Cleveland-Cliffs, United States Steel, monday.com And Other Big Stocks Moving Higher On Monday
Portfolio Pulse from Lisa Levin
Several US stocks recorded gains on Monday, with TMC the metals company Inc., United States Steel Corporation, SoundHound AI, Inc., Consolidated Water Co. Ltd., Summit Therapeutics Inc., monday.com Ltd., AMC Entertainment Hldg Pref Equity Units, Karat Packaging Inc., Archer Aviation Inc., FiscalNote Holdings, Inc., DMC Global Inc., Algoma Steel Group Inc., 2U, Inc., Applied Optoelectronics, Inc., Cleveland-Cliffs Inc., and Micron Technology, Inc. all seeing significant increases. Notably, United States Steel rejected a buyout offer from Cleveland-Cliffs but welcomed them to participate in a formal review process.
August 14, 2023 | 3:04 pm
News sentiment analysis
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POSITIVE IMPACT
Cleveland-Cliffs Inc. shares rose 5.5% after the company publicly announced a buyout offer to U.S. Steel's board.
The public announcement of a buyout offer to U.S. Steel's board indicates that the company is actively seeking growth opportunities, which is likely to have a positive impact on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
monday.com Ltd. shares jumped 12% after the company reported second-quarter revenue growth of 42% Y/Y, beating the consensus.
The company's strong revenue growth and beating of consensus estimates is likely to have a positive impact on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Micron Technology, Inc. shares gained 5.1%.
The stock's gain is likely due to positive market sentiment, which is likely to have a positive impact on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
TMC the metals company Inc. shares surged 30% after the company announced a registered direct offering at $2 per share plus warrants.
The announcement of a registered direct offering at a higher price than the current trading price is likely to have a positive impact on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
United States Steel Corporation shares gained 26.1% after the company rejected a buyout offer from Cleveland-Cliffs Inc. but welcomed them to participate in a formal review process.
The rejection of the buyout offer and the invitation for a formal review process indicates that the company is open to potential deals, which is likely to have a positive impact on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100