Crude Oil Down Over 2%; General Motors Posts Upbeat Earnings
Portfolio Pulse from Lisa Levin
General Motors (GM) reported better-than-expected Q3 results with sales growth of 5.4% YoY to $44.13 billion, beating the analyst consensus estimate of $43.68 billion. InMed Pharmaceuticals (INM), Ascent Solar Technologies (ASTI), and LianBio (LIAN) saw their shares rise after positive news. However, TrueBlue (TBI), TransUnion (TRU), and Markforged Holding Corporation (MKFG) shares dropped due to weaker-than-expected Q3 results and lowered guidance.
October 24, 2023 | 4:59 pm
News sentiment analysis
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NEGATIVE IMPACT
Markforged Holding Corporation shares fell as the company sees preliminary Q3 revenue of $20 million and projects 2023 revenue below the low end of prior range.
MKFG's lower-than-expected Q3 revenue and reduced 2023 revenue projection could lead to a negative short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
TrueBlue shares dropped as the company posted weaker-than-expected Q3 results.
TBI's weaker-than-expected Q3 results could lead to a negative short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
TransUnion shares were down after the company reported worse-than-expected Q3 results and lowered FY23 guidance.
TRU's worse-than-expected Q3 results and lowered FY23 guidance could lead to a negative short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ascent Solar Technologies shares rose after the company received encouragement from the U.S. Department of Energy for a project.
The encouragement from the U.S. Department of Energy for a project could lead to a positive short-term impact on ASTI's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
General Motors reported better-than-expected Q3 results, beating analyst consensus estimates.
GM's better-than-expected Q3 results could lead to a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
InMed Pharmaceuticals shares rose after the company announced a lead Alzheimer's drug candidate.
The announcement of a lead Alzheimer's drug candidate could lead to a positive short-term impact on INM's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
LianBio shares rose after the company announced an agreement with Bristol Myers Squibb for mavacamten in Asian markets.
The announcement of an agreement with Bristol Myers Squibb for mavacamten in Asian markets could lead to a positive short-term impact on LIAN's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100