First Citizens Buys Silicon Valley Bank Assets -- and Regional Bank Stocks Rally 3/27/23
Carl Quintanilla, Jim Cramer and David Faber led off the show with First Citizens Bank shares surging after the company agreed to acquire the assets, deposits and loans of failed Silicon Valley Bank. News of the deal tempered concerns about banking turmoil and gave a boost to regional bank stocks. Which regionals are worth buying now? Also in focus: Salesforce avoids a proxy fight with activist investor Elliott Management, the "AI effect" on mega-cap tech stocks, Apple CEO Tim Cook visits China, Caterpillar gets slapped with an "Underperform" rating, "Overweight"-ing Tesla and an upgrade to "Buy" for Pinterest. Squawk on the Street Disclaimer
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Show Notes
Carl Quintanilla, Jim Cramer and David Faber led off the show with First Citizens Bank shares surging after the company agreed to acquire the assets, deposits and loans of failed Silicon Valley Bank. News of the deal tempered concerns about banking turmoil and gave a boost to regional bank stocks. Which regionals are worth buying now? Also in focus: Salesforce avoids a proxy fight with activist investor Elliott Management, the "AI effect" on mega-cap tech stocks, Apple CEO Tim Cook visits China, Caterpillar gets slapped with an "Underperform" rating, "Overweight"-ing Tesla and an upgrade to "Buy" for Pinterest. Squawk on the Street Disclaimer
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