The Middle East ceasefire that markets had started to take for granted cracked wide open today, with Iran firing missiles at the UAE and oil surging back above $106.
At the same time, Amazon quietly dropped a logistics bomb that sent FedEx, UPS, and GXO into freefall. Everything you need to know about who won, who lost, and why is all below.
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Markets
Oil surged back above $106 as Iran fired missiles at the UAE, the first activation of the UAE missile alert system since the ceasefire began on April 8. That shook any investor confidence in a near-term resolution.
Amazon’s announcement of its new Supply Chain Services offering hammered logistics stocks across the board. First-quarter earnings remain a bright spot, with S&P 500 EPS tracking 25% annual growth and a 5% beat over April 1 consensus… the strongest since 2021.
The New York Fed’s John Williams flagged inflation staying near 3% this year, keeping the Fed on hold.
DJIA [-1.12%]
S&P 500 [-0.40%]
Nasdaq [-0.18%]
Russell 2000 [-0.58%]
Market-Moving News
Supply Chain
The Delivery Network That Crushed Retail Now Wants to Crush Logistics Too
Amazon.com Inc (NASDAQ: AMZN) just opened its entire logistics network to outside businesses.
Any company in retail, healthcare, or manufacturing can now use Amazon's freight, warehousing, shipping, and delivery infrastructure to move goods from raw materials to front doors. P&G, 3M, and American Eagle have already signed on.
The AWS Playbook, Again
Amazon built its cloud computing infrastructure to run its own operations. Then it opened it to outside businesses and created AWS, now the most profitable division in the company.
This logistics move follows the identical playbook. Turn an internal cost into an external revenue machine.
The parallels are hard to miss. You watch a company repeat its most successful strategic move in an entirely new industry, and the ambition becomes very clear.
100 Cargo Planes, 80,000 Trailers, and Your Business Is Next
Amazon operates over 100 cargo planes, more than 80,000 trailers, and 24,000 intermodal containers. It offers two-to-five-day delivery timelines, inventory forecasting, and fulfillment across every sales channel, including websites, social media, and physical stores.
That infrastructure took decades to build. No competitor can replicate it overnight. Your local logistics provider does not operate at this scale.
Amazon already has the density, the data, and the delivery speed. Adding outside clients makes every route more efficient and every truck more profitable.
You respect a company that turns its biggest expense into its newest revenue stream and then watches its competitors scramble to respond.
Corporate
A Planned Merger Changed Course, and It Reshapes the Company
Rallybio (NASDAQ: RLYB) just went through a major shift that changes its direction. The company’s planned merger with Candid Therapeutics is no longer moving forward, after Candid chose to align with UCB instead.
As part of the outcome, Rallybio will receive a $50 million payment tied to the original agreement.
A Strategic Reset in Real Time
The original merger was expected to shape Rallybio’s next phase. With that path no longer in place, the company now has full control over how it moves forward.
You end up with a business that is no longer tied to a combined structure and can refocus on its own priorities.
That independence creates both pressure and flexibility. It puts decision-making back entirely within the company.
Capital Comes With Responsibility
The financial compensation provides immediate support. It gives Rallybio the resources to continue developing its programs without relying on the original merger structure.
This is where the shift becomes more meaningful. Your attention shifts to how effectively that capital is used, because it now becomes a tool for rebuilding momentum independently.
A New Direction Takes Shape
With the merger off the table, Rallybio enters a phase where it defines its own trajectory. That includes how it advances its pipeline and how it approaches future partnerships.
The path is clearer, even if it is different. You begin to recognize a company that is resetting itself, with a chance to rebuild its strategy on its own terms rather than through a combined entity.
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Pharma
Amgen Just Doubled Down on U.S. Manufacturing in a Big Way
Amgen (NASDAQ: AMGN) just made a major move to strengthen its position by expanding its U.S. manufacturing footprint.
The company is investing another $300 million into its Puerto Rico facility, adding to a series of large commitments aimed at building a stronger domestic production network.
