• Healthcare: MGNX (4.24 +41.17%), DERM (6.29 +24.06%), STAA (32.12 +20.34%)
• Materials: BAK (4.89 +32.38%)
• Industrials: ENPH (52.91 +45.16%), CSTE (1.71 +23.91%)
• Consumer Discretionary: BZH (22.17 +18.11%), ARMK (53.18 +17.97%)
• Information Technology: SEDG (61.68 +49.35%), TSEM (274.31 +29.99%), AAOI (189.29 +27.09%), DDD (3.03 +22.47%), CSCO (118.19 +22.39%), PANW (242.74 +16.77%), FN (724.63 +16.64%)
• Energy: TUSK (3.21 +34.31%), KOS (3.25 +18%)

• Healthcare: RGNX (5.72 -45.78%), FATE (1.77 -26.15%), STIM (1.30 -21.75%), SLP (13.27 -20.44%), PACB (1.13 -20.21%)
• Industrials: REZI (28.24 -28.96%)
• Consumer Discretionary: SNBR (1.6 -44.04%), EYE (17.44 -24.04%), JACK (10.8 -21.72%), UAA (5.15 -19.98%)
• Information Technology: UPLD (0.73 -26.01%), SABR (1.59 -22.82%), CNDT (1.38 -21.88%)
• Financials: PRAA (15.22 -20.65%)
• Consumer Staples: EPC (16.01 -24.66%), BGS (4.20 -21.59%)

• Co has successfully closed its previously announced acquisition of 100% interest of certain claims adjacent to Springer (the "WO Claims") from GoldPlay LLC and Robert Schafer

• Kentucky American Water today filed a request with the Kentucky Public Service Commission (PSC) for new rates to support approximately $108 mln in ongoing water system investments from January 1, 2027, through December 31, 2027. The request reinforces the company's commitment to implementing critical system upgrades and continuing to improve water quality and reliability for its more than half a million people served.

• Co announces that the planned May 17 launch of its HIBLEO-4 replenishment satellites with SpaceX has been postponed to allow more time for Globalstar teams to prepare the satellites for launch. A new launch date will be shared once confirmed.
• The mission remains focused on replenishing Globalstar's existing low Earth orbit constellation in support of continued network resilience and service reliability.

• The company announced the closing of its underwritten public offering of 5,253,554 shares of the Company's common stock at a public offering price of $44.00 per share, consisting of 1,946,630 shares sold by the Company and 3,306,924 shares sold by Advantest America, Inc. (ATEYY)
• The gross proceeds to the Company from the sale of shares of common stock by the Company, before deducting underwriting discounts and commissions and estimated offering expenses, were approximately $85.7 mln.

Stocks ended a record-setting week on a lower note, with the S&P 500 (-1.2%), Nasdaq Composite (-1.5%), and DJIA (-1.1%) retreating from recent record highs amid a surge in oil prices and Treasury yields.

Crude oil futures settled today's session $4.33 higher (+4.3%) at $105.49 per barrel amid fears that the U.S. could re-engage in military operations against Iran after the summit between President Trump and President Xi failed to produce any meaningful policy changes.

The lack of surprises from the summit also included no mention of NVIDIA (NVDA 225.32, -10.42, -4.42%) H200 chip sales to China, while China's pledge to purchase 200 Boeing (BA 220.49, -8.72, -3.80%) jets was largely in line with expectations.

More important than any individual stock move, though, was the upward pressure on Treasuries that sent yields to fresh highs for the year amid renewed inflation concerns tied to the rise in oil prices. The 2-year note yield settled up nine basis points to 4.08%, while the 10-year note yield settled up 13 basis points to 4.60%.

Higher interest rates reduce the present value of future cash flows, and the market has clearly been placing a significant premium on the long-term earnings potential tied to the AI buildout.

The PHLX Semiconductor Index finished 4.0% lower today, ending the week with a loss after several choppy sessions. Corning (GLW 191.92, -16.36, -7.85%) and Micron (MU 724.66, -51.35, -6.62%) were among the worst-performing components of the information technology sector (-1.6%).

However, the sector was supported somewhat by relative strength in software stocks, with the iShares GS Software ETF finishing 1.3% higher. Microsoft (MSFT 421.92, +12.49, +3.05%) was a "Magnificent Seven" standout after CNBC reported that Pershing Square has built a position in the company.

Meanwhile, Tesla (TSLA 422.04, -21.26, -4.79%) was a notable laggard, which pressured the consumer discretionary sector (-1.8%).

The sector also faced weakness across its homebuilder components due to rising interest rates, which weighed on building products names in the industrials sector (-1.8%) as well.

The rate-sensitive utilities (-2.4%) and real estate (-1.6%) sectors also underperformed, while the materials sector (-2.7%) finished with the widest loss amid broad weakness in metals and mining names.

Only the energy sector (+2.3%) managed to finish higher amid the surge in oil prices today.

Outside of the S&P 500, the Russell 2000 (-2.4%) and S&P Mid Cap 400 (-1.7%) underperformed amid the broad risk-off tone and renewed pressure on economically-sensitive and rate-sensitive stocks.

Overall, today's session was a reminder that the macro backdrop remains a meaningful headwind for equities even after a strong AI-fueled earnings season helped drive the market to repeated record highs in recent weeks. The market entered the year expecting roughly two Fed rate cuts in 2026, but persistent inflation pressures and the recent surge in oil prices have now shifted expectations toward the possibility of a rate hike next January. The question now is whether investors will once again step in to buy today's weakness across tech and semiconductor stocks, or if rising yields and inflation concerns begin to weigh more meaningfully on the market's momentum.

• Nasdaq Composite: +12.8% YTD
• Russell 2000: +12.6% YTD 
• S&P Mid Cap 400: +9.2% YTD
• S&P 500: +8.2% YTD
• DJIA: +3.0% YTD

Reviewing today's data:

• May Empire State Manufacturing 19.6 (Briefing.com consensus 6.2); Prior 11.0
• April Industrial Production 0.7% (Briefing.com consensus 0.2%); Prior was revised to -0.3% from -0.5%, April Capacity Utilization 76.1% (Briefing.com consensus 75.7%); Prior 75.7%
  
  • The key takeaway from the report is that it was underpinned by solid manufacturing output that was led by the production of durables. Excluding motor vehicles and parts, manufacturing output was up 0.3% month-over-month.

• Rani Therapeutics states Sanford advised the company May 12th, 2026 of his intent to resign.
  • In the interim, Mr. Sanford has agreed to continue serving as Chief Financial Officer during to ensure continuity and support an orderly transition of responsibilities until a successor is appointed or until an earlier date as may be mutually agreed between the Company and Mr. Sanford.
• Mr. Sanford and the Company have entered into a transition and separation agreement, dated May 15, 2026.

• AIR Limited, the global leader in flavored shisha molasses and pioneer in advanced inhalation technologies, announces the closing of its previously announced business combination with Cantor Equity Partners III, which was approved by CAEP shareholders at an extraordinary general meeting on May 12, 2026.
• In connection with the closing of the business combination, the AIR group will be publicly traded under the listing entity, AIR Global PLC, with its ordinary shares set to begin trading on Nasdaq under the ticker symbol "AIIR" on May 18, 2026.