Dow Turns Lower; Tempest Therapeutics Shares Spike Higher
Portfolio Pulse from Lisa Levin
U.S. stocks traded mixed with the Dow Jones falling and NASDAQ and S&P 500 rising. Real estate shares surged while energy shares fell. Tempest Therapeutics, Phio Pharmaceuticals, and voxeljet AG saw significant increases in their shares. Silk Road Medical, E2open Parent Holdings, and Hyliion Holdings saw significant drops in their shares. Producer prices in the U.S. increased 0.5% month-over-month in September, above market expectations.
October 11, 2023 | 4:38 pm
News sentiment analysis
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POSITIVE IMPACT
Shares of Phio Pharmaceuticals shot up 59% after the company announced the poster presentation of two key preclinical studies of its INTASYL compound PH-894.
The announcement of the preclinical studies indicates progress in the company's research and development efforts, which is likely to boost investor confidence and drive up the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tempest Therapeutics shares shot up 1942% after releasing new data demonstrating superiority of TPST-1120 arm in a hepatocellular carcinoma study.
The positive data from the study is a significant development for Tempest Therapeutics, which is likely to attract investor interest and drive up the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
voxeljet AG shares were up 24% after the company announced it was selected for a $14.9 million contract to develop advanced manufacturing technologies.
The contract win is a positive development for voxeljet AG, indicating strong business performance and potential for future growth, which is likely to drive up the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Shares of E2open Parent Holdings were down 46% as the company posted downbeat results for its second quarter and named a new interim CEO.
The disappointing Q2 results and leadership change indicate potential instability in the company, which is likely to negatively impact investor confidence and drive down the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Hyliion Holdings was down 48% as the company said it is exploring strategic options for its powertrain business due to industry changes and the need for continued investment.
The announcement of strategic changes and potential need for continued investment indicates uncertainty in the company's future, which is likely to negatively impact investor confidence and drive down the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Silk Road Medical shares dropped 52% after the company announced preliminary third-quarter revenue results below estimates and issued FY23 revenue guidance below estimates.
The lower-than-expected revenue results and guidance indicate potential challenges in the company's performance, which is likely to negatively impact investor confidence and drive down the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100