Crude Oil Rises Sharply; Unifirst Earnings Miss Expectations
Portfolio Pulse from Lisa Levin
U.S. stocks traded mixed with the Dow Jones dropping around 100 points and NASDAQ rising 0.23%. Unifirst Corporation reported worse-than-expected Q3 earnings and issued FY23 EPS guidance below estimates. Energy shares jumped by 1% while utilities shares fell by 1.4%. Kaleyra, Minerva Neurosciences, and Joby Aviation saw their shares rise significantly. AST SpaceMobile, Sonnet BioTherapeutics, and Cognition Therapeutics saw their shares drop. Oil traded up 2.8% while gold traded down 0.1%.
June 28, 2023 | 6:39 pm
News sentiment analysis
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POSITIVE IMPACT
Joby Aviation shares were up, gaining 41% after the company announced it received a permit that allows the company to begin flight testing of its first production prototype.
Joby Aviation's announcement of receiving a permit for flight testing of its first production prototype has led to a significant increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Shares of Kaleyra shot up 39% after Tata Communications Limited announced it has entered an agreement to acquire the company.
The announcement of Kaleyra's acquisition by Tata Communications Limited has led to a significant increase in the company's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Shares of Minerva Neurosciences got a boost, shooting 61% to $9.68. Minerva Neurosciences announced $20 million in private placement priced at a premium to market.
Minerva Neurosciences' announcement of a $20 million private placement priced at a premium to market has led to a significant increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
AST SpaceMobile shares dropped 26% after the company announced pricing of an upsized offering of Class A common stock.
AST SpaceMobile's announcement of the pricing of an upsized offering of Class A common stock has led to a significant decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Cognition Therapeutics was down, falling 20% after the company released topline data from Phase 2 SEQUEL Study Of CT1812 in 16 adults with mild-to-moderate Alzheimer's disease.
Cognition Therapeutics' release of topline data from its Phase 2 SEQUEL Study has led to a significant decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shares of Sonnet BioTherapeutics were down 21% after announcing $2.25 million registered direct offering of 5 million at $0.45/share.
Sonnet BioTherapeutics' announcement of a $2.25 million registered direct offering has led to a significant decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Unifirst Corporation reported worse-than-expected Q3 earnings and issued FY23 EPS guidance below estimates.
Unifirst Corporation's worse-than-expected Q3 earnings and lower FY23 EPS guidance could negatively impact investor sentiment and potentially lead to a decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100