Stocks making the biggest midday moves: Coinbase, First Citizens, Roku and more

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Check out the companies making the biggest moves midday:

Coinbase Global — Shares of the cryptocurrency exchange tumbled nearly 10% in midday trading, along with Bitcoin and ether, after the Commodity Futures and Trading Commission filed a complaint against crypto exchange operator Binance. The CFTC alleges the exchange actively solicited U.S. users and subverted the exchanges own «ineffective compliance program.» The suit called both bitcoin and ether «commodities.»

First Citizens BancShares — The Raleigh, NC-based bank soared 50% after agreeing to buy Silicon Valley Bank's deposits and loans. The deal includes about $72 billion of SVB assets at a discount of $16.5 billion.

First Republic, PacWest — Regional bank stocks moved higher on Monday after reports that the government was considering further support and that deposit outflows had slowed. Shares of First Republic jumped by 16%, while PacWest Bancorp rose about 4% and Western Alliance gained nearly 8%.

Roku — Shares of the media platform jumped more than 4% after Susquehanna upgraded it to positive from neutral. The Wall Street firm said it continues to see Roku as «a prime beneficiary of the secular shift of linear budgets.»

Frontier Communications — Shares of the telecommunications company slid about 9% after Morgan Stanley downgraded the stock to underweight. The firm noted that Frontier is changing hands at a significant premium compared to peers, including AT&T and Verizon. The stock had been faring better than the broader field of hardwire telecoms firms, but Monday's slide pushed the stock down roughly 16% from the start of the year.

Carnival — The cruise operator shed 3.3% despite beating earnings expectations for its first quarter.