PacWest — Shares plunged 20% after the regional bank stock said deposits fell 9.5% for the week ended May 5. Other regional banks stocks moved lower on the news, with Western Alliance and First Horizon down 7.3% and 3.2%, respectively. The company also reported revenue and profit that was roughly in line with Wall Street's expectations. AppLovin — Shares soared more than 16% in premarket trading following the company's first-quarter revenue and-second quarter guidance beat after the bell Wednesday. Analysts had anticipated a loss of $1.01 per share on revenue of $90.8 million, according to Refinitiv.

Source: The North Africa Journal May 11, 2023 13:53 UTC