As autumn begins, markets were mostly flat on the session, with most indexes slightly up despite news that the Federal Reserve would begin unwinding its QE program.
Nevertheless, the NewsQuantified platform noted numerous news-events that drove substantial stock price reactions.
Our Top Performer reports continue to be dominated by company events tied to future earnings indications—positive or negative. Investors are eager for tangible earnings evidence to justify current valuations.
CareDx is focused on molecular diagnostics tools for transplant patients, working at the research, development, and commercialization stages.
Their stock jumped sharply, over 15% in under 24 hours, after the announcement that Medicare will substantially increase its reimbursement rate for use of CDMA’s AlloMap technology.
The increase stems from a 2014 law revising the Medicare payment system for clinical laboratory tests.
Appliance Recycling plummeted over 18% on Friday after news of their receipt of a default notice from MidCap Funding X Trust, their creditor. The notice states that the default was triggered by ARCI’s recent issuance of promissory notes as part of an acquisition, violating their funding agreement. ARCI disagrees and is exploring its legal options.
APRI specializes in recycling and full-Lifecycle management of appliances. News of the turmoil quickly triggered a selloff.
Arbutus, which develops therapies for the Hepatitis B Virus, shot up on Friday on news that they would be presenting data at a series of high-profile upcoming Hepatitis B conferences.
Investors bought the stock to the tune of gains over 8% since the news broke. Prominent research could be associated with prominent breakthroughs, and investors are eager to get in ahead of any potentially commercialize-able Hep B treatments.
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