BMO Q3 Earnings, Dick's Comps, McKesson Deal and Other Major Corporate Events Drive US Stock Moves Today

Mumbai, Aug 26: A flurry of corporate announcements ranging from earnings reports to multi-billion dollar acquisitions and strategic partnerships drove significant stock movements across US exchanges during today’s trading session. Bank of Montreal led the earnings pack with a 22% jump in adjusted profits, while Dick’s Sporting Goods tumbled after reporting disappointing results from its newly acquired Foot Locker operations. Meanwhile, McKesson announced a $2.25 billion acquisition, Nayax struck a $350 million deal, and EHang withdrew its annual guidance amid regulatory uncertainty. 

Bank of Montreal Q3 Adjusted EPS Rises 22% to C$3.96, Shares Gain 0.99% 

Bank of Montreal reported robust adjusted third-quarter results, with adjusted earnings per share rising 22% year-over-year to C$3.96 and adjusted net income reaching a record C$2.9 billion. Reported EPS was C$2.38, while net income stood at C$1.8 billion after a C$973 million charge, largely related to goodwill tied to the planned sale of its Transportation Finance and Vendor Finance businesses. Bank of Montreal shares were trading at C$174.06, up 0.99% in afternoon trading on the NYSE. 

CEO Darryl White said pre-provision, pre-tax earnings rose 13% to C$4.5 billion, while adjusted ROE increased 200 basis points to 14%. The bank expects to achieve a sustainable 15% ROE as it exits fiscal 2027. 

Total revenue increased 11% year-over-year, supported by higher wealth-management fees, debt underwriting, transaction payment services and lending fees. Expenses rose 9%, while the efficiency ratio improved to 54.9%. 

Canadian personal and commercial banking net income rose 15%, while U.S. banking net income increased 9%. Wealth Management income climbed 22%, and Capital Markets net income surged 45%, supported by a 20% rise in revenue. 

Credit provisions declined to C$722 million, while the CET1 ratio remained at 13%. The proposed buyback of up to 25 million shares, or about 3.6% of shares outstanding, also supported the capital-return outlook. 

Bank of Montreal shares rose 0.99% to C$174.06, indicating a positive market reaction to the strong adjusted earnings, improving profitability and capital-return plans. 

Dick’s Sporting Goods Q2 Comps Rise 4.9% but Shares Plunge 29% on Foot Locker Drag 

Dick’s Sporting Goods reported second-quarter results with the Dick’s Business delivering 4.9% comparable sales growth, supported by broad-based category gains and strong results from the 2026 FIFA World Cup. However, reported diluted EPS fell 26% to $3.50 from $4.71 a year earlier, reflecting the dilutive impact of 9.6 million shares issued for the Foot Locker acquisition. Dick’s shares traded at $127.20, down 29.14% in afternoon trading on the NYSE. 

The Foot Locker Business posted a 3.6% proforma comparable sales decline as athletic footwear conditions remained challenging and promotional activity increased. The promotional environment had a greater impact on Foot Locker due to its exposure to legacy footwear and dependence on launch and retro products. 

Total net sales rose 53.2% to $5.59 billion, including $3.85 billion from Dick’s and $1.74 billion from Foot Locker. GAAP net income fell 17% to $315 million, while non-GAAP net income declined 10% to $319 million. 

The company lowered its 2026 outlook, with consolidated operating income guidance reduced to $1.45 billion-$1.55 billion and diluted EPS forecast at $10.94-$11.94. It also incurred $125.8 million in pre-tax charges related to unproductive Foot Locker assets. 

Kanzhun Revenue Accelerates 14.1%, Shares Gain 4.5% as Active Users Surpass 70 Million 

Kanzhun Limited, operator of China’s BOSS Zhipin recruitment platform, reported second-quarter revenue of RMB 2,398.6 million ($353.5 million), up 14.1% year over year. Monthly active users reached a record 70.2 million, up 10.4%. Shares rose 4.50% to $16.14 following earnings announcement.  

