Traders return to their desks tomorrow following Friday's selloff

Published: March 19 2023, 09:00 GMT+0

Traders return to their desks tomorrow following Friday's selloff

  • First Republic Bank was the biggest decliner after giving up 32.8% Friday As things stand, GoHealth (down 24.46%) and Bright Health (down 12.19%) are underperforming today
  • European markets were down Friday as CAC is down by 1.43%, reaching 6,925.4

An update of where Friday closed ahead of the next session: leading equity indices in the US declined as Dow Jones was down 1.19% before closing the session at 31,862. S&P 500 lost 1.1% and ended the session at 3,916.64.

Trading in the US will continue tomorrow in around a day time, meanwhile European markets closed lower Friday. Upbeat Asia-Pacific markets ended Friday higher as Nikkei moves up by 1.2%, reaching 27,334.

Friday's bearishness meant that First Republic Bank lost 32.8% Friday before closing at $23.03. As things stand, GoHealth (down 24.46%), Bright Health (down 12.19%) are also underperforming today.

Bright Health | Closed Friday's session at 27.51 cents

  • The health insurance provider has lost 15.71% over the last 9 days.

The health insurance provider has lost 15.71% over the last 9 days. So far this year, it has been under-performing the Nasdaq by 43.92%. The company has a market cap of $173.39 million with an average daily volume of 2.94 million shares. $551.42 million was Bright Health's last reported revenue with -34 cents being the current EPS.

First Republic Bank | -15.37% to $19.49 in pre-market trade with a day until open

  • This year has been a gloomy one for the regional full-service bank after trading as high as $170.53 and going on to lose 72.5% of its value.

So far this year, the regional full-service bank has declined 72.5% while touching highs around $170.53 earlier this year. So far this year, it has been doing worse than the S&P by 73.3%. Currently, the regional full-service bank has a market capitalization of $4.29 billion with an average daily trading volume of 10.72 million shares. First Republic Bank is forecasted to generate revenues of $1.44 billion and EPS of $1.82.

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