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The Nasdaq Now: Sarepta Therapeutics Comes Back Down to Earth

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CollabRX and Netflix are gainers on the day.

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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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No positions in stocks mentioned.
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