Stocks making the biggest moves midday: First Republic Bank, Moderna, Newmont, Illumina and more

Check retired the companies making the biggest moves midday:

Regional banks —Shares of regional banks plummeted pursuing the illness of Silicon Valley Bank and Signature Bank. First Republic Bank sank 64%, and Western Alliance Bancorp dropped astir 57%. PacWest Bancorp shed 26%. KeyCorp fell astir 30%, and Zions Bancorporation mislaid astir 24%.

Citi, Bank of America, Goldman Sachs — Shares of large banks besides saw losses aft the closure of the Silicon Valley Bank and Signature Bank. Citi dropped 6%. Bank of America shed 3%, and Goldman Sachs mislaid astir 2%.

Charles Schwab — The banal sank 10% arsenic portion of the broader rout successful the banking sector. However, Schwab reassured shareholders and customers that it isn't seeing immoderate important outflows and that 80% of its full deposits autumn wrong the FDIC security limits. Citi besides upgraded the banal to bargain from neutral, saying the stock's caller diminution gives it a "compelling" risk-reward ratio.

Illumina — Shares soared by much than 20% aft The Wall Street Journal reported Sunday that billionaire activistic Carl Icahn is preparing a proxy fight astatine the biotech company. He is arguing that the company's acquisition of Grail outgo its shareholders astir $50 billion.

Moderna — The biotechnology company's shares gained astir 6% aft TD Cowen upgraded the banal to outperform from marketplace perform. The Wall Street steadfast said Moderna volition beryllium a person successful the RSV vaccine market.

Newmont — Shares of the golden miner rallied 5% pursuing a spike successful golden prices. Spot golden passed the cardinal level of $1,900 arsenic investors stake the Federal Reserve whitethorn code down complaint hikes connected the heels of Silicon Valley Bank's collapse.

Eli Lilly — Shares of the cause shaper roseate astir 2.5% aft Wells Fargo upgraded the shares to overweight, calling caller weakness a buying accidental for investors. The firm's expert said the institution has a bully probe and improvement motor and an lack of near- to medium-term nonaccomplishment of exclusivity. Wells Fargo besides said Eli Lilly isn't babelike connected M&A enactment for growth

Seagen — Shares surged astir 16% connected quality that Pfizer is acquiring the crab cause maker arsenic it looks past its Covid income portfolio. Pfizer's banal roseate astir 1.5% connected the news.

Etsy —The banal mislaid 1%. Over the weekend, NBC News reported that the e-commerce institution warned sellers that the illness of Silicon Valley Bank is causing delays successful processing payments. The institution said it expects to begin processing the payments arsenic soon arsenic Monday and said the hold volition not person a worldly interaction connected its quarter.

Provention Bio — Shares surged 258% aft Sanofi agreed to acquire Provention Bio for $2.9 billion for its type-1 diabetes treatment, among different immune-mediated illness treatments.

Qualtrics International — Shares of the information analytics steadfast jumped 6.6% connected reports that U.S. backstage equity radical Silver Lake agreed to bargain the company for $12.5 billion, oregon $18.15 per share, alongside Canada's largest pension fund. As portion of the acquisition, software radical SAP said Monday it volition merchantability its involvement successful Qualtrics for $7.7 billion.

Insulet — The banal gained 8.5% aft quality that Insulet volition regenerate SVB Financial Group successful the S&P 500 index. SIVB volition beryllium removed from the wide marketplace scale aft the adjacent connected Tuesday.

— CNBC's Samantha Subin, Hakyung Kim, Pia Singh and Tanaya Macheel contributed reporting.