Bull&Bear | B. Riley Financial Surges 45.67% Amid Oaktree Acquisition News; Lucas GC Drops 17.75% on Stock Repurchase Plan
Wednesday, Aug 21, 2024 6:00 pm ET
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On Bullish Stocks:
B. Riley Financial (RILY) surged by 45.67%. The stock price of B. Riley increased by 12%, following reports that Oaktree is set to acquire a majority stake in its subsidiary at a valuation of $380 million.
PROCEPT BioRobotics (PRCT) climbed by 28.36%. PROCEPT's stock saw significant gains after the FDA approved its Hydros prostate therapy.
BigBear.ai Holdings (BBAI) increased by 27.07%. BigBear.ai's stock skyrocketed by 35% as it secured a portion of a $2.4 billion FAA contract.
Eos Energy (EOSE) rose by 26.46%. Eos Energy experienced an uptick due to rising demand for long-duration energy storage, prompting Stifel to reinstate its buy rating.
Tempus AI (TEM) jumped by 21.73%, marking a 7-day streak, with a cumulative increase of 84.77% over the past week. Tempus' stock surged thanks to an expanded partnership and investment agreement with Personalis. Tempus exercised warrants to buy 9.2 million shares of common stock at an average price of $2 per share, investing $36 million, and additionally purchased 3.5 million shares at $5.07 each.
On Bearish Stocks:
Lucas GC (LGCL) dropped by 17.75%, extending a three-day decline to 23.63%. Lucas GC's shares fell amid trading activities after the company announced a $6 million stock repurchase plan.
Pagseguro Digital (PAGS) fell by 14.53%, following a two-day loss totaling 14.59%. Pagseguro Digital's stock declined as the company reported its second-quarter financial results.
Heramba Electric (PITA) declined by 13.98%. Heramba Electric’s FY2023 annual report revealed a 15% drop in revenue and a 20% decline in net profit year-over-year. The company also faces challenges from supply chain issues and rising costs, which will further impact its financial performance.
Macy’s Inc. (M) decreased by 12.91%, following a two-day decline of 13.30%. Macy's lowered its full-year sales guidance, reflecting weakness in the high-end consumer market, leading to a stock drop of over 10%.
Kinsale Capital Group (KINS) fell by 12.82%, following a two-day drop totaling 16.11%. The insurance company disclosed that its adjusted EPS for the second quarter of 2024 would fall significantly short of market expectations, and its operating income decreased sharply year-over-year.
B. Riley Financial (RILY) surged by 45.67%. The stock price of B. Riley increased by 12%, following reports that Oaktree is set to acquire a majority stake in its subsidiary at a valuation of $380 million.
PROCEPT BioRobotics (PRCT) climbed by 28.36%. PROCEPT's stock saw significant gains after the FDA approved its Hydros prostate therapy.
BigBear.ai Holdings (BBAI) increased by 27.07%. BigBear.ai's stock skyrocketed by 35% as it secured a portion of a $2.4 billion FAA contract.
Eos Energy (EOSE) rose by 26.46%. Eos Energy experienced an uptick due to rising demand for long-duration energy storage, prompting Stifel to reinstate its buy rating.
Tempus AI (TEM) jumped by 21.73%, marking a 7-day streak, with a cumulative increase of 84.77% over the past week. Tempus' stock surged thanks to an expanded partnership and investment agreement with Personalis. Tempus exercised warrants to buy 9.2 million shares of common stock at an average price of $2 per share, investing $36 million, and additionally purchased 3.5 million shares at $5.07 each.
On Bearish Stocks:
Lucas GC (LGCL) dropped by 17.75%, extending a three-day decline to 23.63%. Lucas GC's shares fell amid trading activities after the company announced a $6 million stock repurchase plan.
Pagseguro Digital (PAGS) fell by 14.53%, following a two-day loss totaling 14.59%. Pagseguro Digital's stock declined as the company reported its second-quarter financial results.
Heramba Electric (PITA) declined by 13.98%. Heramba Electric’s FY2023 annual report revealed a 15% drop in revenue and a 20% decline in net profit year-over-year. The company also faces challenges from supply chain issues and rising costs, which will further impact its financial performance.
Macy’s Inc. (M) decreased by 12.91%, following a two-day decline of 13.30%. Macy's lowered its full-year sales guidance, reflecting weakness in the high-end consumer market, leading to a stock drop of over 10%.
Kinsale Capital Group (KINS) fell by 12.82%, following a two-day drop totaling 16.11%. The insurance company disclosed that its adjusted EPS for the second quarter of 2024 would fall significantly short of market expectations, and its operating income decreased sharply year-over-year.