Crude Oil Rises; Adobe Posts Upbeat Results
Portfolio Pulse from Lisa Levin
U.S. stocks traded slightly higher with Dow Jones gaining around 20 points on Friday. Adobe Inc. reported better-than-expected Q2 results and issued a strong earnings forecast. Crude oil rose, and gold traded down. European and Asian markets also closed higher.

June 16, 2023 | 4:00 pm
News sentiment analysis
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POSITIVE IMPACT
Adobe Inc. reported better-than-expected Q2 results and issued a strong earnings forecast, with revenue increasing 10% YoY to $4.82 billion.
Adobe's better-than-expected Q2 results and strong earnings forecast indicate a positive outlook for the company, which is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Evelo Biosciences shares gained 198% after the company won a U.S. Patent for prebiotic compositions and methods of use thereof for modulation of the microbiome.
Evelo Biosciences' winning of a U.S. Patent for its prebiotic compositions has significantly boosted investor confidence in the company, leading to a 198% increase in its share price. This positive sentiment is likely to continue in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
iRobot Corporation shares shot up 19% after UK's Competition and Markets Authority cleared its acquisition deal with Amazon.
The clearance of iRobot's acquisition deal with Amazon by the UK's Competition and Markets Authority has boosted investor confidence in the company, leading to a 19% increase in its share price. This positive sentiment is likely to continue in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Virgin Galactic shares shot up 30% after the company announced its first commercial spaceflight is planned to fly between June 27 and June 30, and the second will follow in early August.
The announcement of Virgin Galactic's first commercial spaceflight and the subsequent one in early August has generated excitement among investors, leading to a 30% increase in the company's share price. This positive sentiment is likely to continue in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Coherus BioSciences shares were down 18% after the company agreed to acquire Surface Oncology Inc, a clinical-stage immuno-oncology company.
Coherus BioSciences' agreement to acquire Surface Oncology Inc has led to an 18% drop in its share price, as investors may be concerned about the financial implications of the acquisition. This negative sentiment is likely to continue in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Clene Inc. shares fell 15% after the company announced pricing of a $40 million public offering.
Clene Inc.'s announcement of a $40 million public offering has led to a 15% drop in its share price, as investors may be concerned about dilution of existing shares. This negative sentiment is likely to continue in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Panbela Therapeutics shares dropped 53% after the company announced pricing of an approximately $8.5 million public offering.
Panbela Therapeutics' announcement of an $8.5 million public offering has led to a 53% drop in its share price, as investors may be concerned about dilution of existing shares. This negative sentiment is likely to continue in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100