Operating income increased 32.6% to RMB 863.2 million, and net income surged 173.1% to RMB 1,942.3 million. Founder and CEO Jonathan Peng Zhao attributed growth to investments in AI foundation models and broader AI adoption across recruitment products, including AI-hosted chats and interviews.  

Paid enterprise customers rose 10.8% to 7.2 million. Kanzhun also declared a $230 million annual dividend, alongside more than $300 million in year-to-date share buybacks. 

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Vipshop GAAP Net Income Soars 189% on REIT Gain but Shares Edge Lower on Non-GAAP Miss 

Vipshop Holdings reported second-quarter GAAP net income attributable to shareholders of RMB4.3 billion ($634.7 million), up 189.1% year over year, boosted by a RMB5.79 billion one-off investment gain from a commercial REIT listing. Non-GAAP net income fell to RMB392.2 million ($57.8 million) from RMB2.1 billion due to a one-time withholding tax adjustment. Revenue declined to RMB24.7 billion from RMB25.8 billion, while gross profit fell to RMB5.8 billion and gross margin to 23.3%.  

Active customers dropped to 42.3 million and orders to 182.4 million. Operating income fell to RMB1.5 billion. Shares traded at $14.18, down 1.01% despite positive earnings announcement. Vipshop Holdings Limited also authorized a new $1 billion share repurchase program on August 20, 2026, alongside its second-quarter 2026 financial results. 

EHang Revenue Rebounds 203% Sequentially but Shares Drop 11% on Guidance Withdrawal 

EHang Holdings reported second-quarter revenue of RMB77.9 million, down 31% year over year but up 203% from the first quarter, driven by higher EH216-S deliveries and one VT-35 aircraft. The company delivered 35 EH216-S aircraft and one VT-35. Gross margin was 61.2%, versus 61.5% a year earlier and 62.5% in Q1. Adjusted operating loss narrowed to RMB62 million from RMB77.1 million, while adjusted net loss improved to RMB58.5 million from RMB75.6 million.  

A late-June aviation accident in China delayed approval for passenger-carrying operations in Hefei. EHang expanded to 23 countries and expects a Thailand experimental flight permit in Q3. Shares fell 11.06% to $4.62, making it one of the day’s notable losers. 

SelectQuote Q4 Revenue Falls but Adjusted EBITDA Rises, Shares Decline 

SelectQuote reported fourth-quarter revenue of $321.7 million, down from $345.1 million a year earlier, while net loss was $16.8 million versus net income of $12.9 million. Adjusted EBITDA rose to $11.9 million from $2.7 million. Senior revenue was $72.5 million, with Adjusted EBITDA of $8.0 million, while full-year Senior revenue reached $575.9 million and Adjusted EBITDA $148.0 million.  

Healthcare Services generated $193.5 million, with 109,039 SelectRx members. Life revenue was $47.9 million, with Adjusted EBITDA of $9.8 million. For fiscal 2027, SelectQuote expects revenue of $1.35-$1.45 billion and Adjusted EBITDA of $90-$115 million. Shares traded significantly lower following the results. 

McKesson Announces $2.25 Billion Precision Medicine Deal; Valley National to Acquire Providence Financial for $247 Million 

McKesson Corporation announced a $2.25 billion acquisition of privately held Precision Medicine Group, expanding its clinical research, laboratory testing and drug commercialisation capabilities. McKesson shares rose 2.82% to $898.45 in afternoon NYSE trading.  

Precision Medicine Group will join McKesson’s oncology and multispecialty unit, where first-quarter fiscal 2026 revenue jumped 33% to $14.2 billion. The deal is expected to strengthen clinical trial execution and broaden services for biotechnology and pharmaceutical companies. Analyst Michael Cherny said the transaction complements McKesson’s portfolio without materially increasing risk, representing just over 2% of its market capitalisation. 

Separately, Valley National Bancorp agreed to acquire Providence Financial for approximately $247 million. Providence adds $1.6 billion in assets, $1.3 billion in deposits, $1.1 billion in loans and approximately $800 million in assets under management across 14 branches. The consideration comprises 4.3854 Valley shares plus $21.47 cash per Providence share.  

