Crude Oil Down 1%; Disney Profit Tops Expectations
Portfolio Pulse from Lisa Levin
U.S. stocks traded higher with the Nasdaq Composite gaining more than 100 points. The Walt Disney Company (NYSE:DIS) reported better-than-expected earnings for its third quarter, while sales missed expectations. Edible Garden AG Incorporated (NASDAQ:EDBL), Capri Holdings Limited (NYSE:CPRI), and Holley Inc. (NYSE:HLLY) reported positive financial results. Galera Therapeutics, Inc. (NASDAQ:GRTX), Amyris, Inc. (NASDAQ:AMRS), and Origin Materials, Inc. (NASDAQ:ORGN) faced negative developments.
August 10, 2023 | 4:01 pm
News sentiment analysis
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POSITIVE IMPACT
Capri Holdings Limited got a boost after Tapestry announced a definitive agreement to acquire the company.
Acquisition news generally leads to a positive impact on the stock price of the company being acquired.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Disney reported better-than-expected earnings for its third quarter, while sales missed expectations.
Positive earnings generally lead to a positive impact on the stock price, although the missed sales expectations might temper this somewhat.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Edible Garden AG Incorporated reported better-than-expected second-quarter financial results.
Positive financial results generally lead to a positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Holley Inc. posted upbeat second-quarter results and raised FY23 revenue outlook.
Positive financial results and raised outlook generally lead to a positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Amyris, Inc. shares were down after the company announced it filed for Chapter 11 bankruptcy.
Bankruptcy news generally leads to a negative impact on the stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Galera Therapeutics, Inc. shares dropped after the company announced it received a Complete Response Letter from the FDA for avasopasem manganese.
Negative regulatory news generally leads to a negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Origin Materials, Inc. was down after the company reported mixed second-quarter financial results.
Mixed financial results generally lead to a negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70