{"id":1923,"date":"2023-03-09T14:02:32","date_gmt":"2023-03-09T19:02:32","guid":{"rendered":"https:\/\/embarrdowns.com\/silvergate-capital-tumbles-50-credit-suisse-falls-4\/"},"modified":"2023-03-09T14:02:33","modified_gmt":"2023-03-09T19:02:33","slug":"silvergate-capital-tumbles-50-credit-suisse-falls-4","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/silvergate-capital-tumbles-50-credit-suisse-falls-4\/","title":{"rendered":"Silvergate Capital Tumbles 50%; Credit Suisse Falls 4%"},"content":{"rendered":"

Shares of MongoDB (NASDAQ:MDB) dropped 9% in after-hours trading late Wednesday afternoon as the cloud-database specialist reported solid growth for the fourth quarter of its 2023 fiscal year, but its guidance for the near future didn’t inspire the confidence that shareholders had wanted.[0]<\/a><\/sup> Investors were disappointed after MongoDB provided an outlook on revenue that was less than expected, resulting in a decrease.[1]<\/a><\/sup> For the fourth quarter, the company posted earnings and revenue that exceeded expectations.[1]<\/a><\/sup><\/p>\n

Silvergate Capital Corporation (NYSE:SI) shares were 34% lower after the company announced its intent to wind down operations and voluntarily liquidate the bank in an orderly manner and in accordance with applicable regulatory processes.[2]<\/a><\/sup> According to the plan, all deposits will be repaid, and Silvergate will have to consider the best way to resolve outstanding claims while preserving the value of its remaining assets.[3]<\/a><\/sup><\/p>\n

Shares of SVB Financial (NASDAQ:SIVB) dropped 28.9% following the announcement by the commercial bank that it plans to issue $1.25 billion worth of its common stock and $500 million of depositary shares.[2]<\/a><\/sup><\/p>\n

Uber (NYSE:UBER) stock rose 2.5% after Bloomberg reported that the ride-hailing firm is weighing a potential spinoff of its freight logistics unit.[4]<\/a><\/sup><\/p>\n

The NASDAQ-listed stock of Etsy (ETSY) experienced a 5.1% drop in value after Jefferies adjusted their opinion on the e-commerce crafts platform from ‘buy’ to ‘underperform’, suggesting a decrease in consumer spending.[0]<\/a><\/sup><\/p>\n

Tesla (TSLA) dropped 2.1% after U.S. officials announced plans to open a new investigation into a fatal crash in February involving a Model S where an advanced driver assistance system was suspected of having been used.[2]<\/a><\/sup><\/p>\n

The Dow Jones Industrial Average dropped 0.2%, the S&P 500 fell 0.2%, and the Nasdaq composite was nearly flat.[5]<\/a><\/sup> The Russell 2000, which tracks small-cap stocks, fell 1.2%.[6]<\/a><\/sup><\/p>\n

Silvergate Capital (\u201cSilvergate\u201d) shares tumbled 50% after the company announced it will wind down operations and liquidate Silvergate Bank.[7]<\/a><\/sup> Approximately seven days ago, the bank cautioned that it may not be capable of remaining in business, and this announcement follows a string of economic struggles and federal probes that occurred in the wake of the FTX downfall, for which the bank was a customer.[1]<\/a><\/sup><\/p>\n

The stock price of Credit Suisse (SIX:CSGN) (NYSE<\/p>\n

0. <\/span>“Silvergate, Etsy, JD.com and MongoDB fall premarket; Hilton, Uber rise By Investing.com” Investing.com Canada, 9 Mar. 2023, https:\/\/ca.investing.com\/news\/stock-market-news\/silvergate-etsy-jdcom-and-mongodb-fall-premarket-hilton-uber-rise-2927458<\/a><\/a><\/p>\n

