![]() Luna Innovations provided a revenue outlook for the current quarter and 2023 revenue below analysts expectations. Lennar reported fiscal first-quarter earnings and revenue that beat analysts' expectations. Shares of the clothing brand and retailer dropped 6.5% to $19.88 in after-hours trading. Guess? warned of an unexpected loss in the first quarter. Shares fell 44% to 24 cents in after-hours trading.įirst Republic Bank was rising 12.2% in premarket trading after soaring nearly 27% on Tuesday, while Western Alliance Bancorp was up 7.1% after gaining 14.4% in the previous session as shares of regional banks rebounded. Treasury spring budget.īoxed said it is considering selling the whole company or filing for bankruptcy. London stocks traded lower as traders awaited the U.K. Nervousness continued in Europe, however, with the Stoxx 600 index down 1.3%, led lower by shares of retailers, energy companies and banks. In Asia, investor sentiment recovered, reversing sharp declines the day earlier. "Obviously we're still a long way from the pre-SVB state of affairs that prevailed last Wednesday, but with worries about bank contagion starting to subside, we're finally seeing some optimism return to financial markets again," Deutsche concluded. Providing there are no shocks from the retail sales and factory gate prices reports, the market expects the central bank to raise interest rates by 25 basis points to a range of 4.7%% to 5.0% after its meeting on March 22nd.ĭeutsche Bank said "investors are rowing back on their predictions of an imminent pause in rate hikes, not least after the US CPI print offered a fresh reminder about high inflation." Stock futures were moving lower on Wednesday ahead of retail sales data, despite reduced volatility in government bond markets signaling an easing of financial sector angst and less uncertainty about Federal Reserve policy. Meta Plans 10,000 Job Cuts in New Round of Layoffs Mark Zuckerberg on How to Run a Company in 2023 ![]() ![]() Real-Estate Investor Run on Signature Bank Helped Fuel Its Demise Where Investors Are Parking Their Cash Now Fed to Consider Tougher Rules for Midsize Banks After SVB, Signature Failures February Retail Sales to Show if Consumers Pulled Back ![]()
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