Nasdaq Edges Higher; ISM Services PMI Falls In July
Portfolio Pulse from Lisa Levin
U.S. stocks were mixed with the Nasdaq Composite slightly higher. The ISM services PMI declined to 52.7 in July from 53.9 in June. Upwork Inc., Vital Farms, Inc., and Traeger, Inc. saw their shares rise after posting strong quarterly results. Aravive, Inc., Bio-Path Holdings, Inc., and Vicarious Surgical Inc. saw their shares drop due to disappointing news.
August 04, 2023 | 1:52 pm
News sentiment analysis
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NEGATIVE IMPACT
Aravive shares dropped 71% after the company's Phase 3 trial did not meet its primary endpoint.
Aravive's Phase 3 trial failure is negative news that could drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Bio-Path shares were down 47% after the company reported pricing of $2.1 million public offering.
Bio-Path's public offering pricing is negative news that could drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Vicarious Surgical shares fell 43% after the company announced pricing of $45 million public offering.
Vicarious Surgical's public offering pricing is negative news that could drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Traeger shares rose 39% after posting strong quarterly results.
Traeger's strong quarterly results are positive news that could drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Upwork shares rose 38% after strong Q2 results and raised full-year guidance.
Upwork's strong Q2 results and raised full-year guidance are positive news that could drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Vital Farms shares rose 29% following strong quarterly results.
Vital Farms' strong quarterly results are positive news that could drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100