After-hours movers: First Republic resumes free-fall despite lifeline, FedEx surges on raised guidance

After-Hours Stock Movers:

First Republic Bank (NYSE:) 25% LOWER; falls despite getting a $30 billion lifeline from the nation’s largest banks today. Shares rose 10% intra-day.

Sarepta Therapeutics, Inc. (NASDAQ:) 20% LOWER; announced that at its late cycle meeting for the SRP-9001 (delandistrogene moxeparvovec) biologics license application (BLA), the U.S. Food and Drug Administrations Office of Therapeutics (OTP) has determined that an advisory committee meeting will be held for SRP-9001 in advance of the May 29, 2023 regulatory action date. SRP-9001 is Sareptas investigational gene therapy for the treatment of Duchenne muscular dystrophy.

FedEx (NYSE:) 11% HIGHER; Q3 EPS of $3.41, $0.65 better than the analyst estimate of $2.76. Revenue for the quarter came in at $22.2 billion versus the consensus estimate of $22.74 billion. FedEx sees Q4 2023 EPS of $14.60-$15.20, versus the consensus of $13.56.

United Parcel Service Inc (NYSE:) 3% HIGHER; gains following strong results from rival FedEx.

NVIDIA Corporation (NASDAQ:) 1% HIGHER; upgraded after-hours at Morgan Stanley.