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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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
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