Nasdaq Falls 100 Points; AT&T Posts Upbeat Earnings
Portfolio Pulse from Lisa Levin
U.S. stocks traded lower with the Nasdaq Composite falling around 100 points. AT&T Inc reported better-than-expected third-quarter financial results with operating revenues of $30.35 billion, up 1% year-over-year, beating the consensus of $28.69 billion. SAB Biotherapeutics, Spectral AI, and PTC Therapeutics saw their shares rise after positive news, while Nxu, Semtech Corporation, and Generation Bio Co. saw their shares drop.
October 19, 2023 | 6:37 pm
News sentiment analysis
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NEGATIVE IMPACT
Generation Bio Co. was down after TD Cowen downgraded the stock from Outperform to Market Perform.
The downgrade by TD Cowen could lead to a negative reaction in Generation Bio's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Nxu shares dropped after the company announced a $3 million public offering of common stock of 86 million shares at $0.035 per share.
The announcement of a public offering could lead to a negative reaction in Nxu's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Shares of Semtech Corporation were down after the company announced a $250 million private placement offering.
The announcement of a private placement offering could lead to a negative reaction in Semtech's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Shares of Spectral AI got a boost after the company announced that its DeepView SnapShot Wound Imaging System was marked for use in the U.K. and received Class 1 medical device classification with the FDA.
The approval for the use of Spectral AI's DeepView SnapShot Wound Imaging System in the U.K. and its FDA classification could lead to a positive reaction in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
PTC Therapeutics shares were up after the company announced an agreement with Royalty Pharma to monetize up to $1.5 billion of the Evrysdi Royalty Stream.
The agreement with Royalty Pharma could lead to a positive reaction in PTC Therapeutics' stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
SAB Biotherapeutics shares shot up after the company received Australian approval to commence the Phase 1 clinical trial of SAB-142.
The approval for the Phase 1 clinical trial of SAB-142 could lead to a positive reaction in SAB Biotherapeutics' stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
AT&T reported better-than-expected Q3 results, beating revenue consensus.
AT&T's better-than-expected earnings report could lead to a positive reaction in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100