Crude Oil Rises 2.5%; Kellogg Posts Upbeat Earnings
Portfolio Pulse from Lisa Levin
U.S. stocks were mixed with Dow trading down 0.05% and NASDAQ rising 0.05%. Kellogg Company (NYSE:K) reported better-than-expected earnings for its second quarter with organic sales growth of 7.1% YoY to $4.14 billion. Upwork Inc. (NASDAQ:UPWK), Vital Farms, Inc. (NASDAQ:VITL), and Traeger, Inc. (NYSE:COOK) saw their shares rise after posting strong quarterly results. However, Aravive, Inc. (NASDAQ:ARAV), Bio-Path Holdings, Inc. (NASDAQ:BPTH), and Vicarious Surgical Inc. (NYSE:RBOT) saw their shares drop due to various reasons including unsuccessful trials and public offering pricing.
August 04, 2023 | 2:14 pm
News sentiment analysis
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POSITIVE IMPACT
Traeger's shares rose after the company posted strong quarterly results.
Traeger's strong quarterly results could lead to a positive short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Kellogg reported better-than-expected Q2 earnings with a 7.1% YoY organic sales growth.
Kellogg's better-than-expected earnings and sales growth could lead to a positive short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Upwork's shares rose after the company posted strong Q2 results and raised full-year guidance.
Upwork's strong Q2 results and raised guidance could lead to a positive short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Vital Farms' shares rose following strong quarterly results.
Vital Farms' strong quarterly results could lead to a positive short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Aravive's shares dropped after the company's Phase 3 trial did not meet its primary endpoint.
Aravive's unsuccessful Phase 3 trial could lead to a negative short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Bio-Path's shares dropped after the company reported pricing of $2.1 million public offering.
Bio-Path's public offering pricing could lead to a negative short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Vicarious Surgical's shares dropped after the company announced pricing of $45 million public offering.
Vicarious Surgical's public offering pricing could lead to a negative short-term impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100