Scholastic, Matson, Digital World Acquisition And Other Big Stocks Moving Higher On Friday
Portfolio Pulse from Lisa Levin
Several US stocks traded higher on Friday, with notable gains for Digital World Acquisition Corp. (DWAC), Evelo Biosciences (EVLO), ServisFirst Bancshares (SFBS), Scholastic Corporation (SCHL), Matson (MATX), POSCO Holdings (PKX), Sight Sciences (SGHT), Autoliv (ALV), Stoke Therapeutics (STOK), Hyzon Motors (HYZN), Inter & Co (INTR), Sify Technologies (SIFY), United Homes Group (UHG), Forestar Group (FOR), Etsy (ETSY), WNS (Holdings) (WNS), and Zoetis (ZTS). Reasons for the gains include settlements with the SEC, termination of sublease agreements, upbeat Q2 results, stock repurchase programs, and analyst upgrades.
July 21, 2023 | 2:23 pm
News sentiment analysis
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POSITIVE IMPACT
Autoliv climbed 9% following strong quarterly results.
Strong Q2 results are a positive signal of the company's performance and future prospects, which likely led to the increase in ALV's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Digital World Acquisition Corp. climbed 69% after reaching a settlement with the SEC.
The settlement with the SEC removes a significant regulatory hurdle for DWAC, which is likely to have boosted investor confidence and driven the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Etsy rose 5.6%.
The article does not provide a specific reason for the increase in ETSY's stock price, but the gain suggests positive market sentiment towards the company.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Evelo Biosciences shares surged 30.8% after the company terminated a sublease agreement with Bio-Rad Laboratories.
The termination of the sublease agreement could be seen as a positive move by investors, possibly due to cost savings or strategic reasons, leading to the surge in EVLO's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Forestar Group gained 5.6% after BTIG upgraded the company from Neutral to Buy and announced a $32 price target.
The upgrade from BTIG and the announcement of a $32 price target are positive signals for the company, likely leading to the increase in FOR's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Hyzon Motors shares rose 6.8%.
The article does not provide a specific reason for the increase in HYZN's stock price, but the gain suggests positive market sentiment towards the company.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Inter & Co jumped 6.8%.
The article does not provide a specific reason for the increase in INTR's stock price, but the gain suggests positive market sentiment towards the company.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Matson surged 11% after reporting preliminary second-quarter results.
Preliminary Q2 results are a positive signal of the company's performance and future prospects, which likely led to the increase in MATX's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
POSCO Holdings shares gained 10.2%.
The article does not provide a specific reason for the increase in PKX's stock price, but the gain suggests positive market sentiment towards the company.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Scholastic Corporation climbed 13.2% following upbeat quarterly earnings and an additional $100 million authorization for repurchases of its common stock.
Positive earnings and the announcement of a significant stock repurchase program are both strong signals of the company's financial health and confidence in its future prospects, likely leading to the increase in SCHL's stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
ServisFirst Bancshares gained 17.3% following upbeat second-quarter results.
Strong Q2 results are a positive signal of the company's performance and future prospects, which likely led to the increase in SFBS's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Sight Sciences gained 9.7% after releasing the six-month SAHARA randomized controlled trial comparing interventional eyelid procedures enabled by TearCare Technology to Restasis for dry eye disease.
Positive trial results are a strong signal of the potential success of a company's product, which likely led to the increase in SGHT's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Sify Technologies gained 6.4% despite reporting worse-than-expected first-quarter financial results.
Despite worse-than-expected Q1 results, SIFY's stock price increased, suggesting that other factors may have influenced investor sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Stoke Therapeutics gained 7.7%.
The article does not provide a specific reason for the increase in STOK's stock price, but the gain suggests positive market sentiment towards the company.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
United Homes Group jumped 5.7%.
The article does not provide a specific reason for the increase in UHG's stock price, but the gain suggests positive market sentiment towards the company.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
WNS (Holdings) gained 5.4% after Baird upgraded the company from Neutral to Outperform.
The upgrade from Baird is a positive signal for the company, likely leading to the increase in WNS's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Zoetis surged 5.3%.
The article does not provide a specific reason for the increase in ZTS's stock price, but the gain suggests positive market sentiment towards the company.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100