This banking stock topped the Huntsville and Alabama Stock Report

This banking stock topped the Huntsville and Alabama Stock Report

Tuesday was a mix of minor gains and minor declines on our Huntsville and Alabama Stock Report, with one major outlier on the positive side.

PNC was the winner of the day, gaining 5.8%. Pittsburgh-based PNC Financial Services Group, Inc., has 105 branches across Alabama, including seven in Huntsville, 17 in the city of Birmingham and 12 in Mobile.

Meanwhile, WestRock picked up 2.8% on news of its alliance with Smurfit Kappa. The two announced they are combining to create a global packaging company with a value of almost $20 billion. Smurfit Kappa has a stronghold in Europe with its corrugated and containerboard offerings, while WestRock is dominant in the U.S. with its corrugated and consumer packaging and has a footprint in Brazil and Mexico as well.

WestRock has eight sites across the state, including Huntsville, Athens, Stevenson and Cullman in north Alabama to Eutaw, Lanett, Demopolis and Montgomery in central Alabama.

Overall, a slide for technology stocks weighed on Wall Street on Tuesday as the market prepped for a highly anticipated report on inflation due Wednesday.

The S&P 500 lost 25.56 points, or 0.6%, to 4,461.90. The Dow Jones Industrial Average slipped 17.73, or 0.1%, to 34,645.99, and the Nasdaq composite dropped 144.28, or 1%, to 13,773.61.