Crude Oil Rises Sharply; Citigroup Posts Upbeat Earnings
Portfolio Pulse from Lisa Levin
US stocks traded lower with the Nasdaq Composite falling over 1% on Friday. Energy shares climbed by 1.7% while information technology shares rose by just 0.1%. Citigroup Inc reported a 9% YoY increase in net revenue to $20.14 billion, beating the consensus of $19.32 billion. Sigma Additive Solutions, Comtech Telecommunications, and SunOpta saw their shares rise after positive news. Outset Medical, SMART Global Holdings, and Harmony Biosciences Holdings saw their shares drop due to negative news.
October 13, 2023 | 4:02 pm
News sentiment analysis
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NEGATIVE IMPACT
Outset Medical shares dropped 47% after the company announced preliminary revenue for the third quarter of $30.4 million, below the consensus estimate of $36.03 million.
Outset Medical's lower-than-expected preliminary revenue for the third quarter has led to a significant decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Citigroup reported a 9% YoY increase in net revenue to $20.14 billion, beating the consensus of $19.32 billion.
Citigroup's better-than-expected earnings report is likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Sigma Additive Solutions shares shot up 179% after the company announced the signing of a definitive agreement for the acquisition of NextTrip Holdings.
The announcement of Sigma Additive Solutions' acquisition of NextTrip Holdings has led to a significant increase in its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100