Nasdaq Gains 1%; US Adds 150,000 Jobs In October
Portfolio Pulse from Lisa Levin
US stocks traded higher following the release of the October jobs report. The NASDAQ rose 1%, the Dow traded up 0.50%, and the S&P 500 rose 0.85%. The US economy added 150,000 jobs in October, less than the market estimates of 180,000. Tenon Medical, Seres Therapeutics, and Cooper-Standard Holdings saw significant stock increases, while Fox Factory Holding, BILL Holdings, and Inseego Corp saw significant decreases.
November 03, 2023 | 2:02 pm
News sentiment analysis
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NEGATIVE IMPACT
BILL Holdings' stock dropped 33% after the company reported first-quarter results and lowered its FY24 revenue outlook.
The company's poor financial performance and lowered revenue outlook likely led to the decrease in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Fox Factory Holding's stock dropped 36% after the company reported downbeat third-quarter results and issued a weak fourth-quarter forecast.
The company's poor financial performance and weak forecast likely led to the decrease in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Inseego Corp's stock fell 26% after the company reported worse-than-expected third-quarter financial results.
The company's poor financial performance likely led to the decrease in stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Cooper-Standard Holdings' stock rose 39% following better-than-expected third-quarter results.
The company's strong financial performance likely led to the increase in stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Seres Therapeutics' stock rose 43% after posting a narrower-than-expected quarterly loss.
The company's better-than-expected financial performance likely led to the increase in stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Tenon Medical's stock rose 47% after the US FDA concluded a full Quality System Inspection Technique Level 2 Inspection at the company.
The successful FDA inspection is a positive signal for the company, which likely led to the increase in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100