Stocks are falling on Wednesday as negotiations on the debt ceiling continue with the deadline quickly approaching. Abercrombie & Fitch Company (NYSE:ANF) shares jumped 27% as the specialty retailer reported a surprise profit for the first quarter and a gain in net sales. Kohl’s Corp (NYSE:KSS) shares also rose 7.7% after a surprise profit. Petco Health and Wellness Company Inc (NASDAQ:WOOF) shares fell 15% after providing weak revenue guidance for the current quarter. Palo Alto Networks Inc (NASDAQ:PANW) shares rose 7.4% after the cybersecurity firm raised its guidance for profit, sales and billings for the fiscal year. Intuit Inc (NASDAQ:INTU) shares fell 6.9% after the maker of financial software reported third-quarter revenue below forecasts. Sarepta Therapeutics Inc (NASDAQ:SRPT) shares slid 11% after the biotech said the FDA was pushing back a decision date on its muscular dystrophy gene therapy by about a month.
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