Steelcase, Commercial Metals And Other Big Stocks Moving Higher On Thursday
Portfolio Pulse from Lisa Levin
U.S. stocks traded mixed on Thursday, with some big stocks recording gains. Locafy surged 89.7% after announcing an agreement with a U.S. media publisher, Root shares surged 40% following a takeover bid report, and Steelcase climbed 6.5% after reporting better-than-expected earnings.
June 22, 2023 | 2:58 pm
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POSITIVE IMPACT
Locafy shares surged 89.7% after announcing an agreement with a U.S. media publisher to utilize 'Entity-Based' Keystone SEO technology.
The agreement with a U.S. media publisher to utilize 'Entity-Based' Keystone SEO technology is a significant development for Locafy, which could lead to increased revenue and growth. This positive news is likely to drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Root shares surged 40% following a Wall Street Journal report suggesting the company has received a takeover bid.
A takeover bid typically results in a premium being offered for the target company's shares, which can drive the stock price up. The Wall Street Journal report suggests that Root has received such a bid, which is likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Steelcase shares climbed 6.5% as the company reported better-than-expected earnings for its first quarter.
Better-than-expected earnings are generally seen as a positive sign for a company's financial health and can lead to increased investor confidence. As a result, Steelcase's stock price is likely to rise in the short term due to the strong earnings report.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100