Dow Falls 50 Points; Walgreens Posts Downbeat Earnings
Portfolio Pulse from Lisa Levin
The Dow Jones index fell by more than 50 points, while the NASDAQ rose by 0.20%. Walgreens Boots Alliance Inc reported weaker-than-expected earnings for its fourth quarter, with adjusted EPS decreasing 18% to $0.67. Secoo Holding Limited, OpGen, Inc., and BSQUARE Corporation saw significant increases in their share prices, while RVL Pharmaceuticals plc, Soluna Holdings, Inc., and T2 Biosystems, Inc. experienced significant drops.
October 12, 2023 | 4:00 pm
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POSITIVE IMPACT
BSQUARE Corporation shares were also up, gaining 48% to $1.8311. Kontron America agreed to acquire BSQUARE for $1.90 per share in an all-cash transaction.
The announcement of Kontron America's acquisition of BSQUARE Corporation is likely to positively impact the latter's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shares of OpGen, Inc. got a boost, shooting 808% to $3.05 following two SEC filings from the precision medicine company.
The significant increase in OpGen, Inc.'s share price is likely to continue in the short term due to the recent positive news from the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Secoo Holding Limited shares shot up 513% to $1.9633 after gaining around 12% on Wednesday.
The significant increase in Secoo Holding Limited's share price is likely to continue in the short term due to the recent positive momentum.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
RVL Pharmaceuticals plc shares dropped 52% to $0.0753. The company said certain of its U.S. operating subsidiaries have agreed to effectuate a change of control transaction through prepackaged bankruptcy cases.
The announcement of prepackaged bankruptcy cases is likely to negatively impact RVL Pharmaceuticals plc's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shares of Soluna Holdings, Inc. were down 29% to $0.1950. Soluna reported a 1-for-25 reverse stock split.
The announcement of a 1-for-25 reverse stock split is likely to negatively impact Soluna Holdings, Inc.'s stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
T2 Biosystems, Inc. was down, falling 42% to $0.1813. The company announced a 1-for-100 reverse stock split, effective today.
The announcement of a 1-for-100 reverse stock split is likely to negatively impact T2 Biosystems, Inc.'s stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Walgreens Boots Alliance Inc reported weaker-than-expected earnings for its fourth quarter, with adjusted EPS decreasing 18% to $0.67.
The weaker-than-expected earnings report from Walgreens Boots Alliance Inc is likely to negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100