Dow Dips 200 Points; ISM Services PMI Rises In August
Portfolio Pulse from Lisa Levin
U.S. stocks traded lower with the Dow Jones falling around 200 points. The ISM services PMI rose to 54.5 in August, indicating the strongest growth in the services activity in six months. Palisade Bio, FOXO Technologies, and Marin Software saw their shares rise due to various positive developments. However, EZGO Technologies, Akoustis Technologies, and AMC Entertainment saw their shares drop due to negative news.
September 06, 2023 | 4:05 pm
News sentiment analysis
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POSITIVE IMPACT
FOXO Technologies shares rose 28% after its subsidiary announced an agreement with Atrio.
The agreement between FOXO's subsidiary and Atrio is a positive development that is likely to boost its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Marin Software shares rose 51% after the company reported HubSpot integration.
The HubSpot integration is a positive development for Marin Software, which is likely to boost its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Palisade Bio shares rose 124% due to an exclusive worldwide licensing agreement with Giiant Pharma.
The exclusive worldwide licensing agreement with Giiant Pharma is a significant positive development for Palisade Bio, which is likely to boost its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Akoustis Technologies shares dropped 24% after the company reported Q4 FY23 revenue growth of 60.2% YoY to $8.33 million, missing the consensus of $8.44 million.
The Q4 FY23 revenue miss is a negative development for Akoustis Technologies, which is likely to depress its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
AMC Entertainment shares dropped 25% after the company entered an equity distribution agreement for up to 40 million shares.
The equity distribution agreement for up to 40 million shares is a negative development for AMC Entertainment, which is likely to depress its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
EZGO Technologies shares dropped 76% after the company reported pricing of $10 million registered direct offering.
The pricing of the $10 million registered direct offering is a negative development for EZGO Technologies, which is likely to depress its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100