Dow Surges 50 Points; General Electric Profit Tops Expectations
Portfolio Pulse from Lisa Levin
US stocks traded mixed with the Dow Jones gaining over 50 points. General Electric reported better-than-expected Q2 results with revenues of $16.70 billion, an 18% YoY increase, beating the consensus of $15 billion. Adjusted EPS was $0.68, up from $0.36 a year ago, beating the consensus of $0.46. GE raised its FY23 guidance based on first-half performance and continued second-half strength. Other stocks mentioned include Electra Battery Materials, Aurora Acquisition Corp, Bullfrog AI Holdings, Humanigen, Bellerophon Therapeutics, and NeuroOne Medical Technologies.
July 25, 2023 | 4:32 pm
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POSITIVE IMPACT
Shares of Aurora Acquisition Corp. shot up 175%.
The surge in Aurora Acquisition Corp.'s stock price is likely to continue in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Bullfrog AI Holdings shares were up 37% after the company announced 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 likely to have a positive impact on Bullfrog AI Holdings' stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Electra Battery Materials shares shot up 72% after its battery grade cobalt supply agreement with LG Energy Solution was extended and expanded.
The extension and expansion of Electra Battery Materials' cobalt supply agreement with LG Energy Solution is likely to have a positive impact on its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
General Electric reported better-than-expected Q2 results and raised its FY23 guidance.
General Electric's better-than-expected Q2 results and raised FY23 guidance are likely to have a positive impact on its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Shares of Bellerophon Therapeutics were down 40% after the company received a delisting notice.
The delisting notice received by Bellerophon Therapeutics is likely to have a negative impact on its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Humanigen shares dropped 75% as the company anticipates that it will not be able to continue as a going concern and is exploring all restructuring options, including bankruptcy.
Humanigen's announcement that it is exploring all restructuring options, including bankruptcy, is likely to have a negative impact on its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
NeuroOne Medical Technologies was down, falling 34% after the company priced the underwritten registered public offering of 5.25 million shares at $1.00 per share.
The pricing of the underwritten registered public offering of 5.25 million shares at $1.00 per share by NeuroOne Medical Technologies is likely to have a negative impact on its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100