Market-Moving News for November 16th
Portfolio Pulse from ryanfaloona@benzinga.com
Apollomics Inc. (APLM) shares surged 127% after announcing the first approval of Vebreltinib for MET Exon 14 Skip Non-Small Cell Lung Cancer. Cisco Systems, Inc. (CSCO) shares fell 16% following a cut in FY24 guidance and Q2 adjusted EPS and revenue guidance below estimates. Alibaba Group Holding Limited (BABA) shares dropped 9% after reporting Q2 financial results.
November 16, 2023 | 1:45 pm
News sentiment analysis
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POSITIVE IMPACT
Apollomics Inc. shares skyrocketed after announcing the approval of their cancer drug, Vebreltinib.
The approval of Vebreltinib is a significant milestone for Apollomics, likely to boost investor confidence and drive short-term stock price appreciation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Alibaba's shares declined following the release of their Q2 financial results.
Investors may be reacting negatively to Alibaba's Q2 financial results, indicating potential concerns over growth or profitability that could pressure the stock in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Cisco's stock declined after the company provided lower than expected FY24 guidance and Q2 forecasts.
Downward revisions in guidance and earnings forecasts are typically met with negative market reactions, suggesting a potential short-term decline in Cisco's stock price.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100