Futures on the Nasdaq Composite (NASDAQINDEX: ^IXIC) were all over the map in premarket trading Friday morning, as many investors reacted negatively to bad news from athletic footwear and apparel giant Nike in its most recent quarterly financial report. Nike's premarket losses of 13% were extreme, but it turns out that there were two Nasdaq stocks with even bigger declines early Friday. Both Intercept Pharmaceuticals (NASDAQ: ICPT) and Rent-A-Center (NASDAQ: RCII) posted steeper drops as they tried to work through some major setbacks and reassure their shareholders that the future could improve.
Intercept (ICPT) gains 13% in the past three months on positive regulatory and pipeline updates.
Akero Therapeutics (AKRO) reports positive top-line data from a mid-stage study evaluating its lead candidate, efruxifermin (EFX), in patients with NASH, fibrosis stage 2 or 3 (F2-F3). Stock up.