Gold Moves Higher; Outlook Therapeutics Shares Plummet
Portfolio Pulse from Lisa Levin
US stocks traded higher with the Nasdaq Composite gaining around 100 points. Private businesses in the U.S. added 177,000 workers in August, missing market estimates of a 195,000 rise. NanoVibronix, Inc. (NAOV), Tingo Group, Inc. (TIO), and Conn's, Inc. (CONN) shares rose significantly. However, Outlook Therapeutics, Inc. (OTLK), Ambarella, Inc. (AMBA), and FibroGen, Inc. (FGEN) shares dropped due to various reasons including FDA response, revenue guidance, and trial data.
August 30, 2023 | 4:28 pm
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POSITIVE IMPACT
Conn's shares rose 27% after posting a narrower-than-expected quarterly loss.
The company's narrower-than-expected quarterly loss has led to a rise in its share price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
NanoVibronix shares rose 156% after reporting positive outcomes from a UroShield study.
The positive outcomes from the UroShield study have led to a significant increase in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tingo Group shares rose 39% after announcing the completion of an investigation into allegations made against the company.
The completion of the investigation into allegations against the company has led to a rise in the company's share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Ambarella shares were down 17% after the company issued third-quarter revenue guidance below estimates.
The company's lower-than-expected revenue guidance for the third quarter has led to a drop in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
FibroGen shares fell 28% after announcing topline data from the Phase 3 LELANTOS-2 trial.
The announcement of the topline data from the Phase 3 LELANTOS-2 trial has led to a drop in the company's share price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Outlook Therapeutics shares dropped 84% after receiving an FDA complete response letter regarding ONS-5010.
The FDA's response letter regarding ONS-5010 has led to a significant drop in the company's share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100