Morning Buzz: Sarepta Therapeutics (SRPT), Code Rebel Corp (CDRB), Digital Ally (DGLY), Yahoo (YHOO), Intel (INTC)

Shares of Sarepta Therapeutics, Inc. (SRPT) are nosediving by nearly 45% to $17.50 in pre-market trading on Friday on a disappointing FDA Advisory Committee report concluding that “the data, overall, did not provide statistical evidence to support efficacy of eteplirsen in patients who have a confirmed mutation of the DMD gene that is amenable to exon 51 skipping.”

Code Rebel Corp (CDRB) shares surged 36.87% to $2.97 in pre-market trading after the company announced its entry into a non-binding Letter of Intent to engage in a merger with privately-held company Aegis Identity Software.

Shares of Digital Ally Inc. (DGLY) are up $0.60, or 10.83%, at $6.14, after the company this morning reported the U.S. patent office has confirmed the validity of DGLY’s ‘292 patent on body camera auto-activiation technology. Digital Ally also said that it has filed a lawsuit in the U.S. District Court for the District of Kansas against TASER (TASR), alleging willful patent infringement against Taser’s Axon body camera product line.

Yahoo! Inc. (YHOO) — Reuters reports that Canyon Capital Advisers sent a new letter to Yahoo Inc’s board on Thursday, its third in two months, telling the web portal not to waste more capital and to prioritize a sale of its core business, a portion of its assets, or the entire company.

Yahoo shares declined 3.20% to $29.35 in pre-market trading.

Intel Corporation (INTC) – The world’s largest chipmaker reported fourth quarter/15 EPS of $0.74, compared to the consensus estimate of $0.63. Revenues increased 1.3% from last year to $14.91 billion. Analysts expected revenues of $14.80 billion. The stock is currently down $2.19 to $30.55, its lowest level in more than three months, after the company said its GAAP gross and non-GAAP margins would drop to 58% and 62%, plus or minus a couple of points, respectively, as the company continues to work through the Altera acquisition.

For the upcoming first quarter, Intel guided revenues of $13.6 to $14.6 billion, as compared to analysts’ expectations of $13.89 billion.

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