Nasdaq Rises Over 100 Points; Accenture Shares Fall After Q4 Results
Portfolio Pulse from Lisa Levin
U.S. stocks traded higher with the Dow Jones gaining over 100 points and the NASDAQ rising 0.95%. Accenture's shares fell more than 4% after reporting mixed Q4 results and weak FY24 adjusted EPS guidance. Bionomics, Baudax Bio, and Chico's FAS saw their shares rise significantly due to positive trial results, FDA designation, and acquisition news respectively. Ascent Solar Technologies, Brainstorm Cell Therapeutics, and Renalytix saw their shares drop due to public offering pricing, negative FDA Advisory Committee vote, and weak sales and guidance respectively.
September 28, 2023 | 6:30 pm
News sentiment analysis
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NEGATIVE IMPACT
Accenture's shares fell after reporting mixed Q4 results and weak FY24 adjusted EPS guidance.
Accenture's weaker than expected guidance for FY24 and mixed Q4 results could negatively impact investor sentiment and drive the stock price down in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ascent Solar Technologies' shares dropped after the company announced pricing of a public offering of units.
Public offering pricing can dilute existing shares, often leading to a short-term decrease in the stock price, as seen with Ascent Solar Technologies.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Brainstorm Cell Therapeutics' shares were down after the FDA Advisory Committee voted that NurOwn did not demonstrate substantial evidence of effectiveness.
Negative regulatory decisions, like the FDA Advisory Committee's vote against Brainstorm Cell Therapeutics' NurOwn, can lead to a short-term decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Renalytix's shares fell after the company announced weak FY23 sales and issued FY24 guidance.
Weak sales and guidance can negatively impact investor sentiment, leading to a short-term decrease in the stock price, as seen with Renalytix.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Bionomics' shares shot up after announcing positive trial results.
Positive trial results are a strong positive catalyst for biotech companies like Bionomics, likely driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Baudax Bio's shares got a boost after the company was granted orphan drug designation by the FDA.
FDA's orphan drug designation is a positive development for Baudax Bio, likely leading to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Chico's FAS shares rose following the announcement of its acquisition by Sycamore Partners.
Acquisition news typically leads to a short-term increase in the stock price of the company being acquired, as is the case with Chico's FAS.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100