Dow Tumbles 200 Points; Darden Restaurants Posts Upbeat Profit
Portfolio Pulse from Lisa Levin
US stocks traded lower with the Dow Jones falling around 200 points. Darden Restaurants Inc reported better-than-expected earnings for its first quarter with sales growth of 11.6% YoY to $2.73 billion. Murphy Canyon Acquisition Corp. shares shot up 39% after stockholder approval of the proposed combination with Conduit Pharmaceuticals. Cisco Systems agreed to acquire Splunk for $157 per share in cash. Travere Therapeutics shares dropped 41% after announcing topline two-year confirmatory secondary endpoint results from its Phase 3 PROTECT Study. Seelos Therapeutics was down 38% after announcing a $4.5 million registered direct offering of common stock and warrants to purchase common stock.
September 21, 2023 | 6:30 pm
News sentiment analysis
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NEGATIVE IMPACT
Seelos Therapeutics was down 38% after announcing a $4.5 million registered direct offering of common stock and warrants to purchase common stock.
The announcement of a $4.5 million registered direct offering of common stock and warrants to purchase common stock is likely to have a negative impact on Seelos Therapeutics' stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Travere Therapeutics shares dropped 41% after announcing topline two-year confirmatory secondary endpoint results from its Phase 3 PROTECT Study.
The announcement of the topline two-year confirmatory secondary endpoint results from its Phase 3 PROTECT Study is likely to have a negative impact on Travere Therapeutics' stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Darden Restaurants Inc reported better-than-expected earnings for its first quarter with sales growth of 11.6% YoY to $2.73 billion.
The better-than-expected earnings report is likely to have a positive impact on Darden Restaurants' stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Murphy Canyon Acquisition Corp. shares shot up 39% after stockholder approval of the proposed combination with Conduit Pharmaceuticals.
The stockholder approval of the proposed combination with Conduit Pharmaceuticals is likely to have a positive impact on Murphy Canyon Acquisition Corp.'s stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Cisco Systems agreed to acquire Splunk for $157 per share in cash.
The acquisition agreement with Cisco Systems is likely to have a positive impact on Splunk's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100