Dollar Tree, Burlington Stores, Opera And Other Big Stocks Moving Lower On Thursday
Portfolio Pulse from Lisa Levin
Several US stocks traded lower on Thursday, with AMC Entertainment Holdings, Petco Health and Wellness Company, Spirit AeroSystems Holdings, Opera Limited, C3.ai, IonQ, Fulcrum Therapeutics, Zuora, Dollar Tree, Bitfarms, TuSimple Holdings, Tilray Brands, Canoo, Burlington Stores, Applied Optoelectronics, Nikola Corporation, Roku, Lavoro Limited, Snowflake, and Marvell Technology all recording losses. Factors contributing to the decline include mixed quarterly results, lowered sales guidance, and quality issues.
August 24, 2023 | 3:18 pm
News sentiment analysis
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NEGATIVE IMPACT
Applied Optoelectronics shares fell 8% to $14.10.
No specific reason was given for the decline, but the overall market trend was negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
C3.ai shares fell 11.3% to $28.92.
No specific reason was given for the decline, but the overall market trend was negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
AMC shares tumbled 30% to $13.72 after Wedbush upgraded AMC from Underperform to Neutral and announced a $19 price target.
The downgrade by Wedbush is likely to negatively impact AMC's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Bitfarms shares fell 9.5% to $1.2570.
No specific reason was given for the decline, but the overall market trend was negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Burlington Stores shares declined 8.2% to $156.04 after the company lowered its full-year sales guidance, citing economic pressures on lower-income shoppers.
The announcement of lowered full-year sales guidance is likely to negatively impact Burlington Stores' stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Dollar Tree shares tumbled 10% to $127.89 after the company reported second-quarter financial results and issued third-quarter EPS guidance below estimates.
The announcement of Q2 results and lower Q3 EPS guidance is likely to negatively impact Dollar Tree's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Fulcrum Therapeutics shares declined 11% to $5.41.
No specific reason was given for the decline, but the overall market trend was negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Canoo shares dipped 8.2% to $0.4904.
No specific reason was given for the decline, but the overall market trend was negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
IonQ shares tumbled 11.2% to $14.31.
No specific reason was given for the decline, but the overall market trend was negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Lavoro shares fell 5.5% to $5.48.
No specific reason was given for the decline, but the overall market trend was negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Marvell Technology shares fell 5.1% to $58.48.
No specific reason was given for the decline, but the overall market trend was negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Nikola shares declined 8% to $1.21.
No specific reason was given for the decline, but the overall market trend was negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Opera shares dipped 14.3% to $12.94 after the company reported mixed second-quarter results.
The announcement of mixed Q2 results is likely to negatively impact Opera's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Roku shares declined 5.8% to $75.63.
No specific reason was given for the decline, but the overall market trend was negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Snowflake shares fell 5.4% to $147.30 following quarterly results.
The announcement of quarterly results is likely to negatively impact Snowflake's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Spirit AeroSystems shares tumbled 15.6% to $19.39 after the company announced it is aware of a quality issue involving elongated fastener holes on the aft pressure bulkhead on certain models of the 737 fuselage produce by the company.
The announcement of a quality issue is likely to negatively impact Spirit AeroSystems' stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tilray shares fell 8.4% to $2.28.
No specific reason was given for the decline, but the overall market trend was negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
TuSimple shares dipped 9% to $1.32.
No specific reason was given for the decline, but the overall market trend was negative.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Petco shares dipped 20.9% to $5.18 after the company reported second-quarter results and initiated cost action plan during the quarter.
The announcement of Q2 results and a cost action plan is likely to negatively impact Petco's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Zuora shares dipped 10.5% to $8.66 following weak quarterly sales.
The announcement of weak quarterly sales is likely to negatively impact Zuora's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100