People are seen inside the First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike SegarMike Segar | ReutersCheck out the companies making the biggest moves midday:Regional banks —Shares of regional banks plummeted following the collapse of Silicon Valley Bank and Signature Bank. First Republic Bank sank 64%, and Western Alliance Bancorp dropped about 57%. PacWest Bancorp shed 26%. KeyCorp fell nearly 30%, and Zions Bancorporation lost about 24%.Citi, Bank of America, Goldman Sachs — Shares of major banks also saw losses after the closure of the Silicon Valley Bank and Signature Bank. Citi dropped 6%. Bank of America shed 3%, and Goldman Sachs lost about 2%.Charles Schwab — The stock sank 10% as part of the broader rout in the banking sector. However, Schwab reassured shareholders and customers that it isn’t seeing any significant outflows and that 80% of its total deposits fall within the FDIC insurance limits. Citi also upgraded the stock to buy from neutral, saying the stock’s recent decline gives it a “compelling” risk-reward ratio.Illumina — Shares soared by more than 20% after The Wall Street Journal reported Sunday that billionaire activist Carl Icahn is preparing a proxy fight at the biotech company. He is arguing that the company’s acquisition of Grail cost its shareholders about $50 billion.Moderna — The biotechnology company’s shares gained nearly 6% after TD Cowen upgraded the stock to outperform from market perform. The Wall Street firm said Mod …
