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Regional bank crisis continues as Republic First Bancorp is seized by U.S. regulators and sold to Fulton Bank.

US Regulators Seize Republic First Bancorp, Fulton Bank Steps In As Buyer Amid Regional Banking Woes

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U.S. stocks traded mostly lower toward the end of trading, with the Dow Jones falling over 100 points on Tuesday.

The Dow traded down 0.39% to 34,330.87 while the NASDAQ rose 0.24% to 13,530.50. The S&amp;P 500, also fell, dropping, 0.11% to 4,394.78.

Crude Oil Falls; Dick&#39;s Sporting Goods Earnings Miss Views

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Borqs Technologies, Inc. - Ordinary Shares

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GMVD

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HKIT

MDIA

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Gainers


	Fulcrum Therapeutics, Inc.  (NASDAQ: FULC) shares jumped 42.8% to $5.60 after the FDA lifted clinical hold on the company’s FTX-6058 for sickle cell disease.


Why Macy&#39;s Are Trading Lower By Around 11%? Here Are Other Stocks Moving In Tuesday&#39;s Mid-Day Session

Republic First Bancorp Inc

REPUBLIC FIRST BANCORP by Republic First Bancorp, Inc.

Republic First Bancorp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FRBK#OTC">FRBK</a>) has been seized by U.S. regulators and sold to Fulton Bank, a unit of Fulton Financial Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FULT#NASDAQ">FULT</a>). This comes a year after the collapse of three of its peers amid a <a href="https://www.benzinga.com/topic/banking-crisis">regional bank crisis</a>.
What Happened: The Philadelphia-based Republic First, which had previously halted funding negotiations with a group of investors, was taken over by the Pennsylvania Department of Banking and Securities, <a href="https://www.fdic.gov/news/press-releases/fulton-bank-na-lancaster-pennsylvania-assumes-substantially-all-deposits">reported</a> the Federal Deposit Insurance Corp. (FDIC) on Friday.
Fulton Bank will acquire almost all of Republic Bank&#8217;s assets and deposits to safeguard the depositors.
Republic Bank had approximately $6 billion in total assets and $4 billion in total deposits as of Jan. 31, 2024. The FDIC estimates the cost of the failure to its fund to be $667 million.
Apart from deposits, Republic First also had borrowings and other liabilities of about $1.3 billion, as per a statement by Fulton.
See Also: <a href="https://www.benzinga.com/news/24/04/38449517/white-house-declines-mike-johnsons-request-for-national-guard-deployment-amid-college-protests-over?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">White House Declines Mike Johnson&#8217;s Request For National Guard Deployment Amid College Protests</a>
The acquisition will nearly double Fulton&#8217;s presence in the Philadelphia market, with combined company deposits of approximately $8.6 billion. Republic Bank&#8217;s 32 branches in New Jersey, Pennsylvania, and New York will reopen as branches of Fulton Bank on Saturday or Monday during business hours.
Why It Matters: This development is the latest in the crisis brewing in the regional banking sector, which has been facing challenges since the collapse of three lenders &#8211; <a href="https://www.benzinga.com/government/23/03/31323955/the-big-picture-why-silicon-valley-bank-collapsed-a-simple-explainer">Silicon Valley Bank</a> and <a href="https://www.benzinga.com/markets/cryptocurrency/23/03/31422402/signature-banks-crypto-related-4b-deposits-will-be-returned-to-customers-what-else-is-plan">Signature Bank</a> in March 2023 and <a href="https://www.benzinga.com/markets/equities/23/05/32109816/first-republic-folds-as-banking-crisis-claims-third-victim-jpmorgan-to-buy-deposits-assets">First Republic</a><a href="https://www.benzinga.com/markets/equities/23/05/32109816/first-republic-folds-as-banking-crisis-claims-third-victim-jpmorgan-to-buy-deposits-assets"> in May</a>.
Republic Bank&#8217;s struggles began when it abandoned funding talks with a group of investors and were further exacerbated by the collapse of a deal with an investor group that included veteran businessman George Norcross and high-profile attorney Philip Norcross in February.
The bank&#8217;s stock price has plummeted from over $2 at the start of the year to about 1 cent on Friday, leading to its delisting from the Nasdaq in August.
Read Next: <a href="https://www.benzinga.com/news/24/04/38422645/trumps-niece-says-ex-president-could-see-potential-imprisonment-as-opportunity-donald-is-facing-real?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Niece Says Ex-President Could See Potential Imprisonment As Opportunity</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image created using Midjourney

U.S. stocks traded mostly lower toward the end of trading, with the Dow Jones falling over 100 points on Tuesday.
The Dow traded down 0.39% to 34,330.87 while the NASDAQ rose 0.24% to 13,530.50. The S&amp;P 500, also fell, dropping, 0.11% to 4,394.78.
Check This Out: <a href="https://www.benzinga.com/news/23/08/33980825/top-5-financial-stocks-you-may-want-to-dump-this-quarter"> Top 5 Financial Stocks You May Want To Dump This Quarter</a>
&nbsp; 
<h3>Leading and Lagging Sectors</h3>

Utilities shares rose by 0.3% on Tuesday.
In trading on Tuesday, financial shares fell by 0.8%.
&nbsp; 
<h3>Top Headline</h3>

Dick&#39;s Sporting Goods, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dks#NYSE">DKS</a>) reported worse-than-expected second-quarter results and lowered FY23 guidance.
Sales grew 3.6% Y/Y to $3.22 billion, missing the analyst consensus of $3.23 billion. Adjusted EPS of $2.82, down 23% Y/Y, missed the analyst consensus of $3.81.
The company reduced the adjusted EPS outlook to $11.50-$12.30 from $12.90-$13.80 vs. the consensus of $13.49.
&nbsp; 
<h3>Equities Trading UP</h3>

Fulcrum Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fulc#NASDAQ">FULC</a>) shares shot up 46% to $5.71 after the FDA lifted clinical hold on the company&rsquo;s FTX-6058 for sickle cell disease.
Shares of Fabrinet (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fn#NYSE">FN</a>) got a boost, shooting 29% to $151.15 after the company reported better-than-expected fourth-quarter financial results and issued guidance.
ProMIS Neurosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pmn#NASDAQ">PMN</a>) shares were also up, gaining 20% to $1.89. ProMIS Neurosciences announced a $20.4 million private placement financing at $1.88 per unit.
&nbsp; 
<h3>Equities Trading DOWN</h3>

Republic First Bancorp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frbk#NASDAQ">FRBK</a>) shares dropped 41% to $0.4132 after the Nasdaq notified the company that it will not be listed on the exchange because it has not filed its Form 10-K Annual Report with the SEC for FY22.
Shares of DICK&#39;S Sporting Goods, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dks#NYSE">DKS</a>) were down 24% to $112.21 after the company reported worse-than-expected second-quarter results and lowered FY23 guidance.
Dragonfly Energy Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dfli#NASDAQ">DFLI</a>) was down, falling 17% to $1.5901 after the company reported downbeat second-quarter results and issued weak forecast for the third quarter.
Also Check This Out: <a href="https://www.benzinga.com/news/23/08/33981110/hasbro-to-rally-over-42-here-are-10-other-analyst-forecasts-for-tuesday"> Hasbro To Rally Over 42%? Here Are 10 Other Analyst Forecasts For Tuesday</a>
&nbsp; 
<h3>Commodities</h3>

