Crude Oil Moves Lower; ISM Services PMI Surges In June
Portfolio Pulse from Lisa Levin
U.S. stocks traded lower with the Dow Jones dropping over 450 points. The ISM services PMI rose to 53.9 in June, from 50.3 in May. Caribou Biosciences, Mullen Automotive, and Borqs Technologies saw their shares rise after various announcements, while 22nd Century Group, VBI Vaccines, and ASLAN Pharmaceuticals saw their shares drop due to different reasons. Oil traded down 1.9% to $70.41 while gold traded down 0.8% at $1,911.10.
July 06, 2023 | 4:04 pm
News sentiment analysis
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NEGATIVE IMPACT
ASLAN Pharmaceuticals shares dropped 24% after the company said the eblasakimab 400mg Q4W dosing arm did not meet the primary or secondary endpoints with statistical significance.
The failure of the eblasakimab 400mg Q4W dosing arm to meet the primary or secondary endpoints is a negative development for ASLAN Pharmaceuticals, leading to the drop in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
VBI Vaccines shares dropped 52% after the company reported pricing of $18 million public offering and $3 million concurrent registered direct offering.
The announcement of the pricing of a public offering and a concurrent registered direct offering could be seen as a negative development for VBI Vaccines, leading to the drop in its share price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
22nd Century Group shares dropped 20% after the company announced a $3 million registered direct offering priced above market.
The announcement of a registered direct offering priced above market could be seen as a negative development for 22nd Century Group, leading to the drop in its share price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Borqs Technologies shares rose 27% after the company, together with SkyCentrics, launched the next generation CTA-2045 ECOPORT communication products.
The launch of the next generation communication products could be seen as a positive development for Borqs Technologies, leading to the rise in its share price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Caribou Biosciences shares rose 61% after announcing a $25 million equity investment from Pfizer.
The equity investment from Pfizer is a positive development for Caribou Biosciences, indicating confidence in the company's prospects and providing it with additional capital.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Mullen Automotive shares rose 43% after the company announced the retention of a law group to investigate possible naked short selling and a buyback.
The announcement of a buyback and investigation into possible naked short selling could be driving investor confidence, leading to the rise in Mullen Automotive's share price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100