Nasdaq Turns Higher; Verizon Shares Fall After Q3 Results
Portfolio Pulse from Avi Kapoor
U.S. stocks showed mixed performance with the Nasdaq Composite gaining 0.2%. Verizon shares fell 5% after Q3 results missed sales estimates. iRhythm Technologies surged 22% on FDA clearance news, while Mueller Industries rose 16% on strong sales. Sangamo Therapeutics gained 37% after FDA approval for an accelerated pathway. Genuine Parts and Polaris shares dropped due to disappointing earnings.
October 22, 2024 | 7:16 pm
News sentiment analysis
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POSITIVE IMPACT
iRhythm Technologies shares surged 22% after receiving FDA clearance for its Zio AT device.
The FDA clearance for iRhythm's Zio AT device is a significant positive development, leading to a 22% increase in share price.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Mueller Industries shares rose 16% after reporting better-than-expected Q3 sales results.
Mueller Industries reported strong Q3 sales, exceeding expectations, which led to a 16% rise in its stock price.
CONFIDENCE 100
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Sangamo Therapeutics shares increased 37% after FDA approved an accelerated pathway for ST-920 in Fabry disease.
The FDA's approval for an accelerated pathway for Sangamo's ST-920 is a major positive, resulting in a 37% stock price increase.
CONFIDENCE 100
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Genuine Parts Company shares dropped 19% after mixed Q3 results and a cut in FY24 EPS guidance.
Genuine Parts reported mixed Q3 results and reduced its FY24 EPS guidance, leading to a 19% decline in its stock price.
CONFIDENCE 100
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Logitech shares fell 8% following second-quarter results.
Logitech's second-quarter results led to an 8% decline in its stock price, indicating a negative market reaction.
CONFIDENCE 100
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Polaris shares fell 8% after reporting worse-than-expected Q3 EPS and sales, and cutting 2024 guidance.
Polaris reported disappointing Q3 results and reduced its 2024 guidance, resulting in an 8% drop in its stock price.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Verizon shares fell 5% after Q3 results showed flat sales growth, missing estimates. EPS slightly beat expectations.
Verizon's Q3 results showed flat sales growth, missing analyst estimates, which led to a 5% drop in share price. Despite a slight EPS beat, the market reacted negatively to the sales miss.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100