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First Republic, Meta Platforms, Harley-Davidson and Foot Locker rise premarket

Investing.com
·1-min read

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Tuesday, March 21st. Please refresh for updates.

First Republic Bank (NYSE:FRC) stock rose over 20% following a Bloomberg report that federal authorities are looking at ways to temporarily expand insurance to all deposits in the banking system. Separately, the Wall Street Journal reported that JPMorgan CEO Jamie Dimon is leading talks with the chiefs of other big banks about fresh efforts to stabilize the troubled lender.

Meta Platforms (NASDAQ:META) stock rose 2.7% after Morgan Stanley upgraded its stance on the Facebook-owner to ‘overweight’ from ‘equal weight’, saying the stock can rally more than 25% going forward.

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Amazon (NASDAQ:AMZN) stock rose 0.8% after the online retail giant announced plans late Monday to get rid of another 9,000 roles, piling on to a wave of layoffs that has swept the technology sector.

Harley-Davidson (NYSE:HOG) stock rose 3.8% after Morgan Stanley upgraded the maker of iconic motorcycles to ‘overweight’ from ‘equal weight’, saying the company’s focus on its main business can see the stock rise 30%.

Carnival (NYSE:CCL) stock rose 2.7% after Deutsche Bank said the cruise operator’s stock warrants a short-term ‘buy’ ahead of its earnings report, even as the bank keeps a longer term ‘hold’ rating.

Foot Locker (NYSE:FL) stock rose 4% after Citigroup upgraded the sportswear retailer to 'buy' from 'neutral', saying new CEO Mary Dillon was the "right leader for this moment." Tesla (NASDAQ:TSLA) stock rose 1.8% with the electric car manufacturer poised to report one of its best quarters in China, according to the latest retail sales data.

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