An Hour Ago
Sarepta surges after gene therapy approval
Shares of Sarepta Therapeutics popped 33% after the Food and Drug Administration approved more use of the company’s gene therapy against Duchenne muscular dystrophy.
An Hour Ago
Stocks head for winning week
With just Friday’s session left in the trading week, the three major indexes are tracking for gains.
The Dow led the way, adding 1.4% this week.
The S&P 500 has advanced 0.8%. Notably, the broad index briefly topped 5,500 for the first time during Thursday’s session.
The technology-heavy Nasdaq Composite has trailed, rising by just 0.2%.
— Alex Harring
3 Hours Ago
Europe stocks lower
European markets were lower in early deals Friday, though they remained on track for a weekly gain as investors monitor a slew of central bank decisions and data releases from the region.
France’s CAC 40 index was down 0.1%, and Germany’s DAX and the U.K.’s FTSE 100 were both around 0.2% lower.
— Jenni Reid
12 Hours Ago
Tech is ‘overdone’ right now, Nuveen’s Saira Malik says
Tech stocks may soon be seeing a pullback, according to Saira Malik of Nuveen.
“The technicals and the flows into tech … make them look overbought in the short term,” the firm’s chief investment officer told CNBC’s “Power Lunch” on Thursday. “The relative strength indicators show that tech is overdone at this point, so I wouldn’t be surprised to see a shorter-term pause.”
However, there’s one megacap tech name in particular that could see a lot more upside ahead, especially given the limited supply of artificial intelligence stocks, Malik said.
“Nvidia is definitely becoming the tail that wags the dog,” she said, adding that it’s not an expensive stock compared to the broader semiconductor industry. “It’s just not a stock that you’re paying a lot for.”
Shares of the chipmaker closed down 3.54% on Thursday after hitting a new 52-week high during the session. The stock is up around 164% this year.
— Sean Conlon
13 Hours Ago
Asana shares jump 4%
Shares of Asana rallied 4% Thursday evening after the company announced a $150 million stock repurchase program. The company said the program will run through June 30, 2025.
Year to date, shares are still down more than 40%.
— Hakyung Kim
13 Hours Ago
