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2023-03-09 13:06:00

Silvergate, Etsy, JD.com and MongoDB fall premarket; Hilton, Uber rise By Investing.com

Silvergate Capital (NYSE:SI) stock slumped 44% after the crypto-focused bank said late Wednesday it planned to close and voluntarily liquidate, after being hit by investors rushing to withdraw deposits after the bankruptcy of FTX last year. Uber (NYSE:UBER) stock rose 1.9% after Bloomberg reported that the ride-hailing firm is considering options to spin off its freight logistics business either in a sale or as a separate publicly traded company. Tesla (NASDAQ:TSLA) stock fell 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. Etsy (NASDAQ:ETSY) stock fell 5.1% after Jefferies downgraded its stance on the online crafts marketplace all the way down to 'underperform' from 'buy', citing slowing consumer spending. MongoDB (NASDAQ:MDB) stock fell 10.8% after the software company offered up softer than expected revenue guidance, overshadowing healthy fourth quarter results. Credit Suisse (SIX:CSGN) (NYSE:CS) stock fell 4.8% after the Swiss lender delayed the publication of its annual report after a last-minute call from the SEC, raising questions about its earlier financial statements. Hilton Worldwide (NYSE:HLT) stock rose 0.6% after Barclays upgraded the hotel chain to 'overweight' from 'equal-weight', saying it can weather the macro challenges better than its peers.

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