Becton, Dickinson and Company, Applied Digital, POSCO And Other Big Stocks Moving Higher On Monday
Portfolio Pulse from Lisa Levin
Several US stocks traded higher on Monday, with AMC Entertainment, Applied Digital, POSCO Holdings, HighPeak Energy, Janux Therapeutics, NIO, Bilibili, Kanzhun Limited, WW International, XPeng, MINISO Group, Metropolitan Bank Holding, iQIYI, CAVA Group, IMAX Corporation, Becton, Dickinson and Company, Tellurian, and Vipshop Holdings all recording gains. Notable reasons for the increases include AMC's denial to convert preferred equity units into common stock, Applied Digital's better-than-expected Q4 results, POSCO's strong quarterly earnings, and China's pledge to optimize the business environment for private enterprises.
July 24, 2023 | 3:49 pm
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POSITIVE IMPACT
AMC shares jumped 25% after a Delaware judge denied the company from converting its AMC preferred equity units into common stock.
The judge's decision to deny AMC's equity conversion is a positive development for the company, as it prevents dilution of the existing shares, which is likely to have led to the stock's increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Applied Digital shares rose 23.4% after the company reported better-than-expected Q4 results and issued FY24 revenue guidance above estimates.
Applied Digital's better-than-expected Q4 results and positive FY24 revenue guidance are likely to have boosted investor confidence, leading to the stock's increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Becton, Dickinson and Company shares gained 6.2% after the company received FDA510(k) clearance for the updated BD Alaris Infusion System and was upgraded by Raymond James.
The FDA clearance for Becton, Dickinson and Company's updated infusion system and the upgrade by Raymond James are likely to have boosted investor confidence, leading to the stock's increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
NIO shares gained 12.5% after China pledged to optimize the business environment for private enterprises.
China's pledge to optimize the business environment for private enterprises is likely to have boosted investor confidence in Chinese companies like NIO, leading to the stock's increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
POSCO shares climbed 17.2% following strong quarterly earnings.
POSCO's strong quarterly earnings are likely to have boosted investor confidence, leading to the stock's increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100