Dow Jumps 100 Points; US GDP Rises 2.4% In Q2
Portfolio Pulse from Lisa Levin
US stocks traded higher following the release of major economic reports. The US economy grew by an annualized 2.4% in Q2, higher than market estimates of 1.8%. Carmell Therapeutics Corporation (CTCX), Mallinckrodt plc (MNK), and Ultralife Corporation (ULBI) saw their shares rise significantly. However, Mersana Therapeutics (MRSN), Yellow Corporation (YELL), and Asensus Surgical (ASXC) saw their shares drop.
July 27, 2023 | 1:45 pm
News sentiment analysis
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POSITIVE IMPACT
Carmell Therapeutics Corporation shares rose 42% after announcing a merger with Axolotl Biologix.
The announcement of the merger with Axolotl Biologix has led to a significant increase in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shares of Mallinckrodt plc rose 45% following a report suggesting the company is considering bankruptcy to avoid opioid payments.
The potential bankruptcy news has led to a significant increase in the company's share price as it may help the company avoid opioid payments.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Ultralife Corporation shares rose 49% after the company posted better-than-expected Q2 results.
The company's better-than-expected Q2 results have led to a significant increase in the company's share price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Asensus Surgical shares fell 32% as the company reported a $10 million registered direct offering.
The company's announcement of a $10 million registered direct offering has led to a significant decrease in the company's share price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Mersana Therapeutics shares dropped 79% after the company's UPLIFT clinical trial did not meet its primary endpoint.
The failure of the UPLIFT clinical trial to meet its primary endpoint has led to a significant decrease in the company's share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Shares of Yellow Corporation were down 56% following news that the company is preparing to file for bankruptcy.
The news of the company's impending bankruptcy has led to a significant decrease in the company's share price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100