AIP - Hot Stocks: DDS leads sector lower; IMGN OLMA move on clinical data; AIP sets post-IPO high; BZUN hits low

Omicron and the Federal Reserve combined to send stocks reeling on Tuesday, with the S&P dropping by nearly 2%. Department store chains exemplified the slide, with the added catalyst of a Sell rating for one of the industry's biggest players. Dillard's (NYSE:DDS) lost nearly a fifth of its value after an analyst predicted that its earnings had peaked in 2021. Meanwhile, Nordstrom (NYSE:JWN) added to recent post-earnings weakness to set a new 52-week low. Macy's (NYSE:M) and Kohl's (NYSE:KSS) also posted notable declines. Outside the retail sector, drug development news represented a major catalyst. ImmunoGen (NASDAQ:IMGN) surged on positive results from an ovarian cancer clinical trial. However, Olema Pharma (NASDAQ:OLMA) lost three-fifths of its value on data from a breast cancer study. Elsewhere, recent IPO Arteris IP (NASDAQ:AIP) built on recent gains to reach its highest level since coming public about a month ago. Meanwhile, Baozun (NASDAQ:BZUN) dropped to a

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Hot Stocks: DDS leads sector lower; IMGN, OLMA move on clinical data; AIP sets post-IPO high; BZUN hits low