In commodity news, oil traded down 0.6% to $80.25 while gold traded up 0.2% at $1,926.10.
Silver traded up 0.6% to $23.48 on Tuesday while copper rose 1% to $3.7565.
&nbsp; 
<h3>Euro zone</h3>

European shares closed higher today. The eurozone&rsquo;s STOXX 600 gained 0.68% London&rsquo;s FTSE 100 rose 0.18% while Spain&rsquo;s IBEX 35 Index climbed 0.55% The German DAX gained 0.66% French CAC 40 rose 0.59%, while Italy&rsquo;s FTSE MIB Index jumped 0.64%.
The Eurozone reported a current account surplus of EUR 36.8 billion in June versus a revised EUR 4.4 billion gap in the year-ago month. Italy&#39;s current account surplus widened to EUR 5.995 billion in June from EUR 0.938 billion in the year-ago month.
Public <a href='https://www.benzinga.com/money/best-sectors-to-invest-in-right-now/'>sector</a> net borrowing, excluding banks, in the UK increased to &pound;4.3 billion in July from &pound;0.9 billion in the year-ago month. The Confederation of British Industry survey&#39;s total order book balance fell by 6 points to a reading of -15 in August.
&nbsp; 
<h3>Asia Pacific Markets</h3>

Asian markets closed higher on Tuesday, with Japan&rsquo;s Nikkei 225 rising 0.92%, China&rsquo;s Shanghai Composite Index gaining 0.88% and Hong Kong&rsquo;s Hang Seng Index gaining 0.95%. India&rsquo;s S&amp;P BSE Sensex, meanwhile, rose 0.01%.
&nbsp; 
<h3>Economics</h3>

Existing-home sales in the U.S. fell 2.2% from a month ago to an annualized rate of 4.07 million units in July.
The Manufacturing Activity Index in the Richmond area rose to -7 in August compared to July&rsquo;s reading of -9.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/08/33980102/around-39m-bet-on-energy-transfer-check-out-these-3-stocks-insiders-are-buying"> Around $39M Bet On Energy Transfer? Check Out These 3 Stocks Insiders Are Buying</a>
&nbsp; 
<h3>COVID-19 Update</h3>

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 107,846,210 cases with around 1,172,800 deaths. India confirmed a total of at least 44,996,650 cases and 531,920 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 694,026,200 cases of COVID-19 worldwide with more than 6,909,370 deaths.
&nbsp;

Crude Oil Falls; Dick's Sporting Goods Earnings Miss Views

<h3>Gainers</h3>
<ul>
<li>Fulcrum Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fulc#NASDAQ">FULC</a>) shares jumped 42.8% to $5.60 after the FDA lifted clinical hold on the company&rsquo;s FTX-6058 for sickle cell disease.</li>
<li>VinFast Auto Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vfs#NASDAQ">VFS</a>) gained 42% to $24.96.</li>
<li>Axcella Health Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/axla#NASDAQ">AXLA</a>) shares climbed 37.3% to $0.2101 after gaining 12% on Monday. The company recently posted a narrower-than-expected quarterly loss.</li>
<li>Sidus Space, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sidu#NASDAQ">SIDU</a>) shares gained 30.4% to $0.2101. Sidus Space acquired edge artificial intelligence company, Exo-Space.</li>
<li>BioNexus Gene Lab Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bglc#NASDAQ">BGLC</a>) jumped 28.3% to $1.35.</li>
<li>Fabrinet (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fn#NYSE">FN</a>) gained 25% to $146.01 after the company reported better-than-expected fourth-quarter financial results and issued guidance.</li>
<li>Borqs Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/brqs#NASDAQ">BRQS</a>) gained 24.4% to $0.2002. Borqs Technologies received extension from CFIUS for HHE divestment, and will consider share buyback and/or paying a special dividend.</li>
<li>Hitek Global Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hkit#NASDAQ">HKIT</a>) gained 22.2% to $27.50.</li>
<li>1847 Holdings LLC (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/efsh#NYSE">EFSH</a>) climbed 18.7% to $0.1389.</li>
<li>G Medical Innovations Holdings Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gmvd#NASDAQ">GMVD</a>) climbed 18% to $0.1862.</li>
<li>Renovaro Biosciences Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/renb#NASDAQ">RENB</a>) jumped 16.6% to $2.10.</li>
<li>2U, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/twou#NASDAQ">TWOU</a>) gained 16.5% to $3.39.</li>
<li>ProMIS Neurosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pmn#NASDAQ">PMN</a>) shares gained 16.4% to $1.84. ProMIS Neurosciences announced a $20.4 million private placement financing at $1.88 per unit.</li>
<li>MIND Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mind#NASDAQ">MIND</a>) jumped 15.6% to $0.6851. MIND Technology announced sale of Klein Unit for cash consideration of $11.5 million.</li>
<li>Hallmark Financial Services, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hall#NASDAQ">HALL</a>) shares rose 15.4% to $3.38. Hallmark Financial recently posted a second-quarter operating loss of $6.83 per share.</li>
<li>Matrix Service Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mtrx#NASDAQ">MTRX</a>) gained 15% to $7.35. Matrix Service Company announced receipt of $464 million of awards in the fourth quarter and ending backlog of $1.1 billion.</li>
<li>AMTD Digital Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hkd#NYSE">HKD</a>) jumped 13.8% to $5.69 after announcing a $30 million share repurchase program.</li>
<li>AerSale Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asle#NASDAQ">ASLE</a>) gained 9.7% to $13.87. AerSale completed certification flight testing for AerAware Enhanced Flight Vision System (EFVS).</li>
<li>Freight Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frgt#NASDAQ">FRGT</a>) rose 9% to $0.5441 after gaining around 4% on Monday.</li>
<li>Hasbro, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/has#NASDAQ">HAS</a>) gained 7.4% to $67.94. B of A Securities maintained Hasbro with a Buy and raised the price target from $85 to $90.</li>
<li>Super League Gaming, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/slgg#NASDAQ">SLGG</a>) shares rose 6.2% to $0.1277 after falling around 50% on Monday. Super League announced pricing of $2.2 million underwritten public offering of 16,923,077 shares of common stock at $0.13 per share.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Republic First Bancorp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frbk#NASDAQ">FRBK</a>) shares fell 44% to $0.3920 after the Nasdaq notified the company that it will not be listed on the exchange because it has not filed its Form 10-K Annual Report with the SEC for FY22.</li>
<li>Tingo Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tio#NASDAQ">TIO</a>) fell 30.4% to $0.8254. Tingo Group said it further postponed its second-quarter earnings release and filing of its form 10-Q for the period ended June 30, 2023.</li>
<li>SOS Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sos#NYSE">SOS</a>) fell 27.5% to $6.49 after jumping over 99% on Monday.</li>
<li>AgileThought, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/agil#NASDAQ">AGIL</a>) fell 25% to $0.23.</li>
<li>Dragonfly Energy Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dfli#NASDAQ">DFLI</a>) fell 24.7% to $1.45 after the company reported downbeat second-quarter results and issued weak forecast for the third quarter.</li>
<li>China SXT Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sxtc#NASDAQ">SXTC</a>) shares fell 24.2% to $0.1813 after gaining 60% on Monday.</li>
<li>DICK&#39;S Sporting Goods, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dks#NYSE">DKS</a>) declined 24% to $111.79 after the company reported worse-than-expected second-quarter results and lowered FY23 guidance.</li>
<li>Mullen Automotive, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/muln#NASDAQ">MULN</a>) fell 20.7% to $0.4924.</li>
<li>Motorsport Games Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msgm#NASDAQ">MSGM</a>) declined 20% to $3.71 following second-quarter results.</li>
<li>PureCycle Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pct#NASDAQ">PCT</a>) fell 17.3% to $8.14 after the company reported upsize and pricing of $215.0 million 7.25% green convertible senior notes due 2030.</li>
<li>AMC Entertainment Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) fell 17% to $2.58.</li>
<li>Geron Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gern#NASDAQ">GERN</a>) fell 15% to $2.2350. The FDA has assigned a standard review and a prescription drug user fee act action date of June 16, 2024 for Geron&#39;s new drug application for Imetelstat for transfusion-dependent anemia in patients with lower-risk myelodysplastic syndromes.</li>
<li>Society Pass Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sopa#NASDAQ">SOPA</a>) fell 14.4% to $0.4198. Society Pass said on Aug. 21, that the company entered into sales agreement with Ascendiant Capital Markets for offering of up to $10 million common stock.</li>
<li>AMC Entertainment Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ape#NYSE">APE</a>) fell 12.7% to $1.8498.</li>
<li>EBET, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ebet#NASDAQ">EBET</a>) declined 12.2% to $0.0565.</li>
<li>MediaCo Holding Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdia#NASDAQ">MDIA</a>) shares fell 12% to $0.66 after gaining more than 30% on Monday.</li>
<li>Macy&#39;s, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/m#NYSE">M</a>) fell 11.1% to $13.10 after the company reported second-quarter financial results.</li>
<li>Canadian Solar Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/csiq#NASDAQ">CSIQ</a>) declined 11.1% to $27.36 following quarterly results.</li>
<li>Emergent BioSolutions Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ebs#NYSE">EBS</a>) fell 10.6% to $4.2550. Advance Auto Parts will replace Emergent BioSolutions in the S&amp;P SmallCap 600, effective Aug. 25.</li>
<li>Nordstrom, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jwn#NYSE">JWN</a>) declined 8.3% to $17.48.</li>
<li>iQIYI, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iq#NASDAQ">IQ</a>) fell 7.6% to $4.8050 following second-quarter results.</li>
<li>Kohl&#39;s Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kss#NYSE">KSS</a>) declined 6.4% to $26.87.</li>
<li>V.F. Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vfc#NYSE">VFC</a>) fell 6% to $19.17.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/23/08/33984464/toll-brothers-likely-to-post-higher-q3-earnings-heres-a-look-at-recent-price-target-changes-by-the-"> Toll Brothers Likely To Post Higher Q3 Earnings; Here&#39;s A Look At Recent Price Target Changes By The Most Accurate Analysts</a>

