AngioDynamics, Ingevity, Levi Strauss And Other Big Stocks Moving Lower On Thursday
Portfolio Pulse from Avi Kapoor
Several US-listed stocks experienced significant declines on Thursday, including AngioDynamics, Ingevity, Levi Strauss, and others. AngioDynamics reported a smaller-than-expected loss but still saw a 15.6% drop in share price. Ingevity's CEO departure led to a 12.6% decline. Levi Strauss reported disappointing sales and issued lower guidance, resulting in a 9.1% drop. Other stocks like Hims & Hers Health, Joby Aviation, and several US-listed Chinese stocks also saw declines.
October 03, 2024 | 2:02 pm
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AngioDynamics reported a smaller-than-expected loss but shares fell 15.6% due to overall market sentiment and lower-than-expected sales.
AngioDynamics reported a loss smaller than expected, but the sales miss and overall market downturn led to a significant drop in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Bilibili shares fell 8.2% as US-listed Chinese stocks pulled back from recent gains following a stimulus package announcement.
The decline in Bilibili shares is part of a broader pullback in US-listed Chinese stocks after recent gains, influenced by macroeconomic factors.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Hims & Hers Health shares fell 11.1%, possibly in sympathy with Eli Lilly after the FDA announced the end of a weight-loss drug shortage.
The decline in Hims & Hers Health shares may be related to market reactions to Eli Lilly's announcement, affecting sentiment in the health sector.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Joby Aviation shares dipped 8.8% despite Toyota's $500 million investment, possibly due to broader market trends.
Despite positive news of Toyota's investment, broader market declines may have overshadowed the impact, leading to a drop in share price.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
NEGATIVE IMPACT
Levi Strauss shares fell 9.1% after reporting worse-than-expected Q3 sales and issuing lower FY24 guidance, along with a strategic review of the Dockers brand.
Levi Strauss's disappointing sales and lower guidance, along with strategic uncertainties regarding the Dockers brand, led to a significant drop in share price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Ingevity shares declined 12.6% following the departure of CEO John Fortson, creating uncertainty about the company's leadership.
The sudden departure of the CEO creates uncertainty and potential instability, leading to a significant drop in share price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Wolfspeed shares dipped 7.5% after Mizuho downgraded the stock from Neutral to Underperform and cut its price target.
The downgrade by Mizuho and the reduced price target directly impacted Wolfspeed's share price, leading to a significant decline.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90