Smucker, FuelCell Energy, Granite Ridge Resources And Other Big Stocks Moving Lower On Monday
Portfolio Pulse from Lisa Levin
Several US stocks recorded losses on Monday despite the overall market trading higher. Notable decliners include IHS Holding Limited, Granite Ridge Resources, Puyi Inc., Butterfly Network, Madrigal Pharmaceuticals, FuelCell Energy, Virgin Galactic Holdings, Marathon Digital Holdings, The J. M. Smucker Company, SmartRent, Pharvaris N.V., Vertical Aerospace, RTX Corporation, and VinFast Auto Ltd.
September 11, 2023 | 2:22 pm
News sentiment analysis
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NEGATIVE IMPACT
FuelCell Energy fell 8.6% to $1.3150 after reporting a Q3 FY23 revenue decline of 41% YoY.
The significant YoY revenue decline likely led to the drop in FCEL's share price, indicating a negative short-term impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Granite Ridge Resources fell 11% to $6.67 after launching a secondary public offering of 7.1 million shares.
The secondary public offering likely led to the drop in GRNT's share price, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
IHS Holding Limited shares fell 15.7% to $5.01.
The significant drop in IHS's share price indicates a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The J. M. Smucker Company declined 7.9% to $130.39 after announcing it will acquire Hostess Brands.
The announcement of the acquisition likely led to the drop in SJM's share price, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100