Why Macy's Are Trading Lower By Around 11%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

U.S. stocks traded mixed midway through trading, with the Dow Jones falling over 100 points on Tuesday.
The Dow traded down 0.32% to 34,354.22 while the NASDAQ rose 0.52% to 13,567.52. The S&amp;P 500, also rose, gaining, 0.07% to 4,402.67.
Check This Out: <a href="https://www.benzinga.com/news/23/08/33980825/top-5-financial-stocks-you-may-want-to-dump-this-quarter"> Top 5 Financial Stocks You May Want To Dump This Quarter</a>
&nbsp; 
<h3>Leading and Lagging Sectors</h3>

Communication services shares rose by 0.8% on Tuesday.
In trading on Tuesday, financial shares fell by 0.7%.
&nbsp; 
<h3>Top Headline</h3>

Existing-home sales in the U.S. fell 2.2% from a month ago to an annualized rate of 4.07 million units in July.
&nbsp; 
<h3>Equities Trading UP</h3>

Fulcrum Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fulc#NASDAQ">FULC</a>) shares shot up 49% to $5.87 after the FDA lifted clinical hold on the company&rsquo;s FTX-6058 for sickle cell disease.
Shares of Fabrinet (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fn#NYSE">FN</a>) got a boost, shooting 28% to $149.15 after the company reported better-than-expected fourth-quarter financial results and issued guidance.
Sidus Space, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sidu#NASDAQ">SIDU</a>) shares were also up, gaining 18% to $0.1901. Sidus Space acquired edge artificial intelligence company, Exo-Space.
&nbsp; 
<h3>Equities Trading DOWN</h3>

Republic First Bancorp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frbk#NASDAQ">FRBK</a>) shares dropped 42% to $0.4058 after the Nasdaq notified the company that it will not be listed on the exchange because it has not filed its Form 10-K Annual Report with the SEC for FY22.
Shares of DICK&#39;S Sporting Goods, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dks#NYSE">DKS</a>) were down 24% to $111.69 after the company reported worse-than-expected second-quarter results and lowered FY23 guidance.
Dragonfly Energy Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dfli#NASDAQ">DFLI</a>) was down, falling 22% to $1.50 after the company reported downbeat second-quarter results and issued weak forecast for the third quarter.
Also Check This Out: <a href="https://www.benzinga.com/news/23/08/33981110/hasbro-to-rally-over-42-here-are-10-other-analyst-forecasts-for-tuesday"> Hasbro To Rally Over 42%? Here Are 10 Other Analyst Forecasts For Tuesday</a>
&nbsp; 
<h3>Commodities</h3>

In commodity news, oil traded down 0.1% to $80.63 while gold traded up 0.1% at $1,924.60.
Silver traded up 0.3% to $23.405 on Tuesday while copper rose 0.9% to $3.7535.
&nbsp; 
<h3>Euro zone</h3>

European shares were higher today. The eurozone&rsquo;s STOXX 600 gained 0.77% London&rsquo;s FTSE 100 rose 0.24% while Spain&rsquo;s IBEX 35 Index climbed 0.66% The German DAX gained 0.70% French CAC 40 rose 0.68%, while Italy&rsquo;s FTSE MIB Index jumped 0.78%.
The Eurozone reported a current account surplus of EUR 36.8 billion in June versus a revised EUR 4.4 billion gap in the year-ago month. Italy&#39;s current account surplus widened to EUR 5.995 billion in June from EUR 0.938 billion in the year-ago month.
Public <a href='https://www.benzinga.com/money/best-sectors-to-invest-in-right-now/'>sector</a> net borrowing, excluding banks, in the UK increased to &pound;4.3 billion in July from &pound;0.9 billion in the year-ago month. The Confederation of British Industry survey&#39;s total order book balance fell by 6 points to a reading of -15 in August.
&nbsp; 
<h3>Asia Pacific Markets</h3>

