Celestica Soars, Exelixis Drops After Reporting Q2 2025 Earnings

In the second quarter of 2025, electronics manufacturer Celestica and oncology-focused biotech firm Exelixis both exceeded their earnings expectations, though their stock performances diverged.

Celestica, a Zacks Rank #1 (Strong Buy) company, reported strong Q2 2025 results, with sales spiking 21% year-over-year to $2.89 billion and earnings soaring 53% to $1.39 per share. The company's performance was driven by high demand for its communications and enterprise hardware products, which are heavily sought after by hyperscale clients investing in AI cloud infrastructure. Celestica's impressive Q2 results led to a 16% spike in its stock price, hitting a new all-time high of $208 per share.

Meanwhile, Exelixis, another Zacks Rank #1 stock, posted mixed Q2 2025 results. While the company exceeded bottom-line expectations with EPS of $0.75, its sales of $568.26 million missed estimates. Exelixis also announced it would be halting the development of its experimental head and neck cancer drug Zanzalintinib, citing competitive pressures and lackluster internal data. This news led to a nearly 17% drop in Exelixis' stock price on Tuesday.