Today's Market Winners and Losers
The stock market is up slightly Wednesday, with the Dow Jones Industrial Average up 0.07%, the Nasdaq up 0.24% and the S&P 500 up 0.13%. Today's winners include a pharmaceutical company reporting strong data for a muscular dystrophy drug and a financial firm that has is increasing its presence in the residential market. Today's only loser is a small wireless carrier that could get hurt due to more consolidation in the industry.
These are Wednesday's market winners and loser.
Shares of Sarepta Therapeutics, Inc. (NASDAQ: SRPT) are up 167.32% to $40.07 on trading volume of 15.6 million shares. The company on Wednesday reported strong data for its muscular dystrophy drug eteplirsen. Before Wednesday, the 52-week high was $17.12.
Shares of Ocwen Financial Corp. (NYSE: OCN) are up 17.44% to $34.01 on trading volume of 4.3 million shares. The Loan servicer will buy Homeward Residential Holdings from the private equity firm WL Ross & Co. for $750 million. Before Wednesday, the 52-week high was $29.13.
Shares of Leap Wireless International Inc. (NASDAQ: LEAP) are down 15.02% to $6.45 on trading volume of 10 million shares. The company has been downgraded to neutral from overweight by the equity research department at JP Morgan Chase & Co. (NYSE: JPM), with analysts concerned the deal between Deutsche Telekom and MetroPCS Communications Inc. (NYSE: PCS) could leave Leap at a strong disadvantage to build out stronger networks. The 52-week low is $4.28.
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Filed under: 24/7 Wall St. Wire Tagged: JPM, LEAP, OCN, PCS, SRPT