1. <\/span>“Stocks Making the Biggest Premarket Moves: Silvergate, Etsy, SVB Financial, Uber & More” NBC San Diego, 9 Mar. 2023, https:\/\/www.nbcsandiego.com\/news\/business\/money-report\/stocks-making-the-biggest-premarket-moves-silvergate-etsy-svb-financial-uber-more\/3182432\/<\/a><\/a><\/p>\n

2. <\/span>“Markets Today: Stock Indexes Rise as Labor Market Softens” Barchart, 9 Mar. 2023, https:\/\/www.barchart.com\/story\/news\/14920762\/markets-today-stock-indexes-rise-as-labor-market-softens<\/a><\/a><\/p>\n

3. <\/span>“These 2 Stocks Are Feeling the Heat After Hours Wednesday” The Motley Fool, 8 Mar. 2023, https:\/\/www.fool.com\/investing\/2023\/03\/08\/these-2-stocks-are-feeling-the-heat-after-hours-we\/<\/a><\/a><\/p>\n

4. <\/span>“After-hours movers: Silvergate plunges on liquidation, Asana jumps on EPS, CEO’s plans to buy stock By Investing.com” Investing.com, 8 Mar. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/afterhours-movers-silvergate-plunges-on-liquidation-asana-jumps-on-eps-ceos-plans-to-buy-stock-432SI-3025547<\/a><\/a><\/p>\n

5. <\/span>“Dow futures flat, Asana pops 28.2% after earnings By Investing.com” Investing.com, 8 Mar. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/dow-futures-flat-asana-pops-282-after-earnings-3025566<\/a><\/a><\/p>\n

6. <\/span>“Stock Market Clings Onto Small Gains; More Banks Have A Rough Day” Investor’s Business Daily, 9 Mar. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/stock-market-rises-on-jobless-claims-two-bank-stocks-plunge<\/a><\/a><\/p>\n

7. <\/span>“Before the Bell: China Dodges US Chip Restrictions, Crypto Bank Liquidates, Tesla Steering Wheels Fall Off \u2013 24\/7 …” 24\/7 Wall St., 9 Mar. 2023, https:\/\/247wallst.com\/investing\/2023\/03\/09\/before-the-bell-china-dodges-us-chip-restrictions-crypto-bank-liquidates-tesla-steering-wheels-fall-off<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of MongoDB (NASDAQ:MDB) dropped 9% in after-hours trading late Wednesday afternoon as the cloud-database specialist reported solid growth for the fourth quarter of its 2023 fiscal year, but its guidance for the near future didn’t inspire the confidence that shareholders had wanted.[0]<\/a><\/sup> Investors were disappointed after MongoDB provided an outlook on revenue that was less than expected, resulting in a decrease.[1]<\/a><\/sup> For the fourth quarter, the company posted earnings and revenue that exceeded expectations.[1]<\/a><\/sup><\/p>\n

Silvergate Capital Corporation (NYSE:SI) shares were 34% lower after the company announced its intent to wind down operations and voluntarily liquidate the bank in an orderly manner and in accordance with applicable regulatory processes.[2]<\/a><\/sup> According to the plan, all deposits will be repaid, and Silvergate will have to consider the best way to resolve outstanding claims while preserving the value of its remaining assets.[3]<\/a><\/sup><\/p>\n

Shares of SVB Financial (NASDAQ:SIVB) dropped 28.9% following the announcement by the commercial bank that it plans to issue $1.25 billion worth of its common stock and $500 million of depositary shares.[2]<\/a><\/sup><\/p>\n

Uber (NYSE:UBER) stock rose 2.5% after Bloomberg reported that the ride-hailing firm is weighing a potential spinoff of its freight logistics unit.[4]<\/a><\/sup><\/p>\n

The NASDAQ-listed stock of Etsy (ETSY) experienced a 5.1% drop in value after Jefferies adjusted their opinion on the e-commerce crafts platform from ‘buy’ to ‘underperform’, suggesting a decrease in consumer spending.[0]<\/a><\/sup><\/p>\n

