- Rev $12.4B (est $11.52B)

- EPS $0.79 (est $0.55)

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Stocks in Europe rallied and US equity futures pointed to a stronger open for Wall Street as regulators’ assurances on the banking industry helped restore investor confidence.

S&P 500 futures climbed as much as 0.8%, putting the underlying index on track to extend Monday’s gains. 

Tesla - Rose 2% after Moody’s assigned it a Baa3 rating and removed its junk-rated credit. Moody’s said the upgrade reflects Tesla’s prudent financial policy and management’s operational track record.

First Republic - Jumped nearly 19% in premarket trading, following a 90% plunge so far this month as investors focused on its large amount of uninsured deposits. On Monday, CNBC’s David Faber reported JPMorgan Chase is giving advice on alternatives for First Republic.

New York Community Bancorp - Popped 7%, a day after surging 31.65%. The Federal Deposit Insurance Corporation has said New York Community Bancorp’s subsidiary, Flagstar Bank, will assume nearly all of Signature Bank’s deposits and some of its loan portfolios, as well as all 40 of its former branches.

Regional banks - Regional banks were also higher on the heels of First Republic’s rise and as investors continued to digest the likelihood of expanded federal insurance. PacWest rallied 8.3%, Fifth Third Bancorp rose 3.4% and KeyCorp gained 3.3%.

UBS - US-listed shares of the Swiss-based bank were up 4%, a day after gaining 3.3% following its agreement to buy Credit Suisse for $3.2 billion. Credit Suisse was essentially flat in the premarket, after plummeting 52.99% on Monday.

Meta Platforms - Shares climbed nearly 3% in premarket trading after Morgan Stanley upgraded Meta and said it has about 25% potential upside thanks to its Reels strategy and efficiency plans. The upgrade comes a week after Meta announced plans to layoff another 10,000 employees.

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• ECB’s De Cos: Spanish Banks Are Resilient, Have Solid Capital And Liquidity
• German Investor Morale Falls More Than Expected In March - ZEW
• Switzerland's Secretive Credit Suisse Rescue Rocks Global Finance
• UK Public Borrowing Rises On Energy Support Schemes
• Japan Leader Kishida To Visit Ukraine For Talks With Zelenskiy
• Treasury Yields Climb As Bank Stock Concerns Ease
• Dollar Pauses, Sterling Drops Ahead Of Fed, BoE
• Oil Rises As Banking Fears Ease For Now
• Stock futures Rise As Wall Street Tries To Build On Monday’s Rally
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