Dow Surges 150 Points; Domino's Pizza Earnings Top Expectations
Portfolio Pulse from Lisa Levin
U.S. stocks traded higher with the S&P 500 gaining over 150 points. Domino's Pizza Inc (DPZ) reported better-than-expected earnings for its second quarter, despite a sales decline. Tupperware Brands Corporation (TUP), Vinco Ventures, Inc. (BBIG), and Armata Pharmaceuticals, Inc. (ARMP) saw significant stock increases. AppHarvest, Inc. (APPH), Kodiak Sciences Inc. (KOD), and 22nd Century Group, Inc. (XXII) experienced stock decreases.
July 24, 2023 | 2:46 pm
News sentiment analysis
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NEGATIVE IMPACT
AppHarvest, Inc. shares dropped 67% to $0.1090. AppHarvest announced Chapter 11 filing to support a financial and operational transition.
The Chapter 11 filing by AppHarvest is likely to negatively impact investor confidence and drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Shares of Kodiak Sciences Inc. were down 46% to $3.92 after the company released topline results from three Phase 3 studies.
The release of Phase 3 study results by Kodiak Sciences Inc. could negatively impact investor confidence and drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
22nd Century Group, Inc. was down, falling 40% to $2.8940. 22nd Century named interim CEO and implemented a $15 million cost reduction initiative.
The interim CEO appointment and cost reduction initiative by 22nd Century Group, Inc. could negatively impact investor confidence and drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Armata Pharmaceuticals, Inc. shares were also up, gaining 24% to $1.43.
The increase in ARMP shares could continue to drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shares of Vinco Ventures, Inc. got a boost, shooting 58% to $5.26.
The significant increase in BBIG shares could continue to drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Domino's Pizza reported better-than-expected Q2 earnings, despite a sales decline.
The better-than-expected earnings could boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tupperware Brands Corporation shares shot up 68% on above-average volume amid retail investor interest.
The surge in TUP shares is likely due to increased retail investor interest, which could continue to drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100