AI Infrastructure and Mega M&A Deals Drive Record Trading as CoreWeave Surges 19.5% and Goldman Sachs Acquires NEOS for $2.25 Billion 

Mumbai, Aug 13: A dense calendar of corporate earnings, multi-billion-dollar mergers and acquisitions, and high-profile initial public offerings defined today’s Wall Street trading session, with investors gravitating heavily toward companies exposed to artificial intelligence infrastructure and strategic financial sector consolidations.  

The trading day witnessed robust share price appreciation across AI cloud providers, significant movements in consumer and industrial stocks following quarterly results, and a flurry of corporate actions, including share buybacks and dividend increases, that underscored management confidence in long-term earnings power. 

CoreWeave Shares Jump 19.5% on $104 Billion AI Compute Backlog and Vera Rubin Validation 

CoreWeave Inc (NASDAQ: CRWV) emerged as a clear market leader, with shares surging 19.5% to $107.90 after the company reported second-quarter revenue of $2.575 billion, up 112% year-over-year, and beating the consensus estimate of $2.56 billion. The AI cloud provider’s quarterly net loss narrowed to $626 million, or $1.14 per share, which was significantly better than the anticipated loss of $1.41 per share. The company’s backlog reached approximately $104 billion at quarter-end, rising from $99.4 billion in the first quarter, with an additional $25 billion in customer commitments secured in early third quarter.  

During the period, Meta committed an additional $21 billion in compute capacity, while CoreWeave signed a multi-year agreement with Anthropic and received a $6 billion capital commitment from quantitative trading firm Jane Street. Management stated that near-term capacity is effectively sold out, and the company also completed the industry’s first deployment validation of NVIDIA Vera Rubin NVL72 systems, further reinforcing its technological lead and driving the substantial after-hours rally. 

Nebius Group and ERock Rally on Unprecedented AI Contract Wins and Revenue Expansion 

Nebius Group NV (NASDAQ: NBIS) saw its shares climb 17.5% to $226.96 after the company reported a quarterly loss of 12 cents per share, beating the consensus estimate of 62 cents per share, alongside quarterly sales of $582.3 million which exceeded the $572.7 million consensus. The Nvidia-backed AI cloud provider disclosed that its AI cloud revenue surged 514% year-over-year to $575 million during the second quarter. The company closed four contracts averaging over $1 billion each with Reflection, Cohere, a US-based Neolab, and a quantitative trading firm, causing total contract value to nearly quadruple during the period. 

ERock Inc (NYSE: EROC) advanced 22.3% to $13.76 after reporting better-than-expected quarterly results and signing a 470 MW power supply equipment contract extension with Anthropic through 2028. This expansion pushed the company’s backlog to $1.7 billion, representing a tenfold increase year-over-year, which significantly boosted investor confidence in the company’s revenue visibility. 

Aehr Test Systems Gains 11.8% After Securing $22 Million AI Processor Order 

Aehr Test Systems (NASDAQ: AEHR) saw its shares jump 11.84% after announcing a $22 million production order from its lead wafer-level AI processor customer. The order includes multiple FOX-XP wafer-level burn-in systems, FOX WaferPak full-wafer contactors, and integrated FOX WaferPak Auto Aligners, with each system configured to test and burn in nine 300mm wafers simultaneously.  

The company expects to ship the systems over the next six months to the customer’s manufacturing partner in Taiwan. Management noted that the customer’s production plans contemplate additional capacity beyond this order, and Aehr continues to engage with other semiconductor companies following positive wafer-level benchmark results, signalling sustained demand for its advanced test solutions. 

Amcor, PFG, and Brinker Beat Estimates as Consumer Spending Holds Firm 

Amcor PLC (NYSE: AMCR) reported second-quarter earnings per share of $1.23, beating analyst estimates of $1.19 by $0.04, while revenue came in at $6.4 billion, surpassing the consensus estimate of $6.05 billion. Adjusted EBITDA increased 32% to $1.045 billion, and adjusted diluted EPS grew 23% to $1.23, largely driven by the transformative acquisition of Berry Global. The packaging company’s shares traded higher at $47.40, reflecting strong investor approval of the integration progress and synergy capture. 

