Market-Moving News for July 17th
Portfolio Pulse from Benzinga Newsdesk
Market-Moving News for July 17th highlights significant stock movements for Aehr Test Systems (AEHR), Longeveron (LGVN), and GitLab (GTLB). AEHR shares surged 18% following strong Q4 results and positive FY25 revenue guidance. LGVN shares jumped 38% after the FDA granted Fast Track designation to its Alzheimer's treatment. GTLB shares rose 16% amid reports of a potential sale.
July 17, 2024 | 12:10 pm
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Aehr Test Systems shares surged 18% after reporting better-than-expected Q4 financial results and issuing FY25 revenue guidance above estimates. The company also announced a stock purchase agreement and $12.7 million in orders for its FOX WaferPak full wafer Contractors.
The strong Q4 results and positive FY25 revenue guidance are likely to boost investor confidence. Additionally, the new orders and stock purchase agreement further strengthen the company's outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
GitLab shares rose 16% following a report suggesting the company is exploring a sale.
The news of a potential sale is likely to drive up GitLab's stock price as investors anticipate a possible acquisition premium.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Longeveron shares jumped 38% after the FDA granted Fast Track designation to Lomecel-B for the treatment of mild Alzheimer's Disease.
The FDA Fast Track designation is a significant milestone for Longeveron, potentially accelerating the development and approval process for Lomecel-B, which is likely to attract investor interest.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100