Check out the companies making the biggest moves at noon: Scholar Rock — The Cambridge, Mass.-based biotechnology company soared 23% Wednesday after announcing it had “completed a constructive and collaborative Type A face-to-face meeting” with the FDA for its biologics license application for its spinal muscular atrophy drug apitegroumab. Officials from Novo Nordisk’s Catalent Indiana also attended the meeting and said the facility will be ready for re-inspection by the end of 2025. Strategy — Cryptocurrency stocks fell about 1%, well below the lows seen earlier in the day. CEO Michael Saylor told CNBC’s “Squawk Box” that Bitcoin holders are buying “quite a lot” of the cryptocurrency at current levels. Bitcoin briefly fell to $95,000 early Friday. Figure Technology Solutions — Shares rose 20% after the lending platform reported better-than-expected revenue in the third quarter. The company reported earnings per share of 34 cents, excluding certain items, on revenue of $156.4 million. Analysts surveyed by FactSet had expected earnings of 16 cents a share on sales of $119.4 million, excluding certain items. Whirlpool – The consumer electronics maker soared 4.8% after David Tepper’s Appaloosa revealed a significant expansion in its stock. Whirlpool emerged as the fund’s third-largest holding with more than $430 million. Nu Holdings — The Brazil-based digital banking company rose more than 4% after better-than-expected third-quarter results. Net income totaled $782.7 million on sales of $4.17 billion. Analysts had expected revenue of $3.52 billion and profit of $774.8 million, according to FactSet. Vertiv — The data center infrastructure stock rose 6% after the company increased its quarterly dividend by 67% to 6.25 cents per share. Topgolf Callaway — Shares soared 6% after the Wall Street Journal reported, citing sources, that the company is in talks to sell Topgolf to private equity firm Leonard Green for about $1 billion. Cidara Therapeutics — Cidara stock soared 103% after Merck agreed to buy the company for nearly $9.2 billion in cash. Merck fell 1%. Avadel Pharmaceuticals — Danish drugmaker Lundbeck has offered to buy the drug company for $23 per share, outselling Avadel by 19% and outselling its previous bid for biotech company Alkermes. Warner Bros. Discovery — The parent company of HBO and CNN rose 3% after the Wall Street Journal reported that Paramount Skydance, Netflix and Comcast were preparing bids for the media company. Warner Bros. Discovery’s initial bid deadline is November 20, the newspaper reported, citing sources familiar with the project. Walmart — The nation’s largest retailer fell 1% after the company announced CEO Doug McMillon would step down effective February 1 and be replaced by John Farner. Big Tech — The group attempted to recover from a sharp selloff earlier in the session amid persistent concerns over AI stock valuations. Alphabet fell 0.1%, but it was well off the day’s lows. Nvidia, Palantir, and Tesla were high along with Meta. StubHub — The ticket distributor reported a third-quarter net loss of $1.33 billion, or $4.27 per share, compared with a net loss of $45.9 million, or 15 cents per share, in the same period last year, a 19% decline. StubHub criticized the one-time stock-based compensation claim. CEO Eric Baker said on a conference call that the company would not provide guidance for the current quarter. —CNBC’s Alex Harring, Liz Napolitano, Scott Schnipper and Michelle Fox contributed reporting. Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. With Comcast’s planned Versant spinoff, Versant will become CNBC’s new parent company.