Asian markets closed higher on Tuesday, with Japan&rsquo;s Nikkei 225 rising 0.92%, China&rsquo;s Shanghai Composite Index gaining 0.88% and Hong Kong&rsquo;s Hang Seng Index gaining 0.95%. India&rsquo;s S&amp;P BSE Sensex, meanwhile, rose 0.01%.
&nbsp;
Economics
Existing-home sales in the U.S. fell 2.2% from a month ago to an annualized rate of 4.07 million units in July.
The Manufacturing Activity Index in the Richmond area rose to -7 in August compared to July&rsquo;s reading of -9.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/08/33980102/around-39m-bet-on-energy-transfer-check-out-these-3-stocks-insiders-are-buying"> Around $39M Bet On Energy Transfer? Check Out These 3 Stocks Insiders Are Buying</a>
&nbsp; 
<h3>COVID-19 Update</h3>

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 107,846,210 cases with around 1,172,800 deaths. India confirmed a total of at least 44,996,650 cases and 531,920 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 694,026,200 cases of COVID-19 worldwide with more than 6,909,370 deaths.

Dow Falls Over 100 Points; US Existing Home Sales Decline In July

U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining over 50 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.07% to 34,439.33 while the NASDAQ rose 0.43% to 13,555.37. The S&amp;P 500, also rose, gaining, 0.20% to 4,408.63.
Check This Out: <a href="https://www.benzinga.com/news/23/08/33980825/top-5-financial-stocks-you-may-want-to-dump-this-quarter"> Top 5 Financial Stocks You May Want To Dump This Quarter</a>
&nbsp; 
<h3>Leading and Lagging Sectors</h3>

Consumer discretionary shares rose by 0.5% on Tuesday.
In trading on Tuesday, consumer staples shares fell by 0.5%.
&nbsp; 
<h3>Top Headline</h3>

Lowe&#39;s Companies Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/low#NYSE">LOW</a>) reported better-than-expected second-quarter earnings and reaffirmed FY23 outlook.
Lowe&#39;s reported a second-quarter FY23 sales decline of 9.17% year-on-year to $24.96 billion, marginally missing the analyst consensus of $24.99 billion. EPS of $4.56 beat the analyst consensus estimate of $4.49.
Lowe&#39;s reaffirmed its FY23 revenue outlook of $87 billion - $89 billion, against the Street view of $88.08 billion. It sees FY23 adjusted EPS of $13.20 - $13.60 against the consensus of $13.37.
&nbsp; 
<h3>Equities Trading UP</h3>

Fulcrum Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fulc#NASDAQ">FULC</a>) shares shot up 52% to $5.96 after the FDA lifted clinical hold on the company&rsquo;s FTX-6058 for sickle cell disease.
Shares of Axcella Health Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/axla#NASDAQ">AXLA</a>) got a boost, shooting 39% to $0.2441 after gaining 12% on Monday. The company recently posted a narrower-than-expected quarterly loss.
Sidus Space, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sidu#NASDAQ">SIDU</a>) shares were also up, gaining 30% to $0.2087. Sidus Space acquired edge artificial intelligence company, Exo-Space.
&nbsp; 
<h3>Equities Trading DOWN</h3>

Republic First Bancorp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frbk#NASDAQ">FRBK</a>) shares dropped 39% to $0.4259 after the Nasdaq notified the company that it will not be listed on the exchange because it has not filed its Form 10-K Annual Report with the SEC for FY22.
Shares of Tingo Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tio#NASDAQ">TIO</a>) were down 32% to $0.8054. Tingo Group said it further postponed its second-quarter earnings release and filing of its form 10-Q for the period ended June 30, 2023.
SOS Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sos#NYSE">SOS</a>) was down, falling 25% to $6.74 after jumping over 99% on Monday.
Also Check This Out: <a href="https://www.benzinga.com/news/23/08/33981110/hasbro-to-rally-over-42-here-are-10-other-analyst-forecasts-for-tuesday"> Hasbro To Rally Over 42%? Here Are 10 Other Analyst Forecasts For Tuesday</a>
&nbsp; 
<h3>Commodities</h3>

In commodity news, oil traded down 0.3% to $80.50 while gold traded up 0.2% at $1,926.30.
Silver traded up 0.3% to $23.415 on Tuesday while copper rose 0.8% to $3.7490.
&nbsp; 
<h3>Euro zone</h3>

European shares were higher today. The eurozone&rsquo;s STOXX 600 gained 1.1% London&rsquo;s FTSE 100 rose 0.7% while Spain&rsquo;s IBEX 35 Index climbed 1% The German DAX gained 1.1% French CAC 40 rose 1.2%, while Italy&rsquo;s FTSE MIB Index jumped 1%.
The Eurozone reported a current account surplus of EUR 36.8 billion in June versus a revised EUR 4.4 billion gap in the year-ago month. Italy&#39;s current account surplus widened to EUR 5.995 billion in June from EUR 0.938 billion in the year-ago month.
Public <a href='https://www.benzinga.com/money/best-sectors-to-invest-in-right-now/'>sector</a> net borrowing, excluding banks, in the UK increased to &pound;4.3 billion in July from &pound;0.9 billion in the year-ago month. The Confederation of British Industry survey&#39;s total order book balance fell by 6 points to a reading of -15 in August.
&nbsp; 
<h3>Asia Pacific Markets</h3>

Asian markets closed higher on Tuesday, with Japan&rsquo;s Nikkei 225 rising 0.92%, China&rsquo;s Shanghai Composite Index gaining 0.88% and Hong Kong&rsquo;s Hang Seng Index gaining 0.95%. India&rsquo;s S&amp;P BSE Sensex, meanwhile, rose 0.01%.
&nbsp; 
<h3>Economics</h3>

Data on existing home sales will be released today.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/08/33980102/around-39m-bet-on-energy-transfer-check-out-these-3-stocks-insiders-are-buying"> Around $39M Bet On Energy Transfer? Check Out These 3 Stocks Insiders Are Buying</a>
&nbsp; 
<h3>COVID-19 Update</h3>

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 107,846,210 cases with around 1,172,800 deaths. India confirmed a total of at least 44,996,650 cases and 531,920 deaths, while France reported over 40,138,560 COVID-19 cases with 167,640 deaths. In total, there were at least 694,026,200 cases of COVID-19 worldwide with more than 6,909,370 deaths.

US Stocks Mixed; Lowe's Posts Upbeat Earnings

WIIM

Republic First Bancorp shares are trading lower after the Nasdaq notified the company that it will not be listed on the exchange because it has not filed its Form 10-K Annual Report with the SEC for FY22.

