Nasdaq Jumps Over 200 Points; US Job Openings Tumble In July
Portfolio Pulse from Lisa Levin
US stocks traded higher with the Nasdaq Composite gaining over 200 points. Job openings fell by 338,000 to 8.827 million in July, the lowest since March 2021. Axcella Health, Big Lots, and LifeVantage Corporation saw their shares rise after positive news, while JOANN, NIO, and HEICO Corporation shares fell due to weak earnings and guidance.
August 29, 2023 | 4:03 pm
News sentiment analysis
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NEGATIVE IMPACT
HEICO Corporation shares fell 4% after reporting third-quarter results.
Negative earnings results can lead to a decrease in investor confidence and a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
JOANN shares fell 12% following weak quarterly earnings.
Weak earnings results can lead to a negative reaction in the stock market as they indicate poor financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
NIO shares fell 4% after the company reported worse-than-expected second-quarter financial results and issued third-quarter guidance.
Worse-than-expected earnings results and negative guidance can decrease investor confidence and lead to a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Axcella Health shares rose 190% after the company was granted a patent for long COVID fatigue treatment.
The granting of a patent for a treatment is a positive development for a healthcare company, which can lead to increased investor confidence and a rise in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Big Lots shares rose 31% following better-than-expected quarterly results.
Better-than-expected earnings results typically lead to a positive reaction in the stock market as they indicate strong financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
LifeVantage Corporation shares rose 21% after the company posted fourth-quarter results and declared a special one-time cash dividend.
Positive earnings results and the declaration of a special dividend can increase investor confidence and drive up the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100