Barrick Profit Surges 50% to $1.22B, Axsome Revenue Jumps 46%, Nvidia Eyes $500B AI Venture as M&A Accelerates 

Mumbai, 10 August 2026: US markets saw a flurry of corporate developments, with companies reporting strong earnings, announcing major funding plans and pursuing transformative deals. Barrick Mining posted a 50% profit surge to $1.22 billion, while Axsome Therapeutics delivered 46% revenue growth. Nvidia advanced plans for a $500 billion AI financing venture, highlighting continued infrastructure spending. Meanwhile, Bowman Consulting agreed to a $1 billion acquisition, underscoring renewed M&A activity across corporate America. 

Barrick Mining Reports 50% Profit Surge to $1.22 Billion, Shares Fall 6.73% 

Barrick Mining Corporation (NYSE: B) reported a strong second quarter, with net earnings rising 50% year over year to $1.22 billion, or $0.73 per diluted share, from $811 million. Adjusted EPS jumped 74% to $0.82, while revenue increased 44% to $5.29 billion, supported by higher realised gold and copper prices. Gold production reached 796,000 ounces, above its guidance of 730,000–770,000 ounces, while the realised gold price rose to $4,417 per ounce from $3,295 a year earlier. Operating cash flow increased 28% to $1.70 billion. Barrick also declared a quarterly dividend of $0.175 per share and repurchased $1.209 billion of shares. 

Operational performance benefited from the early restart of Loulo-Gounkoto, recovery at Pueblo Viejo and record underground production at Cortez. Gold cost of sales stood at $1,993 per ounce, while all-in sustaining costs were $1,866 per ounce. Copper production fell 5% year over year to 56,000 tonnes. 

Barrick also reached an agreement with Newmont to expand the Nevada Gold Mines joint venture, involving Fourmile, Mike and Fiberline and a $1.95 billion cash top-up payment. Despite the strong results, Barrick shares fell 6.73% to $40.74, amid profit-taking and broader rotation out of mining stocks. 

Nvidia Partners with Wall Street Firms on $500 Billion AI Financing Venture 

Nvidia Corporation (NASDAQ: NVDA) is working with a group of financial firms including Apollo Global, Blackstone, BlackRock’s Global Infrastructure Partners, Brookfield Asset Management, Goldman Sachs and KKR to put together a $500 billion funding package for AI infrastructure development.  

The tie-up highlights Nvidia’s efforts to raise capital for the chips, power generation and data centres underpinning the AI boom. The company had previously announced in June it would raise $25 billion through a US bond issuance, tapping the debt market for the first time since 2021. Big Tech companies have signalled spending on AI would not slow down, with combined outlays set to surpass $730 billion this year. Shares fell 2.15% to $219.14 on the Nasdaq. 

Intel Announces $15 Billion Stock Offering to Support Accelerating AI Demand 

Intel Corporation (NASDAQ: INTC) announced a $15 billion common stock offering to support skyrocketing customer demand for artificial intelligence computing power. The chipmaker highlighted physical AI, purpose-built silicon and advanced packaging among major growth opportunities. The announcement includes a 30-day option allowing underwriters to purchase an additional $2.25 billion in common stock.  

Technology giants have boosted capital expenditures to support AI infrastructure, with spending on track to hit $765 billion this year and $1.2 trillion in 2027, according to Goldman Sachs estimates. Last month, Intel posted its fastest revenue growth in nearly 15 years and hiked capital expenditures guidance to $20 billion, citing strong customer demand. The stock has surged 175% in 2026 and quintupled in value over the last year. Shares fell 2.89% to $98.71 on the Nasdaq 

Newmont Corporation Gains 3.15% on $1.95 Billion Settlement and JV Expansion 

Newmont Corporation (NYSE: NEM) advanced 3.15% to close at $116.54, as the company reached an agreement with Barrick to contribute its Fiberline and Mike developments into the Nevada Gold Mines joint venture. The resolution of all outstanding disputes positions both companies to maximise the value of the joint venture. Newmont shares have traded between $67.11 and $134.88 over the past 52 weeks. 

