Iran called Trump seeking a deal, the AI trade erased two days of fear in one session, and Ionis’s ATTR-CM trial failed its primary endpoint.

Today’s edition has the biotech data that sent a stock up nearly 80%, the names that rode the AI comeback, and everything in between.

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*This free resource is being sent by Zacks. We identify investment resources you may choose to use in making your own decisions. Use of this resource is subject to the Zacks Terms of Service.
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Crude oil pulled back 2.18% from Wednesday’s wartime highs as Iran’s outreach to Trump gave traders permission to decompress, with the 10-year Treasury yield also breaking its 7-day climbing streak.

The PHLX Semiconductor Index surged more than 3%, led by ARM Holdings, Micron, and Marvell, with SK Hynix expected to price its $28 billion U.S. listing today, with shares debuting tomorrow.

The direct winner of Ionis’s ATTR-CM failure was Alnylam, which jumped 12% because its Amvuttra is now the unchallenged market leader in transthyretin cardiomyopathy with no near-term competitor threat.

PepsiCo beat Q2 estimates but fell 3% after its CEO said the consumer outlook depends entirely on gas prices, while Costco slipped on June sales that grew 10.6% after May’s 13.7%. Salesforce dropped 2% after KeyBanc issued one of the session’s more pointed downgrades.

AstraZeneca shares fell 8% Thursday after its Ionis-partnered heart drug Wainua failed a Phase 3 trial in transthyretin-mediated amyloid cardiomyopathy, or ATTR-CM. The drug failed to demonstrate sufficient benefit in patients already receiving standard stabilizer treatments.

Ionis also dropped after the setback, which weakened the commercial case for Wainua beyond its existing use in polyneuropathy. The miss put AstraZeneca’s cardiovascular growth plans back under investor scrutiny.

BridgeBio Pharma and Alnylam Pharmaceuticals rallied Thursday after AstraZeneca’s trial miss reduced a potential threat in ATTR-CM, with BridgeBio up 17% and Alnylam rising 12%. Pfizer also moved higher because its Vyndaqel remains a standard therapy in the market.

The rally showed how one failed trial reshaped the rare-heart-disease trade. Wainua’s weak result left approved competitors with a clearer runway while investors marked down AstraZeneca and Ionis.

Lumentum led the S&P 500 on Thursday, with the optical-networking stock rising 11% as data-center infrastructure names bounced with the broader market. Corning also gained 8.3%, while Western Digital, Micron, and Sandisk each advanced more than 7%.

The move showed investors rotating back into hardware tied to cloud, storage, and networking demand. Applied Materials rose 8.3%, KLA gained 7.5%, and Lam Research added 6.7%.

Dell climbed more than 5% Thursday as computer hardware names strengthened, with Arm surging nearly 11% and chip-linked groups leading the Nasdaq higher. Telecom equipment, computer hardware, and semiconductor equipment were among the top-performing industry groups.

The rebound came as the S&P 500 rose 0.6% and the Nasdaq gained 0.8%. Hardware shares outpaced weaker software names, including Meta and Workday, both of which dropped more than 3%.

Paramount shares fell as much as 9% Thursday as investors focused on regulatory pressure around its Warner deal. The company’s $81 billion transaction still faces European review, UK scrutiny, and possible state-level legal action.

Oregon officials requested a 60-day delay while they review deal records. Paramount said the European Commission has until July 22 to complete its review, with a possible 10-day extension to consider remedies.

Paramount’s Warner Bros. Discovery deal would leave the combined company with nearly $80 billion in debt, adding pressure to David Ellison’s plan for a larger Hollywood studio.

The company has promised not to cut content spending or sell assets, while also targeting $6 billion in cost savings within three years. Analysts flagged the debt load as a major risk as traditional TV revenue continues to shrink.

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*This free resource is being sent by Zacks. We identify investment resources you may choose to use in making your own decisions. Use of this resource is subject to the Zacks Terms of Service.

*Past performance is no guarantee of future results. Investing involves risk. This material does not constitute investment, legal, accounting, or tax advice. Zacks Investment Research is not a licensed dealer, broker, or investment adviser.

Salesforce came under pressure Thursday after KeyBanc cut the stock to sector weight from overweight, saying valuation alone was not enough to support a bullish call. The analyst cited weak customer feedback on Agentforce and messy client data for AI projects.