Performance Food Group Company (NYSE: PFGC) reported fourth-quarter net sales of $18.0 billion, up 6.4% year-over-year, with total case volume increasing 3.5% and independent case volume rising 8.0%. Adjusted EBITDA rose 7.4% to $587.5 million, while adjusted diluted EPS increased 2.6% to $1.59. For the full fiscal year, net sales grew 7.2% to $67.8 billion, with adjusted EBITDA up 9.2% to $1.9 billion. The company also provided fiscal 2027 guidance, expecting adjusted EBITDA between $2.125 billion and $2.225 billion. Shares responded positively to the consistent market share gains and strong cash flow generation. 

Brinker International Inc (NYSE: EAT) announced fourth-quarter company sales of $1,521.2 million, up 5.0% compared to the prior year, with Chili’s comparable restaurant sales increasing 5.6%. Net income per diluted share increased 30.0% to $2.99, while adjusted net income per diluted share rose 23.3% to $3.07. For the full fiscal year, total revenues grew to $5,807.4 million, with operating income increasing 21.1% to $619.9 million. The company provided fiscal 2027 guidance, projecting total revenues between $6.15 billion and $6.27 billion and adjusted EPS of $12.60 to $13.40. Shares advanced as the company completed five consecutive years of Chili’s same-store sales growth. 

Global-e and Marex Group Deliver Record Revenues 

Global-e Online Ltd (NASDAQ: GLBE) reported second-quarter revenue of $299.0 million, an increase of 39% year-over-year, with gross merchandise value rising 44% to $2,089 million. Adjusted EBITDA expanded 62% to $62.4 million, with the margin increasing 300 basis points to 20.9%. The company raised its full-year 2026 outlook, now expecting revenue between $1,305 million and $1,355 million. Shares surged as the company reported strong volumes from existing merchants and the 2025 cohort of launched merchants, alongside significant operating leverage driven by AI efficiency gains. 

Marex Group Limited (NASDAQ: MRX) reported record second-quarter revenue of $695.8 million, up 39% year-over-year, with adjusted profit before tax increasing 56% to $165.9 million. The diversified global financial services platform reported revenue growth across all four business segments, with clearing revenue rising 16% to $161.3 million, agency and execution revenue up 35% to $351.0 million, market making revenue more than doubling to $118.2 million, and hedging solutions revenue growing 74% to $71.0 million. The company’s adjusted profit before tax margin expanded 250 basis points to 23.8%, reflecting increasing contribution from higher-margin infrastructure businesses. Shares rose on the back of record first-half profitability. 

WeRide Revenue Doubles as Liquidia Delivers Fourth Consecutive Profitable Quarter 

WeRide Inc (NASDAQ: WRD) reported second-quarter total revenue of RMB231.7 million (US$34.2 million), an increase of 82.2% year-over-year, with overseas revenue surging 164.4%. Gross margin expanded to 37.5%, driven by increased contribution from higher-margin L2++/L3 and overseas L4 businesses. The company’s global L4 fleet comprised approximately 3,400 vehicles as of July 31, including more than 1,800 robotaxis, and its robotaxi services expanded to Spain, Switzerland, Denmark, and Singapore. Shares increased as the company demonstrated rapid commercial monetization and improved domestic operational metrics. 

Liquidia Corporation (NASDAQ: LQDA) reported second-quarter net product sales of YUTREPIA of $170.4 million, up 31% from the first quarter of 2026, with approximately 5,900 unique patient prescriptions and more than 5,000 patients treated since launch. The company recorded its fourth consecutive quarter of increasing profitability, with net income of $74.7 million and adjusted EBITDA of $96.3 million. Cash and cash equivalents increased by $61.4 million to $284.2 million compared to the first quarter. Shares rallied as the company advances ten clinical studies supporting YUTREPIA and L606 across known and new indications for inhaled treprostinil. 

