Dow Turns Higher; Oracle Shares Tumble After Q1 Results
Portfolio Pulse from Lisa Levin
US stocks traded mixed with the Dow Jones turning higher and NASDAQ falling. Oracle Corporation's shares fell around 12% after releasing Q1 results. Tenon Medical, Avalo Therapeutics, and Cognyte Software saw their shares rise after various announcements, while Acelyrin, Sight Sciences, and Datasea saw their shares drop. Oil traded up 1.8% while gold traded down 0.5%.
September 12, 2023 | 4:10 pm
News sentiment analysis
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POSITIVE IMPACT
Avalo Therapeutics' shares rose 30% after the company agreed to divest AVTX-800 series.
Avalo Therapeutics' shares rose after the company agreed to divest AVTX-800 series, which investors may have seen as a positive move.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Cognyte Software's shares rose 20% after the company reported better-than-expected Q2 results and issued FY24 guidance above estimates.
Cognyte Software's shares rose after the company reported better-than-expected Q2 results and issued FY24 guidance above estimates, which investors may have seen as a positive sign.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tenon Medical's shares shot up 56% after the company announced it has withdrawn its proposed public offering of shares.
Tenon Medical's shares rose after the company withdrew its proposed public offering, which investors may have seen as a positive move.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Datasea's shares fell 48% as the company reported pricing of $2.0 million underwritten public offering.
Datasea's shares fell after the company reported pricing of $2.0 million underwritten public offering, which investors may have seen as a negative sign.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Oracle's shares fell around 12% after releasing Q1 results.
Oracle's shares fell due to their Q1 results not meeting market expectations, despite a year-over-year increase in revenue.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Sight Sciences' shares were down 47% after the company issued Q3 total revenue guidance below estimates and cut full-year 2023 revenue guidance below estimates.
Sight Sciences' shares dropped after the company issued negative Q3 and full-year 2023 revenue guidance, which investors may have seen as a negative sign.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Acelyrin's shares dropped 61% after the company announced topline results from Part B of a Phase 2b/3 trial evaluating izokibep for moderate-to-severe Hidradenitis Suppurativa (HS).
Acelyrin's shares dropped after the company announced topline results from a trial, which investors may have seen as a negative sign.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100