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Stocks were slipping Friday, with the S&P 500 and Dow industrials on track for weekly losses, after the University of Michigan survey showed souring consumer sentiment.
Regional bank shares wavered after a selloff.
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Marketwatch:
Tesla (TSLA): Shares rose 3%
PacWest (PACW): The troubled lender edged higher.
News Corp (NWS): Shares rose more than 5%
First Solar (FSLR): The solar module maker's shares were recently up nearly 20% #StocksToBuy pic.twitter.com/S0mfTBsJ9i— The_Journalbiz (@the_journalbiz) May 12, 2023
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Lenders including PacWest staged a modest pre-market rally before giving up those gains after the open.
Tesla (TSLA): Shares rose after Elon Musk said he had found a new chief executive of Twitter, potentially freeing up time for Mr. Musk to focus on the EV maker.
PacWest (PACW): The troubled lender edged higher. It sank 23% Thursday after disclosing another round of deposit flight.
News Corp (NWS): Shares rose more than 5% after the media company reported a fall in revenue and profit, but continued growth at Wall Street Journal parent Dow Jones.
First Solar (FSLR): The solar module maker’s shares were recently up nearly 20% after it announced the acquisition of Evolar, a perovskite technology company. The shares were on track for their highest close since 2008, according to Dow Jones Market Data.
