Last Updated on March 15, 2023 by Bitfinsider
Credit Suisse — Credit Suisse shares fell 21.5% after the firm’s largest supporter, Saudi National Bank, said it would not provide additional financial assistance.
Bank of America, Morgan Stanley, and Wells Fargo are just a few examples. Shares of bigger financials fell early Wednesday as the Credit Suisse debacle sent shockwaves through the global banking industry. Bank of America fell 2.9%, Morgan Stanley fell 3.2%, and Wells Fargo fell nearly 4.2%.
Lennar — Shares of the homebuilder gained more than 1% in premarket trading after the company beat top and bottom-line forecasts for its fiscal first quarter. Lennar earned $2.06 per share on $6.49 billion in sales. Refinitiv polled analysts predicted $1.55 profits per share on $5.93 billion in sales. Home sales are up 9% year on year, but gross margins and new purchases are down.
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