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Stock impact report

Driven Brands, Cogent, Concentrix, Arlo Technologies, and Planet Labs Stocks Trade Down, What You Need To Know [Yahoo! Finance]

Driven Brands Holdings Inc. (DRVN) 
Company Research Source: Yahoo! Finance
the U.S. and Iran pushed oil prices above $100 a barrel, rattling investor confidence. Major indices saw significant declines, with the Dow Jones tumbling. The uncertainty surrounding the conflict drove Brent crude oil higher, effectively acting as a tax on the global economy by increasing costs for businesses and consumers. This sentiment was reflected in the University of Michigan's consumer survey, which fell to a three-month low as households braced for higher inflation, with year-ahead expectations jumping to 3.8%. Richmond Fed President Tom Barkin commented on the situation, noting that the 'fog of war' has deepened economic uncertainty and that historically, such oil price shocks are highly coincident with recessions. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Among others, the following stocks were impacted: Industrial & Environmental Services company Driven Brands (NASDAQ:DRVN) fell 3.2%. Is now Show less Read more
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