Stocks break winning streak as oil rises amid strikes in the Middle East

Key Points:

• Quantinuum's shares opened 13% above its $60 IPO price at $68 on Nasdaq, raising $1.68 billion and reaching a market cap over $17 billion, reflecting strong investor appetite for quantum computing exposure.
• Applied Aerospace & Defense shares rose on their second trading day but remained below the $20 IPO price, with a valuation around $3.5 billion; the company supplies aerospace components to major defense contractors amid rising geopolitical tensions.
• Despite beating Q2 expectations and raising its full-year revenue outlook to $6.3 billion, Ciena's stock fell sharply, though it has gained over 150% year to date, driven by strong growth in its Optical Networking and Routing and Switching segments.
• PVH shares plunged after lowering its full-year revenue guidance due to geopolitical tensions impacting EMEA sales, despite solid Q1 earnings and growth in direct-to-consumer sales for Calvin Klein and Tommy Hilfiger brands.
• PVH CEO highlighted balancing brand momentum with Middle East conflict pressures, noting a 2% sales increase in Q1 and a return to profitability, while the stock remains up over 30% year to date despite the recent sell-off.