Nasdaq Moves Lower; Acuity Brands Earnings Top Estimates
Portfolio Pulse from Lisa Levin
US stocks traded higher with the Dow Jones gaining more than 200 points. Acuity Brands reported better-than-expected earnings for its third quarter but missed the consensus on net sales. Sigilon Therapeutics shares shot up 505% after Eli Lilly agreed to acquire the company. Shares of Eco Wave Power Global and Immunome also rose after announcing a share repurchase program and a definitive merger agreement respectively. BioXcel Therapeutics, Greenlane Holdings, and Mobiquity Technologies shares dropped after releasing topline results from a Phase 3 trial, announcing a public offering, and reporting pricing of a public offering respectively.
June 29, 2023 | 6:32 pm
News sentiment analysis
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NEGATIVE IMPACT
BioXcel Therapeutics shares dropped after the company released topline results from a Phase 3 trial.
The release of topline results from a Phase 3 trial could have a negative impact on the stock price if the results were not as expected.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Shares of Greenlane Holdings dropped after announcing a $4 million public offering.
The announcement of a public offering could dilute existing shares and have a negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Mobiquity Technologies shares dropped after the company reported pricing of a public offering of 30 million shares.
The pricing of a public offering could dilute existing shares and have a negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Acuity Brands reported better-than-expected earnings for its third quarter but missed the consensus on net sales.
While the company beat earnings estimates, the miss on net sales could have a neutral impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Immunome shares rose after the company and Morphimmune announced a definitive merger agreement.
The merger agreement with Morphimmune is a positive development for Immunome and could drive the stock price up.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Sigilon Therapeutics shares shot up 505% after Eli Lilly agreed to acquire the company.
The acquisition by Eli Lilly is a positive development for Sigilon Therapeutics and is likely to drive the stock price up.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Shares of Eco Wave Power Global rose after the company announced plans for a share repurchase program.
The announcement of a share repurchase program is generally viewed positively by investors and could drive the stock price up.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80