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Financial Select Sector SPDR Fund (NYSE: XLF) stock gained nearly 1 percent early Friday morning. The ETF tracks the performance of multiple banks and financial institutions and will likely be a key focus of investors as multiple big banks are scheduled to report their earnings Friday morning.

Qualcomm, Inc. (NASDAQ: QCOM) stock gained more than 2.5 percent amid reports the company's ousted chairman Paul Jacobs is still making a push to buy the company and take it private.

MediciNova, Inc. (NASDAQ: MNOV) stock gained 13 percent. The biopharmaceutical company that focuses on treatments for diseases with unmet medical needs will detail positive results from an interim analysis of a phase 2 trial in NASh and NAFLD. The company will stop the study of its tipelukast after achieving its primary endpoint.

SemiLEDs Corporation (NASDAQ: LEDS) stock lost more than 25 percent in reaction to its second quarter results. The stock is often extremely volatile in reaction to earnings. The company lost 32 cents per share in the quarter on revenue of $1.5 million versus a loss of 11 cents and revenue of $2 million in the same quarter a year ago.

Pulse Biosciences Inc (NASDAQ: PLSE) stock gained more than 15 percent. The electrical energy based therapeutic announced clinical efficacy results of a study of its Nano-Pulse Stimulation (NPS) technology for the treatment of seborrheic keratosis lesions (SKs). The study found that 82 percent of 174 treated lesions were rated as clear or mostly clear after 106 days in 58 adult patients.

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