Check out the companies making headlines in midday trading. Sarepta Therapeutics — Shares of the biopharma company surged 33% after the U.S. Food and Drug Administration approved the expanded use of the company’s gene therapy Elevidys for Duchenne muscular dystrophy. The FDA granted traditional approval of the therapy for patients 4 years and older who are able to walk and also granted accelerated approval for those who can’t. Hertz Global — Shares rose more than 10% after the car rental giant upsized a bond offering to $1 billion . This comes after the company initially planned to raise $750 million as it looks to refresh its fleet of vehicles. Asana — The stock popped 10.5% after the software firm announced a share buyback plan that would cost $150 million. Asana’s share repurchase program is expected to wrap up on June 30, 2025. Nvidia — The chipmaker dropped another 1% following a 3.5% decline in the previous session. The stock is now down more than 2% this week, set to post its first negative week in nine. A chart technician pointed out a “bearish engulfing” stock pattern that Nvidia formed recently, which often signals that the prior upward momentum is waning. Nvidia is still up over 150% year to date. Gilead Sciences — Shares of the pharmaceutical company popped around 2%, adding to an 8.5% rally from the previous session. Gilead announced on Thursday that its twice-per-year shot preventing HIV was 100% effective in a late-stage trial . LendingTree — Shares declined 2.4% on the back of a Bloomberg report that hackers are auctioning off stolen consumer data from the online lending platform. LendingTree was the victim of a cyberattack against cloud computing firm Snowflake. Palo Alto Networks — Shares rose 2.4% after D.A. Davidson initiated coverage at a buy rating and named it a top pick. D.A. Davidson said the company is unique for being in multiple areas of cybersecurity and that its total addressable market could more than double between 2023 and 2028. Penn Entertainment — The stock fell 3% after surging in the previous session on the news that casino operator Boyd Gaming had approached the company about a potential takeover , according to Reuters. While shares of Boyd fell in Thursday’s session following the report, the stock is up around 1% Friday. Spirit AeroSystems — Shares jumped 6% after Reuters reported that Boeing is close to a deal to buy back the supplier, citing people familiar with the matter. — CNBC’s Alex Harring, Yun Li, Lisa Kailai Han, Hakyung Kim and Michelle Fox contributed reporting.
https://www.cnbc.com/2024/06/21/stocks-making-the-biggest-moves-midday-srpt-htz-asan-and-more.html
