Crude Oil Moves Lower; Bank of America Profit Beats Expectations
Portfolio Pulse from Lisa Levin
Bank of America Corp reported better-than-expected earnings for its third quarter, with EPS of $0.90, compared to $0.81 in the year-ago period, beating the consensus of $0.81. Revenue increased 3% year-over-year to $25.32 billion, beating the consensus of $25.14 billion. SciSparc Ltd. shares shot up 122% after Aegis Capital Corp. acted as exclusive placement agent on a $5.0 million private placement for SciSparc. Shares of Assembly Biosciences, Inc. got a boost after the company and Gilead announced a 12-year partnership. Olink Holding AB shares were also up after Thermo Fisher Scientific announced it will acquire the company. Evelo Biosciences, Inc. shares dropped 56% after releasing top-line results from its Phase 2 clinical study. Shares of NetScout Systems, Inc. were down after the company reported weak preliminary results for the second quarter and lowered its FY24 guidance. Monte Rosa Therapeutics, Inc. was down after announcing interim data from the Phase 1 dose escalation part of its ongoing phase 1/2 study.
October 17, 2023 | 6:31 pm
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POSITIVE IMPACT
Shares of Assembly Biosciences, Inc. got a boost after the company and Gilead announced a 12-year partnership.
The partnership with Gilead is likely to have a positive impact on Assembly Biosciences' stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Bank of America reported better-than-expected earnings for its third quarter, beating the consensus.
The better-than-expected earnings report is likely to have a positive impact on Bank of America's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Olink Holding AB shares were up after Thermo Fisher Scientific announced it will acquire the company.
The acquisition announcement is likely to have a positive impact on Olink Holding's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
SciSparc Ltd. shares shot up 122% after Aegis Capital Corp. acted as exclusive placement agent on a $5.0 million private placement for SciSparc.
The private placement is likely to have a positive impact on SciSparc's stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Evelo Biosciences, Inc. shares dropped 56% after releasing top-line results from its Phase 2 clinical study.
The top-line results from its Phase 2 clinical study are likely to have a negative impact on Evelo Biosciences' stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Monte Rosa Therapeutics, Inc. was down after announcing interim data from the Phase 1 dose escalation part of its ongoing phase 1/2 study.
The interim data from the Phase 1 dose escalation part of its ongoing phase 1/2 study is likely to have a negative impact on Monte Rosa Therapeutics' stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Shares of NetScout Systems, Inc. were down after the company reported weak preliminary results for the second quarter and lowered its FY24 guidance.
The weak preliminary results for the second quarter and lowered FY24 guidance are likely to have a negative impact on NetScout Systems' stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100