US Stocks Edge Higher; NY Empire State Manufacturing Index Falls In July
Portfolio Pulse from Lisa Levin
U.S. stocks traded slightly higher with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. The NY Empire State Manufacturing Index fell by 5.5 points to a reading of +1.1 in July. ProMIS Neurosciences, BridgeBio Pharma, and Acumen Pharmaceuticals saw significant stock increases due to positive clinical trial results. Novan, ViewRay, and BYND Cannasoft Enterprises saw significant stock decreases due to asset sales and bankruptcy filings.
July 17, 2023 | 2:02 pm
News sentiment analysis
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POSITIVE IMPACT
Acumen Pharmaceuticals shares rose by 61% after presenting positive Phase 1 study results.
The company's positive Phase 1 study results have led to a significant increase in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
BridgeBio Pharma shares increased by 61% after a successful Phase 3 study.
The company's successful Phase 3 study has led to a significant increase in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
ProMIS Neurosciences shares shot up 117% after showcasing positive preclinical data at a conference.
The company's positive preclinical data presentation at a conference has led to a significant increase in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
BYND Cannasoft Enterprises shares fell 54% after the company priced its shares offering at $1.50 per share.
The company's pricing of its shares offering at $1.50 per share has led to a significant decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Novan shares dropped 67% after the company announced an agreement to sell substantially all of its assets and filed for Chapter 11 protection.
The company's announcement of an asset sale and Chapter 11 filing has led to a significant decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
ViewRay shares were down 65% after the company filed voluntary Chapter 11 petitions.
The company's Chapter 11 filing has led to a significant decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100