The timing aligns with rising pressure on global supply chains. Drugmakers are now being pushed to produce more locally, and Amgen is moving early to stay ahead of that shift.
A Clear Move Toward Control
Amgen is strengthening its ability to produce medicines closer to where they are needed. That reduces reliance on overseas supply chains and gives the company more control over production timelines and delivery.
That kind of control matters in pharma. It ensures consistency and reduces exposure to external risks.
Positioning for Policy and Demand
The push toward domestic manufacturing is not happening in isolation.
Governments are increasingly encouraging local production, especially for critical medicines. Amgen’s investment aligns directly with that direction.
Expanding manufacturing capacity is not just about meeting current demand. It creates a foundation for future growth, allowing the company to scale production as new drugs and treatments are introduced.
The direction is becoming more defined.
You begin to recognize Amgen as a company building long-term strength through infrastructure, positioning itself for stability and expansion in a changing global environment.
Top Winners and Losers
Global Business Travel Group [GBTG] $9.34 (+57.50%)
American Express GBT surged on 77x average volume after GameStop CEO Ryan Cohen made an unsolicited $56B bid for eBay, lifting sentiment across travel and consumer platforms tied to corporate spending.
GBTG carries a Strong Buy consensus and a $4.89B market cap. The eBay bid put a spotlight on undervalued consumer platforms, and GBTG caught the wave.
Rallybio [RLYB] $14.13 (+50.44%)
Rallybio rocketed 46.44% on 168x relative volume after releasing positive data on its lead rare disease program.
The biotech carries no revenue yet but holds a Neutral analyst rating and a $72.89M market cap. When volume runs at 168x normal on a catalyst-driven day, the move is real.
Clene Inc. [CLNN] $8.18 (+33.31%)
Clene jumped 34.05% on 276x relative volume, driven by a clinical update on its CNS drug pipeline targeting neurological disease.
The $96.94M market cap biotech holds a Strong Buy consensus. Volume at 276x average is not noise; institutional buyers stepped in hard.
Cogent Communications [CCOI] $16.34 (-29.32%)
Cogent dropped 29.45% on 7.28x average volume with no single announced catalyst, pointing to a technical breakdown compounded by rotation out of communications infrastructure.
At negative $3.82 EPS and an 8.92% dividend yield, the income play looks fragile. The volume spike confirms institutional exit, not retail panic.
Universal Logistics Holdings [ULH] $16.16 (-27.86%)
ULH fell 28.04% as Amazon’s new Supply Chain Services launch threatened to displace third-party logistics providers overnight.
The transportation sector was the session’s most punished group. Universal carries a Neutral rating and negative $4.15 EPS.
No cushion when the biggest disruptor in the world targets your market.
Forward Air [FWRD] $16.23 (-23.91%)
Forward Air dropped 23.68% on 4.35x volume as Amazon’s logistics announcement landed like a direct threat to its freight business.
The stock holds a Buy consensus but trades at negative $3.52 EPS. When Amazon enters your lane, the market does not wait for earnings to price the risk.
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Everything Else
🚀 Space stocks are heating up, as SpaceX’s reported $1.5 trillion June IPO pushes investors to figure out which names could run hardest before the listing hits.
🍦 Dairy Queen is pausing its Middle East expansion plans, signaling a more cautious approach as conditions in the region remain uncertain.
🚗 EU countries are pushing to finalize a trade deal with the U.S., aiming to avoid a potential auto tariff hike that could hit the sector hard.
📉 U.S. stocks edged lower as rising oil prices added pressure, showing how quickly energy costs can weigh on broader market sentiment.
🛰️ STMicroelectronics is targeting more than $3 billion in space chip revenue, signaling growing ambition to capture demand in the satellite and aerospace market.
🤖 Anthropic, Goldman Sachs, and Blackstone are launching a $1.5 billion AI venture aimed at private equity-owned companies, signaling how aggressively capital is moving to bring AI into portfolio operations.
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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