Stocks Making the Biggest Premarket Moves: Gilead Sciences, Sarepta Therapeutics, Nike and More

Companies Making Headlines Before the Bell

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Nvidia

Nvidia's shares dipped 2% on Friday, extending the 3.5% loss from the previous day. This decline followed a notable moment on Tuesday when Nvidia briefly surpassed Microsoft to become the most valuable public company.

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Sarepta Therapeutics

Sarepta Therapeutics saw its stock soar by 37% after the U.S. Food and Drug Administration approved an expanded use of its Elevidys gene therapy. This therapy, designed to treat patients with Duchenne muscular dystrophy, is now approved for all patients aged 4 and older who can walk, with accelerated approval for non-ambulatory patients.

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Nike

Nike's shares rose by 1% after Oppenheimer upgraded the athletic apparel company from market perform to outperform. Oppenheimer also reinstated Nike as a top megacap pick, citing the company's potential for a gradual rebound as it refocuses on product innovation and brand-building.

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Asana

Asana's shares increased by over 3% following the announcement of a $150 million share buyback plan. The software company expects this stock repurchase program to continue through June 30, 2025.

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Gilead Sciences

Gilead Sciences' stock rose more than 2.6%, continuing the momentum from an 8.5% rally in the previous session. This increase came after Gilead announced that its HIV-prevention shot was successful in a late-stage trial.

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LendingTree

LendingTree's shares saw a slight decline after Bloomberg reported that hackers are auctioning off stolen data from the site. LendingTree was targeted in a cyberattack against the cloud computing firm Snowflake.

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Apple

Apple's stock ticked up following a price target increase by Bernstein. Analyst Toni Sacconaghi upgraded the outlook for Apple, suggesting that the company could emerge as a leader in the artificial intelligence boom.

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Delta Air Lines

Delta Air Lines' shares rose by 0.7% after the airline announced a quarterly dividend of 15 cents per share, representing a 50% increase from previous levels.

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These movements in the stock market reflect investor reactions to recent company-specific news and broader market trends. Nvidia's decline, for instance, suggests some profit-taking after its rapid rise and high valuation, while Sarepta's surge underscores the significant impact of FDA approvals on biopharma stocks. Nike's upgrade and Delta's dividend increase indicate investor confidence in these companies' strategic moves. Asana's buyback plan and Gilead's successful trial results are driving positive sentiment for these stocks. Meanwhile, the slight dip in LendingTree's shares highlights the potential impact of cybersecurity issues on investor confidence, and Apple's uptick reflects bullish sentiment on its AI prospects.

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