Eoneren/E+ via Getty Images
Stock futures are mixed in Tuesday's session as investors analyse more big bank earnings and soft retail sales data.
Here are some of Tuesday's biggest stock gainers and losers:
Biggest stock gainers
- The Charles Schwab (NYSE:SCHW) shares increased by 13% following upbeat Q2 results. The company added 1 million new brokerage accounts in the quarter, increasing the total client assets to $8.02 trillion from $7.58 trillion at the beginning of the quarter.
- Transocean's (NYSE:RIG) stock surged over 8% after an unnamed independent operator awarded it a $518 million ultra-deepwater drillship contract in the Gulf of Mexico offshore Mexico. The 1,080-day contract is planned to begin between the fourth quarter of 2025 and the second quarter of 2026.
- Shares of Karyopharm Therapeutics (NASDAQ:KPTI) surged around 20% after the US FDA awarded Fast Track designation to the development program of selinexor for the treatment of patients with myelofibrosis. Top-line data from the Phase 3 study is expected in 2025.
- Sunrun (NASDAQ:RUN) stock climbed approximately 8% as Morgan Stanley picked the company in its solar energy choices ahead of the second quarter results season. Morgan Stanley analyst Andrew Percoco expects the company to achieve the middle of its 270–290 MW installations target in Q2 and model $12,921 NSV vs. the company's guidance for sequential growth off of $12K in Q1, and a "fairly constructive" update of the demand outlook on its Sunrun Shift product, supporting near-term market share gains in California, which could drive a positive full-year guidance revision.
- The stock of FB Financial (NYSE:FBK) rose 16% after the company reported mixed second-quarter earnings. President and Chief Executive Officer, Christopher T. Holmes stated, "We boosted our balance sheet strength during the quarter so the Company is prepared regardless of whether the future brings challenges or opportunities. We continued reducing our exposure to public funds, enhancing our already diversified and granular deposit portfolio. We also reduced our exposure to commercial real estate, further strengthening our well-balanced loan portfolio. Additionally, our strong capital base and ample reserve for credit losses give us optionality in allocating capital and increasing returns as we move into the second half of 2023 and look forward to 2024."
Biggest stock losers
- Apellis Pharmaceuticals (NASDAQ:APLS) saw its stock plummet nearly 24% after a major ophthalmology medical group issued a caution about its geographic atrophy medication, Syfovre (pegcetacoplan). According to the American Society of Retinal Specialists, the inflammation occurs between one and two weeks following the first injection. Syfovre is given once every 25 to 60 days.
- Masimo (NASDAQ:MASI) stock fell nearly 27% after the company reported lower-than-expected preliminary revenue for Q2 and announced cost cuts in the second half of the year. The company now sees Q2 consolidated revenue in the range of $453 million to $457 million vs. consensus of $539.62 million. Healthcare revenue ranges from $280 million to $282 million, with non-healthcare revenue ranging from $173 million to $175 million. A shortfall in healthcare revenue is attributable to a variety of factors, including delays in large orders, high labor costs straining hospital budgets, conversion delays, and elevated sensor inventories due to past discounting.
- CEL-SCI (NYSE:CVM) shares plunged more than 20% after the company announced to raise $5 million by offering 2.5 million shares of its common stock at $2.00/share. Offering is expected to close on July 20, 2023 and proceeds will be used to fund the continued development of Multikine and for general corporate purposes.