Stocks on the move: AMC and APE stocks move in opposite directions, while Etsy benefits from upgrade

For more: Teenagers name Etsy a favorite site and analyst promptly upgrades stock to buy

Cardlytics Inc. shares 
CDLX,
+74.93%
 rallied more than 30% after the digital-advertising company boosted its quarterly forecast. Cardlytics now expects $63.5 million to $66.5 million in revenue for the first quarter, whereas its prior outlook was for $54.0 million to $63.0 million.

ServiceNow Inc.’s stock
NOW,
+2.56%
jumped 3.3% after Baird’s Rob Oliver updated the software stock to outperform and said “durable and resilient” growth potential positions the company well for the current climate, according to an analyst.

Stock decliners:

First Republic Bank’s stock
FRC,
-4.90%
fell 6.4%, after JP Morgan Chase
JPM,
-1.49%
CEO Jamie Dimon said the recent blowups of Silicon Valley Bank and Signature Bank have sparked a banking crisis that is not yet over. Dimon used his annual letter to shareholders to point out that the current challenges facing the banking system are not as bad as they were in 2008. Zions Bancorp.
ZION,
-4.76%
was down 5%.

AMC Entertainment Holdings Inc. 
AMC,
-23.06%
stock fell 21% after the movie-theater operator said Monday that it has agreed to settle a shareholder lawsuit over a stock conversion. The settlement paves the way for AMC to convert its AMC Preferred Equity
APE,
+13.18%
units into shares of common stock, proceed with a 10-to-1 reverse stock split and raise capital. APE shares are up 20%.

Shares of Virgin Orbit Holdings Inc.
VORB,
-27.06%
plunged 21% after the rocket launch provider filed for chapter 11 bankruptcy protection and said it would seek a sale. The company, majority owned by Richard Branson’s Virgin Group, said it would lay off most of its staff last week amid an inability to get funding following a failed launch in January. Shares of spaceflight group Virgin Galactic Holdings Inc.
SPCE,
-10.44%
fell 10%.

Stratasys Ltd.’s stock
SSYS,
-2.56%
fell 3.3% after it said it has received an updated unsolicited non-binding takeover offer from Nano Dimension Ltd.
NNDM,
+0.52%
 to acquire the shares of Stratasys that it doesn’t already own for $20.05 apiece in cash. The company on Monday said that its board unanimously rejected Nano Dimension’s prior unsolicited takeout offer, which was for $19.55 a share in cash and made last week.

Microcap VBI Vaccines Inc. shares tumbled 45.8%, after it said it’s planning to focus its efforts on hepatitis B, as part of a reorganization that will see it cut operating costs and headcount by 30% to 35% and conduct a reverse stock split. Cambridge, Mass.-based VBI said it would effect a 1-for-30 reverse stock split that will see it trade on a split-adjusted basis on April 12.