Midday movers: First Citizens BancShares, Novartis, Carnival Corp. and more

By Liz Moyer

Investing.com -- Stocks were mostly higher as banks helped lift the indexes, though rising Treasury yields weighed on tech stocks. Here are the midday movers for March 27.

First Citizens BancShares Inc (NASDAQ:FCNCA) jumped 50% on Monday after it struck a deal with banking regulators to acquire parts of Silicon Valley Bank, including deposits and branches. Other bank shares reacted positively. First Republic Bank (NYSE:FRC) stock was up 12%, and KeyCorp (NYSE:KEY) and M&T Bank Corp (NYSE:MTB) rose 5% and 2.3%, respectively after those two stocks were upgraded to Buy by Citi. Novartis AG ADR (NYSE:NVS) shares rose 8% after the pharmaceutical company said it had positive results from a test of its breast cancer drug in combination with endocrine therapy.

Carnival Corporation (NYSE:CCL) shares fell 5% after the cruise ship operator beat expectations and reported record bookings but gave an outlook for the second quarter and full year that disappointed.

BioNTech SE (NASDAQ:BNTX) shares dipped 1.4% after the COVID-19 vaccine maker said it saw lower-than-expected revenue this year because of waning demand for the vaccine.

Coinbase Global Inc (NASDAQ:COIN) shares tumbled 10% after the Commodity Futures Trading Commission filed a lawsuit against crypto exchange Binance, saying its compliance operations had been ineffective.

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