FRC, FDX, NVDA, BMBL and more

Investors breathed a sigh of relief after the Swiss National Bank said it would provide a safety net for Credit Suisse.

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Find out which companies are making headlines in the midday business.

First Republic – Shares of the regional bank fell more than 20% even after the company was set to receive help from other financial institutions. The industry continues to be under pressure. PacWest and Western Alliance also lost more than 13% each, while KeyCorp slipped 8%.

Swiss credit – The Swiss bank’s U.S.-listed shares fell nearly 11% on Friday, a day after soaring on news 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 funding to the bank.

Discovery of Warner Bros. – The media company gained 2% after Wells Fargo upgraded the stock to overweight from equal weight. The company said it appreciated the company’s debt reduction efforts.

FedEx — The shipping company saw its shares jump more than 8% after the company’s third-quarter earnings beat analysts’ expectations. FedEx reported adjusted earnings of $3.41 per share, beating the Refinitiv consensus forecast of $2.73 per share. The company also raised its profit forecast for the full year.

Sarepta Therapeutic – The pharmaceutical name fell nearly 20% after regulators announced it would hold an advisory committee meeting for its SRP-9001 treatment for Duchene muscular dystrophy. The news fueled concerns about the treatment’s possible approval.

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

Bumble – Shares of the dating app jumped 3% after Citi launched coverage of the company with a buy rating, and said the stock could rebound more than 20% as would capture market share.

Crypto stocks – Crypto stocks rose along with the price of bitcoin as this week’s banking crisis sparked renewed interest in crypto. Coinbase and Microstrategy jumped 6% and 7% respectively. Bitcoin miners also got a big boost, with Riot Platforms climbing 10%, Hut 8 rising 6%, and Marathon Digital adding 4%.

CNBC’s Alex Harring, Tanaya Macheel, Michelle Fox and Samantha Subin contributed reporting.

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