SAVA - Midday Hot Stocks: CPRI POWI rise on earnings; ERYP jumps on FDA designation; SAVA plunges

Earnings headlines continued to exert their influence in Friday's midday action. Capri Holdings (NYSE:CPRI) and Power Integrations (NASDAQ:POWI) both posted double-digit gains in intraday action, thanks to better-than-expected quarterly reports. Erytech Pharma (NASDAQ:ERYP) also attracted substantial buying interest on Friday. The stock skyrocketed in intraday action on a positive regulatory decision for its eryaspase product. Drug-related news had the opposite impact on Cassava Sciences (NASDAQ:SAVA). Shares plunged on poorly received data regarding its Alzheimer's candidate. Fashion house and luxury products maker Capri Holdings reported a quarterly profit that topped expectations, with revenue that rose 177% from last year to reach $1.25B. The company also raised its forecast. On the news, CPRI climbed 12% in Friday's intraday action. Power Integrations also received resounding applause for its latest quarterly report. The company's non-GAAP EPS figure of $0.83 beat expectations, while revenue rose nearly 69% from last year. POWI gained nearly 13% in

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Midday Hot Stocks: CPRI, POWI rise on earnings; ERYP jumps on FDA designation; SAVA plunges