Dow Falls Over 200 Points; US Retail Sales Top Expectations
Portfolio Pulse from Lisa Levin
US stocks traded lower with the Dow Jones falling over 200 points. Retail sales in the US rose 0.7% MoM in July, beating market expectations of 0.4% growth. Shares of Delcath Systems, Novo Integrated Sciences, and Siyata Mobile rose significantly after positive news. However, shares of F45 Training Holdings, Design Therapeutics, and Galecto fell sharply due to negative developments.
August 15, 2023 | 2:01 pm
News sentiment analysis
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NEGATIVE IMPACT
Design Therapeutics shares fell 70% after the company reported initial results from its Phase 1 multiple-ascending dose study of DT-216 for the treatment of Friedrich ataxia, which included injection site reactions.
The negative initial results from the Phase 1 study of DT-216 is a significant negative development for Design Therapeutics, which is likely to decrease investor confidence and drive the stock price down.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
F45 Training Holdings shares dropped 74% after the company announced it intends to voluntarily delist and deregister its securities.
The announcement of voluntary delisting and deregistration is a significant negative development for F45 Training Holdings, which is likely to decrease investor confidence and drive the stock price down.
CONFIDENCE 95
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Galecto shares fell 64% after the company announced topline results from its Phase 2b GALACTIC-1 trial of GB0139 for idiopathic pulmonary fibrosis, which did not meet its primary endpoint. The company plans to discontinue development of GB0139.
The negative topline results from the Phase 2b trial of GB0139 and the decision to discontinue its development is a significant negative development for Galecto, which is likely to decrease investor confidence and drive the stock price down.
CONFIDENCE 95
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Delcath Systems shares rose 78% after FDA approval of HEPZATO KIT for the treatment of adult patients with unresectable hepatic-dominant metastatic uveal melanoma.
The FDA approval of HEPZATO KIT is a significant positive development for Delcath Systems, which is likely to boost investor confidence and drive the stock price up.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Novo Integrated Sciences shares rose 85% after the company announced a joint venture for Kenya Agricultural Cooperative Project.
The announcement of a joint venture for Kenya Agricultural Cooperative Project is a positive development for Novo Integrated Sciences, which is likely to boost investor confidence and drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Siyata Mobile shares rose 47% following upbeat quarterly sales.
The positive quarterly sales report is a positive development for Siyata Mobile, which is likely to boost investor confidence and drive the stock price up.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100