Axsome Therapeutics Posts 46% Revenue Growth to $218 Million, Shares Climb 4.17% 

Axsome Therapeutics (NASDAQ: AXSM) reported second-quarter net product revenue of $218 million, up 46% year-over-year, driven by strong AUVELITY sales of $180.3 million, rising 51% year-over-year and 18% sequentially. The New York-based biopharmaceutical company posted a net loss of $51.3 million ($0.99 per share), compared with $48 million ($0.97 per share) in the prior-year quarter, as SG&A expenses increased to $208.1 million from $130.3 million due to commercialisation activities. The company received FDA acceptance of its AXS-12 application for cataplexy in narcolepsy, with a target action date of May 1, 2027. During the first eight weeks after the Alzheimer’s disease agitation launch, new-to-brand prescriptions among patients aged 65 and older rose 126%. Axsome’s late-stage pipeline could support approximately one new drug application filing annually through 2030. Shares rose 4.17% to $221.62 on the Nasdaq. 

Monday.com Beats Earnings by 29.83%, Stock Falls 5.88% Despite Revenue Growth 

Monday.com (NASDAQ: MNDY) reported quarterly earnings of $1.48 per share, beating the Zacks Consensus Estimate of $1.14 by 29.83%, compared to $1.09 per share a year ago. Revenue came in at $364.62 million, surpassing the consensus estimate by 2.72% and representing a 22% increase from $299.01 million.  

The Tel Aviv-based project management software developer has surpassed consensus EPS estimates four times over the last four quarters. Despite the beat, shares fell 5.88% to $87.65, reflecting ongoing market rotation away from high-growth technology names. 

RadNet Tops Estimates by 45%, Shares Rally 5.84% on Record Revenue 

RadNet Inc. (NASDAQ: RDNT) reported adjusted earnings of $0.29 per share on revenue of $622.7 million, beating estimates of $0.20 and $610 million. Total revenue rose 25% year-over-year from $498.2 million, while adjusted EBITDA increased 22.7% to a quarterly record of $99.7 million.  

The Los Angeles-based outpatient diagnostic imaging provider reported advanced imaging procedures rose 21.2% overall, with MRI volumes up 21%, CT volumes rising 20.9%, and PET/CT procedures increasing 31%. Digital health revenue grew 56.5% with annual recurring revenue nearly doubling to $105.5 million. The company raised full-year guidance for imaging centre revenue, adjusted EBITDA and free cash flow. Shares rallied 5.84% to $76.61. 

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National Energy Services Reunited Jumps 23.98% on Record $520.8 Million Revenue 

National Energy Services Reunited Corp. (NASDAQ: NESR) reported record second-quarter revenue of $520.8 million, reflecting a 59.1% year-over-year increase and 28.7% sequential growth. Net income improved 189.6% to $44.0 million ($0.43 per diluted share), representing an 85.8% sequential increase. The Houston-based energy services provider, operating primarily in the Middle East and North Africa, generated adjusted EBITDA of $106.2 million, up 50.5% year-over-year.  

Operating cash flow grew 466.6% to $174.0 million, while free cash flow reached $99.9 million. The company reduced net debt to $99.6 million from $185.3 million at year-end 2025. Shares surged 23.98% to $35.98 on the Nasdaq. 

Camtek Beats Q2 Estimates with $133.2 Million Revenue, Shares Slip 2.35% 

Camtek Ltd. (NASDAQ: CAMT) reported second-quarter revenue of $133.2 million, up 8% year-over-year and 10% sequentially, surpassing Wall Street estimates. Adjusted earnings came in at $2.34 per share, beating the $2.23 forecast.  

The Israeli semiconductor equipment manufacturer reported advanced packaging accounted for approximately 75% of revenue, with management expecting that share to rise to about 80% by the fourth quarter. Order intake topped $600 million year to date, with deliveries extending into 2027. Net income was $39.4 million ($0.78 per diluted share). Despite the beat, shares slipped 2.35% to $46,200 on the Tel Aviv Stock Exchange. 

CECO Environmental Reports Record Orders of $798.5 Million, Shares Edge Down 0.25% 

CECO Environmental Corp. (NASDAQ: CECO) delivered a record-setting second quarter, with orders of $798.5 million, up 191% year-over-year, and backlog exceeding $1.8 billion, up 164%. Revenue rose 54% to $285 million.  

