Crude Oil Moves Higher; Kroger Earnings Beat Estimates
Portfolio Pulse from Lisa Levin
U.S. stocks traded mostly higher with the Nasdaq Composite edging higher. Energy shares jumped by 1.4% while real estate shares fell by 0.7%. The Kroger Co. reported better-than-expected quarterly earnings and reached an opioid settlement agreement. Biocept, Inc., Smith & Wesson Brands, Inc., and Lantronix, Inc. saw their shares rise after positive news. Grom Social Enterprises, Inc., Rent the Runway, Inc., and Arqit Quantum Inc. saw their shares drop after negative news.
September 08, 2023 | 6:57 pm
News sentiment analysis
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NEGATIVE IMPACT
Arqit Quantum shares fell after the company reported a $16.2 million registered direct offering.
The announcement of a registered direct offering can dilute existing shares, which could drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Grom Social shares dropped after the company reported pricing of $3.0 million public offering.
The pricing of a public offering can dilute existing shares, which could drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Rent the Runway shares were down after the company reported downbeat second-quarter sales and issued weak third-quarter forecast.
Rent the Runway's weak sales report and forecast are likely to decrease investor confidence and potentially drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Biocept shares shot up after the company announced a non-exclusive licensing agreement for CNSide with Plus Therapeutics.
The announcement of a non-exclusive licensing agreement is positive news for Biocept and could drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Kroger reported better-than-expected quarterly earnings and reached an opioid settlement agreement.
Kroger's better-than-expected earnings and opioid settlement agreement are likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Lantronix shares were up after reporting better-than-expected quarterly sales.
Lantronix's better-than-expected sales report is likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Smith & Wesson shares got a boost after the company reported a second-quarter earnings beat and issued strong guidance.
Smith & Wesson's strong earnings report and guidance are likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100