Nasdaq Rises 70 Points; General Motors Posts Upbeat Earnings
Portfolio Pulse from Lisa Levin
US stocks traded mixed with the Nasdaq Composite gaining around 70 points. General Motors (GM) reported better-than-expected earnings for its second quarter, beating market estimates. Electra Battery Materials (ELBM), Aurora Acquisition Corp. (AURC), and Bullfrog AI Holdings (BFRG) saw their shares rise significantly. However, Humanigen (HGEN), Bellerophon Therapeutics (BLPH), and NeuroOne Medical Technologies (NMTC) experienced a drop in their shares.
July 25, 2023 | 1:59 pm
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NEGATIVE IMPACT
Shares of Bellerophon Therapeutics were down after the company received a delisting notice.
The receipt of a delisting notice is a negative development for BLPH, likely leading to a drop in its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Shares of Humanigen dropped as the company anticipates that it will not be able to continue as a going concern and is exploring all restructuring options, including bankruptcy.
The announcement of potential bankruptcy and restructuring is a negative development for HGEN, likely leading to a drop in its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Shares of NeuroOne Medical Technologies were down after the company priced the underwritten registered public offering of 5.25 million shares at $1.00 per share.
The pricing of the public offering at $1.00 per share is likely to dilute existing shares, leading to a drop in NMTC's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shares of Aurora Acquisition Corp. got a boost.
The article does not provide specific reasons for the boost in AURC's shares, but the increase is likely to have a positive impact on the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Shares of Bullfrog AI Holdings were up after the company announced a US patent for novel prodrugs of mebendazole and their use in treating cancer.
The announcement of a US patent for novel prodrugs of mebendazole for cancer treatment is a positive development for BFRG, likely leading to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Shares of Electra Battery Materials shot up after the company announced an extension and expansion of its supply agreement with LG Energy Solution.
The extension and expansion of the supply agreement with LG Energy Solution is a positive development for ELBM, likely leading to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
General Motors reported better-than-expected Q2 earnings, beating market estimates.
GM's better-than-expected earnings report is likely to boost investor confidence and positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100