The Addison, Texas-based industrial company reported a net loss of $34.8 million, compared with net income of $9.5 million in the prior-year quarter, primarily due to acquisition-related costs. Non-GAAP net income increased 147% to $21.5 million, while adjusted EBITDA rose 73% to $40.2 million. The company raised full-year 2026 revenue guidance to $1.300 billion–$1.375 billion with adjusted EBITDA expected between $200 million and $225 million. Shares edged down 0.25% to $70.74. 

Cloudflare Announces $2.175 Billion Convertible Notes Offering 

Cloudflare Inc. (NYSE: NET) announced its intention to offer $2.175 billion aggregate principal amount of convertible senior notes due 2031 in a private offering to qualified institutional buyers. The company expects to grant initial purchasers an option to purchase an additional $325 million aggregate principal amount of notes. The notes will be senior, unsecured obligations bearing interest payable semi-annually, maturing on August 15, 2031.  

Cloudflare expects to enter into capped call transactions to offset potential dilution upon conversion, with the cap price representing a premium of at least 150% over the last reported sale price on the pricing date. Proceeds will be used to pay the cost of capped call transactions and for general corporate purposes including working capital, capital expenditures, repayment of outstanding indebtedness, and potential acquisitions. Shares rose 2.44% to $307.60. 

TPG Mortgage Investment Trust Acquires Cherry Hill for $117.5 Million in Cash-Stock Deal 

TPG Mortgage Investment Trust (NYSE: MITT) announced a definitive merger agreement to acquire Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) in a transaction valued at $117.5 million. CHMI stockholders will receive 0.3063 shares of MITT common stock and $0.93 in cash per share, representing a 29% premium to CHMI’s closing price on August 7, 2026, and a 32% premium to the 30-day volume-weighted average price. MITT stockholders are expected to own approximately 73% of the combined company’s equity, while CHMI stockholders will own approximately 27%. The combined investment portfolio is expected to reach $9.0 billion, consisting of 72% non-agency residential credit, 14.4% agency RMBS and mortgage servicing rights, 12.6% home equity and 1% other investments.  

The companies expect annual operational efficiencies of $7 million to $9 million, with the transaction expected to close in the fourth quarter of 2026, subject to stockholder and regulatory approvals. MITT shares declined 11.50% to $6.28 on the NYSE, while CHMI shares jumped 12.45% on the acquisition premium. 

Bowman Consulting Acquired by Bernhard Capital Partners for $1 Billion All-Cash Deal 

Bowman Consulting Group Ltd. (NASDAQ: BWMN) entered into a definitive agreement to be acquired by Bernhard Capital Partners for $43.00 per share in cash, representing an enterprise value of approximately $1.0 billion. The all-cash transaction represents a 58% premium to Bowman’s unaffected closing share price of $27.23 on August 7, 2026, and a 57% premium to the company’s 30-day volume-weighted average share price. The Reston, Virginia-based engineering services and programme management firm will become privately held upon completion, with its common stock delisted from the Nasdaq Exchange.  

The transaction was unanimously approved by Bowman’s Board of Directors and is expected to close in the fourth quarter of 2026 or first quarter of 2027, subject to shareholder approval and regulatory clearances. A 35-day “go-shop” period allows Bowman to solicit alternative proposals until September 13, 2026. Holders of approximately 15.3% of Bowman’s current voting power have entered into voting agreements to support the transaction. Shares surged 55.77% to $42.42 on the Nasdaq. 

Archer Aviation Acquires Three Boeing Subsidiaries in Transformative Aerospace Deal 

Archer Aviation Inc. (NYSE: ACHR) signed definitive agreements to acquire three Boeing subsidiaries—Wisk Aero, SkyGrid and Insitu—in a transformative deal for autonomous aviation, electric vertical takeoff and landing aircraft, and unmanned systems. Boeing will receive a 16.5% stake in Archer and enter a strategic collaboration and technology-sharing arrangement.  

The acquired businesses have accumulated nearly two million combined flight hours, with Insitu providing an established uncrewed-aircraft systems business generating more than $200 million in annual revenue and supporting operations in 35 nations.  

Wisk has designed, built and flown six generations of eVTOL aircraft with more than 1,700 flight tests. SkyGrid supplies an aircraft-agnostic air-traffic-management solution for integrating automated aircraft into shared airspace. The transaction is expected to close by the end of 2026, subject to customary conditions including antitrust review. Archer shares rose 12.63% to $6.28 on the NYSE. 