National Vision and T1 Energy Post Strategic Gains Amid Transformation Initiatives 

National Vision Holdings Inc (NASDAQ: EYE) reported second-quarter net revenue of $498.8 million, up 2.5%, with adjusted comparable store sales growth of 2.2%. Adjusted operating income increased 32.7% to $31.6 million, with the margin expanding 140 basis points to 6.3%. Adjusted diluted EPS rose to $0.25 from $0.18. The company raised its full-year adjusted operating income outlook to between $119 million and $139 million. Shares gained as management highlighted progress in shifting toward a healthier customer base and improving product mix. 

T1 Energy Inc (NYSE: TE) reported second-quarter net sales of $250.1 million, with G1_Dallas module production of 935 MW. The net loss from continuing operations was $36.9 million, while adjusted EBITDA was $10.7 million, including a pre-tax reduction in cost of sales due to $24.4 million of tariff refunds. The company announced a contract to supply 641 MW of solar modules to Clearway Energy Group and acquired foundational solar patents from Evervolt for $135 million. Shares traded higher as construction at the G2_Austin solar cell fab continued on track. 

Kontoor Brands Raises Full-Year Outlook and Announces $400 Million ASR Following Lee Divestiture 

Kontoor Brands Inc (NYSE: KTB), parent of Wrangler and Lee, reported second-quarter revenue of $584 million, up 19% year-over-year, including $114 million from Helly Hansen. Wrangler global revenue rose 2% to $469 million, while U.S. direct-to-consumer sales increased 9%. Reported gross margin expanded 970 basis points to 56.2%, while adjusted gross margin increased 710 basis points to 53.8%. Adjusted operating income rose 19% to $94 million, and adjusted earnings per share increased 13% to $1.06. 

Kontoor raised its full-year 2026 adjusted EPS outlook to $5.25-$5.35, implying 27%-29% growth, from $5.15-$5.25 previously. Adjusted gross margin guidance was raised to 49.8%-50.0%. Following the expected fourth-quarter completion of the Lee divestiture, the company plans to deploy $400 million of proceeds towards an Accelerated Share Repurchase agreement. Kontoor expects to return more than $900 million of capital in 2026 through share repurchases, dividends and voluntary debt payments. Shares rose following the updated outlook and capital return plans. 

Kornit Digital Leads Tech Earnings Surge with 79% ARR Growth as Shares Jump 4.7%; Riskified and Jumia Post Gains 

Kornit Digital Ltd (NASDAQ: KRNT), a leading provider of digital printing solutions for the fashion and textile industries, reported second-quarter revenue of $55.3 million, up from $49.8 million in the prior-year period. Annualised recurring revenue surged 79% to $33.8 million, reflecting strong adoption of its subscription-based business model. Adjusted EBITDA improved to $0.3 million from a $1.2 million loss, marking a return to profitability. The company guided for third-quarter revenue of $55 million to $60 million. Shares closed at $17.58, up 4.71%, having surged as much as 9% in premarket trading. 

Riskified Ltd (NYSE: RSKD), a leader in e-commerce fraud and risk intelligence, delivered 22% year-over-year revenue growth to $98.7 million, while adjusted EBITDA rose 84% to $3.9 million, demonstrating significant operating leverage. The company raised its full-year 2026 revenue guidance to $400 million to $410 million and adjusted EBITDA guidance to $33 million to $39 million. Shares closed at $5.27, reflecting a 0.94% gain, with the stock rising 14.32% over the past three months. 

Jumia Technologies AG (NYSE: JMIA), Africa’s leading e-commerce platform, reported revenue growth of 14% to $52 million and gross merchandise value growth of 20% to $216.3 million. The company narrowed its adjusted EBITDA losses by 36% and announced a $50 million capital raise, including a $25 million investment from the International Finance Corporation. Shares closed at $5.81, up 3.17%, having opened 7.9% higher and climbed as much as 7.66% during the session. 

Goldman Sachs and Bank of America Execute Strategic Acquisitions 

Goldman Sachs announced an agreement to acquire NEOS Investments, a provider of options-based income ETFs, in a deal worth up to $2.25 billion in cash and equity. NEOS manages $30 billion in assets across 19 funds, and the acquisition will bring Goldman Sachs Asset Management’s total ETF assets to approximately $130 billion, positioning it as a top-eight active ETF manager. The transaction consideration is subject to performance and service commitments and is expected to close in the first quarter of 2027. Goldman shares traded marginally higher as the deal builds on its previous acquisition of Innovator Capital Management, forming a broad options-based ETF franchise. 

