REX American Resources Reports Upbeat Earnings, Joins Avalo Therapeutics, RH And Other Big Stocks Moving Higher On Thursday
Portfolio Pulse from Avi Kapoor
REX American Resources Corporation (NYSE:REX) reported quarterly GAAP earnings of $1.16 per share, surpassing estimates of 68 cents, causing its shares to jump 23.2% to $54.15. Other stocks also saw significant gains, including Avalo Therapeutics, Inc. (NASDAQ:AVTX) with a 430% increase after acquiring a Phase 2-ready anti-IL-1β mAb and announcing a private placement financing of up to $185 million. Various companies across different sectors recorded gains in their stock prices following positive earnings reports, acquisitions, and analyst upgrades.
March 28, 2024 | 3:00 pm
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POSITIVE IMPACT
Avalo Therapeutics shares surged 430% after announcing the acquisition of a Phase 2-ready anti-IL-1β mAb and a private placement financing of up to $185 million.
The acquisition and subsequent financing announcement significantly impacted investor sentiment, driving a massive increase in AVTX's stock price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
POSITIVE IMPACT
REX American Resources reported higher-than-expected quarterly earnings, leading to a 23.2% increase in its stock price.
The significant beat on earnings expectations directly contributed to the sharp increase in REX's stock price, reflecting investor optimism.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100