Pinnacle Technology Solutions Acquires Network Solutions 

Pinnacle Technology Solutions LLC announced the acquisition of Network Solutions LLC, strengthening its ability to deliver AI-powered infrastructure, software, cybersecurity, professional services and managed services solutions to customers across North America.  

Founded in 2022, PTS is building a leading US hybrid IT solutions provider serving enterprise and public sector customers. Since 1989, NSI has built a strong reputation for delivering trusted technology solutions and customer support, bringing additional engineering talent, customer relationships and solution capabilities. Terms of the transaction were not disclosed. 

CoreCivic Announces $500 Million Accelerated Share Repurchase Agreement 

CoreCivic Inc. (NYSE: CXW) entered into an accelerated share repurchase agreement to repurchase $500 million of its common stock as part of its existing capacity of $755.8 million under the company’s expanded share repurchase programme approved on August 4, 2026. The Brentwood, Tennessee-based company will make a payment of $500 million on August 10, 2026, and expects an initial delivery of approximately 12.4 million shares.  

The final number of shares will be based on the average daily volume-weighted average price during the term, less a discount. The final settlement is scheduled prior to the end of the second quarter of 2027. The company updated its 2026 guidance, with diluted EPS expected between $15.62 and $15.82, up from $15.00–$15.20 previously, reflecting the reduced share count. Shares rose 2.94% to $33.22. 

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Globe Life Authorises $2.5 Billion Stock Buyback Programme 

Globe Life Inc. (NYSE: GL) announced a new authorisation to repurchase up to $2.5 billion of common stock under its existing share repurchase programme, effective August 15, 2026. The McKinney, Texas-based life and supplemental health insurance provider has returned nearly $11.5 billion to shareholders through buybacks since launching its repurchase programme in 1986. The company prioritises funding its insurance operations’ growth before deploying excess capital and expects to continue returning capital to shareholders through share repurchases in the absence of more accretive investment opportunities, subject to market conditions. Shares traded at $183.85. 

Monster Beverage Completes 2-for-1 Stock Split 

Monster Beverage Corporation (NASDAQ: MNST) completed its 2-for-1 stock split, effected in the form of a 100% stock dividend. The distribution occurred after the close of trading on August 10, 2026, with split-adjusted trading set to begin August 11, 2026. The split doubles the number of outstanding shares while halving the per-share price, making the stock more accessible to retail investors. The move reflects management’s confidence in the company’s continued growth trajectory. 

Defense Tech Firm Lyntris Targets $2.5 Billion Valuation in US IPO 

Lyntris, a Trive Capital-backed defense technology company, is targeting a valuation of up to $2.53 billion in its US initial public offering. The Falls Church, Virginia-based company and selling stockholders are seeking up to $528 million by offering 24 million shares priced between $19 and $22 apiece.  

Lyntris makes battlefield sensors and software for the US and its allies, involved in more than 200 active defence programmes with no individual programme accounting for over 7% of revenue. Its backlog more than doubled to $923.9 million as of June 30 from a year earlier. The company reported a net loss of $13 million on revenue of $241 million in the six months ended June 30, compared with a net loss of $9.7 million on revenue of $179.1 million a year earlier. Lyntris will list on the NYSE under the symbol “LYNX.” 

SPAC Inflection Point Acquisition VIII Files for $250 Million IPO 

Inflection Point Acquisition VIII, a blank check company led by Chairman Michael Blitzer, filed to raise up to $250 million in an initial public offering by offering 25 million units at $10 each. Each unit consists of one share of common stock and one-third of one warrant exercisable at $11.50. The SPAC plans to target North American and European businesses in disruptive growth sectors. The Miami Beach, Florida-based company plans to list on the Nasdaq under the symbol IPHXU. 

Eaglesky Acquisition Files for $100 Million IPO 

Eaglesky Acquisition filed for a $100 million initial public offering with the SEC. The blank-check company plans to list on the New York Stock Exchange under the ticker symbol ESA.U, offering 10 million units at $10 each. The company is led by CEO and Chairwoman Mia Jiang and will target middle-market growth businesses featuring strong management teams, revenue and earnings growth potential, and strong free cash flow generation. Maxim Group LLC is the sole bookrunner. 

