Biggest stock movers today: Reata Pharmaceuticals, Enphase Energy, Roku and more
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Stock futures are trading higher in Friday's session after the Fed's inflation data cooled to the lowest in nearly two years.
Here are some of Friday's biggest stock gainers and losers:
Biggest stock gainers

Shares of Reata Pharmaceuticals (NASDAQ:RETA) surged more than 50% after Biogen (BIIB) agreed to buy the rare disease drug developer for $172.50 per share in cash, representing $7.3 billion in enterprise value. The acquisition, which is slated for closing in Q4, is expected to be somewhat dilutive to Biogen's non-GAAP EPS in 2023, essentially neutral in 2024, and significantly accretive beginning in 2025.

Roku's (NASDAQ:ROKU) shares increased by almost 20% after the streaming company reported better-than-expected Q2 results. For the quarter, active accounts increased by 16% to 73.5 million, while streaming hours increased by 21% to 25.1 billion. The company anticipates $815 million in Q3 net revenue, which is higher than the consensus estimate of $808 million.
SIGA Technologies (NASDAQ:SIGA) stock rose 27% after the U.S. Department of Health and Human Services exercised procurement options for the supply of ~$113 million in oral TPOXX treatment courses and $25 million in IV TPOXX treatment courses. A commercial-stage pharmaceutical company expects to fully deliver $113 million of oral TPOXX in 2023 and start delivering IV TPOXX in 2024.
The stock of Intel (NASDAQ:INTC) increased over 5% as the semiconductor giant exceeded Q2 expectations and showed signs of a PC market revival. The company expects Q3 revenue of between $12.9 billion and $13.9 billion, compared to the consensus of $13.28 billion, and non-GAAP EPS of $0.20, compared to the consensus of $0.17.

Biggest stock losers

Shares of Enphase Energy (NASDAQ:ENPH) plunged 10% after mixed Q2 earnings results and a disappointing Q3 sales outlook. Following a shortfall on the top line, the company expects Q3 sales to be in the $555 million â $600 million range, well below the $749 million analyst average estimate. The company also authorized a new $1 billion stock buyback program.
Sweetgreen (NYSE:SG) stock fell 10% after the salad chain reported lower than expected Q2 results. For FY2023, the company anticipates revenue ranging from $575 million to $595 million, which is in line with the consensus estimate of $589.34 million.

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