12 minutes ago
Find opportunities in bank stocks
The sell-off in bank stocks is creating some opportunities for investors looking for stocks, according to investor Bonawyn Eison.
Despite the bank’s stock pullback on Monday, the CNBC contributor named Fifth Third and KeyBank, owned by KeyCorp, some of his top picks and names he sees as “operationally sound.”
“The fifth third is like a super regional,” he told CNBC’s Fast Money Monday. “None of them are at risk of contagion – I mean, that’s an exaggeration, but I don’t think it’s at that risk from an operational perspective.”
— Samantha Subin
15 minutes ago
Gitlab shares fall after weaker-than-expected forecast
Gitlab’s shares plunged 31% after the open-source software company released a weaker-than-expected outlook. According to Refinitiv, the company provided fiscal 2024 revenue guidance of $529 million to $533 million in 2023, down from expectations of $586.4 million.
Otherwise, the company reported a hit to the top and bottom lines in its fourth-quarter results, according to Refinitiv.
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Gitlab shares 1 day
21 minutes ago
Bitcoin has “a little more” room to play, says this technical analyst
Even with its roughly 15% rally on Monday, Bitcoin has more room to maneuver, according to the Carter Worth of Worth charting.
“There’s a bit more upside,” the technical analyst told CNBC’s Fast Money on Monday, noting that he sees Bitcoin heading at or slightly above $28,000.
“The downtrend line is clear, you can see it there, we’ve moved above it, we’ve come back to it and we’ve bounced, so a little bit more, but not much more,” he said.
Bitcoin surpassed $24,000 on Monday and was last trading up 14.7% at $24,191.75.
— Samantha Subin
23 minutes ago
February CPI data on deck for Tuesday
Investors will be watching closely for February’s CPI, which is due out on Tuesday. Economists polled by Dow Jones expect a 0.4% increase over the past month. That’s down from 0.5% in the previous month.
– Sarah Min
29 minutes ago
First Republic Bank shares rally after hours
Shares in First Republic Bank rose about 17% in extended trading on Monday after closing 61.8% on broader concerns about contagion in bank stocks following the collapse of Silicon Valley Bank.
Other bank stocks also rallied. The SPDR S&P Regional Banking ETF was up 1.1% in extended trading. KeyCorp shares gained 5.8%.
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First Republic Bank stocks 1 day
35 minutes ago
Stock futures open higher
US stock futures rose Monday night after the Dow Jones Industrial Average posted a fifth day of losses. Traders also eyed a key inflation report due Tuesday.
Dow Jones Industrial Average futures were up 78 points, or 0.24%. S&P 500 and Nasdaq 100 futures were up 0.2% and 0.15%, respectively.
– Sarah Min