First Republic, PacWest rise premarket; United Airlines, BuzzFeed fall

By Scott Kanowsky

Investing.com -- Stocks in focus in premarket trade on Tuesday, March 14th. Please refresh for updates.

Shares in regional U.S. banks rose, but any rebound hopes were tempered by a warning from Moody's Investor Service about the stability of their funding bases and the paper losses that have accumulated in their bond portfolios. First Republic Bank (NYSE:FRC), Western Alliance Bancorporation (NYSE:WAL), Comerica Inc. (NYSE:CMA), KeyCorp (NYSE:KEY), Zions Bancorporation (NASDAQ:ZION) and PacWest Bancorp (NASDAQ:PACW) all rallied.

Larger banks, including Bank of America (NYSE:BAC), Wells Fargo & Company (NYSE:WFC) and Morgan Stanley (NYSE:MS), also climbed.

BuzzFeed, Inc. (NASDAQ:BZFD) shares dipped after the digital news site said much of its cash had been held by failed lender Silicon Valley Bank.

Ride-sharing apps Uber Technologies, Inc. (NYSE:UBER) and Lyft, Inc. (NASDAQ:LYFT), as well as delivery service DoorDash, Inc. (NYSE:DASH), all saw their shares rise in premarket U.S. trading on Tuesday after a California appeals court ruled that the companies can continue to treat their workers as independent contractors.

United Airlines Holdings, Inc. (NASDAQ:UAL) shares slumped after the carrier flagged that it expects to report a loss in the first quarter because of costs related to a deal with the pilots union and weaker travel demand at the beginning of 2023.

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