Crude Oil Moves Higher; POINT Biopharma Global Shares Jump
Portfolio Pulse from Lisa Levin
U.S. stocks fell with the S&P 500 dropping around 1.5% on Tuesday. Job openings increased by 690,000 to 9.61 million in August. Vericity, Inc. (VERY) shares rose 86% after iA Financial Group announced its acquisition. POINT Biopharma Global Inc. (PNT) shares rose 85% after Eli Lilly And Co (LLY) agreed to acquire it. ALX Oncology Holdings Inc. (ALXO) shares rose 50% after releasing interim Phase 2 data. SmileDirectClub, Inc. (SDC) shares dropped 41% after receiving a delisting notice from Nasdaq. Ocean Biomedical, Inc. (OCEA) shares fell 28% after announcing its cancer-targeting immunotherapy antibody candidate results. WeWork Inc. (WE) shares fell 23% after opting not to make aggregate interest payments.
October 03, 2023 | 6:36 pm
News sentiment analysis
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NEGATIVE IMPACT
Ocean Biomedical's shares fell 28% after announcing its cancer-targeting immunotherapy antibody candidate results.
Negative or less-than-expected clinical trial results often lead to a drop in the share price of the company conducting the trial, as seen with Ocean Biomedical.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
SmileDirectClub's shares dropped 41% after receiving a delisting notice from Nasdaq.
Receiving a delisting notice is typically negative news for a company and leads to a drop in its share price, as seen with SmileDirectClub.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
WeWork's shares fell 23% after opting not to make aggregate interest payments.
Not making scheduled interest payments is typically negative news for a company and leads to a drop in its share price, as seen with WeWork.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
ALX Oncology's shares rose 50% after releasing positive interim Phase 2 data.
Positive clinical trial results often lead to a rise in the share price of the company conducting the trial, as seen with ALX Oncology.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
POINT Biopharma's shares rose 85% after Eli Lilly agreed to acquire it.
Acquisitions typically lead to a rise in the share price of the company being acquired, as seen with POINT Biopharma.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Vericity's shares rose 86% after iA Financial Group announced its acquisition.
Acquisitions typically lead to a rise in the share price of the company being acquired, as seen with Vericity.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100