Dow Falls 75 Points; US Small Business Optimism Drops In August
Portfolio Pulse from Lisa Levin
US stocks traded lower with the Dow Jones falling around 75 points. The NFIB Small Business Optimism Index fell to 91.3 in August from 91.9 in the previous month. Tenon Medical, Avalo Therapeutics, and Aurora Cannabis saw their shares rise, while Acelyrin, Sight Sciences, and Spectral AI saw their shares drop. Oil traded up 1.3% while gold traded down 0.6%.
September 12, 2023 | 1:59 pm
News sentiment analysis
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NEGATIVE IMPACT
Spectral AI shares were down, falling 44% after the company commenced trading on the Nasdaq.
The commencement of trading on the Nasdaq could have led to an initial sell-off, leading to the drop in share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Sight Sciences shares were down 43% after the company issued revenue guidance below estimates.
The lower revenue guidance could have disappointed investors, leading to the drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Acelyrin shares dropped 62% after the company announced topline results from a trial.
The announcement of the topline results from the trial could have disappointed investors, leading to the drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Aurora Cannabis shares were up, gaining 24%.
The news does not provide a specific reason for the increase in Aurora Cannabis' share price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Avalo Therapeutics shares shot up 50% after the company agreed to divest AVTX-800 series.
The divestment of the AVTX-800 series could be seen as a positive move by investors, leading to the increase in share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Tenon Medical shares shot up 95% after the company announced it has withdrawn its proposed public offering of shares.
The withdrawal of the proposed public offering could be seen as a positive sign by investors, leading to the increase in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100