Gold Down 1.5%; ISM Manufacturing PMI Rises To 46.4 In July
Portfolio Pulse from Lisa Levin
U.S. stocks were mixed with the Dow slightly up and the NASDAQ and S&P 500 down. The ISM Manufacturing PMI rose to 46.4 in July, slightly below market estimates. ABVC BioPharma, American Superconductor Corporation, and Nikola Corporation saw significant stock increases, while Polished.com, TG Therapeutics, and ZoomInfo Technologies saw significant decreases. Gold and oil prices fell.
August 04, 2023 | 9:50 am
News sentiment analysis
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NEGATIVE IMPACT
Polished.com shares dropped 69% after the company announced filing of restated and delayed financial statements and release of results for the first quarter.
The stock price fell due to the announcement of restated and delayed financial statements, which is likely to negatively impact investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
TG Therapeutics shares fell 49% after the company reported second-quarter FY23 Briumvi net sales of $16 million in the U.S., with total net revenue of approximately $24 million since launch.
The stock price fell due to lower than expected net sales, which is likely to negatively impact the company's profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
ZoomInfo Technologies shares fell 26% after the company issued weak guidance.
The stock price fell due to the company's weak guidance, which is likely to negatively impact investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
ABVC BioPharma shares rose 53% after announcing a deal with Xinnovation Therapeutics.
The stock price rose due to the announcement of a deal with Xinnovation Therapeutics, which is likely to bring positive financial implications for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
American Superconductor Corporation shares rose 52% amid claims of a new superconductor.
The stock price rose due to claims of a new superconductor, which could potentially increase the company's market share and profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Nikola Corporation shares rose 20% after the company announced it was awarded an additional $16.3 million to support seven open-network hydrogen refueling stations.
The stock price rose due to the announcement of a significant award, which is likely to boost the company's revenues and profitability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100