Akamai's $11.6 Billion Anthropic Cloud Deal, TD SYNNEX's 9.87% Q3 Earnings Plunge Headline Transformative Week for US Stocks 

Mumbai, Sept 26: The week delivered a series of transformative corporate developments across US-listed companies, encompassing a landmark $11.6 billion AI cloud agreement, multiple multi-billion dollar acquisitions, mixed quarterly earnings, and significant capital-raising activities.  

The period witnessed sharp share-price movements driven by company-specific catalysts, ranging from a 399% surge in Beneficient to a 9.87 per cent decline in TD SYNNEX, underscoring the market’s sensitivity to earnings execution, strategic deals, and capital structure decisions. 

Akamai’s $11.6 Billion Anthropic Cloud Deal Lifts Shares 14% 

Akamai Technologies (NASDAQ: AKAM) announced a seven-year cloud services agreement with Anthropic PBC valued at approximately $11.6 billion, building on a previous $1.8 billion computing arrangement between the two companies. The deal includes warrants for Anthropic to acquire up to 5% of Akamai’s equity and has the potential to expand by an additional $9 billion, bringing the total potential commitment to approximately $20 billion.  

Under the agreement, Anthropic will utilise CPU capabilities from Akamai Cloud’s distributed AI infrastructure and software. Akamai also entered into a Build Request with Jabil Inc. on 24 September 2026, related to the transaction. This represents the largest contract in Akamai’s history and fundamentally transforms the company’s business structure, shifting it from a content delivery network provider to a major AI cloud infrastructure player.  

The deal provides unprecedented revenue visibility over seven years and validates Akamai’s distributed cloud computing strategy. Akamai shares soared in premarket trading, jumping over 21% before the open. The stock opened sharply higher and was up over 14% during the session. 

Priority Technology’s $1.6 Billion Go-Private Deal Spurs 34% Surge 

Priority Technology Holdings Inc. announced a definitive agreement to be acquired by an investor group led by Chairman and CEO Thomas Priore for $8.05 per share in cash. The stock rose 33.19% to $7.76 in trading on 21 September 2026, from the previous close of $5.82. The shares opened at $7.78 and moved as high as $7.82 during the session. The day’s low stood at $7.76, keeping the stock close to the proposed acquisition price of $8.05.  

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The move also brought the shares close to their 52-week high of $7.91, while remaining well above their 52-week low of $4.44. The proposed all-cash transaction values Priority Technology at approximately $1.6 billion in enterprise value. The investor group plans to acquire all outstanding common shares that it does not already own. The $8.05 offer represents a 38% premium to Priority’s closing price on 18 September. It also represents a 65% premium to the 7 November 2025 closing price. The transaction still requires regulatory approvals and approval from a majority of Priority’s unaffiliated shareholders. If completed, the deal is expected to close in the first half of 2027, after which Priority will become privately held. 

Telix’s $1.65 Billion ITM Acquisition Triggers 12% Share Fall 

Telix Pharmaceuticals Ltd (ASX: TLX) agreed to acquire Germany-based ITM Isotope Technologies Munich SE for an upfront consideration of $1.65 billion. Telix shares opened at A$17.10, compared with the previous close of A$17.85, and reached an intraday high of A$17.40. The stock fell to an intraday low of A$15.76, where it stood as of 4:10 p.m. AEST on 21 September, down 11.71%.  

The shares remain below their 52-week high of A$18.32 but are above their 52-week low of A$8.26. Under the deal, Telix will pay approximately $1.25 billion in shares, assume $302 million of ITM’s net debt, and cover other transaction-related costs. ITM shareholders are expected to receive 105.8 million Telix shares, giving existing Telix shareholders about 76.3% ownership of the combined company.  

Telix will also provide up to $700 million in additional consideration, linked to regulatory approvals and sales milestones for ITM-11, a treatment candidate for neuroendocrine tumours. ITM generated $273 million in revenue in 2025 and operates a distribution network across more than 65 countries. The transaction is expected to close by the end of 2026, subject to required approvals. 

Royal Caribbean’s $3 Billion Sandals Deal Weighs on Shares 

Royal Caribbean Group (NYSE: RCL) announced an agreement to acquire a 50% stake in Sandals and Beaches Resorts for approximately $3 billion. The stock fell 2.89% to $228.10 at 12:24 p.m. ET on 23 September 2026. The stock opened at $236.14, reached a high of $237.13 and touched a low of $222.22. The transaction will expand Royal Caribbean’s presence beyond cruises into the all-inclusive resort market.  

