{"id":4149,"date":"2023-05-04T12:30:25","date_gmt":"2023-05-04T16:30:25","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/pacwest-first-horizon-arconic-shopify-paramount-wayfair-and-more-movers\/"},"modified":"2023-05-04T12:30:26","modified_gmt":"2023-05-04T16:30:26","slug":"pacwest-first-horizon-arconic-shopify-paramount-wayfair-and-more-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=4149","title":{"rendered":"PacWest, First Horizon, Arconic, Shopify, Paramount, Wayfair, and More Movers"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000635297\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>Stock fell Thursday\u00a0as turmoil with regional lenders ballooned following the Federal Reserve\u2019s 10th straight latest interest-rate hike. <\/p>\n<p>These stocks were making moves Thursday:\u00a0<\/p>\n<div class=\"paywall\">\n<p>\n        PacWest Bancorp<br \/>\n       (ticker: PACW) was dropping 45%. The bank issued a statement saying that deposits were rising and that it was in ongoing discussions with partners and investors. The stock fell more than 50% in after-hours trading Wednesday following a report that said the regional lender was considering strategic options, including a sale.  Fellow regional bank<br \/>\n        Western Alliance<br \/>\n       (WAL) was down 22%. It also released a press release which said that it wasn\u2019t experiencing \u201cunusual deposit flows.\u201d<\/p>\n<p>\n        First Horizon<br \/>\n       (FHN) was dropping 36% after its merger agreement with<br \/>\n        Toronto-Dominion Bank<br \/>\n       (TD) was mutually terminated. The banks said TD doesn\u2019t have a timetable for regulatory approval of the deal and because there is \u201cuncertainty as to when and if these regulatory approvals can be obtained, the parties mutually agreed to terminate the merger agreement.\u201d<\/p>\n<p>\n        Arconic<br \/>\n       (ARNC) soared 28% after the aluminum products maker agreed to be bought by<br \/>\n        Apollo Global Management<br \/>\n       (APO) for $30 a share in cash.<br \/>\n        Apollo<br \/>\n       stock fell 2.3%. <\/p>\n<p>\n        Shopify<br \/>\n       (SHOP) gained 26% after the e-commerce company said it was selling off its logistics business, will be cutting 20% of its workforce, and posted an unexpected profit in its first quarter. <\/p>\n<p>\n        Paramount Global<br \/>\n       (PARA) shed 25% after the mass media company reported first-quarter earnings and revenue that missed expectations and cut its dividend.<\/p>\n<p>\n        Synaptics<br \/>\n       (SYNA), the chip maker, said it expects its fiscal fourth-quarter revenue to decline sequentially, and that it has begun to \u201cimplement spending controls\u201d as \u201ccustomer forecasts are being moderated in response to the current economic slowdown.\u201d The stock fell 20%.<\/p>\n<p>\n        Wayfair<br \/>\n       (W) climbed 19% after the online marketplace for furniture reported a narrower-than-expected first-quarter loss and said it would be profitable as soon as this quarter. <\/p>\n<p>\n        SolarEdge Technologies<br \/>\n       (SEDG) was rising 10% after the maker of inverters and software for solar energy reported first-quarter profit higher than estimates and said it sees \u201csupply-chain challenges gradually improving.\u201d Sunrun (RUN), the country\u2019s largest rooftop solar company, installed more solar power than expected in the first quarter.<br \/>\n        Sunrun<br \/>\n       shares were down 8.2% after the company said sales in the period rose 20% and orders jumped by 30%.<\/p>\n<p>\n        Planet Fitness<br \/>\n       (PLNT) shares lost 12% after the gym franchise posted worse-than-expected adjusted earnings for its first quarter.<\/p>\n<p>\n        Tripadvisor<br \/>\n       (TRIP) shares tumbled 10% after the online travel company\u2019s first-quarter loss widened from a year earlier. The loss of $73 million included a $55 million tax expense.<\/p>\n<p>\n        Qualcomm<br \/>\n       (QCOM) was down 6.9% after the chip maker issued a revenue forecast for the fiscal third quarter that was below analysts\u2019 expectations. Qualcomm cited softening demand for smartphones and a challenging macro environment.<\/p>\n<p>\n        Zillow<br \/>\n       (Z) shares climbed 9% to $46.16 after BofA analysts raised their price target on the stock to $55 from $54, a day after the online real estate company posted first-quarter revenue that beat expectations.<\/p>\n<p>\n        Apple<br \/>\n      \u2018s (AAPL) earnings report will be the highlight following the close of trading Thursday. Also reporting after the closing bell will be<br \/>\n        Coinbase<br \/>\n       (COIN),<br \/>\n        Block<br \/>\n       (SQ),<br \/>\n        Carvana<br \/>\n       (CVNA),<br \/>\n        DraftKings<br \/>\n       (DKNG), and<br \/>\n        Lyft<br \/>\n       (LYFT).  <\/p>\n<p>Write to Joe Woelfel at joseph.woelfel@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/stock-market-movers-d07d2701?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stock fell Thursday\u00a0as turmoil with regional lenders ballooned following the Federal Reserve\u2019s 10th straight latest interest-rate hike. These stocks were making moves Thursday:\u00a0 PacWest Bancorp (ticker: PACW) was dropping 45%. The bank issued a statement saying that deposits were rising and that it was in ongoing discussions with partners and investors. The stock fell more [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-4149","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PacWest, First Horizon, Arconic, Shopify, Paramount, Wayfair, and More Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stock fell Thursday\u00a0as turmoil with regional lenders ballooned following the Federal Reserve\u2019s 10th straight latest interest-rate hike. 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