Check out the companies making the biggest moves midday:
Coinbase Globalfiled a complaint against crypto exchange operator Binance. The CFTC alleges the exchange actively solicited U.S. users and subverted the exchanges own “ineffective compliance program.” The suit called both bitcoin and ether “commodities.”
First Citizens BancSharesagreeing to buy Silicon Valley Bank’s deposits and loans. The deal includes about $72 billion of SVB assets at a discount of $16.5 billion.
First RepublicPacWest — Regional bank stocks moved higher on Monday after reports that the government was considering further support and that deposit outflows had slowed. Shares of First Republic jumped by 11.81%, while PacWest Bancorp rose about 3.46% and Western Alliance gained 3.03%
RokuSusquehanna upgraded it to positive from neutral. The Wall Street firm said it continues to see Roku as “a prime beneficiary of the secular shift of linear budgets.”
Ollie’s Bargain Outlet Holdings
International Flavors & Fragrances
PinterestUBS upgraded it to buy from neutral. The firm said PINS has the potential to improve advertising under new leadership.
Corningfiber optic cable maker advanced 1.52% after getting an upgrade at Deutsche Bank to buy from hold. Analyst Matthew Niknam said Corning is “turning a corner” on revenues and earnings per share.
–CNBC’s Alex Harring, Pia Singh, Yun Li, Sarah Min, Jesse Pound and Brian Evans contributed reporting.