See the companies making headlines in midday trading. Sarepta Therapeutics – Shares of the biopharmaceutical company rose 30% after the U.S. Food and Drug Administration approved the expanded use of the company’s gene therapy Elevidys to treat Duchenne muscular dystrophy. The FDA granted traditional approval to the therapy for patients 4 years of age and older who can walk, and also granted accelerated approval for those who cannot. Hertz Global – Shares rose about 16% after the car rental giant increased its bond offering to $1 billion. This comes after the company initially planned to raise $750 million to upgrade its fleet. Asana — Shares jumped more than 15% after the software company announced a stock buyback plan that would cost $150 million. Asana’s share repurchase program is expected to end on June 30, 2025. Nvidia, the chipmaker’s shares, fell another 3% after falling 3.5% in the previous session. The stock is down more than 2% this week, its first negative week in nine. The charting specialist pointed to a “bearish engulfing” pattern that Nvidia recently formed, which often signals that prior upward momentum is fading. Nvidia is still up over 150% year to date. Gilead Sciences – Shares of the pharmaceutical company jumped about 3%, adding an 8.5% gain from the previous session. Gilead announced Thursday that its twice-yearly HIV prevention vaccine was 100% effective in a late-stage study. LendingTree shares fell about 2.5% following a Bloomberg report that hackers are auctioning off stolen consumer data from an online lending platform. LendingTree was the victim of a cyberattack on cloud computing company Snowflake. Palo Alto Networks shares rose about 3% after D.A. Davidson entered coverage with a buy rating and called it a top pick. YES. Davidson said the company is unique in that it operates in many areas of cybersecurity and that its total addressable market could more than double between 2023 and 2028. Penn Entertainment – Shares fell 1% after rising in the previous session on news that casino operator Boyd Gaming has approached the company about a possible takeover, according to Reuters. While Boyd shares fell in Thursday’s session following the report, they were up about 2% on Friday. Spirit AeroSystems shares jumped 6% after Reuters reported Boeing was close to a deal to buy out the supplier, citing people familiar with the matter. — CNBC’s Alex Harring, Yoon Lee, Lisa Kailai Han, Hakyung Kim and Michelle Fox contributed reporting.