The companies plan to form a joint venture combining Sandals and Beaches’ Caribbean resort portfolio with Royal Caribbean’s cruise, private destination and vacation operations. Royal Caribbean said the deal values the resort business at around 10 times forward earnings before interest, taxes, depreciation and amortisation. The company has secured committed debt financing from Morgan Stanley to fund the acquisition. The transaction is expected to close in early 2027, subject to regulatory approvals and other customary conditions.  

Also Read: How to invest in US stocks 

Royal Caribbean expects the investment to contribute to earnings next year, although it has not provided details on the expected financial impact. The joint venture will focus on expanding the Sandals and Beaches portfolio and broadening distribution of vacation products. Sandals Executive Chairman Adam Stewart will retain a leadership role alongside Royal Caribbean CEO Jason Liberty. 

AutoZone’s $56.05 EPS Beat Drives 6.25% Share Rally 

AutoZone (NYSE: AZO) reported its fiscal fourth-quarter 2026 results, with diluted earnings per share of $56.05, above the analyst estimate of $54.30. The stock was trading at $2,978.55, up 6.25% or $175.30, at 1:30 p.m. EDT on 22 September 2026. The shares opened at $2,894.25, compared with the previous session’s close of approximately $2,803.25.  

AutoZone stock traded between an intraday low of $2,844.80 and a high of $2,999.30. Quarterly net sales increased 5.6% year-on-year to $6.595 billion, although they were slightly below the $6.71 billion consensus forecast. Investors also appeared to focus on the company’s improved profitability. Gross margin expanded to 53.3%, while operating profit increased 10.1% to $1.317 billion. Commercial sales were another key growth driver, rising 8.6% year-on-year to $1.913 billion during the quarter. 

TD SYNNEX’s Q3 Results Trigger 9.87% Share Plunge 

TD SYNNEX Corporation’s (NYSE: SNX) shares came under pressure on 24 September 2026 despite the company reporting third-quarter fiscal 2026 results above analyst expectations. The stock opened at $262.12, compared with the previous close of $287.80, and fell to an intraday low of $243.03. It reached a high of $266.42 during the session. As of 12:58 p.m. ET, TD SYNNEX shares were trading at $257.10, down 10.67%, or $30.70.  

The decline came despite adjusted earnings per share of $5.68, above the $4.64 analyst consensus, while revenue of $21.6 billion exceeded the $18.79 billion estimate. Revenue also rose 37.7% year-on-year. For the fourth quarter, TD SYNNEX forecast adjusted EPS of $5.65–$6.15 and revenue of $21.8–$22.6 billion, with both guidance midpoints above consensus estimates. The company also announced a quarterly dividend of $0.48 per share, up 9% year-on-year. The stock closed at $259.47, down 9.87%. 

Beneficient’s $130 Million Debt Plan Sparks 399% Rally 

Beneficient (NASDAQ: BENF) shares surged 398.79% to $2.68 at 11:49 a.m. ET on 23 September 2026, as investors reacted to the company’s strategy to eliminate approximately $130 million in disputed debt linked to former CEO Brad Heppner. The stock opened sharply higher at $2.92, compared with the previous close of $0.53, and touched an intraday high of $3.03 before retreating to a session low of $1.44.  

The alternative assets platform said it plans to eliminate indebtedness asserted by HCLP Nominees, L.L.C., along with equity interests held by Heppner and his affiliated entities. Beneficient also seeks to terminate remaining agreements with Heppner and invalidate amounts it says are purportedly owed under those arrangements. The proposed resolution would eliminate approximately $130 million of HCLP principal and accrued interest. It would also convert Heppner-related equity interests with an aggregate liquidation preference of about $850 million into 162,132 Class A common shares, while terminating contractual arrangements involving approximately $88 million. If completed, the resolution would eliminate substantially all of Beneficient’s debt and end Heppner’s Class B ownership and associated voting, board-appointment and consent rights. 

Select Water’s $700 Million Deal Boosts Shares 13% 

Select Water Solutions (NYSE: WTTR) announced a definitive agreement to acquire Delaware Basin-focused water midstream company Pilot Water Solutions for $700 million. The consideration comprises $600 million in cash, $100 million in Class A common stock, and up to $15 million in contingent cash payments upon achieving operational milestones in early 2027.  

Committed debt financing from JP Morgan Chase Bank and Bank of America, alongside existing cash, will fund the transaction. Pilot Water is forecast to generate adjusted EBITDA of $100 million to $110 million in 2026, increasing to $120 million to $130 million in 2027. Select is targeting $10 million to $15 million in annual cost synergies within 12 to 18 months. The deal is expected to close in the fourth quarter of 2026, subject to Hart-Scott-Rodino Act clearance.  

