Saia, Annexon, Core Scientific And Other Big Stocks Moving Higher On Tuesday
Portfolio Pulse from Avi Kapoor
U.S. stocks were mixed on Tuesday, with the Dow Jones index gaining around 20 points. Several stocks saw significant gains, including Saia Inc, Annexon, Core Scientific, and others. Saia Inc reported an 18% increase in LTL shipments per workday in April, leading to a 12.3% rise in its shares. Annexon surged 40% after its Phase 3 trial met its primary endpoint. Core Scientific climbed 29% following the signing of 12-year contracts with CoreWeave. Other notable gainers included Terawulf, Zai Lab, Hillevax, and more.
June 04, 2024 | 2:09 pm
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POSITIVE IMPACT
Annexon Inc surged 40% to $6.44 after its Phase 3 trial of ANX005 met its primary endpoint.
Meeting the primary endpoint in a Phase 3 trial is a major milestone for Annexon, significantly boosting investor confidence and driving the stock price up.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Core Scientific shares climbed 29% to $6.28 after announcing 12-year contracts with CoreWeave.
The long-term contracts with CoreWeave provide revenue stability and growth prospects for Core Scientific, positively impacting its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Saia Inc shares rose 12.3% to $452.00 after reporting an 18% increase in LTL shipments per workday in April.
The significant increase in LTL shipments per workday is a strong positive indicator for Saia's operational performance, likely driving the stock price up.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Upstart Holdings rose 3.2% to $24.90 after Redburn Atlantic analyst Simon Clinch upgraded the stock from Sell to Neutral and raised the price target.
The analyst upgrade and increased price target likely improved investor sentiment, contributing to the stock's rise.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Terawulf Inc rose 12% to $2.30 after issuing a May 2024 production and operations update.
The production and operations update likely provided positive insights, boosting investor confidence and driving the stock price up.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80