Regional banks accelerated losses after after fears of banking system spread to Europe. Credit Suisse's largest shareholder refused to provide additional liquidity. Wells Fargo's shelf registration signaled more capital raise from other banks.
Cvent agreed to be acquired to go private again in less than three years. Order delivery and ride-sharing companies advanced after a California appeals court reversed the driver classification ruling by a lower court. United Airlines forecasted a first quarter loss.
Qualtrics agreed to be sold for the second time in five years. Signature Bank was seized by regulators after deposit withdrawals accelerated on Friday. First Republic Bank arranged additional financial liquidity.
Silicon Valley Bank was closed down after a run on the bank accelerated deposit withdrawals. Allbirds reported its first quarterly revenue decline. Oracle Corp said quarterly revenue rose but earnings fell.
BJ's Wholesale Club said quarterly earnings and sales rose on record membership renewals. SVB Financial, the operator of Silicon Valley Bank, said it plans to raise capital as startups burn through bank deposits.
BlackBerry said the latest quarterly results are expected to include a large non-cash goodwill impairment charges. Berkshire Hathaway increased its stake in Occidental petroleum. Stitch Fix reported a wider quarterly loss.
Best Buy forecasted holiday quarter sales weakness is likely to persist in 2023. Dell Technologies estimated weak outlook in the current fiscal year. Hibbett reported strong comparable store and online sales in its latest quarter.
Just Eat said annual loss expanded in 2022. Beiersdorf AG estimated lower organic sales growth in 2023. Vestas and Nordex won wind power turbine orders. Euronext withdrew its offer to acquire Allfunds Group.
Abercrombie & Fitch forecasted a weak outlook in the current quarter. The parent of Office Depot expanded its stock repurchase plan. Home improvement retailer Lowe's said comparable sales declined in its latest quarter.
Auto parts retailers AutoZone and Advance Auto reported better-than-expected quarterly results on stable demand for aftermarket parts. Target Corporation said higher discounts revived sales growth and extended 3-year sales increase to 30%.
Carvana said revenue declined and loss expanded. Wayfair said active customers declined. Planet Fitness said revenue and earnings rebounded. MercadoLibre swung to a profit on higher payment processing volume.
Dollar General lowered its fiscal year comparable sales and earnings per shar outlook on higher-than-expected damages from the recent winter storm. Domino's Pizza lowered its global sales outlook. Papa John's sales struggled after the lapping of covid-period demand surge.
Intel slashed its quarterly dividend. Coinbase said revenue continued to decline in its latest quarter. Toll Brothers said demand for new homes is unseasonably high in the current quarter.
