FRC, FDX, NVDA, BMBL and more

Investors breathed a sigh of relief after the Swiss National Bank announced it would provide a liquidity backstop to Credit Suisse.

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Check out the companies making headlines in midday trading.

First Republic – Regional bank shares fell over 20% even after the company is said to receive aid from other financial institutions. The industry is still under pressure. PacWest and Western Alliance were also down more than 13% each, while KeyCorp was down 8%.

CreditSuisse – US-listed shares of the Swiss bank fell almost 11% on Friday, a day after soaring on news that the bank will borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. The stock had a volatile week after Credit Suisse’s biggest investor said it would not provide additional funds to the bank.

Warner Bros. Discovery — The media company rose 2% after Wells Fargo upgraded the stock from equal weight to overweight. The company said it likes the company’s debt reduction efforts.

FedEx — The shipping company’s stock rose over 8% after company earnings beat analysts’ expectations in the third quarter. FedEx reported adjusted earnings of $3.41 per share, beating a Refinitiv consensus forecast of $2.73 per share. The company also raised its earnings guidance for the full year.

Sarepta Therapeutics – The pharmaceutical name fell nearly 20% after regulators announced they would hold an advisory committee meeting for its SRP-9001 treatment for Duchene muscular dystrophy. The news raised concerns about the eventual approval of the treatment.

NVIDIA – Nvidia shares rose more than 1% after Morgan Stanley upgraded the chipmaker to overweight from an equal weight rating as companies focus on AI developments. The bank said the AI ​​narrative for Nvidia is “too strong to stay on the sidelines.”

Bumble — Shares of the dating app rose 3% after Citi initiated coverage of the company with a buy rating, and said the stock could soar more than 20% if it captures market share.

Crypto Stocks – Crypto stocks rose with the price of bitcoin as the banking crisis sparked renewed interest in crypto this week. Coinbase and Microstrategy are up 6% and 7%, respectively. Bitcoin miners also saw a big boost, with Riot Platforms up 10%, Hut 8 up 6%, and Marathon Digital up 4%.

CNBC’s Alex Harring, Tanaya Macheel, Michelle Fox and Samantha Subin contributed coverage. FRC, FDX, NVDA, BMBL and more

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