Nasdaq Rises 70 Points; ISM Services PMI Drops In May
Portfolio Pulse from Lisa Levin
U.S. stocks traded mixed with Nasdaq Composite gaining around 70 points on Monday. ISM Services PMI dropped to 50.3 in May from 51.9 in April. Communication services shares jumped by 1.3%, while industrials shares fell by 0.5%. Oil traded up 1.5% to $72.81, and gold traded up 0.4% at $1,976.50.
June 05, 2023 | 4:22 pm
News sentiment analysis
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POSITIVE IMPACT
CIRCOR International shares gained 51% after announcing an agreement to be acquired by KKR for $49 per share in cash.
CIRCOR International's stock price is likely to go up in the short term due to the positive news of its acquisition agreement with KKR at $49 per share in cash.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Forza X1 shares shot up 138% after the company tweeted about an upcoming extraordinary announcement.
Forza X1's stock price is likely to go up in the short term due to the positive sentiment generated by the company's tweet about an upcoming extraordinary announcement.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Getty Images Holdings shares jumped 23% with communication services shares gaining 1.3% on Monday.
Getty Images Holdings' stock price is likely to go up in the short term due to the positive performance of communication services shares, which gained 1.3% on Monday.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Timber Pharmaceuticals shares gained 43% following a positive decision from the FDA for its TMB-001 treatment.
Timber Pharmaceuticals' stock price is likely to go up in the short term due to the positive news of the FDA's decision for its TMB-001 treatment.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Travelzoo shares gained 8% with communication services shares jumping 1.3% on Monday.
Travelzoo's stock price is likely to go up in the short term due to the positive performance of communication services shares, which jumped 1.3% on Monday.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Bellerophon Therapeutics shares dropped 86% after its Phase 3 REBUILD trial failed to meet its primary endpoint.
Bellerophon Therapeutics' stock price is likely to go down in the short term due to the negative results of its Phase 3 REBUILD trial, which failed to meet its primary endpoint.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Castle Biosciences shares fell 47% after Baird, SVB Securities, and Lake Street lowered their price targets on the stock.
Castle Biosciences' stock price is likely to go down in the short term due to the negative impact of lowered price targets by Baird, SVB Securities, and Lake Street.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Mallinckrodt shares dropped 40% as the company reportedly considers options, including filing for bankruptcy again, due to a $200 million opioid settlement payment.
Mallinckrodt's stock price is likely to go down in the short term due to the negative news of the company considering options, including filing for bankruptcy again, as it faces a $200 million opioid settlement payment.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100