Dow Jumps Over 300 Points; US Inflation Rate Rises To 3.2%
Portfolio Pulse from Lisa Levin
US stocks traded higher following the release of inflation data. The Dow, NASDAQ, and S&P 500 all rose. Edible Garden AG (EDBL), Capri Holdings Limited (CPRI), and WeWork Inc. (WE) saw significant increases in their share prices. However, Galera Therapeutics, Inc. (GRTX), Amyris, Inc. (AMRS), and Origin Materials, Inc. (ORGN) experienced significant drops. The US inflation rate rose to 3.2% in July from 3% in June.
August 10, 2023 | 1:55 pm
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NEGATIVE IMPACT
Amyris, Inc. shares dropped 78% after the company filed for Chapter 11 bankruptcy.
The company's filing for Chapter 11 bankruptcy has led to a significant drop in its share price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Galera Therapeutics, Inc. shares dropped 83% after receiving a Complete Response Letter from the FDA.
The company's receipt of a Complete Response Letter from the FDA has led to a significant drop in its share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Origin Materials, Inc. shares dropped 60% after mixed Q2 results.
The company's mixed Q2 results have led to a significant drop in its share price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Capri Holdings Limited shares rose 56% after Tapestry announced an agreement to acquire the company.
The announcement of the company's acquisition by Tapestry has led to a significant increase in its share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Edible Garden AG shares rose 78% after better-than-expected Q2 results.
The company's better-than-expected Q2 results have led to a significant increase in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
WeWork Inc. shares rose 29% despite worse-than-expected Q2 results.
Despite worse-than-expected Q2 results, the company's shares have risen significantly.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100