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The Nasdaq Now: Sarepta Therapeutics Comes Back Down to Earth


CollabRX and Netflix are gainers on the day.

MINYANVILLE ORIGINAL The Nasdaq surged in early morning trading but gave back most of its gains by midday, as investors await tomorrow's nonfarm payroll numbers.

The Nasdaq Composite (INDEXNASDAQ:.IXIC) is up 0.08% to 3,137.67 points on low volume of 692.36 million as of 12:01 p.m. EDT.

CollabRX (NASDAQ:CLRX) was one of the strong performers of the day, soaring 79.69% to $6.81 on news that the data analytics company had agreed to a multi-year partnership with Life Technologies (NASDAQ:LIFE) on molecular analysis.

Netflix (NASDAQ:NFLX) also moved up 5.94% to $66.30, after an 11% move up on Tuesday, though analysts could not point to any particular catalyst for the company's surge. Netflix announced today that a new original series, House of Cards, starring Kevin Spacey and Robin Wright, would premiere on February 1, 2013.

eBay (NASDAQ:EBAY) was another gainer, up 1.91% to $49.52 as Nomura Securities analyst Brian Nowak upgraded the stock to a Buy, citing the strength of eBay's PayPal business.

NuVasive (NASDAQ:NUVA) suffered a 32.76% plunge to $15.21 after announcing poorer-than-expected third quarter revenue. Preliminary revenue came in at $147 million, when the company had forecast a number similar to the $154.4 million posted in the second quarter.

Informatica (NASDAQ:INFA) also dropped 26.32% to $24.78 after posting disappointing preliminary third-quarter results. It now expects total revenue for the period to come in between $189 million and $191 million, when analysts were expecting a figure around $200 million.

After its amazing near-200% leap yesterday, Sarepta Therapeutics (NASDAQ:SRPT) fell back down a notch, dipping 14.44% to $38.44. After yesterday's good news about the drug maker's muscular dystrophy hope, eteplirsen, ThinkEquity has raised its price target on Sarepta to $40 from $15.

Twitter: @sterlingwong
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