Pinterest, Caterpillar, First Citizens, and others make the biggest moves premarket

‍Pinterest

There was an increase of 4.3% in price on Pinterest after UBS upgraded the social media stock from a hold to a buy and said its shares could increase by over 25% as the company improves its advertising strategies.

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First Citizens BancShares

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'First Citizens' shares increased by 40% on the news that it will buy around $72 billion worth of Silicon Valley Bank assets at a discount of $16.5 billion and will buy them at a discount of around 20%.

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First Republic, PacWest 

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On Monday, regional bank stocks rose following a Bloomberg News report claiming that U.S. authorities might expand government support for banks to provide additional liquidity to the financial system. It is expected that first republic's shares will rise 23 percent in premarket trading, PacWest Bank Corporation's shares will rise about 9%, and Western Alliance's shares will rise by 5%.

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Caterpillar

As a result of Baird's downgrade and the ongoing turmoil with regional banks regarding the company as part of their ratings, the machinery company's shares fell 1.2% after the company's shares dropped 1.2% after the company's shares were downgraded to underperform, citing a potential slowdown in new small- and medium-sized nonresidential projects in 2024.

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KeyCorp

In the past week, KeyCorp has gained 6.8% in value since Citi upgraded the stock to buy from neutral, indicating an upside potential of 68.6%. Citi analyst Keith Horowitz has a price target of $20, which indicates an upside potential of 68.6%.

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Dish Network

In a class action lawsuit filed by Dish investors between February 22, 2023 and February 27, 2023, the satellite company’s shares dropped 2.5% after the plaintiffs, who purchased the company’s stock between February 22, 2023 and February 27, 2023, filed the lawsuit against the company. Almost 38% of Dish's shares have fallen year to date as a result of a cybersecurity breach which caused a widespread network outage last month. The lawsuit claims that Dish overstated the company's infrastructure capabilities and efficiency.

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Ollie’s Bargain Outlet Holdings

Citigroup downgraded the stock from neutral to sell after the retailer had been having trouble scaling its business model and had low productivity with its new stores over the past several years due to its "difficult to scale" business model.

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Corning

A report by Deutsche Bank is forecasting a share appreciation of 2.3% following the upgrading to a buy from a hold recommendation for Corning. Analyst Matthew Niknam says the company is "turning around" on its earnings per share and revenues.