oracle, visa among market cap stock movers on thursday

Investing.com -- Sarepta Therapeutics Inc (NASDAQ:SRPT) stock fell 3.7% on Thursday after the company announced a debt exchange agreement that will restructure a portion of its convertible notes.

The precision genetic medicine company will exchange approximately $291.4 million in aggregate principal amount of its 1.25% convertible senior notes due 2027 for the same amount of new 4.875% convertible senior notes due 2030, plus approximately $31.6 million in cash. The transaction is expected to close on December 18, subject to customary closing conditions.

Following the exchange, approximately $158.6 million of the original 2027 notes will remain outstanding with unchanged terms. The new notes will be part of the same series as the approximately $602 million of 4.875% convertible senior notes due 2030 that Sarepta originally issued in August 2025, bringing the total aggregate principal amount to $893.4 million.

In connection with the exchange, Sarepta disclosed that the placement agent intends to purchase approximately 691,000 shares of the company’s common stock in privately negotiated transactions from certain investors participating in the exchange. These purchases will be made through a financial intermediary at a discount to the last reported sale price on December 10.

The company noted that such purchases by the placement agent could potentially impact the market price of Sarepta’s common stock, the new convertible notes, or the existing convertible notes.

The new notes and the common stock issuable upon conversion are not being registered under the Securities Act and may only be offered or sold pursuant to applicable exemptions from registration requirements.

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Investing.com – Turkey stocks were higher after the close on Thursday, as gains in the Wholesale & Retail Trade, Food & Beverages and Metal Products & Machinery sectors led shares higher.

At the close in Istanbul, the BIST 100 added 0.36%.

The best performers of the session on the BIST 100 were Turk Altin Isletmeleri AS (IS:TRALT), which rose 6.71% or 2.62 points to trade at 41.64 at the close. Meanwhile, Batisoke Soke Cimento Sanayi TAS (IS:BSOKE) added 4.50% or 0.71 points to end at 16.50 and BIM Birlesik Magazalar AS (IS:BIMAS) was up 3.94% or 21.00 points to 554.00 in late trade.

The worst performers of the session were Oba Makarnacilik Sanayi ve Ticaret AS (IS:OBAMS), which fell 2.99% or 0.22 points to trade at 7.14 at the close. Otokar Otomotiv ve Savunma Sanayi AS (IS:OTKAR) declined 2.96% or 15.00 points to end at 492.50 and Kocaer Celik Sanayi ve Ticaret AS (IS:KCAER) was down 2.57% or 0.28 points to 10.61.

Rising stocks outnumbered declining ones on the Istanbul Stock Exchange by 331 to 248 and 24 ended unchanged.

Shares in Turk Altin Isletmeleri AS (IS:TRALT) rose to all time highs; rising 6.71% or 2.62 to 41.64.

Gold Futures for February delivery was up 1.02% or 42.95 to $4,267.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 1.86% or 1.09 to hit $57.37 a barrel, while the February Brent oil contract fell 1.77% or 1.10 to trade at $61.11 a barrel.

USD/TRY was up 0.02% to 42.61, while EUR/TRY rose 0.64% to 50.18.

The US Dollar Index Futures was down 0.92% at 97.86.

Investing.com -- Major automakers in the United States called on Washington Thursday to block Chinese government-backed car and battery manufacturers from establishing production facilities in America, claiming the industry’s future is at risk.

The Alliance for Automotive Innovation, representing companies including General Motors, Ford, Toyota Motor, Volkswagen, and Hyundai, urged both Congress and the incoming Trump administration to take action against what they described as a threat from China.

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"China poses a clear and present threat to the auto industry in the U.S," the group stated in a document prepared for a U.S. House hearing focused on Chinese vehicles.

The alliance also advocated for maintaining the U.S. Commerce Department’s current prohibition on importing information and communications technology and services from China, which effectively prevents Chinese manufacturers from importing vehicles into the American market.

Investing.com -- Barclays downgraded Pentair to Equal Weight from Overweight and cut its price target to $115 from $127, saying the company’s multi year margin expansion is unlikely to repeat as transformation benefits taper and earnings growth becomes more dependent on end markets.

Pentair has delivered margin gains well ahead of the goals it set at its 2024 capital markets day, with operating margins now expected to reach 26 to 27% in 2026 compared with an original target of 24%.

According to Barclays that outperformance leaves less room for further surprises as cost out and restructuring tailwinds fade and the company shifts toward top line driven growth.

Barclays said Pentair has executed well on its move from a conglomerate model to a focused water business, but the mix of the water and flow segments may limit further margin expansion compared with peers that have higher exposure to medical or other structurally higher margin markets.

The downgrade came as part of a broader multi industry sector outlook for 2026 in which Barclays kept a neutral view on the group.

It said subdued investor expectations outside of data centers, electric utilities and aerospace could set up better relative performance next year after a weak 2025 in which the median stock fell 11%.

The firm said margin stories may be nearing their peak for companies such as Pentair and Illinois Tool Works, with organic growth still muted.

According to Barclays high growth pockets such as data centers, residential air conditioning and parts of smart commercial infrastructure continue to screen well, while names including Carrier, Generac, Lennox, nVent, Regal Rexnord and Rockwell look more attractive on its framework.