KE Holdings, KeyCorp, Revance Therapeutics, Starbucks And Other Big Stocks Moving Higher On Monday
Portfolio Pulse from Avi Kapoor
U.S. stocks were mostly lower on Monday, with the Dow Jones index falling around 150 points. However, several stocks saw significant gains. KE Holdings (NYSE:BEKE) rose 6.9% after reporting better-than-expected Q2 results and increasing its repurchase authorization. Revance Therapeutics (NASDAQ:RVNC) surged 85.4% following a merger agreement with Crown Laboratories. KeyCorp (NYSE:KEY) shares jumped 13% after Scotiabank acquired a 14.9% stake. Other notable gainers included Montauk Renewables (NASDAQ:MNTK), New Fortress Energy (NASDAQ:NFE), and Starbucks (NASDAQ:SBUX).
August 12, 2024 | 2:09 pm
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POSITIVE IMPACT
KE Holdings shares rose 6.9% to $15.00 after reporting better-than-expected Q2 results and increasing its repurchase authorization.
The better-than-expected Q2 results and increased repurchase authorization are strong positive signals for investors, likely driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
KeyCorp shares jumped 13% to $16.51 after Scotiabank acquired a 14.9% stake in the company.
Scotiabank's acquisition of a significant stake in KeyCorp is a strong vote of confidence, likely driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Montauk Renewables climbed 13% to $4.84 despite reporting worse-than-expected Q2 results last week.
The stock's rise despite poor Q2 results suggests other positive factors at play, potentially driving the price up in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
New Fortress Energy rose 12.2% to $14.64 after Stifel analyst maintained a Buy rating but lowered the price target.
The maintained Buy rating from Stifel analyst, despite a lowered price target, is a positive signal, likely driving the stock price up in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Revance Therapeutics surged 85.4% to $6.54 after entering a merger agreement with Crown Laboratories.
The merger agreement with Crown Laboratories is a significant development, likely to drive the stock price up substantially in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Starbucks gained 3.5% to $77.69 following a report suggesting that activist investor Starboard Value has a stake in the company.
The involvement of activist investor Starboard Value is a positive development, likely driving the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80