS fell 6% in pre-market after Monday’s publication of an unexpected loss forecast for the current quarter, the airline citing a drop in demand.
* BUZZFEED plunges 11.7% in out-of-hours trading, as the online media group announced late Monday that most of its cash or cash equivalents are held by SVB bank.
* SEAGEN – Needham lowers its recommendation to “hold” versus “buy” the day after the announcement of the acquisition of the laboratory by PFIZER.
* ESTEE LAUDER – TD Cowen begins the follow-up at “outperform” with a target at $280. (Written by Claude Chendjou and Diana Mandiá, edited by Blandine Hénault and Kate Entringer)
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