Macy's, Ascendis Pharma And 3 Stocks To Watch Heading Into Friday
Portfolio Pulse from Avi Kapoor
Key stocks to watch include Macy's, Ascendis Pharma, LGI Homes, Ericsson, and GFL Environmental. Macy's received an increased buyout offer, Ascendis Pharma signed a distribution agreement, LGI Homes reported home closings, Ericsson announced an impairment charge, and GFL Environmental declared a dividend.
July 05, 2024 | 3:01 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Ericsson will record a non-cash impairment charge of SEK 11.4 billion in Q2, primarily related to Vonage’s portfolio. Shares fell 0.2% to $6.18.
The significant impairment charge is a negative development, likely to weigh on investor sentiment and cause short-term price declines.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Pendopharm signed an exclusive distribution agreement with Ascendis Pharma for TransCon™ PTH in Canada. Ascendis Pharma shares fell 1.5% to $134.18.
While the distribution agreement is a positive development, the immediate market reaction was negative, leading to a short-term price decline.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
GFL Environmental declared a cash dividend of $0.014 per share for Q2. Shares gained 0.7% to $39.40 in after-hours trading.
The dividend declaration is a positive signal for investors, likely contributing to a modest short-term price increase.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
LGI Homes closed 571 homes in June and plans to release Q2 financial results on July 30. Shares gained 0.3% to $88.61 in after-hours trading.
The announcement of home closings and upcoming financial results is likely to maintain positive sentiment, supporting a slight price increase.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Arkhouse Management and Brigade Capital Management increased their offer to buy Macy’s to $24.80 per share, up from $24 per share. Macy’s shares gained 1.2% to $18.14 in after-hours trading.
The increased buyout offer is a positive signal for Macy's stock, likely boosting investor confidence and driving short-term price gains.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100