This is a transformational acquisition for Select Water Solutions, significantly expanding its water infrastructure footprint in the Delaware Basin. Water infrastructure is forecast to represent approximately 70% of Select’s pro forma profitability by 2027, with pro forma net leverage remaining below 2.0x at closing. Select Water shares rose 13% in after-hours trading on 24 September following the announcement. 

Eli Lilly’s $3.35 Billion InnoCare Deal Lifts Shares 3.24% 

Eli Lilly and Co. (NYSE: LLY) entered a five-drug research and licensing partnership with China-based InnoCare Pharma. The stock opened at $1,156.67, reached an intraday high of $1,197.79 and touched a low of $1,151.00. As of 3:06 p.m. ET, LLY shares were trading at $1,188.32, up 3.24%, or $37.33, from the previous close of $1,150.99. Under the agreement, Lilly will pay up to $100 million upfront, with InnoCare eligible for a further $3.25 billion in development and commercial milestone payments, alongside royalties on sales of medicines arising from the collaboration.  

The companies said InnoCare will use its drug discovery platform to discover and advance compounds against up to five targets addressing unmet medical needs. InnoCare focuses on oncology and autoimmune diseases and has more than 10 innovative candidates in clinical development. The company has three approved medicines in China, including Yinuoxin, Hibruka and Minjuvi. The deal adds to Lilly’s expanding China strategy, following its collaboration with Innovent Biologics worth up to $8.5 billion announced in February 2026. 

Grail’s FDA Panel Backing Drives 55% Share Surge 

Grail (NASDAQ: GRAL) shares surged after the company announced that a US regulatory committee voted to approve its Galleri multi-cancer early detection test. The FDA’s Medical Devices Advisory Committee voted 7-2 with one abstention that the test’s benefits outweigh its risks, 6-4 that the test was effective, and unanimously in support of its safety.  

The vote occurred on 23 September, but the stock continued to surge through 25 September morning. The Galleri test received Breakthrough designation in 2018 and a Premarket Approval (PMA) submission was submitted earlier this year. The FDA’s final decision is expected in the coming months. If approved, Galleri would be the first FDA-approved multi-cancer early detection test, representing a major breakthrough in cancer screening.  

The stock surged 55% through 25 September morning following the favourable panel vote. Grail Chief Executive Josh Ofman said: “Today’s vote reinforces the strength of Galleri’s clinical evidence. We believe the panel’s recommendations reaffirm a high evidence bar that GRAIL has set for a multi-cancer early detection test.” 

ADARx’s $446.3 Million Upsized IPO Debuts on Nasdaq 

ADARx Pharmaceuticals (NASDAQ: ADRX) completed its upsized initial public offering and began trading on the Nasdaq Global Select Market on 25 September 2026 under the ticker “ADRX.” The IPO priced at $17.00 per share, the top of the $15 to $17 range. The company offered 26.25 million shares, up from 21.875 million marketed. Gross IPO proceeds were $446.30 million.  

AbbVie made a concurrent placement of up to $100 million, bringing combined gross proceeds to approximately $535.20 million. AbbVie’s ownership will be approximately 4.90% of ADARx post-IPO. The underwriters have a 30-day option on up to 3.94 million additional shares. ADARx is a clinical-stage biotechnology company developing siRNA therapeutics for cardiovascular, thrombosis, and metabolic diseases including obesity. The successful IPO at the top of its range and upsized offering reflects growing investor appetite for biotech listings, particularly those with late-stage siRNA platforms targeting large markets. 

Redwire’s $980 Million Space Contract Lifts Shares 3.82% 

Redwire Corporation (NYSE: RDW) was selected as one of 15 vendors for a multiple-award contract with the US Space Systems Command valued at more than $980 million. The stock opened at $11.17, reached an intraday high of $11.86, and fell to a low of $11.01. As of 2:23 p.m. ET, Redwire shares were trading at $11.70, up 3.82%, or $0.43, from the previous close of $11.27. The contract, known as NITE-STAR, will support US national security testing infrastructure and operational readiness. Redwire will be eligible to provide design, development, integration, testing and sustainment services for space-based and ground-based systems.  

The company said the award does not guarantee revenue, as NITE-STAR is a multiple-award contract vehicle. The selection nevertheless expands Redwire’s access to potential work supporting the US Space Force and its national security portfolio. Redwire has approximately 1,400 employees across North America and Europe and provides spacecraft systems, digital engineering and space infrastructure solutions. 