The downgrade added another caution flag for cloud-software names, where investors are still weighing slower growth, lower multiples, and the uneven payoff from enterprise AI products.

Oracle drew fresh attention Thursday after key partner OpenAI said its new model was 54% more efficient on agentic coding tasks than rival models, keeping the company’s cloud relationship with OpenAI in focus.

The update gave investors another reason to watch Oracle’s AI infrastructure push. Its large cloud contract with OpenAI remains central to the debate over whether demand for models can support the company’s long-term data-center buildout.

Weekly jobless claims declined by 2,000 to 215,000, keeping layoffs near low levels even as hiring has cooled. Economists had expected claims to rise to 218,000.

The prior week was revised to 217,000, while continuing claims rose by 8,000 to 1.81 million. The data kept the labor market in a low-hire, low-fire pattern rather than a clear layoff cycle.

Treasury yields stayed firm Thursday as investors weighed jobless claims, oil prices, and Fed minutes, with the 10-year yield near 4.58% after touching a seven-week high Wednesday.

The two-year yield slipped to 4.189%, while the dollar index was little changed. The setup kept rate-sensitive parts of the market under pressure as traders waited for clearer inflation signals.

Julong Holding [JLHL] $12.79 (+317.97%)

Julong is a Chinese commercial services company that has been the most reliably dramatic name on the movers list all summer, swinging between triple-digit gains and 40%+ drops on thin float with no confirmed fundamental catalyst.

Today is another squeeze session. The $65 million market cap makes each move outsized. The business is real. The price is not.

Virax Biolabs [VRAX] $6.38 (+100.63%)

Virax is a diagnostic and infectious disease company running at 228x relative volume with a $2.53 million market cap.

It entered a definitive agreement for the immediate exercise of preferred investment options to buy up to 548,000 ordinary shares at a reduced exercise price of $6.00 per share, raising an expected $3.3 million in gross proceeds. 

Forte Biosciences [FBRX] $36.70 (+78.33%)

Forte reported positive Phase 1b results today for FB102 in vitiligo: 29.6% mean improvement in facial vitiligo scoring at week 24, 84% of treated patients improved, and none worsened.

Placebo patients deteriorated at a 25% rate. The safety profile was clean, early response was observed by day 64, and the next catalyst is Phase 2 celiac disease data. Buy-rated at $9 target.

Aimei Health Technology [AFJK] $12.89 (-51.70%)

Aimei Health Technology is a Chinese healthcare distribution company that went public via reverse merger and has been unwinding from its post-listing spike.

Today’s 51% drop follows a pattern of extreme post-reverse-merger volatility that hits Chinese small-caps hard in their first months of US trading. With a P/E of 78x and $82 million in market cap, the valuation compression still has room to run.

Tvardi Therapeutics [TVRD] $3.80 (-24.00%)

Tvardi surged 61% on Tuesday after reporting positive Phase 1 data for its STAT3 inhibitor TTI-109 and is now giving back nearly a quarter of that in two sessions.

The underlying data hasn't changed — rapid prodrug conversion, dose-proportional exposure, and favorable tolerability. This is the standard post-data-spike fade that happens when positions close after the print drops.

Ionis Pharmaceuticals [IONS] $64.27 (-23.90%)

The CARDIO-TTRansform Phase 3 trial — Ionis and AstraZeneca’s attempt to win ATTR-CM with eplontersen — failed to show a statistically significant reduction in cardiovascular death and recurrent events at Week 140.

ATTR-CM was the cornerstone of Ionis’s 2026 growth story. The stock hit its 52-week high of $86.74 the prior day. Jefferies cut its price target. Biggest single-day drop in five years.

Elon Musk’s next energy move may have nothing to do with EVs, rockets, or solar.

A new power technology, already used by the military, could help solve America’s growing energy bottleneck and reduce reliance on foreign oil. But Musk cannot build it alone.

A few little-known suppliers control key parts of the supply chain, and major tech leaders are already paying attention.

See the three “Dark Energy” stocks tied to Elon’s next energy move.

That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback!

Thanks for reading. I'll see you at the next open! 

Best Regards,
— Adam G.
Elite Trade Club

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