Gold Rises Over 1%; Schlumberger Shares Fall After Q3 Results
Portfolio Pulse from Lisa Levin
U.S. stocks traded lower with the Nasdaq Composite falling over 1%. Schlumberger N.V. shares fell around 4% after the company released Q3 results, missing revenue consensus. Knight-Swift Transportation Holdings, Lipella Pharmaceuticals, and American Well Corporation shares rose after positive news. SolarEdge Technologies, Adial Pharmaceuticals, and Arcutis Biotherapeutics shares dropped due to negative updates.
October 20, 2023 | 4:00 pm
News sentiment analysis
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POSITIVE IMPACT
American Well Corporation shares were up, gaining 13% after the company and Leidos Holdings won a contract to provide a hybrid care technology platform for the U.S. Military Health System.
American Well's shares rose after the company won a significant contract, indicating a positive development for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Knight-Swift Transportation Holdings shares shot up 11% after the company reported better-than-expected Q3 financial results.
Knight-Swift's shares rose significantly after the company reported Q3 results that exceeded expectations, indicating strong performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shares of Lipella Pharmaceuticals got a boost, shooting 57% after the company announced FDA clearance of IND for LP-310 for oral lichen planus.
Lipella Pharmaceuticals' shares rose sharply after the company announced FDA clearance of IND for LP-310, indicating a positive development for the company.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Shares of Adial Pharmaceuticals were down 20% after the company announced a $4 million private placement priced at-the-market under Nasdaq rules.
Adial Pharmaceuticals' shares fell after the company announced a $4 million private placement at-the-market, which could dilute existing shareholders' equity.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Arcutis Biotherapeutics shares were down, falling 19% after the company priced $100 million public offering of 32.5 million common shares at $2.50 per share.
Arcutis Biotherapeutics' shares fell after the company priced a large public offering, which could dilute existing shareholders' equity.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
SolarEdge Technologies shares dropped 29% after the company issued preliminary Q3 revenue results below estimates and lowered its non-GAAP gross margin guidance.
SolarEdge's shares fell significantly after the company issued disappointing preliminary Q3 revenue results and lowered its gross margin guidance, indicating a negative outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Schlumberger shares fell around 4% after the company released Q3 results, missing revenue consensus but beating EPS consensus.
Schlumberger's Q3 results missed revenue consensus which led to a drop in its share price. However, it beat the EPS consensus which might mitigate the fall to some extent.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100