Republic First Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRBK#NASDAQ">FRBK</a>) (&quot;Republic&quot; or the &quot;Company&quot;), the parent company of Republic First Bank d/b/a Republic Bank, today announced that it has been notified by the Listing Qualifications Department of The Nasdaq Stock Market LLC (&quot;Nasdaq&quot;) that, as of the opening of business on August 23, 2023, the Company&#39;s common stock will no longer be listed on the exchange because the Company has not yet filed its Annual Report on Form 10-K with the Securities and Exchange Commission (the &quot;SEC&quot;) for fiscal year 2022. The Company expects its common stock to promptly begin trading on the OTC marketplace, enabling investors to continue to access accurate information, including stock price quotes, and execute trades. 
&nbsp;
Republic&#39;s Board of Directors and new executive team have been working with the Company&#39;s auditor and outside advisors to complete and file all delayed reports as soon as practicable. Republic&#39;s audit and financial filings have been delayed, in part, by the former executive team&#39;s failure to maintain adequate internal controls and related to a systems conversion implemented in June 2022. Consequently, the audit process that new management and the Company&#39;s external advisors had to undertake has been extensive and time-consuming.
The Company may apply to list on a major exchange after it files all delayed reports and meets other listing requirements. The new management team remains focused on implementing Republic&#39;s strategic plan, which includes a renewed emphasis on core banking services, strengthening franchise value in its highly attractive Metropolitan Philadelphia and Southern New Jersey markets and improving operational efficiencies.
Additional information related to today&#39;s update is included in a Current Report on Form 8-K filed by Republic with the SEC. A Q&amp;A document for investors is also available on Republic&#39;s investor relations&nbsp;<a href="https://www.globenewswire.com/Tracker?data=c4rQOKznO4EkvBHnyBjYwL196to0mkxIk3qpVqzdt3VRt-Bi4Oq42-HME45oaDfMUz-XSkcExVUdXQ2ECTweXkSU5_WMJR7YjiNTPcHpqQj6FY5ehf0wSfOIprvWUIVwUqMcUM9-VPS0kXwSkrJnNg==" target="_blank">website</a>.

Republic Bank Has Been Notified By The Listing Qualifications Department Of The Nasdaq That, As Of August 23, The Co's Stock Will No Longer Be Listed On The Exchange Because The Company Has Not Filed Its Annual Report On Form 10-K With The SEC For FY22

Republic First Bancorp shares are trading lower after the company receive a compliance notice and a new notice of non-compliance from Nasdaq.

Republic First Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRBK#NASDAQ">FRBK</a>) (the &quot;Company&quot;), the holding company for Republic First Bank d/b/a Republic Bank, announced that, as anticipated, on August 11, 2023, The Nasdaq Stock Market LLC (&quot;Nasdaq&quot;) notified the Company that because the Company&#39;s Form 10-Q for the three months ended June 30, 2023 (the &quot;Form 10-Q&quot;) was not timely filed with the Securities and Exchange Commission (the &quot;SEC&quot;), the Company did not satisfy Nasdaq Listing Rule 5250(c)(1) (the &quot;Filing Requirement&quot;) and that the Nasdaq Hearings Panel (the &quot;Panel&quot;) would consider the additional deficiency in its deliberations regarding the Company&#39;s continued listing. The Company intends to present its plan to file the Form 10-Q with the SEC and thereby evidence full compliance with the Filing Requirement for the Panel&#39;s review.

Republic First Bancorp, Inc. Receives Compliance Notice And New Notice Of Non-Compliance From Nasdaq

Company Announces that Republic and Affiliates of Castle Creek Capital and Cohen Private Ventures Have Agreed to Mutually Terminate Previously Announced Capital Raise 
&nbsp;
Releases Presentation Detailing Strategic Initiatives and Republic&#39;s Significant Opportunities
PHILADELPHIA, July 17, 2023 (GLOBE NEWSWIRE) -- Republic First Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRBK#NASDAQ">FRBK</a>) (&quot;Republic&quot; or the &quot;Company&quot;), the parent company of Republic First Bank d/b/a Republic Bank (the &quot;Bank&quot;), today announced that Chairman Andrew B. Cohen and President and Chief Executive Officer Thomas X. Geisel have sent a letter to shareholders. The letter explains the challenges Republic has faced, details the elements of the strategy being executed by the new management team and overseen by a refreshed Board, and highlights the significant opportunities the Company has to deliver long-term value. The Company also issued a new presentation covering in detail the strategic initiatives underway at Republic.
<ul>
<li>The letter to shareholders is available&nbsp;<a href="https://investors.myrepublicbank.com/files/doc_downloads/2023/07/letter-to-shareholders_july-17-2023.pdf" target="_blank">here</a>.</li>
<li>The new presentation is available&nbsp;<a href="http://investors.myrepublicbank.com/news-market-data/presentations/presentation-details/2023/Repositioning-for-Sustainable-Growth-2023-4dpdrJaKhl" target="_blank">here</a>.</li>
</ul>
Republic also announced that it, affiliates of Castle Creek Capital (together with its affiliates and co-investors, &quot;Castle Creek&quot;) and an affiliate of Cohen Private Ventures, LLC (&quot;Cohen Private Ventures&quot;) have mutually decided to terminate the previously announced agreement (the &quot;Agreement&quot;) to raise&nbsp;$125 million&nbsp;in capital (the &quot;Capital Raise&quot;) for the Company through a private placement of equity securities. The Capital Raise was predicated on identifying additional investors to participate at the same&nbsp;$2.25&nbsp;price per share as Castle Creek and Cohen Private Ventures by September 9, 2023. Given current market conditions &ndash; especially the widespread tightening of access to the equity capital markets across the banking sector &ndash; the parties do not believe that participants could be found on those terms by September 9th.
Thomas Geisel commented:
&quot;We are executing on a clear strategy to address legacy issues stemming from prior management, drive profitability and enhance shareholder value. Importantly, this plan does not necessitate raising new capital in the near term. Given the dislocation in the banking sector that has occurred since the announcement of the Capital Raise, we believe its termination is in the best interests of Republic and all our stakeholders. We of course remain open to evaluating a future capital transaction as part of our value-creating strategy as market conditions stabilize and improve.&quot;
Tony Scavuzzo, Managing Principal of Castle Creek, stated:
&quot;We continue to remain impressed with how the new Republic First management team is managing the bank in a very challenged environment. We look forward to following them as they continue to execute on their strategic plan.&quot;
Shareholders can sign up to receive updates and announcements from Republic by visiting the investor relations&nbsp;<a href="https://www.globenewswire.com/Tracker?data=EWHFGOP-VF9ZYs5Kx9MBgEeIED5RcV21obTdFg9GGRxE_q5qTtsHZl4moLumWTMKr5VEq6ucB4Zq20cKiBRi4ycHns0-vDz8yyijE34gsbIsnW3vEHe8Abek6PDfUbJZwF7NAJrTzm5MhzNtELb44LZ4CfjOeCutiSQXmsI9xmw=" target="_blank">page</a>&nbsp;of the Company&#39;s website.
About Republic Bank
Republic Bank is the operating name for Republic First Bank. Republic First Bank is a full-service, state-chartered commercial bank, whose deposits are insured up to the applicable limits by the Federal Deposit Insurance Corporation (FDIC). The Bank provides diversified financial products through its 34 offices located in Atlantic, Burlington, Camden, and Gloucester Counties in New Jersey; Bucks, Delaware, Montgomery and Philadelphia Counties in Pennsylvania and New York County in New York. For more information about Republic Bank, please visit&nbsp;<a href="https://www.globenewswire.com/Tracker?data=s3txkxQ6XAJCvp_6Y5P5-l3awy7D7aqjfxwNaIpCEo58zAtsGe1R2D2e2kU033e-P9RSd1nz7PvYF5hUgd29UQIZv7AtSHxwBcW5_CTgzoc=" target="_blank">myrepublicbank.com</a>.

