Nasdaq Gains 100 Points; Coca-Cola Earnings Top Expectations
Portfolio Pulse from Lisa Levin
US stocks traded higher with the Dow Jones index gaining over 200 points and NASDAQ rising 0.78%. Coca-Cola (KO) reported better-than-expected Q3 results and raised its full-year guidance. InMed Pharmaceuticals (INM), Agilysys (AGYS), and LianBio (LIAN) saw significant stock increases. TrueBlue (TBI), TransUnion (TRU), and Markforged Holding (MKFG) experienced stock decreases due to weaker-than-expected Q3 results and lowered guidance.
October 24, 2023 | 6:34 pm
News sentiment analysis
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POSITIVE IMPACT
Agilysys shares got a boost after reporting second-quarter results.
Agilysys' positive Q2 results are likely to have a positive impact on its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
InMed Pharmaceuticals shares shot up after the company announced it selected a lead Alzheimer's drug candidate.
InMed Pharmaceuticals' announcement of a lead Alzheimer's drug candidate is a positive development, which is likely to boost its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Coca-Cola reported better-than-expected Q3 results and raised its full-year guidance.
Coca-Cola's better-than-expected Q3 results and raised full-year guidance indicate strong performance, which is likely to positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
LianBio shares were up after the company announced it entered into an agreement with Bristol Myers Squibb for mavacamten in China and other Asian markets.
LianBio's new agreement with Bristol Myers Squibb is a positive development, which is likely to boost its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Markforged Holding was down, falling 28% to $0.7726. The company sees preliminary Q3 revenue of $20 million and projects 2023 revenue of $90 million to $95 million, which is below the low end of prior range.
Markforged's lower projected 2023 revenue is likely to negatively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
TrueBlue shares dropped as the company posted weaker-than-expected results for its third quarter.
TrueBlue's weaker-than-expected Q3 results are likely to negatively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Shares of TransUnion were down after the company reported worse-than-expected third-quarter financial results and lowered FY23 guidance.
TransUnion's worse-than-expected Q3 results and lowered FY23 guidance are likely to negatively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100