Cognex’s $500 Million RealSense Buy Drags Shares 4.65% 

Cognex (NASDAQ: CGNX) shares fell after the company announced a $500 million all-cash agreement to acquire RealSense. The stock was trading at $59.11, down 4.65% or $2.88, at 1:33 p.m. EDT on 22 September 2026. Cognex shares opened at $63.39, compared with the previous session’s close of approximately $61.99. The stock touched a high of $63.39 and a low of $58.08.  

The acquisition is expected to close in the fourth quarter of 2026 and will be financed entirely through Cognex’s existing cash and investments. In addition to the $500 million purchase price, Cognex plans to provide a $56.5 million three-year cash retention programme for RealSense employees and issue restricted stock units valued at approximately $50 million.  

RealSense develops 3D robotic perception technology for applications including fixed-arm robots, autonomous mobile robots, quadrupeds and humanoid robots. The business is expected to generate $80 million to $90 million of revenue in 2026, representing more than 50% growth from the previous year. 

Cracker Barrel’s Q4 Earnings Beat Lifts Shares 5.99% 

Cracker Barrel Old Country Store Inc. (NASDAQ: CBRL) shares rose 5.99% to $48.20 at 12:13 p.m. ET, after the restaurant chain reported better-than-expected fourth-quarter fiscal 2026 results. The stock opened at $47.57, climbed to an intraday high of $49.16 and touched a low of $44.52.  

For the quarter ended 31 July, Cracker Barrel reported adjusted earnings per share of $0.99, significantly above the analyst consensus of $0.10. Revenue came in at $849.3 million, exceeding expectations of $828.78 million but declining 2.2% year-on-year from $868 million. Comparable restaurant sales fell 2.1%, while comparable retail sales increased 0.7%.  

Adjusted EBITDA rose to $62.1 million, compared with $55.7 million a year earlier, including a $9.1 million benefit from tariff refunds. The company also completed a sale-leaseback involving 26 stores, generating around $77 million in net proceeds used to reduce debt. It divested Maple Street Biscuit Company in July. For fiscal 2027, Cracker Barrel expects revenue of $3.325 billion-$3.4 billion and adjusted EBITDA of $180 million-$200 million. 

GoDaddy’s Gen Digital Takeover Approach Lifts Shares 4.85% 

GoDaddy Inc. (NYSE: GDDY) shares rose after a report that Gen Digital Inc. (NASDAQ: GEN), the owner of Norton and Avast, had approached the web-services company about a potential takeover. The stock opened at $97.22, reached an intraday high of $110.35 and touched a low of $94.70. As of 3:08 p.m. ET, GDDY shares were trading at $101.05, up 4.85%, or $4.67, from the previous close of $96.38.  

According to the Financial Times, Gen Digital made its initial approach in recent weeks, although discussions remain at an early stage. The report did not disclose financial terms, and there is no guarantee that the talks will result in a transaction.  

A potential combination would bring together GoDaddy’s domain registration, website hosting, website-building and payments services with Gen Digital’s consumer cybersecurity and identity-protection portfolio, which includes Norton, Avast and LifeLock. Gen Digital shares were reportedly down nearly 8% as investors assessed the potential deal. Both stocks had also faced pressure earlier in the week. 

Costco’s $95.72 Billion Q4 Revenue Beats Estimates 

Costco Wholesale Corp. (NASDAQ: COST) reported fiscal fourth-quarter 2026 results after the close on 24 September 2026, with both EPS and revenue exceeding consensus estimates. Revenue came in at $95.72 billion versus consensus of $94.86 billion. Net sales were $93.87 billion, up 11.2% from $84.43 billion in the fourth quarter of fiscal 2025. Net income was $2.998 billion, or $6.75 per diluted share, beating consensus of $6.52.  

The EPS figure includes a $0.15 per diluted share non-recurring benefit from IEEPA tariff refunds. Excluding this benefit, EPS was up 12.4% from $5.87 per diluted share last year. Comparable sales rose 9.4% in the quarter, or 6.7% adjusted for gas price inflation and foreign exchange. Digitally enabled comparable sales surged 19.5%. Membership fee income was $1.849 billion, up 7.3% year over year. Paid executive members totalled 42.3 million, up 9.4%. Renewal rates were 92.3% in the US and Canada, and 89.8% worldwide. 

