Market Reacts To PPI Inflation Drop: 7 Stocks in the Spotlight Thursday
Portfolio Pulse from Piero Cingari
The US producer price index (PPI) inflation dropped to 0.1% YoY in June, lower than expected. This has led to notable price shifts in various sectors. Investors are betting on the Fed raising rates once in July. Stocks that moved include Plug Power, which surged 8% after securing an order for a green hydrogen project; Progressive Corporation, which fell 10% due to lower-than-expected results; Nikola Corp., which rose 14% after a purchase plan by BayoTech; Cryoport, which plummeted 25% after lowering its revenue forecast; Carvana, which dropped 7% after a downgrade by JPMorgan; Viasat, which collapsed 30% due to a satellite deployment anomaly; and Palo Alto Networks, which rose 4% after a price target lift by JPMorgan.
July 13, 2023 | 3:47 pm
News sentiment analysis
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POSITIVE IMPACT
Nikola Corp. rose 14% after a purchase plan by BayoTech.
The company's stock rose due to the purchase plan, indicating positive investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Palo Alto Networks rose 4% after a price target lift by JPMorgan.
The company's stock rose due to the price target lift, indicating positive investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Plug Power surged over 8% after securing an order for a green hydrogen project.
The company's stock surged due to the secured order, indicating positive investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Carvana dropped 7% after a downgrade by JPMorgan.
The company's stock dropped due to the downgrade, indicating negative investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Cryoport plummeted 25% after lowering its revenue forecast.
The company's stock plummeted due to the lowered revenue forecast, indicating negative investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Progressive Corporation fell 10% due to lower-than-expected results.
The company's stock fell due to disappointing results, indicating negative investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Viasat collapsed 30% due to a satellite deployment anomaly.
The company's stock collapsed due to the satellite deployment anomaly, indicating negative investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100