Market-Moving News for October 3rd
Portfolio Pulse from Benzinga Newsdesk
Levi Strauss & Co shares fell 12% due to disappointing Q3 sales and lower FY24 EPS guidance. Theriva Biologics shares surged 61% after a positive DSMC review for its SYN-004 trial. Nvidia shares rose 2% as CEO Jensen Huang highlighted strong demand for the next-gen Blackwell GPU platform.
October 03, 2024 | 12:13 pm
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NEGATIVE IMPACT
Levi Strauss & Co shares dropped 12% after reporting worse-than-expected Q3 sales and issuing FY24 EPS guidance below estimates. The company is reviewing its Dockers brand for potential sale or strategic transactions.
The significant drop in LEVI's stock price is due to disappointing Q3 sales and lower-than-expected FY24 EPS guidance. The strategic review of the Dockers brand adds uncertainty.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Nvidia shares rose 2% as CEO Jensen Huang reported strong demand for the next-gen Blackwell GPU platform.
The announcement of strong demand for Nvidia's next-gen GPU platform suggests potential revenue growth, positively impacting the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Theriva Biologics shares surged 61% after a positive DSMC review for its SYN-004 trial, allowing the study to proceed to the next cohort.
The positive DSMC review for the SYN-004 trial is a significant milestone, boosting investor confidence and driving the stock price up.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100