Etsy, Silvergate, Svb Financial, Uber And More Stocks Making Big Moves In Premarket

‍Etsy

As a result of Jefferies' double-downgrade to underperform from buy, the online marketplace's shares fell more than 6% on Wednesday. A growing number of buyers are leaving the company, causing them to spend more on marketing.

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Silvergate Capital

Silvergate Bank has announced it will liquidate its operations, resulting in a 50% fall in the company's shares. Following the collapse of FTX, which was the bank's customer, the bank announced it may no longer be able to continue operating. The announcement comes about a week after the bank warned it might not be able to continue operations.

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Uber

According to Trade Algo, Uber is considering spinning off its freight logistics division, which has led to shares of the ride-hailing company rising about 2% in premarket trading. A total of $1.5 billion was generated by the freight unit in the fourth quarter.

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MongoDB 

Premarket shares of this provider of database platform services declined over 10%. MongoDB's poor revenue guidance disappointed investors, leading to the decline. Results for the fourth quarter of the company beat expectations in terms of earnings and revenue.

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SVB Financial

Following announcements of plans to offer its common stock and depositary shares for $1.25 billion, the stock of the financial services company dropped 30%.

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Credit Suisse

After the Securities and Exchange Commission requested comments on the Swiss bank's annual report, shares of the company fell more than 4% in premarket trading. It was a comment about the bank's cash flow statements for 2019 and 2020 that was received from the regulator, according to the bank.

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LoanDepot 

Following a disappointing earnings report for the company's fourth quarter, its shares fell by more than 10%. With revenue of $169.7 million and a loss of 46 cents per share, the company reported a loss of 46 cents per share. A Trade Algo survey of analysts expected the company to lose 27 cents per share and to generate $190.9 million in revenue.

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Hilton

Prior to market opening, shares of the hotel group were up 0.5% after Barclays upgraded it from equal weight to overweight, claiming the company has the ability to weather macroeconomic challenges more effectively than its competition.