Gold Edges Higher; Virco Manufacturing Shares Surge After Q2 Results
Portfolio Pulse from Lisa Levin
U.S. stocks traded higher with the Nasdaq Composite gaining around 80 points. Virco Mfg. Corporation's shares jumped around 12% after reporting better-than-expected Q2 earnings. NovaBay Pharmaceuticals, Crinetics Pharmaceuticals, and Avantax shares also surged. SigmaTron International, Tenon Medical, and Granite Ridge Resources shares dropped.
September 11, 2023 | 4:03 pm
News sentiment analysis
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NEGATIVE IMPACT
Granite Ridge Resources shares fell 11% after the company launched a secondary public offering of 7.1 million shares.
The company's decision to launch a secondary public offering led to a drop in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
SigmaTron International shares dropped 47% after the company released first-quarter earnings.
The company's Q1 earnings release led to a drop in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tenon Medical shares were down 36% after the company announced a proposed public offering of common stock.
The company's announcement of a proposed public offering led to a drop in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Avantax shares gained 28% after the company agreed to be acquired by Cetera Holdings for $26 per share in cash.
The company's decision to be acquired by Cetera Holdings led to a surge in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Crinetics Pharmaceuticals shares shot up 73% after its once-daily oral paltusotine achieved the primary and secondary endpoints in the Phase 3 PATHFNDR-1 study.
The company's positive Phase 3 study results led to a surge in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
NovaBay Pharmaceuticals shares shot up 32% after the company granted Biostem Technologies the right to commercialize amniotic tissue allograft.
The company's decision to grant commercialization rights to Biostem Technologies led to a surge in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Virco Mfg. reported better-than-expected Q2 earnings, leading to a 12% surge in its shares.
The company's strong Q2 earnings beat market expectations, leading to a surge in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100