NOVA - Hot Stocks: BMY sets low; SLAB hits new high; Solar stocks climb; CRTX plunges on clinical data; NRIX rises

Drug development is often characterized as a binary event, with the release of clinical-trial data capable of sparking substantial stock moves in either direction. Wednesday provided proof of this concept. Nurix (NASDAQ:NRIX) marked one of the standout gainers on the session, rallying in the wake of strong clinical data. Meanwhile, a failed study sent shares of Cortexyme (NASDAQ:CRTX) in the opposite direction. The stock lost three-quarters of its value on disappointing results for the firm's Alzheimer’s drug. Elsewhere, earnings news represented a crucial driver in Wednesday's trading. Enphase Energy (NASDAQ:ENPH) reported a Street-beating quarter and provided a stellar forecast, inspiring a rally throughout the solar and clean energy sector. SolarEdge Technologies (NASDAQ:SEDG), Sunnova Energy (NYSE:NOVA), Shoals Technologies (NASDAQ:SHLS) and JinkoSolar (NYSE:JKS) all posted substantial gains as well. Meanwhile, earnings news drove Silicon Laboratories (NASDAQ:SLAB) to a new high, while an unimpressive forecast pushed Bristol Myers Squibb (NYSE:BMY) to a fresh

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Hot Stocks: BMY sets low; SLAB hits new high; Solar stocks climb; CRTX plunges on clinical data; NRIX rises