S&P 500 Falls 2.5% Amid Geopolitical Concerns
S&P 500 succumbed to another day of heavy selling amid geopolitical concerns on Tuesday, falling as much as 2.5% at one point, as fears of a protracted Middle East conflict that drew in multiple regional players roiled sentiment. Stocks recovered from the opening hour lows however as traders bought the beaten down Software Application names while also hiding out in the safety of high-yielding Telecoms. The opening hour of the evening session is seeing a calmer mood with equity futures down by only a decimal, even though investors remain on high alert for another "tape bomb" in a headline-driven volatile macro environment.In commodities, Gold and Silver were down sharply, refusing to act as stores of refuge, with a second consecutive session of much stronger U.S. Dollar denting precious metals. WTI Crude Oil is flat in electronic trade in the wake of a large build in inventories reported by API, having retreated below $74.50 after rising as high as $78 per barrel earlier.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Evolusup 17.4%B&G Foodsup 7.7%Ross Storesup 6.1%Boxup 3.5%Cricutup 2.8%ALSO HIGHER -Modernaup 8.0% after announcing litigation settlementDOWN AFTER EARNINGS -WEBTOON Entertainmentdown 14.3%GitLabdown 8.9%STAAR Surgicaldown 8.9%QuickLogicdown 3.7%Crexendodown 2.3%Crowdstrikedown 0.7%
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- Completion of P.R.O.O.F Phase: Conexeu Sciences Inc. has successfully completed the 12-month P.R.O.O.F phase, assessing the CXU platform's performance across facial, body, and mechanical pillars, laying the groundwork for a future 510(k) submission.
- Multiple Application Potential: The study's dual-arm design, featuring small-volume facial and large-volume body applications, showcases the CXU platform's potential across various soft tissue applications, particularly in the less competitive large-volume sector.
- Accelerated Market Path: Conexeu plans to submit its first 510(k) application in Q1 2027, leveraging the FDA's expedited review pathway to accelerate CXU's commercialization, although there is no assurance the FDA will accept the application on time.
- Strategic Platform Advantage: As a single formulation platform, CXU aims to provide a temporary structural environment for the patient's own tissue, with Conexeu's intellectual property strategy built around this formulation, supporting expansion across multiple soft tissue applications.
- Market Leader Introduction: Evolus has entered into an exclusive licensing and distribution agreement with Swiss IBSA to develop and commercialize Profhilo® in the U.S., a product that has become the market leader in injectable skin quality in Europe, with over 4.8 million treatments administered globally, indicating strong market potential.
- Strategic Market Expansion: By introducing Profhilo®, Evolus enhances its injectable portfolio and enters the rapidly growing and underpenetrated U.S. skin quality treatment market, addressing consumer demand for natural-looking and regenerative outcomes, which holds significant strategic importance.
- No Upfront Payment Economic Model: The agreement employs a transfer pricing model, with Evolus responsible for development activities required for U.S. regulatory approval and subsequent commercialization, and is not expected to impact the company's 2026 revenue and profit outlook, reflecting a disciplined, capital-efficient business development strategy.
- Strengthening Industry Leadership: By adding Profhilo® to its offerings, Evolus not only expands its product line beyond neurotoxins and dermal fillers but also reinforces its leadership position in the aesthetics industry, aiming for sustainable long-term value creation through a differentiated product portfolio.
- Porch Group Options Volume: Today, Porch Group Inc (PRCH) options have reached a trading volume of 10,284 contracts, equivalent to approximately 1 million shares, representing 50.9% of its average daily trading volume of 2 million shares over the past month, indicating a significant increase in market interest.
- High Call Option Activity: Within PRCH, the $17.50 strike call option has been particularly active, with 5,005 contracts traded today, representing about 500,500 underlying shares, suggesting that investors are increasingly optimistic about future price increases.
- Zscaler Options Dynamics: Concurrently, Zscaler Inc (ZS) options are also showing strong performance, with a trading volume of 23,193 contracts, equivalent to approximately 2.3 million shares, accounting for 49.9% of its average daily trading volume of 4.7 million shares, reflecting robust market interest.
- Concentrated Call Option Trading: For ZS, the $162.50 strike call option has seen a trading volume of 1,502 contracts, representing about 150,200 underlying shares, indicating a bullish sentiment among investors regarding the stock's future performance.
- Listing Milestone: Conexeu Sciences Inc. commenced trading on Nasdaq on May 21, 2026, marking a significant advancement for the preclinical-stage company centered around its CXU™ bioregenerative platform, which is expected to attract more investment for product development.
- Innovative Platform: The CXU™ is a patented bioregenerative extracellular matrix designed to restore soft tissue lost due to injury, aging, and GLP-1-related weight loss, with its first product, Ten Minute Tissue™, demonstrating enhanced healing dynamics and a low inflammatory profile in preclinical studies, potentially garnering significant market interest.
- Market Outlook: Conexeu enters a public market that is showing genuine commercial momentum, with competitors like Integra LifeSciences and Bioventus exceeding expectations in recent earnings reports, indicating strong demand in the regenerative medicine sector, and the listing is likely to enhance Conexeu's market share.
- Strategic Positioning: The listing not only provides Conexeu with the opportunity for capital formation but also enables the advancement of the CXU™ platform across multiple product lines, with plans to submit a 510(k) application in early 2027, further solidifying its position in the regenerative medicine field.
- Listing Milestone: Conexeu Sciences Inc. commenced trading on Nasdaq on May 21, 2026, marking its entry into public markets as a regenerative tissue platform company, which is expected to drive business growth in wound care and aesthetic medicine sectors.
- Platform Advantage: The company's CXU™ extracellular matrix platform is designed to scale across multiple markets without reformulation, a structural advantage that sets it apart from early-stage regenerative medicine companies and may lay the groundwork for future market share expansion.
- Innovative Reconstruction Method: Conexeu's B.R.E.A.S.T.™ matrix is a 3D bioprinted scaffold designed to support the body's own tissue regeneration rather than serve as a permanent implant, representing a potential paradigm shift for over 100,000 U.S. women undergoing mastectomies annually.
- Intellectual Property Protection: Conexeu holds issued patents across the U.S., E.U., Japan, and Australia with no royalty or licensing obligations, providing the freedom to expand into new indications and potentially accelerating its 510(k) submission process.
- Management Participation: Evolus's management team will participate in a fireside chat at the upcoming Jefferies Global Healthcare Conference on June 4, 2026, showcasing their expertise in aesthetics and likely attracting investor interest.
- Fireside Chat Timing: Scheduled for 12:50 PM ET, the chat will be accessible via the Investor Relations page on Evolus's website, enhancing interaction between the company and its investors.
- Webcast Replay Availability: A replay of the presentation will be available for 90 days post-event, ensuring that investors who cannot attend live can still access the information, thereby improving transparency and information dissemination.
- Company Background: Evolus is a global performance beauty company focused on redefining the aesthetic injectable market through its unique customer-centric business model and innovative digital platform, aiming to become a leader in the field.









