First Republic Bank, The San Francisco-based bank stock jumped 45% after closing down 61.8% on Monday. First Republic shares rose amid a broader rebound in regional bank stocks.
Western Alliance Bancorp and KeyCorp climbed 33% and 16%, respectively. Separately, Western Alliance rose after Wells Fargo reiterated its overweight rating on the stock, saying the risk/reward is attractive for the stock.
Uber, Lyft, Doordash — Shares of ride-sharing companies Uber and Lyft, and order delivery firm Doordash, rose more than 5% each after a California appeals court said the companies can continue to treat their drivers as independent contractors. That overturned a lower court decision that prevented them from doing so.
Credit Suisse — The bank stock fell by about 1.6% after Credit Suisse said it had found “material weaknesses” in its financial reporting processes for 2022 and 2021. Earlier Thursday morning, shares fell by 5% to hit a new all-time low.
United Airlines — The airline fell 5.4% in the premarket, a day after forecasting a first-quarter loss. United cited weaker demand growth compared with other months and higher fuel costs. It expects an adjusted quarterly loss of between 60 cents and $1 per share, more than its previous forecast of adjusted earnings of 50 cents and $1 per share.
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