Wheeler REIT’s 1-for-9 Reverse Split Lifts Shares 210% 

Wheeler Real Estate Investment Trust Inc. (NASDAQ: WHLR) shares surged 210.07% to $5.80 at 11:59 a.m. ET on 23 September 2026, following the company’s one-for-nine reverse stock split, which took effect at 5:00 p.m. ET on 21 September, with split-adjusted trading beginning on Nasdaq on 22 September. The stock opened at $5.20, reached an intraday high of $8.71 and touched a low of $4.75. Under the reverse split, every nine shares of WHLR common stock were consolidated into one share. The company had 5,113,901 common shares outstanding as of 17 September and expects approximately 568,211 shares to remain outstanding following the split. No fractional shares will be issued, with cash to be paid for fractional interests based on WHLR’s 21 September closing price.  

The reverse split does not alter shareholders’ relative ownership, voting rights or other rights, nor does it reduce the number of authorised common shares. The company also adjusted the conversion terms of its 7.00% subordinated convertible notes due 2031 and its Series B and Series D preferred stock proportionally. 

Oura Targets $2.2 Billion IPO at $15.6 Billion Valuation 

Smart ring maker Oura has launched its US initial public offering, targeting a fully diluted valuation of $15.62 billion and seeking to raise up to $2.2 billion. The company plans to sell 50 million shares at $40 to $44 each and expects to begin trading on the Nasdaq under the ticker “OURA” next week. Oura’s IPO comes as investors assess demand for consumer technology companies amid market uncertainty surrounding the AI trade, rising bond yields and expectations for Federal Reserve policy.  

The Finland-founded company reported $1.21 billion in revenue for the nine months ended 30 June, up about 74% from the same period last year. It sold 3.6 million rings over the 12 months ended 30 June and expects to finish fiscal 2026 with around 5.7 million paid members. Oura’s subscription service costs $5.99 a month and had 5 million paid members as of June. Its latest Oura Ring 5 is priced between $399 and $499. Eli Lilly has indicated interest in buying up to $100 million of the IPO, while Dragoneer could purchase up to $300 million. 

CoreWeave’s $4.2 Billion Notes Offering Completed 

CoreWeave (NASDAQ: CRWV) shares traded at $87.40, up 0.64%, at 1:40 p.m. ET on 23 September 2026, after the AI cloud company completed a $4.2 billion convertible notes offering. The stock opened at $88.98, reached a high of $90.36 and touched a low of $86.55. CoreWeave completed the 2.875% convertible senior notes due 2033, including an additional $500 million option exercised by initial purchasers. The company received $4.137 billion after purchaser discounts and before expenses.  

About $566.2 million was used for capped-call transactions, with the remainder intended for general corporate purposes. The notes have an initial conversion price of about $97.85 per share. Separately, Voyager Technologies (NYSE: VOYG) shares traded at $30.16, down 19.55%, at 1:40 p.m. ET, after announcing plans for a $350 million private placement of convertible senior notes due 2032. Voyager also plans to give initial purchasers an option for up to $52.5 million in additional notes. 

Other Notable Corporate Developments 

Several notable corporate developments occurred during the week. Welspun Tubular LLC, a wholly owned US subsidiary of Welspun Corp, secured its largest-ever HFIW pipe order worth approximately $412.5 million (Rs 4,000 crore), taking Welspun Corp’s global order book to a record $4.7 billion (Rs 45,000 crore). 

Lockheed Martin secured a US Army contract worth up to $1.2 billion for the Precision Strike Missile Increment 2 programme, while CAE won a $300 million US Air Force training contract. Syntec Optics announced its largest-ever order, supporting US Space Force infrastructure. 

Kodiak Gas Services secured a six-year, 76 MW power contract for a Texas data centre, while New Era Energy & Digital signed a 20-year power purchase agreement for its Texas data centre project. Their shares rose 30.90% and fell 2.81%, respectively. 

Artemis Gold agreed to acquire Vista Gold in a $427 million all-share deal, sending Vista Gold shares up 17.70%. Bio-Techne shareholders approved its acquisition by Merck KGaA. 

Blockchain.com and NYSE Group signed an MoU to explore tokenised US equities and ETFs. Scholastic reported first-quarter FY27 revenue of $216.8 million, below estimates, sending shares down 12.2% after hours. Madison Dearborn Partners also agreed to acquire The Marygold Companies for $85.4 million. 

The week underscored the market’s responsiveness to transformative AI cloud agreements, multi-billion dollar acquisitions, and earnings execution. Akamai’s $11.6 billion Anthropic deal validated distributed AI infrastructure, while TD SYNNEX’s 9.87% decline highlighted earnings sensitivity. Capital-raising activity remained robust across convertibles and IPOs. Defence, space, and data-centre power contracts continued to attract attention, while regulatory milestones in healthcare advanced. 

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