Pharma Company Spikes on FDA Approval
Good Morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures were up on Friday after a mixed week overall. Data from the consumer price index led to a sell-off earlier in the week but stocks have already made up most of their losses after a steep decline in retail sales. Overall, weekly wins for the Dow and S&P 500 are within reach.
As more earnings pour in this week, our Lead Technical Tactician Nate Bear is seeking more post-earnings winners in his latest service, Profit Surge Trader. Earlier this week Nate closed a 40.48% winner on AMZN in less than 1 trading day.
Here’s a look at the top-moving stocks this morning.
Dropbox Inc. (Nasdaq: DBX)
Dropbox is down 13.64% in premarket after the cloud storage firm reported declining annual recurring revenue for its fourth consecutive quarter. Its adjusted earnings per share of 50 cents on revenue of $625 million. Analysts were expecting the company to earn 48 cents per share on sales of $631.68 million.
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Sarepta Therapeutics (Nasdaq: SRPT)
Sarepta Therapeutics is up 16.10% premarket after announcing FDA acceptance for its efficacy supplement to the Biologics License Application for ELEVIDYS. The drug is designed to address the underlying genetic cause of Duchenne muscular dystrophy – mutations or changes in the dystrophin gene.