Why Tower Semiconductor Are Trading Lower By Around 8%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session
Portfolio Pulse from Lisa Levin
The article lists the stocks that have gained and lost in Wednesday's mid-day session. Notable gainers include Novo Integrated Sciences, Akumin, and Green Giant, which reported positive financial results or updates. On the other hand, Sacks Parente Golf, RVL Pharmaceuticals, and Coherent Corp. were among the biggest losers, with factors such as IPO pricing and disappointing financial results contributing to their decline. Tower Semiconductor's shares fell by 8.2% after the company and Intel mutually agreed to terminate their takeover pending regulatory approval.
August 16, 2023 | 5:02 pm
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NEGATIVE IMPACT
Tower Semiconductor shares fell 8.2% after the company and Intel mutually agreed to terminate their takeover pending regulatory approval.
The termination of the takeover deal with Intel, which was likely seen as a positive development for the company, has likely led to the decline in the company's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Akumin shares jumped 61.3% despite reporting a YoY decrease in Q2 financial results.
Despite the decrease in financial results, other factors may have contributed to the increase in the company's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Novo Integrated Sciences shares climbed 94.8% after issuing an update on certain current actions and events and reporting a YoY increase in Q3 EPS results.
The company's positive updates and improved financial results have likely contributed to the surge in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100