Trending Stories: URBN Tumbles on Weak Sales, VRX Cuts Guidance, SRPT Rallies

Urban Outfitters URBN shares fell sharply on Friday after the company said in a regularly filing that its comparable-store sales, a key measure for retailers, for the second quarter is expected to fall by a percentage in the mid single-digit range. This is well below the consensus forecast. Analysts, in fact, were expecting an increase of 1.1% in second-quarter comparable store sales.

Valeant Pharmaceuticals International VRX has lost 90% of its market capitalization in the last one year due to a range of issues. This week, the stock once again saw a sharp pullback. The sell-off was triggered by the company's downward revision to its guidance for 2016. VRX also released its Q1 results, which missed consensus forecast. Investors are worried about VRX's debt levels.

Sarepta Therapeutics Inc. SRPT shares saw a huge rally earlier in the week after the company announced that the Food and Drug Administration (FDA) requested the company to provide additional information for its DMD drug eteplirsen. The FDA is reviewing the eteplirsen New Drug Application (NDA). Its request for additional data has been seen as a positive by the market.