Market-Moving News for July 23rd
Portfolio Pulse from Benzinga Newsdesk
Market-Moving News for July 23rd: UPS reports Q2 2024 earnings miss, Solventum shares rise on Trian stake report, and Mammoth Energy Services surges after subsidiary's settlement agreement.
July 23, 2024 | 11:56 am
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POSITIVE IMPACT
Solventum shares are trading higher following a report suggesting Trian has built a stake in the company.
The news of Trian building a stake in Solventum is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Mammoth Energy Services shares are trading higher after its subsidiary, Cobra Acquisitions, entered into a release and settlement agreement with the Puerto Rico Electric Power Authority.
The settlement agreement is a positive development for Mammoth Energy Services, likely leading to a significant short-term increase in the stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
United Parcel Service (UPS) reported Q2 2024 adjusted EPS of $1.79, missing the $1.99 estimate. Sales were $21.820B, below the $22.183B estimate.
UPS's earnings and sales both missed estimates, which is likely to negatively impact the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100