S&P 500 Gains 1%; MIRA Pharmaceuticals Shares Spike Higher
Portfolio Pulse from Avi Kapoor
U.S. stocks traded higher with the NASDAQ Composite gaining around 300 points. The S&P 500 rose by 1.09%, and the Dow increased by 0.19%. Information technology shares jumped by 1.7%, while energy shares fell by 0.2%. Verizon shares fell 6% after missing sales estimates. MIRA Pharmaceuticals shares surged 368% on positive preclinical study results. Tellurian shares rose 66% on acquisition news. Serve Robotics shares increased 33% after Nvidia disclosed a stake. CrowdStrike shares dropped 14% due to downgrades and a major outage. Ryanair shares fell 16% on lower profits. Savers Value Village shares declined 15% following a downgrade.

July 22, 2024 | 6:33 pm
News sentiment analysis
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NEGATIVE IMPACT
CrowdStrike shares dropped 14% after downgrades from Guggenheim and BTIG, and a major outage impacting businesses.
The downgrades and the major outage have negatively impacted investor sentiment, leading to a sharp decline in CrowdStrike's share price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Ryanair shares fell 16% after reporting a 46% drop in profits for the three months to June 30.
The significant drop in profits has led to a negative market reaction, resulting in a sharp decline in Ryanair's share price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Savers Value Village shares declined 15% after JP Morgan downgraded the stock from Overweight to Neutral and lowered its price target.
The downgrade and lowered price target by JP Morgan have negatively impacted investor sentiment, leading to a decline in the share price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Verizon shares fell 6% after reporting fiscal Q2 results that missed sales estimates but met EPS expectations.
Verizon's slight miss on sales estimates and the market's reaction indicate a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
MIRA Pharmaceuticals shares surged 368% after announcing positive preclinical study results for its novel oral ketamine analog, Ketamir-2.
The significant increase in share price is driven by positive preclinical results, indicating strong investor confidence in the company's future prospects.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Serve Robotics shares increased 33% after Nvidia disclosed a stake in the company.
Nvidia's investment in Serve Robotics has boosted investor confidence, leading to a significant rise in the share price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tellurian shares rose 66% after announcing it will be acquired by Woodside Energy for approximately $900 million.
The acquisition news has led to a significant increase in Tellurian's share price, reflecting positive market sentiment.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100