Nasdaq Down Over 1%; US Retail Sales Top Expectations
Portfolio Pulse from Lisa Levin
US stocks traded lower with the Nasdaq Composite falling more than 1%. U.S. retail sales rose 0.7% month-over-month in September, beating estimates of a 0.3% increase. Energy shares climbed by 0.6% while information technology shares fell by 2.1%. SciSparc Ltd., Assembly Biosciences, Inc., and Olink Holding AB saw their shares rise significantly. Evelo Biosciences, Inc., NetScout Systems, Inc., and BIO-key International, Inc. saw their shares drop.
October 17, 2023 | 2:01 pm
News sentiment analysis
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NEGATIVE IMPACT
BIO-key International, Inc. shares fell 17% after the company filed for offering of units of up to $10 million.
The filing for offering of units has negatively impacted investor confidence in BIO-key International, leading to a drop in its share price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Evelo Biosciences, Inc. shares dropped 48% after the company released top-line results from its Phase 2 clinical study with EDP2939 in moderate psoriasis.
The release of top-line results from its Phase 2 clinical study has negatively impacted investor confidence in Evelo Biosciences, leading to a sharp drop in its share price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Shares of NetScout Systems, Inc. were down 22% after the company reported weak preliminary results for the second quarter and lowered its FY24 guidance.
The weak Q2 results and lowered FY24 guidance have negatively impacted investor confidence in NetScout Systems, leading to a drop in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shares of Assembly Biosciences, Inc. shot up 117% after the company and Gilead announced a 12-year partnership to advance the research and development of novel antiviral therapies.
The long-term partnership with Gilead for the development of novel antiviral therapies has significantly increased investor confidence in Assembly Biosciences, leading to a sharp rise in its share price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Olink Holding AB shares were up 66% after Thermo Fisher Scientific announced it will acquire the company.
The acquisition announcement by Thermo Fisher Scientific has significantly boosted investor confidence in Olink Holding AB, leading to a sharp rise in its share price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
SciSparc Ltd. shares shot up 139% after Aegis Capital Corp. acted as exclusive placement agent on a $5.0 million private placement for SciSparc.
The private placement led by Aegis Capital Corp. has significantly boosted investor confidence in SciSparc Ltd., leading to a sharp rise in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100