Guidance

Management

Republic First Bancorp, Inc. Chairman Andrew Cohen And CEO Thomas Geisel Send Letter To Shareholders Outlining Progress On Strategy To Transform Company, Increase Profitability And Drive Long-Term Value

The most oversold stocks in the financial sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi"> RSI is below 30.</a>
Here&rsquo;s the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3>The Progressive Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pgr#NYSE">PGR</a>)</h3>
<ul>
<li>Progressive reported below-consensus second-quarter results. The company disclosed Q2 net premiums earned an increase of 19% Y/Y to $14.46 billion, which missed the consensus estimate of $14.98 billion. The company&rsquo;s stock has a <a href="https://www.benzinga.com/quote/PGR">52-week low of $109.42 </a>.</li>
<li>RSI Value: 25.93</li>
<li>PGR Price Action: Shares of Progressive gained 1.8% to close at $116.79 on Friday.</li>
</ul>
<h3>Cherry Hill Mortgage Investment Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/chmi#NYSE">CHMI</a>)</h3>
<ul>
<li>Cherry Hill Mortgage posted downbeat quarterly earnings. &quot;The persistently challenging macro environment, exacerbated by recent bank liquidity headwinds, impacted book value in the quarter,&quot; said Jay Lown, President and Chief Executive Officer of Cherry Hill Mortgage Investment Corporation. It <a href="https://www.benzinga.com/quote/CHMI"> has a 52-week low </a> of $4.18.</li>
<li>RSI Value: 25.27</li>
<li>CHMI Price Action: Shares of Cherry Hill Mortgage Investment fell 1.2% to close at $4.19 on Friday.</li>
</ul>
<h3>Maiden Holdings, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mhld#NASDAQ">MHLD</a>)</h3>
<ul>
<li>Maiden Hldgs reported a sharp rise in first-quarter sales. The company&rsquo;s stock has a 52-week <a href="https://www.benzinga.com/quote/MHLD"> low of $1.64.</a></li>
<li>RSI Value: 26.73</li>
<li>MHLD Price Action: Shares of Maiden Holdings fell 1.7% to close at $1.70 on Friday.</li>
</ul>
<h3>Republic First Bancorp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frbk#NASDAQ">FRBK</a>)</h3>
<ul>
<li>Republic First Bancorp recently announced the election of Andrew Cohen as independent chairman of the board. The company&rsquo;s 52-week low is $0.62.</li>
<li>RSI Value: 29.77</li>
<li>FRBK Price Action: Shares of Republic First Bancorp fell 4.5% to close at $0.7664 on Friday.</li>
</ul>
<h3>The Allstate Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/all#NYSE">ALL</a>)</h3>
<ul>
<li>Piper Sandler recently maintained Allstate with an Overweight and lowered the price target from $141 to $137. The company <a href="https://www.benzinga.com/quote/ALL"> has a 52-week low </a> of $100.97.</li>
<li>RSI Value: 27.87</li>
<li>ALL Price Action: Shares of Allstate fell 3.5% to close at $101.18 on Friday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/23/07/33230688/wall-streets-most-accurate-analysts-say-hold-these-3-tech-stocks-delivering-high-dividend-yields"> Wall Street&#39;s Most Accurate Analysts Say Hold These 3 Tech Stocks Delivering High-Dividend Yields </a>

Long Ideas

Pre-Market Outlook

CHMI

MHLD

Top 5 Financial Stocks That Could Blast Off In July

ACNB

AROW

CUBI

CVBF

CZNC

FFBC

FFIC

FFWM

FGBI

INDB

MYFW

PACW

PPBI

ROOT

SMMF

TRUP

UBSI

UCBI

WSFS

Shares of banks and financial services stocks are trading higher. Strength may be due to a rotation out of tech names and an overall sector rebound following banking concerns earlier in the year.

Republic First Bancorp Announces The Election Of Andrew Cohen As Independent Chairman Of The Board Effective June 1

<h3>Gainers</h3>
<ul>
<li>Greenhill &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GHL#NYSE">GHL</a>) stock rose 115.5% to $14.61 during Monday's pre-market session. The market value of their outstanding shares is at $267.6 million. </li>
<li>Netcapital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCPL#NASDAQ">NCPL</a>) shares rose 20.91% to $2.37. The market value of their outstanding shares is at $15.2 million. </li>
<li>Forge Global Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRGE#NYSE">FRGE</a>) shares rose 14.91% to $1.31. The company's market cap stands at $227.9 million. </li>
<li>PacWest Banc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACW#NASDAQ">PACW</a>) stock increased by 10.12% to $6.31. The market value of their outstanding shares is at $758.7 million. </li>
<li>PacWest Banc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACWP#NASDAQ">PACWP</a>) stock rose 8.95% to $10.46. </li>
<li>Republic First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRBK#NASDAQ">FRBK</a>) shares rose 7.81% to $1.38. The company's market cap stands at $88.1 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>CaliberCos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CWD#NASDAQ">CWD</a>) shares declined by 12.6% to $4.59 during Monday's pre-market session. The market value of their outstanding shares is at $99.1 million. </li>
<li>Tian Ruixiang Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIRX#NASDAQ">TIRX</a>) stock fell 6.85% to $1.77. The market value of their outstanding shares is at $5.7 million. </li>
<li>SHF Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHFS#NASDAQ">SHFS</a>) shares fell 5.31% to $0.36. The market value of their outstanding shares is at $14.8 million. </li>
<li>AG Mortgage IT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MITT#NYSE">MITT</a>) shares declined by 4.94% to $5.2. The market value of their outstanding shares is at $105.2 million. 
See Also: <a href="http://www.benzinga.com/money/best-financial-services-stocks/" title="www.benzinga.com/money/best-financial-services-stocks/">www.benzinga.com/money/best-financial-services-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

FRGE

MITT

NCPL

PacWest Bancorp - Depositary Shares Each Representing a 1/40th Interest in a Share of 7.75% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A

PACWP

SHF Holdings, Inc. - Class A Common Stock

SHFS

TIRX

10 Financials Stocks Moving In Monday's Pre-Market Session

Republic First Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRBK#NASDAQ">FRBK</a>) (the &quot;Company&quot;), the holding company for Republic First Bank d/b/a Republic Bank, announced that, as anticipated, on May 12, 2023, The Nasdaq Stock Market LLC (&quot;Nasdaq&quot;) notified the Company that because the Company&#39;s Form 10-Q for the three months ended March 31, 2023 (the &quot;Form 10-Q&quot;) was not timely filed with the Securities and Exchange Commission (the &quot;SEC&quot;), the Company did not satisfy Nasdaq Listing Rule 5250(c)(1) (the &quot;Filing Requirement&quot;) and that the Nasdaq Hearings Panel (the &quot;Panel&quot;) would consider the additional deficiency in its deliberations regarding the Company&#39;s continued listing. The Company previously presented for the Panel&#39;s review the Company&#39;s plan to file the Form 10-Q with the SEC by June 30, 2023 and thereby evidence full compliance with the Filing Requirement.