Bank of America Corporation (NYSE: BAC) announced it will acquire up to a 49.9% stake in Jio Credit, the non-bank lending arm of Jio Financial Services, in a deal valued at 182.68 billion rupees ($1.92 billion). The transaction initially gives BofA a 26.5% stake, with the holding potentially rising to 49.9% after warrant exercise, valuing Jio Credit at approximately $3.8 billion. Bank of America shares reacted positively as the partnership provides access to India’s rapidly growing non-bank credit market, where credit is growing at over 14% across personal loans, gold loans, and small-business credit segments. 

Archer and Joby Slide 6.5% on Acquisition News 

Archer Aviation (NYSE: ACHR) announced it is acquiring three aerospace businesses from Boeing (NYSE: BA), with Boeing receiving a stake in Archer worth 19.75% of its Class A shares. The deal expands Archer’s defence business but comes at the cost of dilution, causing Archer shares to fall approximately 6.5%. 

Joby Aviation (NYSE: JOBY) announced it would acquire defence technology company Resonant Sciences for approximately $500 million, funding the deal with about $450 million in cash and $50 million in stock. Resonant designs advanced radio-frequency and mission systems for US national security customers and will become Joby’s dedicated defence business upon closing, expected in the first half of 2027. Shares of Joby also declined 6.5% as investors weighed the cash outlay and integration risks. 

Proficient Auto Logistics Inc (NASDAQ: PAL) announced a definitive agreement to acquire Hansen & Adkins for an upfront purchase price of $130 million, including assumed debt of approximately $75 million, plus $52 million in cash and $3 million in stock, with earnouts up to $22.1 million. The acquisition adds over 900 drivers and more than doubles owned fleet capacity. Concurrently, Proficient priced $75 million in convertible senior notes due 2033 at 5.50%, with proceeds used to refinance debt. Shares moved higher on the strategic expansion into the Canadian market. 

BAE Systems signed a Memorandum of Understanding with TUALCOM to explore collaboration on autonomous air capabilities, integrating advanced communications and electronic warfare technologies. This collaboration reflects the growing strategic relationship between the UK and Türkiye in defence technologies. 

Tech and Semiconductor Joint Ventures: eToro and TSMC Drive Industry Consolidation 

eToro announced it will acquire US-focused online brokerage TradeZero in a deal valued at $231 million, consisting of cash and up to 2.5 million newly issued Class A shares. The acquisition provides eToro with a faster path to launching new products in the US market and leverages TradeZero’s $80 million in annual revenue and 81% gross margin. The deal is expected to close in the first half of 2027 and be accretive to adjusted earnings per share in the first year. 

Taiwan Semiconductor Manufacturing Company (NYSE: TSM) and Sony Group announced they will form a $4.69 billion joint venture to develop and manufacture next-generation image sensors in southern Japan, with volume production expected in 2029. Sony will invest 465 billion yen ($2.92 billion) to become the controlling shareholder, while TSMC will invest 282 billion yen. The venture will use TSMC’s advanced process technology and serve as a core hub for image sensor production for smartphones. Shares of both companies traded positively on the strategic collaboration. 

IPO Debuts and Capital Raises: Londian Wason Opens 18% Higher as Vogenx Prices $81.3 Million Offering 

Londian Wason New Energy Tech Inc began trading on the New York Stock Exchange under the ticker FOIL, with shares opening 18.2% above the initial public offering price of $22.00 per ADS. The Chinese manufacturer of electrolytic copper foil priced approximately 4.3 million ADSs, generating $94.3 million in gross proceeds. The company, which was the largest supplier of lithium-ion battery copper foil globally by sales volume in 2025 with a 7.6% market share, saw strong demand for its offering. 

Vogenx Inc (NASDAQ: VOGX) priced its initial public offering of 6.25 million shares at $13.00 per share, the high end of its range, raising approximately $81.3 million in gross proceeds. The clinical-stage biopharmaceutical company focuses on therapeutics for metabolic dysfunctions, including post-bariatric hypoglycemia. Shares traded steadily on its debut. 