The transaction is expected to be approximately 2% accretive to earnings per share, with less than 1% tangible book value dilution and a sub-three-year earnback period. Valley National shares fell 0.89% to $13.98 in afternoon Nasdaq trading. Closing is expected in early 2027, subject to approvals. 

Nayax to Acquire IPS Group for $350 Million; Martin Marietta Completes Lhoist North America Acquisition 

Nayax agreed to acquire IPS Group from Windjammer Capital Investors for $350 million in cash, valuing the parking technology provider at approximately 17 times estimated 2026 adjusted EBITDA. Nayax shares rose 13.36% to $52.35 in afternoon Nasdaq trading.  

IPS manages more than 250,000 parking spaces and expects 2026 revenue above $90 million, with over 60% recurring revenue and approximately $21 million in adjusted EBITDA. Nayax will fund the deal with cash and $150 million of new debt, with net leverage expected at 3.8 times at closing and below 3.0 times by end-2027. EBITDA synergies are expected to exceed $8 million by 2029. 

Martin Marietta Materials completed its acquisition of Lhoist North America, adding more than 2 billion tonnes of limestone reserves. Shares rose 0.34% to $534.93 in afternoon NYSE trading. Lhoist operates across 29 US states, Canada and The Bahamas, supplying lime, limestone and industrial minerals. Financial terms were not disclosed. 

Olin and Huntsman Shareholders Approve All-Stock Merger; Soluna Partners With Bitdeer for 28 MW Bitcoin Mining Deployment 

Olin Corporation and Huntsman Corporation shareholders approved the proposed all-stock merger of equals, with approximately 97% of votes cast at Olin and 99% at Huntsman supporting the transaction. Olin shares fell 1.45% to $17.31, while Huntsman shares declined 1.09% to $9.50 in afternoon NYSE trading. The combined OlinHuntsman is expected to create a vertically integrated chemicals company with a broader global platform. The transaction is expected to close in the first half of 2027, subject to regulatory approvals. 

Soluna Holdings agreed with Bitdeer Technologies Group subsidiary Dory Creek to deploy approximately 28 MW of bitcoin mining equipment at Project Kati 1 in South Texas, representing about 1.93 exahashes per second of hash rate. Soluna shares rose 12.66% to $1.29 in afternoon Nasdaq trading. The 83 MW wind-powered data centre delivered its first gross profit in Q2 2026. Soluna provides the site, power and operations, while Bitdeer supplies and owns the mining equipment. Soluna has 192 MW of operating data-centre capacity and a 6.3 GW development pipeline. 

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SealingTech Wins $750 Million Cyber Defence Contract; NVIDIA and Lancium Partner on 15+ GW AI Factory Pipeline 

Sealing Technologies, a Parsons Corporation company, secured a five-year, sole-source production contract from US Cyber Command valued at up to $750 million. The agreement covers full-rate production of the Joint Cyber Hunt Kit, a standardised mobile defensive cyber platform for Joint Cyber Protection Teams. Parsons shares fell 1.93% to $47.87 in afternoon NYSE trading. The system provides security operations centre capabilities, enabling teams to detect, analyse and counter cyber threats across US and allied networks. Parsons’ Cyber and Electronic Warfare market contributes more than 20% of total company revenue. 

NVIDIA and Lancium announced a strategic collaboration to deploy NVIDIA technology across Lancium’s AI factory portfolio, while NVIDIA also made a strategic investment in the Blackstone-backed company. NVIDIA shares rose 2.02% to $212.70 in afternoon Nasdaq trading. Lancium has 4 GW of leased capacity and a development pipeline exceeding 15 GW. The companies will use NVIDIA DSX reference designs, including DSX MaxLPS, which can enable up to 40% more GPUs within the same power budget, and DSX Flex for grid-responsive power management. 

