Why Teva Pharmaceutical Industries, Shoe Carnival, and Hasbro Jumped Today

The major benchmarks all moved higher Thursday, with the Nasdaq Composite producing the biggest gains. The growing devastation left in the wake of Hurricane Harvey still dominated the news. The White House announced that it would tap the U.S. emergency oil reserves, as the U.S. oil industry had lost nearly 20% of its production capacity due to the storm. News from individual companies led to some big moves higher. Teva Pharmaceutical Industries Limited (NYSE: TEVA), Shoe Carnival, Inc. (NASDAQ: SCVL), and Hasbro, Inc. (NASDAQ: HAS) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.

Shares of Teva Pharmaceutical Industries gained 2.5% in response to an expanded approval by the U.S. Food and Drug Administration. The maker of generic and brand-name pharmaceuticals announced approval for its drug Austedo to treat movement disorders associated with tardive dyskinesia, which augments an earlier approval for chorea associated with Huntington's disease. Both disorders are characterized by uncontrolled, often debilitating repetitive movements.

Chief Science Officer Michael Hayden focused on the flexible dosing regimen of the drug, stating, "We believe physicians treating tardive dyskinesia will appreciate the therapy's dosing flexibility and the ability to focus on directly treating the movement disorder and not disrupt the ongoing treatment for the underlying condition."

Source: Fool.com