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Today's Pre-Market Stock Movers: ETSY, SI, CS, UBER and More

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Movers and Shakers wrote a column · Mar 9, 2023 07:39
Gapping up
$Uber Technologies(UBER.US)$ +2% (A Bloomberg report that Uber is considering spinning off its freight logistics division. The freight unit had $1.5 billion of revenue in the fourth quarter.)
$Hilton Worldwide(HLT.US)$ +1.02% (Barclays upgraded the stock to overweight from equal weight, saying the company can weather macro challenges better than its peers. )
$Asana(ASAN.US)$ +23% (Chairman and CEO Dustin Moskovitz, the company's founder, disclosed plans to buy up to 30 million shares of the software company's Class A common stock. The company also said it expects a fiscal first-quarter loss narrower than Wall Street forecasts.)
Gapping down
$Etsy Inc(ETSY.US)$ -6% (Jefferies double-downgraded the online marketplace to underperform from buy. The firm cited the company's need to spend more on marketing as buyer churn increases.)
$Silvergate Capital(SI.US)$ -50% (The company announced it will wind down operations and liquidate Silvergate Bank. The news comes about a week after the bank warned it may not be able to continue operating and follows a series of financial challenges and government investigations in the aftermath of the collapse of FTX, which was a customer of the bank.)
$MongoDB(MDB.US)$ -10% (The decline came after MongoDB offered weak guidance on revenue that disappointed investors. The company did post earnings and revenue that beat expectations for the fourth quarter.)
$SVB Financial(SIVB.US)$ -30% (The firm announced that it intends to offer $1.25 billion of its common stock and $500 million of depositary shares.)
$Credit Suisse(CS.US)$ -4% (The company announced it would delay its annual report after receiving comments from the Securities and Exchange Commission. The regulator's comments were about cash flow statements in 2019 and 2020, the bank said.)
$loanDepot(LDI.US)$ -10% (The mortgage lender's fourth-quarter earnings report missed analysts’ expectations. The company reported a loss of 46 cents per share and revenue of $169.7 million. Analysts polled by FactSet had estimated an earnings loss of 27 cents per share and revenue of $190.9 million.)
Source: Dow Jones, CNBC
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