Why Charles Schwab Shares Are Trading Lower By Over 7%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session
Portfolio Pulse from Avi Kapoor
Shares of The Charles Schwab Corporation (NYSE:SCHW) fell over 7% following their second-quarter results, which showed a decline in adjusted net income and EPS. Other stocks such as Yoshitsu Co., Ltd (NASDAQ:TKLF) and Silo Pharma, Inc. (NASDAQ:SILO) saw significant gains, while Cyngn Inc. (NASDAQ:CYN) and Autonomix Medical, Inc. (NASDAQ:AMIX) experienced notable declines.
July 16, 2024 | 5:06 pm
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POSITIVE IMPACT
Silo Pharma, Inc. shares climbed 95.4% to $2.12 after obtaining an exclusive global license to develop, manufacture, and commercialize its Alzheimer’s drug.
The acquisition of an exclusive global license for an Alzheimer's drug is a significant milestone, boosting investor confidence and driving the share price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Yoshitsu Co., Ltd shares jumped 109% to $0.6437 after reporting a year-over-year increase in FY24 financial results.
The significant year-over-year increase in financial results has positively impacted investor sentiment, leading to a substantial rise in the share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Autonomix Medical, Inc. shares declined 21.4% to $1.08 after a 130% jump on Monday following a licensing agreement.
The decline is likely due to profit-taking or market correction after the previous day's significant surge.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Cyngn Inc. shares fell 22.1% to $7.15 after a significant jump of 54% on Monday.
The sharp decline follows a significant surge, indicating potential profit-taking or market correction.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Charles Schwab's shares fell 7.5% to $69.42 after reporting a 2% Y/Y decline in adjusted net income and a 3% Y/Y decline in adjusted EPS, despite beating the consensus EPS estimate.
The decline in adjusted net income and EPS, despite beating the consensus estimate, indicates potential concerns about the company's financial health, leading to a significant drop in share price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100