Biotech Stocks Surge Across the Board; Unity Jumps 12% on Q2 Earnings Beat

U.S. equities opened mixed on August 6, with Dow futures advancing more than 150 points while the S&P 500 and Nasdaq Composite oscillated near the flat line. Investors largely stayed on the sidelines ahead of the upcoming U.S. July nonfarm payrolls report and wholesale inventories data.

Sector action was highly uneven. A broad-based rally swept across biotech, sending multiple small-cap names 30% or higher. AI application stocks also strengthened, with Unity Software surging over 12% on an earnings beat and SoundHound AI climbing more than 14%. On the downside, energy-drink heavyweight Celsius Holdings sank over 16%, while plant-based meat producer Beyond Meat tumbled more than 10%.

Biotech sector erupts — multiple names soar 30%+

As of press time, Ensysce Biosciences (ENSC) skyrocketed over 75% to $0.63 on turnover of $332 million. Creative Medical Tech (CELZ) surged more than 63% to $1.09 with $122 million traded. Iovance Biotherapeutics (IOVA) jumped over 39% to $6.04 on volume of $274 million. Mangoceuticals (MGRX) rallied over 30% to $0.56.

The biotech complex saw a synchronized lift, with market expectations heating up around innovative drug pipeline progress and the FDA approval cadence, triggering concentrated short-term capital inflows into the sector. That said, most names posting intraday gains above 30% lacked a single material catalyst, reflecting a pattern more characteristic of short-term, liquidity-driven momentum in small-cap names.

AI application names strengthen — Unity surges 12%+

At last check, Unity Software (U) was up more than 12% at $39.88 on heavy volume of $1.56 billion. SoundHound AI (SOUN) rallied over 14% to $7.36 with $399 million traded.

Unity reported second-quarter results showing its advertising platform Vector grew 23% quarter-over-quarter, handily beating the company's internal forecast of 12% to 13%. Annualized revenue from the unit has already crossed the $1 billion mark, two quarters ahead of schedule. The company also pulled forward its GAAP net-profit inflection point to the third quarter from the previously guided fourth quarter. However, the Create segment's third-quarter guidance calls for only 7% to 10% year-over-year growth, with the strategic focus pinned on Unity 7 entering beta in the fourth quarter and runtime data monetization. Separately, Chamath Palihapitiya noted that Meta is pursuing scorched-earth pricing with AI models at just $0.69, drawing market attention to the competitive dynamics within the AI application layer.

Consumer names sag — Celsius tumbles 16%+

Celsius Holdings (CELH) sank more than 16% to $24.28 on turnover of $1.53 billion. Beyond Meat (BYND) dropped over 10% to $0.54 with $147 million traded. Figma (FIG) slumped over 17% to $23.19 on volume of $243 million.

Celsius has faced mounting scrutiny over decelerating market-share growth, with multiple institutions trimming their price targets. Elsewhere, Opendoor Technologies (OPEN) fell nearly 8% to $3.46, while Sunrun (RUN) declined more than 7% to $9.71.

In other notable movers, SpaceX (SPCX) gained over 5% to $114.32 on $1.12 billion in volume, with the market monitoring post-lockup price action. Nvidia (NVDA) edged up 0.81% to $221.00 on $302 million traded. Apple (AAPL) added 0.44% to $312.37, while Intel (INTC) dipped 0.13% to $100.93. Chime Financial (CHYM) surged over 22% to $31.84.