These were some of the biggest movers and shakers in Friday trading:
- FedEx Corp.’s stock FDX,
+8.80%jumped 7.9% in midday trading, enough to make it the S&P 500 index’s SPX, -1.02%biggest gainer, after beating analyst estimates in its fiscal third-quarter earnings. The shipping firm also lifted its profit forecast for the full fiscal year, increasing its earnings-per-share guidance to $14.40 from $13.80.
- American depositary receipts (ADRs) of China’s Baidu Inc. BIDU,
+5.48%rose 4.1% after winning a permit to provide a fully driverless robotaxi services in Beijing. On Thursday, analyst’s described the selloff as an “overreaction” to its answer to ChatGPT.
- The U.S.-listed shares of XPeng Inc. XPEV shot up 8.0%, reversing a premarket loss of as much as 4.2%, after the China-based EV maker reported a wider-than-expected fourth-quarter loss, revenue that missed expectations and provided a downbeat first-quarter outlook, but assured investors that sales growth and market share gains would resume.
- Enzo Biochem Inc. shares ENZ soared 74% premarket after the company announced late Thursday that it will sell its clinical laboratory unit to Labcorp.
- Histogen Inc.’s stock HSTO,
+57.98%rose 72% after the biotech company announced it was issued a new U.S. patent that covers its portfolio of anti-inflammatory caspase inhibitors, including CTS-2090.
- First Republic Bank‘s stock FRC,
-25.48%plummeted 25% toward a 12-year low, and was by far the S&P 500’s biggest decliner. The stock had closed 9% up on Thursday after a consortium of big banks including Bank of America Corp. BAC, -3.62%, Citigroup Inc. C, -3.30%, and JPMorgan Chase & Co. JPM, -3.51%and others agreed to make uninsured deposits totaling $30 billion to prop up the struggling bank. Among other regional banks, shares of PacWest Bancorp PACW, -12.75%sank 13% and of Western Alliance Bancorp slid 17%.
- Credit Suisse Group AG ADRs CS,
-5.09%fell over 7%, finishing off a rough week for the Swiss lender after resorting to asking for a $54 billion lifeline from the Swiss central bank. The ADRs had tumbled nearly 25% the past week.
- Diebold Nixdorf Inc.’s stock DBD,
-53.05%plummeted 48% to pace the New York Stock Exchange’s (NYSE) decliners, as the provider of digitizing services to retailers and banks’ presentation to lenders, in which the company said it was facing near-term liquidity needs and was seeking a “going-concern” waiver, unnerved investors.
- Sarepta Therapeutics Inc.’s stock SRPT,
-19.27%sank 19% following a Thursday selloff sparked by an unexpected Food and Drug Administration advisory committee meeting for Sarepta’s investigational gene therapy for the treatment of Duchenne muscular dystrophy.