Hot Stocks: Travel stocks rise; MDGL jumps on FDA designation; CTLT, TRUP drop
Nikada

The latest barrage of earnings reports failed to move the overall stock market, as the major U.S. equity averages finished the session nearly unchanged. The S&P 500 edged up less than 0.1%.
Despite the general malaise, travel stocks managed to push higher. This included gains from Airbnb (NASDAQ:ABNB), Trip.com (TCOM), Hyatt Hotels (H), Bally's (BALY), Tripadvisor (TRIP) and Expedia (EXPE).
Madrigal (MDGL) also recorded a standout performance, posting a double-digit percentage advance after receiving a favorable regulatory decision.
On the downside, Catalent (CTLT) added to recent weakness that has taken the stock down by almost 37% over the past week. Elsewhere, Trupanion (TRUP) slumped to a new 52-week low.
Sector In Focus
Travel stocks pushed higher again, adding to a recent upswing. Airbnb (ABNB) was among the standout gainers, climbing almost 3% on the day. This marked its fourth consecutive day of gains and its sixth advance in the past seven sessions.
Elsewhere in the space, Trip.com (TCOM) and Hyatt Hotels (H) advanced 3% on the day. Bally's (BALY), Tripadvisor (TRIP) and Expedia (EXPE) rose about 2%.
Standout Gainer
A regulatory decision sparked buying in Madrigal (MDGL), with shares of the biotech climbing 13% after the U.S. Food and Drug Administration granted a breakthrough therapy designation to the firm's resmetirom product.
The company is studying resmetirom to treat patients with nonalcoholic steatohepatitis with liver fibrosis. The firm's CEO stated that the decision "reinforces our confidence in our regulatory strategy as we approach the new drug application filing for resmetirom, which remains on track for Q2 2023." 
MDGL finished Tuesday's trading at $289.32, rising $32.77 on the day. With the advance, shares have climbed 23% in the past week, reaching their highest level since late February.
Standout Decliner
Catalent (CTLT) declined again, adding to a recent slump. The stock dropped 7%, recording its sixth consecutive day of weakness and extending a one-day drop of 27% seen late last week.
Shares plunged last Friday after the company warned that productivity issues and higher-than-expected costs would hurt its Q3 results. The contract manufacturer also announced that it was replacing its CFO.
The stock came under further pressure this week, amid reports that Danaher Corp. (DHR) had dropped its pursuit of the company. 
On Tuesday, CTLT fell $3.35 to close at $42.08. This represented its lowest close since late November, although the stock remained off a 52-week low of $40.69.
Notable New Low
Trupanion (TRUP) extended a recent downtrend with another slide of 3%. The drop took the stock to a new 52-week low.
TRUP finished the session at $34.78, a retreat of $1.25. During the day, the stock also reached an intraday 52-week low of $34.11. 
This added to a decline seen the previous day, when TRUP dropped 13% on a short report. Tuesday also represented its fifth consecutive day of losses. Overall, shares have slumped 40% in the past month.

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