Hasbro, Tutor Perini, Arm Holdings And Other Big Stocks Moving Higher On Friday
Portfolio Pulse from Avi Kapoor
U.S. stocks were mostly lower on Friday, with the Dow Jones index falling around 300 points. However, several stocks saw significant gains. Hasbro, Inc. (NASDAQ:HAS) rose 5.5% after an upgrade from B of A Securities. Disc Medicine, Inc. (NASDAQ:IRON) gained 15.6% following a $178 million underwritten offering. UroGen Pharma Ltd. (NASDAQ:URGN) rose 15.4% due to positive Phase 3 trial results. Adobe Inc. (NASDAQ:ADBE) surged 14.3% on strong earnings. Other notable gainers include Ocular Therapeutix, Inc. (NASDAQ:OCUL), VinFast Auto Ltd. (NASDAQ:VFS), Tutor Perini Corporation (NYSE:TPC), and Arm Holdings plc (NASDAQ:ARM).
June 14, 2024 | 2:29 pm
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POSITIVE IMPACT
Adobe shares surged 14.3% following better-than-expected second-quarter earnings and strong guidance.
Strong earnings and positive guidance are key drivers for stock price appreciation, making Adobe's short-term outlook very positive.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Arm Holdings shares gained 4.4% after it was announced that the company will join the Nasdaq-100 Index starting June 24, 2024.
Inclusion in the Nasdaq-100 Index is a positive development, likely increasing investor interest and driving the stock price higher.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Hasbro shares rose 5.5% after B of A Securities upgraded the stock from Neutral to Buy and raised its price target from $70 to $80.
The upgrade from B of A Securities and the increased price target are strong positive signals for investors, likely driving the stock price higher in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Disc Medicine shares gained 15.6% following a $178 million underwritten offering of 4.944 million shares at $36 per share.
The significant capital raise through the underwritten offering is a positive development, indicating strong investor interest and potential for growth.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Ocular Therapeutix shares rose 14.1% as the company highlighted AXPAXLI SOL-1 enrollment and plans for a repeat dosing study in wet AMD.
The progress in clinical trials and future study plans are positive indicators for the company's growth prospects, likely boosting the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Tutor Perini shares gained 9.9% after UBS analyst Steven Fisher upgraded the stock from Neutral to Buy and raised the price target from $14 to $27.
The upgrade from UBS and the increased price target are strong positive signals for investors, likely driving the stock price higher in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
UroGen Pharma shares rose 15.4% due to positive results from its Phase 3 ENVISION trial for UGN-102.
Positive clinical trial results are a strong catalyst for biotech stocks, likely driving UroGen Pharma's stock price higher in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
VinFast Auto shares climbed 9.9% as the company anticipates sustained growth for the next five years and approaching break-even point.
Positive growth outlook and nearing break-even point are encouraging signs for investors, likely driving the stock price higher.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 100