Market-Moving News for August 8th
Portfolio Pulse from Benzinga Newsdesk
Market-Moving News for August 8th: Eli Lilly (LLY) shares rise 13% on strong Q2 results and raised guidance. SolarEdge Technologies (SEDG) shares fall 17% on poor Q2 results and lowered Q3 guidance. Bumble (BMBL) shares plummet 42% on disappointing Q2 revenue and multiple downgrades.
August 08, 2024 | 12:34 pm
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NEGATIVE IMPACT
Bumble shares are trading lower after the company reported worse-than-expected Q2 revenue results. Multiple firms downgraded their respective ratings and price targets on the stock.
Bumble's disappointing Q2 revenue results and multiple downgrades from firms are strong negative indicators, likely driving the stock price down significantly in the short term.
CONFIDENCE 95
IMPORTANCE 95
RELEVANCE 100
NEGATIVE IMPACT
SolarEdge Technologies shares are trading lower after the company reported worse-than-expected Q2 adjusted EPS results and issued Q3 revenue guidance below estimates. Piper Sandler maintained a Neutral rating and lowered its price target from $29 to $25.
SolarEdge's worse-than-expected Q2 results and lowered Q3 guidance, along with a reduced price target from Piper Sandler, are likely to negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Eli Lilly shares are trading higher after the company reported better-than-expected Q2 financial results and raised its full-year guidance.
Eli Lilly's better-than-expected Q2 financial results and raised full-year guidance are strong positive indicators, likely driving the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100