Stocks with the biggest moves premarket: CS, LEN, PACW

Credit Suisse Group Chairman Axel Lehmann speaks at the Institute of International Finance (IIF) Annual General Meeting, Friday, October 14, 2022, in Washington, DC.

Shen Ting | Bloomberg | Getty Images

Check out the companies making headlines before the market close.

credit suisse – Shares of Credit Suisse fell 21.5% after the firm’s biggest backer, the National Bank of Saudi Arabia, indicated that no further financial assistance would be provided. Credit Suisse and several other European banks, including general societyItalian easter hill and UniCredit Bankyes Suspension of trading With prices plummeting.

Bank of America, Morgan Stanley, FuGuo bank — Large financial stocks traded lower on Wednesday morning as Credit Suisse’s slump sent ripple effects through the global banking sector. Bank of America fell 2.9 percent, Morgan Stanley fell 3.2 percent and Wells Fargo fell nearly 4.2 percent.

leiner — Shares of the homebuilder rose more than 1% in premarket trading after Lennar beat expectations for its top and bottom lines for its fiscal first quarter. Lennar reported earnings of $2.06 per share on revenue of $6.49 billion. Analysts polled by Refinitiv expected earnings of $1.55 a share on revenue of $5.93 billion. Home delivery grew 9% year-over-year, but gross margins and new orders declined.

pacific western bank, U.S., key company — Several regional banks led Wednesday’s losses after gains on Tuesday. PacWest and Comerica fell 7.7 percent and 3.4 percent, respectively. KeyCorp shares fell 1.4 percent, Regional Finance decreased by 4.2% and Zion Bank down 5.5%. Shares of San Francisco-based First Republic bucked the trend and rose 3.8%.

royal caribbean — Shares of the cruise line fell 2.8 percent. The company recently refunded guests after it mistakenly offered a non-existent “Premier Pass” on its website. The company also announced that it will expand its sales force. Rival cruise operators also fell.

— CNBC’s Hakyung Kim and Jesse Pound contributed reporting.

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