text size
Share futures edged higher on Thursday as fears were calmed by news that Credit Suisse would exercise its option to borrow up to $54 billion from the Swiss National Bank.
ANGELA WEISS/AFP/GETTY IMAGES
Stock futures trade mixed on Thursday after Swiss banking giant
credit Suisse
said it would exercise an option to borrow up to 50 billion Swiss francs ($54 billion) from the country’s central bank. The move calmed fears on Wall Street after a volatile trading session.
These stocks looked set to make the move on Thursday:
American Depositary Receipts of
credit Suisse
(CS) rose 2.3% after a plunge of nearly 14% on Wednesday after the bank’s largest shareholder, Saudi National Bank, said it would not invest any more money in the lender. The news sent global bank shares spinning lower.
one of them was the bank
First Republic Bank
(FRC), which fell 21.4% on Wednesday. It was up 1.6% in premarket trading on Thursday. Two ratings firms downgraded the bank’s credit rating to “junk” over the risk that depositors could pull their funds from California-based First Republic.
crackle
(SNAP), the parent of Snapchat, and
meta platform
(META), which owns Facebook and Instagram, rose 4.5% and 1.5%, respectively, after The Wall Street Journal reported that the Biden administration is considering selling the US arm of popular short video service TikTok to Chinese tech company ByteDance or face a possible ban. demanded to do.
software company
adobe
(ADBE) reported fiscal first-quarter earnings that topped both its own guidance as well as Wall Street estimates. The company also boosted its fiscal year outlook. The stock climbed 6.1%.
uipath
(PATH) jumped 14.7% after fourth-quarter results topped expectations and the company issued a revenue outlook for the fiscal first quarter and year that beat Wall Street estimates.
protera
(PTRA), the electric bus and battery maker, was plunging 18.7% in premarket trading after warning it may not have enough liquidity at the end of the fiscal first quarter.
virgin orbit
(VORB) was plunging nearly 42% in premarket trading after saying will cease its operations, effective Thursday. The company, which is seeking to launch satellites as a commercial service, expects to provide an update on its operational pause in the coming weeks, a spokeswoman for the company told Dow Jones Newswires.
Earnings report expected before Wall Street opens on Thursday
dollar general
(DG),
Signet Jewelers
(SIG), and
Williams-Sonoma
(WSM).
FedEx,
(FDX) will release its quarterly earnings after the market close.
Write to Joe Woelfel at [email protected]