Market-Moving News for July 24th
Portfolio Pulse from Benzinga Newsdesk
Market-Moving News for July 24th: Tesla (TSLA) shares drop 8.8% following mixed Q2 earnings and lower 2024 vehicle volume growth expectations. Hoth Therapeutics (HOTH) surges 95% after signing an agreement with LTS Therapy Systems for Alzheimer's treatment development. PROG Holdings (PRG) rises 14% on better-than-expected Q2 results and raised FY24 guidance.
July 24, 2024 | 12:34 pm
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NEGATIVE IMPACT
Tesla shares are trading lower by 8.8% following mixed Q2 earnings and the company's expectation of lower vehicle volume growth in 2024 compared to 2023.
The mixed Q2 earnings and the forecast of lower vehicle volume growth for 2024 are significant negative factors for Tesla, leading to a sharp decline in its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Hoth Therapeutics shares surge 95% after signing an agreement with LTS Therapy Systems to develop and manufacture the HT-ALZ oral film prototype for Alzheimer's disease.
The agreement with LTS Therapy Systems for the development of an Alzheimer's treatment is a major positive development for Hoth Therapeutics, leading to a significant increase in its stock price.
CONFIDENCE 100
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
PROG Holdings shares rise 14% after the company reported better-than-expected Q2 financial results and raised its FY24 guidance above estimates.
The better-than-expected Q2 financial results and the raised FY24 guidance are strong positive factors for PROG Holdings, leading to a notable increase in its stock price.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100