Crude Oil Edges Higher; McCormick Posts Upbeat Earnings
Portfolio Pulse from Lisa Levin
U.S. stocks traded higher with the Dow Jones gaining more than 200 points. McCormick & Co Inc reported better-than-expected earnings for its second quarter. Sigilon Therapeutics shares shot up 516% after Eli Lilly agreed to acquire the company. Shares of Eco Wave Power Global and Franklin Covey Co. also rose significantly. However, shares of BioXcel Therapeutics, Greenlane Holdings, and Mobiquity Technologies fell.
June 29, 2023 | 4:41 pm
News sentiment analysis
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NEGATIVE IMPACT
BioXcel Therapeutics shares dropped 62% after releasing topline results from TRANQUILITY II Phase 3 trial.
Negative clinical trial results typically lead to a negative reaction in the stock market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Shares of Greenlane Holdings were down 24% after announcing a $4 million public offering.
Public offerings can dilute existing shares, leading to a negative reaction in the stock market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Mobiquity Technologies was down, falling 27% after the company reported pricing of $3 million public offering.
Public offerings can dilute existing shares, leading to a negative reaction in the stock market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
McCormick reported better-than-expected Q2 earnings, slightly missing sales consensus but beating EPS consensus.
Positive earnings reports typically lead to a positive reaction in the stock market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Sigilon Therapeutics shares shot up 516% after Eli Lilly agreed to acquire the company.
Acquisition news typically leads to a positive reaction in the stock market for the company being acquired.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100