The biotech sector saw extreme volatility, with AbCellera Biologics surging 43% after positive Phase 2 results for a hot flash treatment, while Sionna Therapeutics collapsed 92% following a failed cystic fibrosis drug trial. Several major acquisitions dominated the session, including Blackstone Infrastructure’s $1.5 billion purchase of MarineMax and Teledyne Technologies’ acquisition of Varex Imaging. Artificial intelligence infrastructure stocks declined, with Coherent and Lumentum falling over 12% and 6% respectively. Berkshire Hathaway reported 16% growth in second-quarter operating earnings, while Intel launched a $15 billion common stock offering.
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