Bull&Bear|American Well Soars by 40.20% as Morgan Stanley Maintains Rating, ALX Oncology Plummets by 41.67%

Bull Stocks:

American Well (AMWL) surged by 40.20%. Morgan Stanley maintained an 'equal-weight' rating for American Well with a price target of $20.

Omnicell (OMCL) rose by 33.00%. Omnicell's stock saw an increase due to better-than-expected earnings performance, with improved annual earnings per share guidance.

Exact Sciences (EXAS) increased by 26.77%. Exact Sciences reported reduced losses for the second quarter and higher operating revenue; its patent from TwinStrand received approval.

Energy Recovery (ERII) climbed by 20.64%, marking a three-day continuous rise amounting to 21.90% over the past three days. Shares of Energy Recovery traded higher after the company reported a stronger than expected Q2 financial performance. Adjusted earnings per share for Energy Recovery in Q2 2024 came in at $0.09, surpassing market expectations of a $0.11 per share loss, and sales amounted to $27.19 million, exceeding market estimates of $22.87 million.

Clearwater Analytics (CWAN) gained by 20.31%. Air Products released an optimistic financial report, boosting shares of several major stocks including Meta, Exact Sciences, Shake Shack, and Clearwater Analytics on Thursday.

Bear Stocks:

ALX Oncology (ALXO) dropped by 41.67%, experiencing a consecutive eight-day decline totaling 58.40% over the eight days. Stifel lowered the price target for ALX Oncology from $14 per share to $5 per share.

Standard BioTools (LAB) fell by 36.61%, continuing a two-day drop amounting to 38.79% over the two days. Standard BioTools reported Q2 earnings below expectations and downgraded its FY24 revenue forecast. The company also announced the resignation of its CFO, Jeffery Black, leading to a drop in stock price.

Alphatec Holdings (ATEC) decreased by 34.26%. Alphatec's stock dropped by 30.4% after the release of its second-quarter results, closing at $7.03.

Bandwidth (BAND) plummeted by 30.02%. Bandwidth's share price fell following the announcement of its second-quarter financial report, showing earnings per share of -$0.17 and revenue of $174 million.

Mobileye Global (MBLY) declined by 22.48%. Intel's Q2 performance and guidance fell short of market expectations, leading to a significant drop in stock price and a staff reduction of 15%.