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Mar 9, 2023 thejournalbiz

U.S. stocks were wavering around midday Thursday!

That after new data showing last week’s jobless claims rose from the previous week.

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Marketwatch:

SVB Financial Group: Shares are down 45%
Silvergate Capital (SI): The stock was down 21%
First Republic (FRC): down15%
Tesla (TSLA): Shares were down 1.4%
Credit Suisse Group (CS): down 2%.
Noodles & Co. (NDLS): Shares were down almost 4%
#Trending #stocks pic.twitter.com/UF7dV3JNjc

— The_Journalbiz (@the_journalbiz) March 9, 2023

Factset chart

The S&P 500 was down about 0.1%. and the tech-heavy Nasdaq was about flat.

The yield on the 10-year Treasury was at 3.972%, down slightly from 3.974% late Wednesday, and the trending stocks today are:

SVB Financial Group (SIVB): Shares of the Silicon Valley Bank owner were recently down 45% after the company said it plans to hold a stock offering. Moody’s Investors Service downgraded its credit ratings for both SVB and Silicon Valley Bank.

Silvergate Capital (SI): The stock was down about 21% in afternoon trading, following the bank’s announcement late Wednesday that it would wind down operations.

First Republic (FRC): The bank’s stock was down about 15% after investors grew concerned about the stickiness of cheap bank deposits in a world of rising rates.

Tesla (TSLA): Shares of the electric-vehicle maker are down about 1.4%, extending their decline from Wednesday after regulators said they had opened a probe into a possible steering wheel flaw.

Credit Suisse Group (CS): The bank’s U.S.-listed shares were down 2% after it said it had delayed its annual report following a last-minute call from the U.S. Securities and Exchange Commission.

LoanDepot (LDI): The California-based mortgage company’s stock pared its decline to around 1% after saying its net loss rose 15% in the fourth quarter, compared with the third.

Noodles & Co. (NDLS): Shares were down almost 4% after the Colorado-based restaurant chain posted results.

*Oracle, Ulta Beauty, Gap: The companies are due to report earnings after the market closes.