SunScout Holding Limited priced its IPO of 3.1 million Class A ordinary shares at $5.00 per share, with expected gross proceeds of $15.5 million. The clean-technology company, which develops autonomous solar-powered robotic mowers, received dual listing approval on NYSE American and NYSE Texas under ticker SNSC. 

Realty Income Corporation (NYSE: O) priced $875 million in 3.750% convertible senior notes due 2031, increasing the offering size from $750 million. The initial conversion price is approximately $72.72 per share, a 17.5% premium over the closing price. Net proceeds of approximately $859 million will be used for capped call transactions and share repurchases. Shares traded lower on the dilution concerns. 

Vertical Data Inc (OTCQB: VDTA) closed a private placement of 1,373,152 shares of common stock at $3.00 per share, raising approximately $4.12 million in gross proceeds, with no warrants or convertible securities issued. Shares traded marginally lower as the company raised capital for working capital purposes. 

Berkshire Hathaway Executes $4.5 Billion Buyback as Trimble Unveils $1 Billion Repurchase Plan 

Berkshire Hathaway (NYSE: BRK.A / BRK.B) repurchased $4.5 billion of its own stock during the second quarter of 2026, the largest quarterly buyback since 2023, compared to just $235 million in the first quarter. This marks the first major repurchase under new CEO Greg Abel, signalling management’s conviction that the stock remains undervalued. Berkshire’s Class A shares traded at $763,891.84, representing a roughly 7.93% discount to its intrinsic value estimate. Second-quarter operating earnings surged 16% to $12.98 billion. Shares dropped approximately 1.4% as the buyback-driven rally lost steam. 

Trimble Inc (NASDAQ: TRMB) announced its board authorised the repurchase of up to $1 billion in common stock, replacing a prior programme with $608.2 million remaining. The company also reported second-quarter revenue of $972 million, up 11%, beating estimates, though it posted a GAAP net loss of $471.7 million due to a $562 million goodwill impairment. Adjusted earnings came in at 86 cents per share, ahead of expectations. Shares climbed 4.2% to $60.40 in premarket trading. 

Pinnacle Bankshares Corporation (OTCQX: PPBN) declared a cash dividend of $0.33 per share, a 10% increase from the $0.30 paid last quarter, marking the fifty-sixth consecutive quarter of dividend declarations. 

The Gabelli Dividend & Income Trust (NYSE: GDV) declared monthly distributions of $0.15 per share for October, November, and December 2026, while Ellsworth Growth and Income Fund Ltd (NYSE American: ECF) declared a quarterly distribution of $0.22 per share, a 16% increase from the prior $0.19. 

Home Depot CEO Takes Medical Leave as Matthews International Appoints New Chief Executive 

Home Depot (NYSE: HD) announced that Chief Executive Officer Ted Decker will take a temporary medical leave of absence and is expected to return within a few months. Finance chief Richard McPhail and senior executive vice president Ann-Marie Campbell will oversee CEO operations during his absence. The company reports quarterly results on August 18. Shares traded marginally lower on the leadership uncertainty. 

Matthews International (NASDAQ: MATW) announced that Michael Whitehead will become Chief Executive Officer effective August 31, succeeding Joseph Bartolacci. Whitehead previously served as vice president and president of the Americas Welding Segment at Lincoln Electric Holdings. Shares reacted positively to the leadership transition. 

Today’s trading session demonstrated robust investor appetite for AI infrastructure plays, with CoreWeave, Nebius, and ERock delivering substantial gains on strong demand indicators and contract wins. Financial sector consolidation through major M&A activity involving Goldman Sachs and Bank of America underscored strategic expansion into high-growth segments. Corporate actions, including substantial share buybacks from Berkshire Hathaway and Trimble alongside dividend increases from Pinnacle Bankshares and Ellsworth Growth, reinforced management confidence across various sectors. New listings from Londian Wason and Vogenx attracted solid investor attention, highlighting continued vitality in the IPO market.  

Source 

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