Shares of Credit Suisse and several other European banks were halted from trading as prices plummeted.
— Shares of the homebuilder rose more than 1% in premarket trading after Lennar beat estimates on the top and bottom lines for its fiscal first quarter. Lennar reported $2.06 in earnings per share on $6.
49 billion of revenue. Analysts surveyed by Refinitiv expected $1.55 in earnings per share on $5.93 billion of revenue. Home deliveries increase 9% year over year, but gross margin and new orders decreased.
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Credit Suisse unease sparks fresh selloff in world stocksRenewed unease gripped world markets on Wednesday as news that Credit Suisse's largest investor said it could not provide the Swiss bank with more financial assistance sent its shares and broader European shares sliding once more.
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Credit Suisse unease sparks fresh selloff in world stocks By Reuters⚠️BREAKING: *EUROPEAN STOCKS PLUNGE AS CREDIT SUISSE UNEASE SPARKS FRESH SELLOFF IN BANKS 🇪🇺🇩🇪🇫🇷🇮🇹🇪🇸🇬🇧
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STOCK MARKET NEWS: US stocks tumble, Credit Suisse shares fall sharplyWall Street falls sharply, Credit Suisse weighs on European banks. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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Stocks making the biggest moves after hours: Lennar, First Republic, Western Alliance and moreSee which stocks are posting big moves after the bell.
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Credit Suisse says outflows have stabilized but not reversedCredit Suisse said customer 'outflows stabilized to much lower levels but had not yet reversed as of the date of this report' in its 2022 annual report published on Tuesday.
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Credit Suisse finds 'material weaknesses' in financial reporting, says outflows 'not yet reversed'Credit Suisse said its net asset outflows had 'not yet reversed,' and that 'material weaknesses' were identified in its financial reporting processes.
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