Tesla (TSLA) dropped 2.1% after U.S. officials announced plans to open a new investigation into a fatal crash in February involving a Model S where an advanced driver assistance system was suspected of having been used.[2]<\/a><\/sup><\/p>\n

The Dow Jones Industrial Average dropped 0.2%, the S&P 500 fell 0.2%, and the Nasdaq composite was nearly flat.[5]<\/a><\/sup> The Russell 2000, which tracks small-cap stocks, fell 1.2%.[6]<\/a><\/sup><\/p>\n

Silvergate Capital (\u201cSilvergate\u201d) shares tumbled 50% after the company announced it will wind down operations and liquidate Silvergate Bank.[7]<\/a><\/sup> Approximately seven days ago, the bank cautioned that it may not be capable of remaining in business, and this announcement follows a string of economic struggles and federal probes that occurred in the wake of the FTX downfall, for which the bank was a customer.[1]<\/a><\/sup><\/p>\n

The stock price of Credit Suisse (SIX:CSGN) (NYSE<\/p>\n

0. <\/span>“Silvergate, Etsy, JD.com and MongoDB fall premarket; Hilton, Uber rise By Investing.com” Investing.com Canada, 9 Mar. 2023, https:\/\/ca.investing.com\/news\/stock-market-news\/silvergate-etsy-jdcom-and-mongodb-fall-premarket-hilton-uber-rise-2927458<\/a><\/a><\/p>\n

1. <\/span>“Stocks Making the Biggest Premarket Moves: Silvergate, Etsy, SVB Financial, Uber & More” NBC San Diego, 9 Mar. 2023, https:\/\/www.nbcsandiego.com\/news\/business\/money-report\/stocks-making-the-biggest-premarket-moves-silvergate-etsy-svb-financial-uber-more\/3182432\/<\/a><\/a><\/p>\n

2. <\/span>“Markets Today: Stock Indexes Rise as Labor Market Softens” Barchart, 9 Mar. 2023, https:\/\/www.barchart.com\/story\/news\/14920762\/markets-today-stock-indexes-rise-as-labor-market-softens<\/a><\/a><\/p>\n

3. <\/span>“These 2 Stocks Are Feeling the Heat After Hours Wednesday” The Motley Fool, 8 Mar. 2023, https:\/\/www.fool.com\/investing\/2023\/03\/08\/these-2-stocks-are-feeling-the-heat-after-hours-we\/<\/a><\/a><\/p>\n

4. <\/span>“After-hours movers: Silvergate plunges on liquidation, Asana jumps on EPS, CEO’s plans to buy stock By Investing.com” Investing.com, 8 Mar. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/afterhours-movers-silvergate-plunges-on-liquidation-asana-jumps-on-eps-ceos-plans-to-buy-stock-432SI-3025547<\/a><\/a><\/p>\n

5. <\/span>“Dow futures flat, Asana pops 28.2% after earnings By Investing.com” Investing.com, 8 Mar. 2023, https:\/\/www.investing.com\/news\/stock-market-news\/dow-futures-flat-asana-pops-282-after-earnings-3025566<\/a><\/a><\/p>\n

6. <\/span>“Stock Market Clings Onto Small Gains; More Banks Have A Rough Day” Investor’s Business Daily, 9 Mar. 2023, https:\/\/www.investors.com\/market-trend\/stock-market-today\/stock-market-rises-on-jobless-claims-two-bank-stocks-plunge<\/a><\/a><\/p>\n

7. <\/span>“Before the Bell: China Dodges US Chip Restrictions, Crypto Bank Liquidates, Tesla Steering Wheels Fall Off \u2013 24\/7 …” 24\/7 Wall St., 9 Mar. 2023, https:\/\/247wallst.com\/investing\/2023\/03\/09\/before-the-bell-china-dodges-us-chip-restrictions-crypto-bank-liquidates-tesla-steering-wheels-fall-off<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":1922,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1923"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=1923"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/1923\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/1922"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=1923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=1923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=1923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}