Dow Tumbles Over 200 Points; Chicago PMI Drops In May
Portfolio Pulse from Lisa Levin
US stocks traded lower with the Dow Jones dropping over 200 points, NASDAQ falling 0.45%, and S&P 500 dropping 0.65%. Chicago PMI declined to 40.4 points in May. Loop Media and Tremor International gained, while financial shares fell 1.5%. SunCar Technology, CXApp, and LL Flooring shares rose, while Belite Bio, Advance Auto Parts, and Sportsman's Warehouse shares dropped.
May 31, 2023 | 2:28 pm
News sentiment analysis
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POSITIVE IMPACT
CXApp shares gained 21% to $13.50.
CXApp shares gained 21% without any specific news, indicating positive investor sentiment and a potential short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
LL Flooring shares gained 19% after confirming the receipt of a $5.76 per share unsolicited, non-binding proposal from Cabinets To Go.
LL Flooring confirmed the receipt of a $5.76 per share unsolicited, non-binding proposal from Cabinets To Go, which positively impacts investor sentiment and leads to an increase in the stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Loop Media shares rose by 10%.
Loop Media shares rose by 10% without any specific news, indicating positive investor sentiment and a potential short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
SunCar Technology shares shot up 50% to $29.04.
SunCar Technology shares shot up 50% without any specific news, indicating positive investor sentiment and a potential short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tremor International shares gained 4%.
Tremor International shares gained 4% without any specific news, indicating positive investor sentiment and a potential short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Advance Auto Parts shares dropped 32% after reporting worse-than-expected Q1 financial results and cutting FY23 guidance below estimates.
Advance Auto Parts reported worse-than-expected Q1 financial results and cut its FY23 guidance below estimates, which negatively impacts investor sentiment and leads to a drop in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Belite Bio shares dropped 36% after announcing the pricing of a $30 million underwritten public offering of ADSs and warrants.
Belite Bio announced the pricing of a $30 million underwritten public offering of ADSs and warrants, which dilutes existing shareholders' ownership and leads to a drop in the stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Sportsman's Warehouse shares fell 16% after posting a wider-than-expected Q1 loss and issuing a weak forecast for the current quarter.
Sportsman's Warehouse posted a wider-than-expected Q1 loss and issued a weak forecast for the current quarter, which negatively impacts investor sentiment and leads to a drop in the stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100