Cellectar, APLD, and Circle surge on big breakthroughs, while Lululemon and Brown-Forman plunge on tariffs and demand.
Sectors & Industries
June 9, 2025
Table of Contents
Cellectar Biosciences soared 66% in a single day after the FDA granted Breakthrough Therapy Designation for its lead candidate Iopofosine I-131 in treating Waldenstrom Macroglobulinemia (WM). The news positions Cellectar at the forefront of targeted radiopharmaceuticals and significantly boosts the commercial potential of its pipeline in rare hematologic cancers.
Applied Digital surged nearly 50% after announcing a 15-year, $7 billion hosting contract with AI infrastructure powerhouse CoreWeave. The agreement marks one of the largest long-term infrastructure deals in the AI space, validating APLD’s data center strategy and cementing its role in the AI buildout arms race. We flagged the stock back in March as a Level 2 trade, noting it was likely to keep rising after the 9% gain in two weeks we captured.
Circle Internet (CRCL) exploded onto public markets this week, surging 168% on Day 1 with most gains at the opening bid, after pricing at $31 and closing at $83.23. The stablecoin giant—issuer of the $60B USDC—traded as high as $123.49 in intraday action, marking a near 300% rally at the peak, triggering multiple volatility halts on the NYSE. The listing was upsized twice and priced above the already elevated range—clear evidence that valuation discipline was left at the door.
Circle’s IPO evokes full-blown 2021-style FOMO, joining names like CoreWeave and eToro in reigniting a risk-on mood in capital markets. With $578.6M in Q1 revenue (up 58.5% YoY) and $122M in adjusted EBITDA, Circle isn’t just riding hype—its reserve income from USDC-backed assets has become a core yield engine, especially as crypto adoption accelerates post-Trump’s return. It's trading at 10X revenues right now.
Market cap finished north of $16B, and bulls see this as a bellwether for fintech, crypto, and the broader IPO pipeline. NYSE President Lynn Martin called it “the first true spark” of an IPO resurgence. Still, questions loom over long-term sustainability—and whether the current euphoric pricing can hold once the dust settles.
Lululemon shares cratered 21%—their worst drop since 2020—after the athletic wear giant slashed full-year guidance and forecast Q2 revenue and EPS below Wall Street expectations. Despite topping Q1 earnings estimates ($2.60 vs. $2.58), comparable sales in the Americas fell 2%, signaling trouble in its core U.S. market.
The culprit? A toxic mix of consumer caution, fashion fatigue, and Trump-era tariffs. Lululemon now assumes 30% tariffs on China and 10% on other sourcing hubs like Vietnam, Indonesia, and Sri Lanka—impacting nearly its entire supply chain. CFO Meghan Frank confirmed the company will implement targeted price hikes, but warned they’ll be “modest,” as shoppers grow increasingly selective.
Gross margin beat at 58.3%, but full-year margin is expected to fall 110 bps—nearly double the prior forecast—due largely to rising import costs. CEO Calvin McDonald admitted U.S. performance “did not meet expectations” and called the environment “dynamic,” hinting at uncertainty around demand and trade policy.
With LULU down over 30% YTD, analysts fear the brand is losing momentum just as rivals ramp up promotions and looser-fit styles gain traction.
Brown-Forman (BF.B), the maker of Jack Daniel’s, plunged 18% after a disappointing Q4 earnings miss and a downbeat outlook for FY2026. Sales fell -7% YoY to $894M, with tequila and ready-to-drink categories slumping -14% and -6%, respectively. The company blamed consumer pullbacks, tariff uncertainty, and macro volatility, warning that both revenue and income could decline again this year.
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