<h3>Gainers</h3>
<ul>
<li>Trevena, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trvn#NASDAQ">TRVN</a>) shares surged 170% to $1.74 after the company announced the approval of OLINVYK in China.</li>
<li>Bellicum Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/blcm#NASDAQ">BLCM</a>) jumped 139% to $0.9321. Bellicum Pharmaceuticals 13D filing showed Baker Bros. Advisors reported a 19.99% active stake in the company.</li>
<li>Immuron Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/imrn#NASDAQ">IMRN</a>) climbed 62.9% to $3.0470 after the company announced the FDA removed the clinical hold on the New Campylobacter ETEC Therapeutic IND application.</li>
<li>SMX (Security Matters) Public Limited Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smx#NASDAQ">SMX</a>) climbed 45.1% to $1.93 after jumping around 54% on Friday.</li>
<li>VCI Global Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vcig#NASDAQ">VCIG</a>) gained 37% to $5.37.</li>
<li>EZFill Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ezfl#NASDAQ">EZFL</a>) shares gained 28.8% to $2.86.</li>
<li>Ideanomics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/idex#NASDAQ">IDEX</a>) gained 28% to $0.0546 after the company&rsquo;s subsidiary, US Hybrid, announced two contracts valued at over $6 million.</li>
<li>OKYO Pharma Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/okyo#NASDAQ">OKYO</a>) rose 28% to $2.22.</li>
<li>Imperial Petroleum Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/impp#NASDAQ">IMPP</a>) jumped 27.4% to $3.0606 after posting a profit for the first quarter.</li>
<li>U.S. GoldMining Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/usgo#NASDAQ">USGO</a>) climbed 25.8% to $12.99.</li>
<li>Innodata Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/inod#NASDAQ">INOD</a>) shares climbed 25.3% to $7.72. Innodata is expected to report Q1 results on May 11, 2023.</li>
<li>Crown ElectroKinetics Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crkn#NASDAQ">CRKN</a>) gained 21.8% to $0.1338 after dropping 12% on Friday. Crown Electrokinetics recently issued a letter to shareholders.</li>
<li>Greenland Technologies Holding Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gtec#NASDAQ">GTEC</a>) gained 21.5% to $1.4575 after dropping around 8% on Friday.</li>
<li>fuboTV Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fubo#NYSE">FUBO</a>) rose 20% to $1.76. FuboTV recently reported better-than-expected Q1 financial results and raised FY23 guidance.</li>
<li>Six Flags Entertainment Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/six#NYSE">SIX</a>) gained 20% to $26.97 after the company reported better-than-expected Q1 financial results.</li>
<li>Zscaler, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zs#NASDAQ">ZS</a>) gained 19.8% to $107.21 after the company said it expects to report Q3 revenue above its prior guidance.</li>
<li>Republic First Bancorp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/frbk#NASDAQ">FRBK</a>) surged 18.9% to $0.8323.</li>
<li>Magic Empire Global Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/megl#NASDAQ">MEGL</a>) rose 18.2% to $2.1401 after dropping over 11% on Friday.</li>
<li>Opendoor Technologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/open#NASDAQ">OPEN</a>) gained 16.6% to $2.09. Keefe, Bruyette &amp; Woods maintained Opendoor Technologies with an Underperform and raised the price target from $1.1 to $1.2.</li>
<li>ANI Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/anip#NASDAQ">ANIP</a>) surged 16.2% to $45.49 following upbeat quarterly results.</li>
<li>Napco Security Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nssc#NASDAQ">NSSC</a>) gained 15.2% to $31.55 following strong Q3 results.</li>
<li>Enviva Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eva#NYSE">EVA</a>) gained 12% to $10.14. Enviva recently reported weak Q1 results.</li>
<li>Assure Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ionm#NASDAQ">IONM</a>) surged 11.7% to $2.57. Assure recently filed for an offering of up to 2 million shares of common stock.</li>
<li>Cue Health Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hlth#NASDAQ">HLTH</a>) jumped 11.5% to $0.8697. Cue Health reported an expansion of its Cue Integrated Care Platform to include a new pharmacy offering with over-the-counter and prescription medication options for a growing number of common health and wellness needs.</li>
<li>LSB Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lxu#NYSE">LXU</a>) rose 11.5% to $9.85. LSB Industries announced stock repurchase program authorization of up to $150 million.</li>
<li>Braskem S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bak#NYSE">BAK</a>) shares gained 10.2% to $10.15. Braskem SA shares jumped over 20% on Friday following a report suggesting Apollo will offer up to $7.22B for the company.</li>
<li>HNI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hni#NYSE">HNI</a>) gained 10.1% to $27.77 following strong quarterly results.</li>
<li>Energizer Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/enr#NYSE">ENR</a>) surged 6.3% to $34.79 after the company reported better-than-expected Q2 EPS and issued FY23 EPS guidance with a midpoint above estimates.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Catalent, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ctlt#NYSE">CTLT</a>) shares fell 26.2% to $35.23 after the company announced it will be delaying the release of its Q3 results. The company said it expects to significantly reduce both its FY23 net revenue and adjusted EBITDA guidance by more than $400 million each.</li>
<li>Zapp Electric Vehicles Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zapp#NASDAQ">ZAPP</a>) dropped 24.3% to $3.45.</li>
<li>Aptorum Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apm#NASDAQ">APM</a>) fell 24.3% to $4.05 after gaining 11% on Friday. Aptorum Group received Nasdaq notification of minimum stockholders&rsquo; equity deficiency.</li>
<li>Baosheng Media Group Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/baos#NASDAQ">BAOS</a>) dipped 23.8% to $7.60.</li>
<li>Bit Origin Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btog#NASDAQ">BTOG</a>) dropped 21.5% to $0.1798.</li>
<li>Tupperware Brands Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tup#NASDAQ">TUP</a>) fell 21% to $0.8601. Tupperware filed non-timely 10-Q. The company identified additional prior period misstatements, additional material weaknesses in internal control over financial reporting.</li>
<li>Xinyuan Real Estate Co., Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xin#NYSE">XIN</a>) dropped 18% to $4.1798.</li>
<li>Tyson Foods, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tsn#NYSE">TSN</a>) fell 15% to $51.61 as its second-quarter results missed Street expectations. The company also reduced its FY23 sales outlook.</li>
<li>Tredegar Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tg#NYSE">TG</a>) dropped 14.6% to $8.04 after the company posted a decline in quarterly EPS.</li>
<li>LL Flooring Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ll#NYSE">LL</a>) fell 14.5% to $3.0350 after the company reported weaker-than-expected quarterly results.</li>
<li>Lyell Immunopharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lyel#NASDAQ">LYEL</a>) dipped 12.7% to $2.1650.</li>
<li>Trupanion, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trup#NASDAQ">TRUP</a>) dropped 12.4% to $25.30. B of A Securities downgraded Trupanion from Buy to Neutral and lowered the price target from $72 to $32.</li>
<li>Bit Digital, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btbt#NASDAQ">BTBT</a>) shares dropped 12.3% to $2.07. Bit Digital recently issued its unaudited bitcoin production and corporate updates for the month of April 2023.</li>
<li>Dunxin Financial Holdings Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dxf#NYSE">DXF</a>) fell 12.2% to $0.23.</li>
<li>Nanobiotix S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nbtx#NASDAQ">NBTX</a>) dipped 11.8% to $5.89.</li>
<li>Save Foods, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/svfd#NASDAQ">SVFD</a>) fell 11.7% to $1.06 after surging 53% on Friday.</li>
<li>Tenaya Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tnya#NASDAQ">TNYA</a>) dropped 11.3% to $6.03.</li>
<li>Riot Platforms, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/riot#NASDAQ">RIOT</a>) declined 11.3% to $10.23. Shares of several crypto-related stocks traded lower Monday amid a decline in the overall cryptocurrency market, led by Bitcoin.</li>
<li>MDJM Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdjh#NASDAQ">MDJH</a>) fell 10% to $2.35 after declining 5% on Friday.</li>
<li>Baijiayun Group Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rtc#NASDAQ">RTC</a>) dropped 9.9% to $6.52.</li>
<li>Galmed Pharmaceuticals Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/glmd#NASDAQ">GLMD</a>) fell 9.1% to $0.3710 after jumping over 37% on Friday. Galmed Pharmaceuticals recently entered into agreement for $1.5m equity investment in OnKai.</li>
<li>NantHealth, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nh#NASDAQ">NH</a>) fell 9% to $2.91 after jumping 33% on Friday.</li>
<li>Marathon Digital Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mara#NASDAQ">MARA</a>) fell 9% to $9.55. Shares of several crypto-related stocks traded lower Monday amid a decline in the overall cryptocurrency market, led by Bitcoin.</li>
<li>Green Dot Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gdot#NYSE">GDOT</a>) dropped 8.2% to $17.26. Needham downgraded Green Dot from Buy to Hold.</li>
<li>Minim, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/minm#NASDAQ">MINM</a>) fell 7.6% to $4.24 after jumping 61% on Friday.</li>
<li>CleanSpark, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clsk#NASDAQ">CLSK</a>) shares fell 6.1% to $3.9431 amid a decline in the prices of Bitcoin and Ethereum.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/23/05/32265745/us-stocks-edge-lower-tyson-foods-posts-q2-loss"> US Stocks Edge Lower; Tyson Foods Posts Q2 Loss</a>

