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Mar 20, 2023 thejournalbiz

U.S. stocks were mixed around midday Monday after Swiss regulators orchestrated a deal for UBS to take over rival Credit Suisse over the weekend.

The S&P 500 was recently 0.4% higher.

The Dow Jones Industrial Average was up about 0.8%

Tweet on trending stocks

Marketwatch:
UBS Group (UBS): Shares of the Swiss bank fell sharply
Credit Suisse (CS): The Swiss lender's shares plunged 60% in Zurich.
First Republic Bank (FRC): Stock fell 18% premarket
PacWest Bancorp (PACW): shares climbed 10% in premarket #Trending #stocks pic.twitter.com/mucOhvj1LN

— The_Journalbiz (@the_journalbiz) March 20, 2023

Factset chart on trending stocks

The Nasdaq Composite lost about 0.02% and the 10-year Treasury yield was recently 3.462%, from 3.395% Friday.

while today trending stocks are

UBS Group (UBS): Shares of the Swiss bank fell sharply, before recovering some ground to recently stand 3.3% lower, after it agreed to buy smaller rival Credit Suisse for more than $3 billion in an emergency deal this weekend.

Credit Suisse (CS): The Swiss lender’s shares plunged nearly 60% in Zurich to 0.75 Swiss francs. Under the deal terms, UBS agreed to purchase Credit Suisse in stock for the equivalent of 0.76 Swiss francs per share, based on UBS’s closing share price Friday.

First Republic Bank (FRC): Stock fell 18% premarket, even after the regional lender received a $30 billion deposit from the biggest U.S. banks last week. U.S. officials are keeping a close watch on whether First Republic and other banks stabilize in the coming days, which will dictate whether additional private or government assistance is needed.

PacWest Bancorp (PACW): Bucking the trend, shares of the regional bank climbed 10% in premarket trading, on pace to recoup some of their recent losses. The stock is down more than 60% month-to-date.