USA: Values ​​to follow on Wall Street (updated)

(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)

©2023 Thomson Reuters, all rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. “Reuters” and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.

Source link -87