Ford Motor, AT&T, Frontier Communications And Other Big Stocks Moving Lower On Monday
Portfolio Pulse from Lisa Levin
Despite the Dow Jones gaining over 50 points, several big stocks recorded losses. These include Apellis Pharmaceuticals, Chijet Motor Company, Frontier Communications, TMC the metals company, Puyi Inc., Consolidated Communications Holdings, Farfetch Limited, Intchains Group Limited, Altice USA, Nikola Corporation, CommScope Holding Company, YETI Holdings, Leslie's, Ford Motor Company, and AT&T Inc. Some of these losses were due to downgrades by Citigroup and other financial institutions.
July 17, 2023 | 2:51 pm
News sentiment analysis
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NEGATIVE IMPACT
Apellis Pharmaceuticals shares declined 21.2% to $66.62.
The stock price fell significantly, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Chijet Motor Company shares plunged 18.7% to $3.4550 after announcing its first shipment of automobile orders to Peru.
Despite the announcement of a new export operation, the stock price fell significantly, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ford Motor Company shares slipped 4.6% to $14.30 after the company announced price cuts for all versions of its electric F-150 Lightning pickup.
The announcement of price cuts for a major product likely contributed to the drop in stock price, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Frontier Communications shares tumbled 12.8% to $12.47 after Citigroup downgraded the stock from Buy to Neutral and lowered the price target from $30 to $17.
The downgrade by Citigroup and the lowering of the price target likely contributed to the significant drop in stock price, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
AT&T shares fell 4.2% to $13.89 after Citigroup downgraded the stock from Buy to Neutral and lowered its price target from $22 to $16. BMO Capital also lowered its price target from $33 to $29.
The downgrade by Citigroup and BMO Capital and the lowering of the price targets likely contributed to the drop in stock price, indicating a negative short-term impact.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100