RTX’s Raytheon Wins $745 Million Missile Defence Contract 

Raytheon, an RTX (NYSE: RTX) business, received a $745 million contract from the Missile Defense Agency for the production and sustainment of Standard Missile-3 Block IIA interceptors. The SM-3 IIA is a cooperatively developed programme between Japanese industry and Raytheon, featuring a larger rocket motor and enhanced kinetic warhead to engage short- to intermediate-range ballistic missile threats.  

Raytheon has made significant investments to expand capacity, including a recent $115 million expansion of its Alabama missile integration facility expected to increase integration and delivery capacity by over 50%. Production will be completed at Raytheon facilities in Tucson, Arizona, and Huntsville, Alabama. RTX shares rose 0.37% to $223.80. 

Voyager Technologies Wins US Space Force Contract 

Voyager Technologies (NYSE: VOYG) was awarded a contract by the US Space Force Space Systems Command to develop space-to-space communication capabilities for the Department of Defense. The company will develop a flight-ready waveform design capable of operating across various orbits with specific requirements for weight, power and design life, and will perform an on-orbit communication demonstration. The system is designed to connect spacecraft and systems across different orbits as part of a data transport architecture. Voyager shares rose 1.34% to $42.41. 

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California Resources Advances Carbon Capture and Data Center Development 

California Resources Corporation (NYSE: CRC) reported second-quarter production averaging 149,000 barrels of oil equivalent per day, delivering $338 million in adjusted EBITDAX and $151 million in free cash flow before working capital. Berry merger synergies reached approximately $103 million in annualised savings, exceeding the 2026 target six months early.  

The company began carbon dioxide injection and generated first revenue at its Elk Hills carbon capture and sequestration project, capturing about 270 tons of CO2 per day targeting annualised capture of 100,000 tons. CRC partnered with Beacon Data Centers to develop the proposed Golden Valley Technology Hub, a planned 275-megawatt, 100-acre data center campus using behind-the-meter power from CRC’s Elk Hills plant. The company announced a planned acquisition of Crimson’s approximately 2,000-mile pipeline network expected to improve market access and pricing flexibility. Shares rose 3.86% to $54.09. 

Highway Holdings Forms Energy Storage Joint Venture with Huahu 

Highway Holdings Limited (NASDAQ: HIHO) signed a master agreement to form a joint venture with Guangdong Huahu New Energy Technology Co., Ltd., a China-based manufacturer of battery energy storage systems marketed under the Wowtiger brand. The joint venture, Huahu International New Energy Technology Company Limited, is expected to be formed within 30 days, with Highway Holdings owning 57% and Huahu holding 43%.  

Initial contributions are valued at approximately $3.5 million, consisting of about $2.0 million in cash from Highway Holdings and approximately $1.5 million in products and technology from Huahu. The venture will market Wowtiger-branded energy storage products in Germany, Italy, the United States and designated South American markets. Highway Holdings will issue up to 400,000 restricted shares to Huahu as performance-based equity incentives. Shares rose 0.28% to $1.053. 

Lincoln Financial Announces CFO Transition, Shares Dip 0.91% 

Lincoln Financial (NYSE: LNC) announced that Chris Neczypor, Executive Vice President and Chief Financial Officer, has decided to leave the company to pursue another opportunity outside the industry. Adam Cohen, Senior Vice President, Chief Accounting Officer and Treasurer, has been appointed Interim Chief Financial Officer, effective immediately. Neczypor will remain with Lincoln through the end of August to ensure a smooth transition.  

The Radnor, Pennsylvania-based insurance and financial services company will conduct a comprehensive search process to identify a permanent CFO, considering both internal and external candidates. Shares declined 0.91% to $45.61. 

The transformative agreements between Barrick and Newmont, coupled with Intel’s $15 billion stock offering and Nvidia’s $500 billion AI financing venture, highlight the scale of capital deployment across mining and technology sectors. The premium acquisitions of Bowman Consulting and Cherry Hill Mortgage underscore continued M&A activity, while strong earnings from Axsome, RadNet and National Energy Services demonstrate operational momentum across healthcare and energy services. 

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