US Stocks Open Higher; Costco Posts Upbeat Earnings
Portfolio Pulse from Lisa Levin
US stocks opened higher with the Nasdaq Composite gaining around 50 points. Costco Wholesale Corporation reported better-than-expected earnings and sales results for its fourth quarter. ShiftPixy, Inc., SciSparc Ltd., and Biohaven Ltd. saw significant stock price increases. mCloud Technologies Corp., Sharps Technology, Inc., and Know Labs, Inc. experienced stock price drops.
September 27, 2023 | 1:45 pm
News sentiment analysis
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POSITIVE IMPACT
Biohaven Ltd. shares were up, gaining 42%.
Biohaven's stock price increased significantly, although the news does not provide a specific reason for this.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Costco reported better-than-expected earnings and sales results for its fourth quarter.
Costco's better-than-expected earnings and sales results are likely to have a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
ShiftPixy, Inc. shares shot up 207% after announcing the effective date for its reverse stock split.
The announcement of the effective date for ShiftPixy's reverse stock split led to a significant increase in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Shares of SciSparc Ltd. got a boost, shooting 55% up after reporting its previously announced 1-for-26 reverse share split is expected to be implemented after market close today.
The expected implementation of SciSparc's reverse share split led to a significant increase in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Know Labs, Inc. was down, falling 32% after the company announced pricing of a $7 million public offering of common stock.
Know Labs' stock price decreased significantly after the company announced the pricing of a $7 million public offering of common stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
mCloud Technologies Corp. shares dropped 50% after the company said it would not meet the listing requirements of the Nasdaq Stock Market LLC.
mCloud's announcement that it would not meet Nasdaq's listing requirements led to a significant decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shares of Sharps Technology, Inc. were down 32% after the company reported a $5.6 million registered direct and private placement priced at the market under Nasdaq rules.
Sharps Technology's stock price decreased significantly after the company reported a $5.6 million registered direct and private placement.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100