What is The Stock Market Outlook for This Week?

This week, there are a couple of companies making headlines in the stock market, and they are listed below:

First Republic Bank, JPMorgan Chase

First Republic shares were delayed in the premarket trading after declining more than 45%. The move came after JPMorgan took charge of the First Republic after regulators took over the beleaguered bank. JPMorgan Chase is up by 3.6% in the premarket.

SPDR S&P Regional Banking ETF

Regional banking funds declined by 0.4% in premarket trading as investors acted to the demise of the First Republic. That bank’s stake in the fund was less than 0.15% on Friday. Among the other regional banks, PacWest was one of the biggest losers, down more than 5%.

Norwegian Cruise Line

The cruise line’s shares are up by 3% after Norwegian Cruise Line Holdings beat first-quarter highs and lows expectations. The company disclosed an adjusted loss per share of 30 cents, below the expected loss of 41 cents, according to Refinitiv estimates. It reported revenue of $1.82 billion, up from the $1.75 billion forecast.

General Motors

After Morgan Stanley enhanced GM from equal weight to overweight, the auto giant saw its shares rise nearly 3% in the pre-sale. Wall Street analyst Adam Jonas announced that GM shares are sold out. Shares are down 2% year-to-date despite strong recent gains.

Exxon Mobil

Shares are down by 5% after Goldman Sachs reduced the oil giant to neutral after buying it, saying its multi-year winning streak may be cooling off. Shares increased by 1.3% on Friday after the company announced a record first-quarter profit.

SoFi Technologies

SoFi Technologies made a 6% increase after the company’s quarterly results beat expectations. The student loan refinance company reported a loss of 5 cents a share on an annuity of $460.16 million. Analysts polled by Refinitiv had expected a loss of 7 cents per share on sales of $441 million.

ON Semiconductor

Shares of Semiconductor increased by 1.2% from the company’s first-quarter earnings report on Monday. Analysts polled by Refinitiv expect $1.09 per share on Sale of $1.93 billion.

Southern Copper is up more than 27% this year. Heart mining added a relatively modest 1.2% since the beginning of 2023, while Freeport-McMoRan is down 0.2% over the same period.