Friday Wrap: FDA Wins, Oracle Pain, Crypto Surge

Pharma Boost from FDA

MRK Merck received a major FDA approval today. Its combination therapy — belzutifan plus pembrolizumab — is now cleared to treat adults with renal cell carcinoma. The green light adds another label to Merck's oncology lineup and reinforces the bullish case built around its expanding cancer drug portfolio.

Oracle's Worst Week in 24 Years

ORCL is on track for its worst weekly performance since 2002. Despite the price pain, ORTEX data shows the stock's momentum score climbed from 48 to nearly 70 over the past month. Total ORTEX score sits at 74.8 out of 100. That gap between falling price and rising fundamentals score is drawing call buyers into September expiry options. Bears and dip buyers are fighting over direction right now.

ADBE adds to the software gloom. Jefferies slashed its target from $290 to $230 today. Leadership exits overshadowed an earnings beat. Bearish options remain active ahead of the June 18 expiry.

Crypto Gets a Lift

GLXY Galaxy Digital surged Friday. The move came after MS Morgan Stanley announced it will offer crypto trading to wealth management clients. Bitcoin and Ethereum ETFs also saw elevated activity. The news marks a meaningful step toward mainstream institutional crypto access.

Short Sellers Stay Busy

Bears kept up pressure across several names this week. CAR Avis Budget sits at 45.8% SI % of free float. HTZ Hertz is close behind at 44.5%. Rental car costs and EV fleet write-downs remain the core short thesis. Meanwhile, CBRS Cerebras saw its short interest spike from 6.3% to 25.6% in just seven days — the sharpest single-week move tracked this year. RH bucked the bearish tone, with analysts raising forecasts following a better-than-expected Q1 earnings print.