Caterpillar, Oshkosh, AudioCodes And Other Big Stocks Moving Higher On Tuesday
Portfolio Pulse from Lisa Levin
Despite a general downturn in the US stock market, several companies saw significant gains. American Superconductor Corporation (AMSC) jumped 49% amid claims of a new superconductor. Nikola Corporation (NKLA) gained 21% after being awarded an additional $16.3 million for hydrogen refueling stations. Rhythm Pharmaceuticals (RYTM), Arista Networks (ANET), and AudioCodes (AUDC) all saw gains following strong quarterly sales or better-than-expected results. EQRx (EQRX) gained 14.3% following an announcement of its acquisition by Revolution Medicines. Other companies such as Emergent BioSolutions (EBS), Proterra (PTRA), Great Lakes Dredge & Dock Corporation (GLDD), Mativ Holdings (MATV), Douglas Dynamics (PLOW), TETRA Technologies (TTI), Varonis Systems (VRNS), HUTCHMED (HCM), SunCoke Energy (SXC), Rigetti Computing (RGTI), Oshkosh Corporation (OSK), Caterpillar (CAT), and Global Payments (GPN) also recorded gains.
August 04, 2023 | 9:30 am
News sentiment analysis
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POSITIVE IMPACT
American Superconductor Corporation's stock jumped 49% amid claims of a new superconductor.
The news of a new superconductor has led to a significant increase in the stock price of AMSC. This suggests a positive market reaction and potential for further growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Arista Networks surged 18.7% after the company reported better-than-expected quarterly results.
Better-than-expected quarterly results have boosted investor confidence in Arista Networks, leading to an 18.7% increase in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
AudioCodes shares rose 16.2% following upbeat second-quarter earnings.
Positive second-quarter earnings have led to a positive market reaction, resulting in a 16.2% increase in the stock price of AudioCodes.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Nikola Corporation gained 21% after being awarded an additional $16.3 million for hydrogen refueling stations.
The additional funding for hydrogen refueling stations has boosted investor confidence in Nikola Corporation, leading to a 21% increase in its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Rhythm Pharmaceuticals rose 19% following strong quarterly sales.
Strong quarterly sales have led to a positive market reaction, resulting in a 19% increase in the stock price of Rhythm Pharmaceuticals.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100