Crude Oil Rises 2%; Avalo Therapeutics Shares Spike Higher
Portfolio Pulse from Lisa Levin
US stocks traded mostly lower with the Nasdaq Composite falling over 100 points. Energy shares jumped by 2.4%. Oracle Corporation's shares fell around 12% after releasing first-quarter results. Tenon Medical, Avalo Therapeutics, and Cognyte Software shares rose significantly. Acelyrin, Sight Sciences, and Datasea shares dropped significantly. Oil traded up 2% while gold traded down 0.6%.

September 12, 2023 | 6:44 pm
News sentiment analysis
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NEGATIVE IMPACT
Datasea's shares fell 47% as the company reported pricing of $2.0 million underwritten public offering.
Datasea's shares fell significantly after the company reported pricing of $2.0 million underwritten public offering, indicating a negative market reaction to the news.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Oracle's shares fell around 12% after releasing first-quarter results.
Oracle's shares fell significantly after the company released its first-quarter results, indicating a negative market reaction to the earnings report.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Sight Sciences' shares were down 46% after the company issued third-quarter total revenue guidance below estimates and cut full-year 2023 revenue guidance below estimates.
Sight Sciences' shares fell significantly after the company issued third-quarter total revenue guidance below estimates and cut full-year 2023 revenue guidance below estimates, indicating a negative market reaction to the earnings guidance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Acelyrin's shares dropped 58% 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 fell significantly after the company announced topline results from Part B of a Phase 2b/3 trial, indicating a negative market reaction to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Avalo Therapeutics' shares shot up 39% after the company agreed to divest AVTX-800 series.
Avalo Therapeutics' shares rose significantly after the company agreed to divest AVTX-800 series, indicating a positive market reaction to the news.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Cognyte Software's shares were up, gaining 23% after the company reported better-than-expected second-quarter financial results and issued FY24 guidance above estimates.
Cognyte Software's shares rose significantly after the company reported better-than-expected second-quarter financial results and issued FY24 guidance above estimates, indicating a positive market reaction to the earnings report.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Tenon Medical's shares shot up 43% after the company announced it has withdrawn its proposed public offering of shares of its common stock.
Tenon Medical's shares rose significantly after the company announced it has withdrawn its proposed public offering, indicating a positive market reaction to the news.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100