Crude Oil Rises 1%; Levi Strauss Shares Slide
Portfolio Pulse from Lisa Levin
U.S. stocks traded mixed with the Dow down 0.09% and NASDAQ up 0.47%. The U.S. economy added 209,000 jobs in June, below the expected 225,000. Energy shares rose by 1.2% while consumer staples fell by 0.6%. Prestige Wealth Inc. (PWM), Gorilla Technology Group Inc. (GRRR), and Near Intelligence, Inc. (NIR) saw significant stock increases. iMedia Brands, Inc. (IMBI), Levi Strauss & Co. (LEVI), and authID Inc. (AUID) experienced stock decreases.
July 07, 2023 | 4:05 pm
News sentiment analysis
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POSITIVE IMPACT
Shares of Gorilla Technology Group Inc. shot up 93% to $4.05 after the company signed a $270 million contract with the Government of Egypt.
The company's stock price has increased significantly due to the announcement of a major contract.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Near Intelligence, Inc. shares were up 26% to $1.4950 after Benchmark initiated coverage with a Speculative Buy rating and a price target of $3.
The company's stock price has increased significantly due to the positive analyst rating and price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Prestige Wealth Inc. shares shot up 90% to $9.52 after pricing of $5 million initial public offering of 1 million shares at $5 per share.
The company's stock price has increased significantly due to the announcement of its initial public offering.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
authID Inc. was down, falling 10% to $0.7640 after the company announced a 1-for-8 reverse stock split effective July 10, 2023.
The company's stock price has decreased due to the announcement of a reverse stock split.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
iMedia Brands, Inc. shares dropped 13% to $0.1168 after the company announced it received a delisting notice from Nasdaq following its Chapter 11 filing.
The company's stock price has decreased significantly due to the announcement of its bankruptcy filing and delisting notice.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Shares of Levi Strauss & Co. were down 6% to $13.43 after the company reported upbeat earnings for its second quarter, but lowered its annual profit outlook.
The company's stock price has decreased due to the announcement of a lowered annual profit outlook despite positive Q2 earnings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100