Cal-Maine Foods, A10 Networks And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
Portfolio Pulse from Lisa Levin
Several stocks recorded losses in Wednesday's pre-market trading session. Lithium Americas Corp. (LAC) shares fell 28% after the company completed its reorganization into two independent publicly traded companies. Cal-Maine Foods, Inc. (CALM) shares dipped 12.4% following weaker-than-expected sales for its first quarter. A10 Networks, Inc. (ATEN) shares declined 11.7% after the company reported preliminary results for the third quarter. Other companies that saw a decline in shares include FREYR Battery (FREY), Enovix Corporation (ENVX), Canopy Growth Corporation (CGC), Fresenius Medical Care AG & Co. KGaA (FMS), B&G Foods, Inc (BGS), Honda Motor Co., Ltd. (HMC), ALX Oncology Holdings Inc. (ALXO), and Novartis AG (NVS).
October 04, 2023 | 10:08 am
News sentiment analysis
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NEGATIVE IMPACT
ALX Oncology Holdings Inc. shares fell 4.1% after the company released interim Phase 2 data from its ASPEN-06 trial of evorpacept in advanced HER2-positive gastric cancer.
The company's release of interim Phase 2 data has led to a decline in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
A10 Networks, Inc. shares declined 11.7% after the company reported preliminary results for the third quarter.
The company's preliminary results for the third quarter have led to a decline in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
B&G Foods, Inc shares declined 4.5% after Piper Sandler downgraded the company from Neutral to Underweight and lowered the price target from $14 to $8.
The company's downgrade by Piper Sandler and a lowered price target have negatively impacted its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Cal-Maine Foods, Inc. shares dipped 12.4% following weaker-than-expected sales for its first quarter.
The company's weaker-than-expected sales for its first quarter have negatively impacted its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Canopy Growth Corporation shares declined 4.9% after falling more than 7% on Tuesday.
The company's shares have continued to decline, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Enovix Corporation shares fell 5.5% after the company announced a strategic realignment of its Fab1 facility and said third quarter production fell short of guidance.
The company's announcement of a strategic realignment and lower-than-expected third quarter production has negatively impacted its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Fresenius Medical Care AG & Co. KGaA shares fell 4.5% after the company announced FDA clearance of Versi HD with GuideMe Software.
Despite the company's announcement of FDA clearance for its new software, its share price has fallen.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
FREYR Battery shares fell 5.9% in pre-market trading.
The company's shares have fallen in pre-market trading, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Honda Motor Co., Ltd. shares fell 4.2% in pre-market trading.
The company's shares have fallen in pre-market trading, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Lithium Americas Corp. shares fell 28% after the company completed its reorganization.
The reorganization of the company into two independent publicly traded companies has led to a significant drop in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Novartis AG shares fell 3.9% after the company announced it completed the spin-off of Sandoz unit.
The company's announcement of the completion of the Sandoz unit spin-off has negatively impacted its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100