Market Volatility Continues with Big Moves in Novartis, First Republic, 3M and More

First Republic Bank's stock plunged after reporting a 40% drop in deposits during Q1, while UPS shares fell after missing analyst expectations. 3M's stock rose after reporting higher-than-expected earnings and announcing job cuts to focus on high-growth markets. McDonald's beat Wall Street expectations for Q1, while General Motors raised its guidance for 2023 and reported earnings that beat forecasts. JetBlue forecasted a "solidly profitable" Q2 due to strong travel demand, while Packaging Corp of America's stock fell after missing earnings forecasts. Novartis raised its full-year earnings outlook and PepsiCo reported earnings and revenue that topped expectations.