Sarepta Soars to 150% Q3 Gains, Wal-Mart Closes Jet Deal, SeaWorld Sinks & More

Wal-Mart Stores, Inc. (NYSE:WMT) has officially closed on its $3.3 billion acquisition of Jet.com, as it attempts to make online headway against Amazon.com, Inc. (NASDAQ:AMZN). Wal-Mart expects “some marginal dilution above its initial estimate” of $0.05 in dilutive impact to fiscal year 2017 earnings per share. Jet.com and Walmart.com will operate under separate brands but will share the same talent and technology. In addition, the founder of Jet.com, Marc Lore, will lead both websites. Warren Buffett‘s Berkshire Hathaway owned over 40 million shares of Wal-Mart Stores, Inc. (NYSE:WMT) at the end of the second quarter, down by 28% from the end of the first quarter.

Encana Corp (USA) (NYSE:ECA) is off by nearly 5% in after-hours trading after the company announced a marketed share issue of 107 million common shares in addition to granting the underwriters a 30-day option to sell another 16.05 million shares in an overallotment option. Encana plans to use half of the money raised to fund part of its capital program in 2017, with a big focus on the Permian. Encana’s management plans to use the rest of the capital raised to repay debt. The number of funds in our system with holdings in Encana Corp (USA) (NYSE:ECA) fell to 26 at the end of June, down by 2 quarter-over-quarter.

Last but not least, Monday’s star performer, Sarepta Therapeutics Inc (NASDAQ:SRPT) is in the spotlight again after its management gave some details on the potential cost of eteplirsen, which the FDA recently granted accelerated approval to. According to a conference call, the company’s management expects the drug to cost around $300,000 per year in the United States. Sarepta also said that it expects to file a European MAA by the end of 2016. Although Sarepta’s management didn’t give sales expectations for the drug, many analysts are bullish on the drug’s prospects. 20 savvy (and wealthier) funds in our database were long Sarepta Therapeutics Inc (NASDAQ:SRPT) as of the most recent 13F reporting period. Shares of the company have gained over 150% since then.

Disclosure: None