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

AInvestThursday, Aug 1, 2024 6:00 pm ET
1min read
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%.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.