Costco, Scholastic And 3 Stocks To Watch Heading Into Friday
Portfolio Pulse from Avi Kapoor
Costco reported strong earnings but missed sales expectations, causing a slight drop in share price. Scholastic exceeded earnings and sales estimates, leading to a share price increase. enVVeno Medical announced a public offering, resulting in a significant share price drop. Travere Therapeutics paused a study, causing a share price decline.
September 27, 2024 | 7:17 am
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NEGATIVE IMPACT
Costco reported better-than-expected earnings but missed sales estimates, leading to a 1.4% drop in after-hours trading.
Costco's earnings beat expectations, but the sales miss led to a negative market reaction, causing a 1.4% drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
enVVeno Medical announced a proposed public offering, causing a 15.6% drop in after-hours trading.
The announcement of a public offering typically dilutes existing shares, leading to a significant drop in enVVeno Medical's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEGATIVE IMPACT
Travere Therapeutics paused enrollment in a Phase 3 study, leading to a 5.3% drop in after-hours trading.
The pause in the Phase 3 study raised concerns about the drug's development, causing a decline in Travere Therapeutics' stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Scholastic reported a smaller-than-expected loss and beat sales estimates, resulting in a 6.5% increase in after-hours trading.
Scholastic's better-than-expected financial results led to a positive market reaction, with shares rising 6.5%.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100