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The Latest Breaking News from PacWest

Stocks Higher, Jobs Report On Deck, Apple Earnings Beat, Warner Bros Earnings, Fed Bank Lending - Five Things To Know

Stock futures higher as Apple, bank stocks lift sentiment; April jobs report in focus amid 'data dependent' Fed; Apple shares jump as iPhone sales power Q2 earnings beat; Warner Bros Discovery earnings on deck after Paramount plunge and Banks trim borrowing from Fed, Pacwest, Western Alliance rebound.

The Street

Hong Kong rises as Europe, US attempt rebounds

Hong Kong (AFP) - Hong Kong stocks finished higher on Friday as major markets elsewhere attempted a rebound following a day of losses driven by interest rate hikes and a banking sector sell-off.

AFP

Asian stocks mixed after slide on Wall Street

Hong Kong (AFP) - Asian stocks were mixed on Friday following a slide on Wall Street driven by renewed fears of banking sector turmoil.

AFP

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Dow Jones Futures Rise On Apple, PacWest. But Here Comes The Jobs Report.

Apple rose on earnings while PacWest and Western Alliance tried to lead a regional bank bounce. The jobs report looms.

Investors Business Daily

US regional banks tumble as Europe digests another ECB rate hike

New York (AFP) - US regional banks endured another torrid day in the financial markets Thursday, after European stocks slid as traders digested a further interest rate hike from the European Central Bank.

AFP

Shares of smaller lenders sink once again, reviving fears about the banking sector

PacWest and Western Alliance were among the smaller lenders that saw shares tumble even as the banks sought to reassure their customers and investors..

WEKU

US regional banks sink again as reassurances fall flat

New York (AFP) - Shares of PacWest Bancorp were in free fall Thursday after the lender's attempt to reassure investors fell flat amid another pummeling of US regional bank stocks.

AFP

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Stock Market Limps Near Lows Ahead Of Apple Earnings; Shopify Stock Gains Over 23%

Shopify stock gained 23% after a positive Q1 earnings report.

Investors Business Daily

Odeon Analyst Bove: Government Will Suspend Shorting of Bank Stocks

Western Alliance and PacWest shares are plunging in Thursday, May 4, trading.

The Street

US banks are failing, and the authorities seem unlikely to intervene

Regional lenders such as PacWest and Western Alliance are not seen as systemically important and more consolidation is ahead

The Guardian - UK

PacWest latest target as US regional bank shares dive again

New York (AFP) - Shares of PacWest Bancorp were in free fall Thursday after the bank's attempt to reassure investors fell flat amid another pummeling of US regional bank stocks.

AFP

Stocks slide on rate hikes, bank worries

London (AFP) - European and US stocks slid Thursday after the ECB and the Fed again hiked interest rates to fight elevated inflation, as worries about banks and recession continued to cloud sentiment.

AFP

The regional banking crisis is expanding

Reports have both PacWest and Western Alliance seeking buyers.

Axios

Stocks slide after Fed, ECB deliver rate hikes

London (AFP) - European and US stocks slid Thursday after the ECB and the Fed again hiked interest rates to fight elevated inflation, while hinting the next move could be a pause.

AFP

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The Independent UK

Anxiety knocks regional banks, shares slump

Anxiety about a rush of withdrawals by customers of regional banks continues to roil the financial sector as PacWest Bancorp attempted to calm investors investors overnight with its shares plunged 45%

Investors Business Daily

Dow Jones Slides 325 Points After Jobless Claims; PacWest Crashes 49% On Possible Sale; Apple Earnings Due

The Dow Jones dropped 325 points Thursday on rising weekly jobless claims. Regional bank PacWest shares crashed 49% on a possible sale.

Investors Business Daily

PacWest Bancorp Explores Options. Western Alliance Denies Deal Rumors. Gensler Issues Statement.

PacWest Bancorp sparked more panic among regional banks on reports it's exploring strategic options, including a potential sale. Bank stocks dive.

AFP

European stocks slide after Fed, before ECB rate calls

London (AFP) - European stock markets slid Thursday after the Federal Reserve again hiked US interest rates to fight elevated inflation, while hinting the next move could be a pause.

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The Street

Will PacWest Be the Next U.S Bank to Collapse?

Four U.S. regional banks failed in March and April. Stocks of smaller banks continue to sell off, a sign that the banking crisis is not over despite regulators' efforts.

The Street

Troubled Bank PacWest Crashes

Four days after the failure of First Republic Bank, pressure is mounting on PacWest, which is trying to reassure investors as best it can.

The Street

PacWest Plunges To Record Low As Lender Weighs Strategic Options; Western Alliance Slams FT Report

"The bank has not experienced out-of-the-ordinary deposit flows following the sale of First Republic Bank and other news," PacWest said.

The Guardian - UK

Trading halted in shares of two more US lenders as fears of banking crisis mount

Regulators step in after PacWest and Western Alliance shares plunge as investors fear repeat of First Republic, SVB and Signature failures

The Street

Stocks Lower After Fed Hike, Apple Earnings On Deck, Qualcomm Slides, PacWest Plunges, Etsy Jumps - 5 Things To Know

Stock futures slip amid hints from Fed on rate cycle, more bank woes; Apple earnings on deck with iPhone demand depth in focus; Qualcomm slumps as muted outlook clouds Q2 revenue beat; PacWest plunges as bank confirms its weighing strategic options and Etsy jumps after solid Q1 earnings, robust sales…

AFP

Asian markets rise after shrugging off US rate hike

Hong Kong (AFP) - Asian markets rose on Thursday, shrugging off the sour mood surrounding the Federal Reserve's announcement that it was raising interest rates yet again and likely keeping them high for the foreseeable future.

The Street

Banking Crisis: PacWest May Sell Itself

Four days after the failure of First Republic Bank, pressure is mounting on PacWest, which is trying to reassure investors as best it can.

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