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Sarepta in-licenses rights to four clinical-stage and three preclinical-stage programs targeting muscle, central nervous system and rare pulmonary disorders.

The S&P 500 and the Nasdaq Composite extended losses on Wednesday as investors digested an in-line inflation report.  The personal consumption expenditure index (PCE) rose in October but was above the US Federal Reserve's preferred inflation target.

Ambarella (AMBA 5.83%) stock soared nearly 19% Wednesday morning after reporting a strong earnings beat last night. The stock has since given back about half its gains, but as of 11:20 a.m.

TransMedics is facing a softness in demand for transplant services in the United States. Moreover, rising costs raise concern.

Investors interested in defense stocks should refrain from buying LMT right now, considering its premium valuation. Yet, those who already own it may continue to do so.