Midday movers: Charles Schwab, Enphase Energy, Alphabet and more
By Liz Moyer
Investing.com -- Stocks are wobbling as investors focus on bank earnings after the sector's turmoil in March sparked fears about a slowdown in lending. Here are the market movers for April 17.
Charles Schwab Corp (NYSE:SCHW) shares rose 2.7% after the brokerage giant beat expectations for the first quarter, when deposits fell 11% from the fourth quarter. Shares of State Street Corp (NYSE:STT) were down 11% after the custody bank fell short of expectations in the quarter. Enphase Energy Inc (NASDAQ:ENPH) shares rose 8% after the solar energy company caught an upgrade to Overweight from Neutral by Piper Sandler. Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG) shares fell more than 3% after reports that Samsung (KS:005930) was considering replacing the Google search engine on its devices with the Bing search engine created by Microsoft (NASDAQ:MSFT).
Prometheus Biosciences Inc (NASDAQ:RXDX) shares rose 49% a day after the maker of immune therapies agreed to a $10.8 billion deal to be acquired by Merck&Company Inc (NYSE:MRK), which is building out its portfolio of drugs.
Roblox Corp (NYSE:RBLX) shares were down 11% after the video game platform released data for March that hinted at a slowdown in average bookings per daily active user. For March, the number was $3.73 to $3.85. This is the firm's last monthly update, as it will shift to quarterly data reporting.
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