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Why Tredegar Shares Are Trading Lower By 15%? Here Are Other Stocks Moving In Monday's Mid-Day Session

&nbsp;Republic First Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRBK#NASDAQ">FRBK</a>) (the &quot;Company&quot; or &quot;Republic First&quot;), the holding company for Republic First Bank d/b/a Republic Bank, today announced actions that it has taken in furtherance of management&#39;s strategy to better serve customers, focus resources on core business lines and markets, increase profitability and create value for shareholders. 
&nbsp;
Exit of Mortgage Origination Business
<ul>
<li>Republic Bank will exit its legacy mortgage origination business. The Bank will continue to support local communities through various Community Reinvestment Act initiatives driven through its core business lines. Historically, this platform&#39;s primary offering was a long-term jumbo mortgage product, priced at aggressive rates, which no longer aligns with the Company&#39;s preference for shorter duration and better risk adjusted return asset classes. Further, the high-cost nature of a jumbo mortgage origination platform is no longer consistent with the Company&#39;s strategy for enhancing profitability and dedicating more resources to core business lines. 
	&nbsp;</li>
</ul>
Streamlining NYC Commercial Lending Business
<ul>
<li>The Company will streamline its commercial lending business in New York City and has made commensurate reductions in force in its New York Lending and Credit teams. This action will allow Republic Bank to focus on its strong commercial relationships in and around the Bank&#39;s core Philadelphia Metropolitan area market, serving clients domiciled here who have businesses inside and outside the region. 
	&nbsp;</li>
</ul>
Thomas X. Geisel, President and CEO of Republic First Bancorp, Inc., stated:
&quot;When I became CEO, I articulated a clear strategy to focus on our core business lines in our core markets. In our recent&nbsp;first quarter&nbsp;2023 earnings report, we noted that we would be executing meaningful business realignment and efficiency initiatives to grow profitability, allow us to better serve our customers and create value for shareholders and all stakeholders. Today&#39;s updates represent important steps in that direction.
While these were difficult decisions &ndash; especially because of the inherent reduction in force required &ndash; we strongly believe they are in the best interests of the Company and will allow us to build a strong foundation for the future. I would like to extend a sincere word of gratitude to our dedicated employees who will continue to drive our success.
I am excited about our opportunities that lay ahead to build an even stronger Republic Bank. We are committed to updating the market and our shareholders on an ongoing basis on business developments as we take decisive actions to execute our strategy.&quot;

Republic First Bancorp, Inc. Announces Business Updates To Advance Strategy Of Focusing On Core Services and Markets

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Shares of banks and financial services companies are trading lower following the recent failure of First Republic, which has cause uncertainty in the sector and has pressured regional banking names.

Republic First Bancorp shares are trading lower after the company reported worse-than-expected Q4 EPS results.

Republic First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRBK#NASDAQ">FRBK</a>) reported quarterly losses of $(0.15) per share which missed the analyst consensus estimate of $0.09 by 266.67 percent. This is a 287.5 percent decrease over earnings of $0.08 per share from the same period last year.

Republic First Bancorp Q4 EPS $(0.15) Misses $0.09 Estimate

Republic First Bancorp (FRBK) has released an update. Republic First Bancorp, Inc. filed a preliminary proxy statement for a special shareholder me...

Republic First Bancorp Schedules Special Shareholder Meeting

Warning: FRBK is at high risk of performing badly

Republic First Bancorp (FRBK) has shared an announcement. Republic First Bancorp, Inc. has announced the termination of a Securities Purchase Agree...

Republic First Bancorp: Strategic Focus Despite Deal Termination

FDIC said to be in talks with potential buyers for Republic First Bancorp

Republic First Bank seized by Pennsylvania regulators; sold to Fulton Bank

Republic First Bancorp (FRBK) has shared an announcement. On April 26, 2024, Republic First Bank was shut down by the Pennsylvania Department of Ba...

Republic First Bancorp Faces Restructuring After Bank Shutdown

3 Predictions For Summer

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