KB Home Drops, Sarepta Jumps, ARM Gains on Plans to Sell Its Own Chips

On this episode of Stock Movers:

- KB Home (KBH) shares fell after the single-family home builder reported forecast deliveries for the second quarter that missed the average analyst estimate.

- Sarepta Therapeutics (SRPT) shares jump after the biotech released early clinical data from its siRNA pipeline. Oppenheimer (outperform) analyst Kostas Biliouris says “early DM1/FSHD data appear promising, but full dataset & more markers needed for conclusions”

- ARM (ARM) shares rise after news it will sell its own chips for the first time, with Meta Platforms Inc. as the first major customer, and expects to generate about $15 billion annually within five years. The company's new chip, called an AGI CPU, will have as many as 136 cores and draw 300 watts of electricity, and will be produced by Taiwan Semiconductor Manufacturing Co.

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