What Happened?

A number of stocks jumped in the afternoon session after the major indices rebounded (Nasdaq +1.5%, S&P 500 +1.0%) as reports pointed to easing tensions between Israel and Iran. 

The Wall Street Journal said senior Iranian officials had signaled a willingness to restart stalled nuclear talks, on the condition that Washington refrain from joining Israel's ongoing strikes. This development triggered a significant decline in oil prices, easing inflation concerns. Also, it is possible some investors were buying the dip following the sell-off at the end of the previous week.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Travel and Vacation Providers company Delta (NYSE: DAL) jumped 5.1%. Is now the time to buy Delta? Access our full analysis report here, it’s free.
• Department Store company Macy's (NYSE: M) jumped 5.3%. Is now the time to buy Macy's? Access our full analysis report here, it’s free.
• Industrial & Environmental Services company CECO Environmental (NASDAQ: CECO) jumped 5.5%. Is now the time to buy CECO Environmental? Access our full analysis report here, it’s free.
• Testing & Diagnostics Services company RadNet (NASDAQ: RDNT) jumped 5.2%. Is now the time to buy RadNet? Access our full analysis report here, it’s free.
• Genomics & Sequencing company 10x Genomics (NASDAQ: TXG) jumped 5.8%. Is now the time to buy 10x Genomics? Access our full analysis report here, it’s free.

Zooming In On 10x Genomics (TXG)

10x Genomics’s shares are extremely volatile and have had 50 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 20 days ago when the stock gained 5.6% on the news that the major indices rebounded (Nasdaq +2.0%, S&P 500 +1.5%) as President Trump postponed the planned 50% tariff on European Union imports, shifting the start date to July 9, 2025. Companies with substantial business ties to Europe likely had some relief as the delay reduced near-term cost pressures and preserved cross-border demand.

10x Genomics is down 22.4% since the beginning of the year, and at $11.01 per share, it is trading 53.1% below its 52-week high of $23.49 from August 2024. Investors who bought $1,000 worth of 10x Genomics’s shares 5 years ago would now be looking at an investment worth $124.46.

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