Madison Air Raises $2.25 Billion for ebm-papst Acquisition; Swvl Announces $13 Million Strategic Investment, 

Madison Air Solutions shares rose 9.38% to $27.29 in afternoon NYSE trading after the company announced a $2.25 billion private placement to fund its acquisition of ebm-papst. Madison Air will sell 90,108,130 Class A shares at $24.97 each. Chairman Larry Gies will purchase $300 million of shares, while Madison Solutions LLC will invest $320 million. The company expects the ebm-papst acquisition to require approximately $5.0 billion in cash at closing, funded by equity, about $2.8 billion of debt and cash. Pro forma net leverage is expected at 3.7 times, with a target below 2.5 times within two years. 

Swvl Holdings announced a $13 million private placement led by Coefficient LP, including a $10 million investment that will make it Swvl’s largest institutional shareholder. Swvl shares traded at $1.446 in afternoon Nasdaq trading. The company’s Q1 2026 revenue rose 68% to $8.2 million, while GCC revenue increased 111%, recurring revenue reached 88% and net dollar retention was 114%. Swvl will issue 8,990,317 Class A shares at $1.446 each. The transaction is expected to close on August 27, 2026. 

Expion Energy Raises $9 Million Through Convertible Debt Offering 

Expion Energy completed a private placement offering that raised $9.0 million through 8% Convertible Debentures and warrants. The offering generated net proceeds of approximately $8.2 million after deducting placement agent fees and estimated expenses. Expion shares were trading at $5.375, down 13.31% in afternoon trading on the Nasdaq. 

The convertible debentures carry an initial stated value of $1,000 per share and are structured to automatically convert into 9,000 shares of Series A-1 8% Convertible Preferred Stock, subject to shareholder approval. The preferred stock can be converted into common shares at an initial conversion price of $4.25 per share.  

The offering includes provisions for investors to purchase up to $91.0 million of additional convertible preferred stock in future closings. Five Narrow Lane LP, affiliated with Joseph Hammer, the company’s interim Chairman and former Chief Executive Officer, served as lead investor. 

Greif, Napco Security and Farmers & Merchants Bank Announce Quarterly Dividends 

Greif declared quarterly cash dividends of $0.62 per Class A share and $0.93 per Class B share, payable October 1, 2026, to shareholders of record as of September 17. Napco Security Technologies increased its quarterly dividend 13.3% to $0.17 per share from $0.15. Farmers & Merchants Bank of Long Beach declared a quarterly cash dividend of $28.00 per share, payable to shareholders of record as of September 15.  

The unusually high per-share payout reflects the bank’s high-priced, closely held stock structure. Greif is an industrial packaging products company with approximately 12,000 employees, while Napco provides electronic security products and services. 

Aggreko Files for US IPO Amid Data Centre Boom, Revenue Surges 28% 

Aggreko has filed for a U.S. initial public offering, the power supply company said, as it looks to tap investor appetite for energy infrastructure providers due to growing electricity demand. The Glasgow-headquartered company intends to list its ordinary shares on the New York Stock Exchange under the ticker symbol “AGKO,” but did not disclose the number of shares to be offered or the proposed price range. 

For the six months ended July 4, Aggreko’s revenue grew 28% to approximately $1.92 billion, helped by strong demand from data centres and other power-intensive industries. The company also recorded a profit from continuing operations of $80 million, compared with a loss of $196 million in the year-ago period. For the year ended January 3, data centre-related revenue nearly doubled to $391 million. Aggreko said it had $6 billion in secured net revenue as of July 2026, providing substantial visibility over future performance. 

The company was taken private in 2021 by investment firms TDR Capital and I Squared Capital. Aggreko has more than 17 gigawatts of capacity available across its fleet and serves over 14,000 customers globally across more than 80 countries. Goldman Sachs, J.P. Morgan and BofA Securities are serving as joint lead bookrunning managers for the offering, while Barclays and Morgan Stanley will be bookrunning managers. 

Haymaker Acquisition V Files for $250 Million SPAC IPO 

Haymaker Acquisition V, the fifth Haymaker blank check company targeting industrial and consumer products and services, filed with the SEC to raise up to $250 million in an initial public offering. The company plans to raise $250 million by offering 25 million units at $10, with each unit consisting of one share of common stock and one-fourth of a warrant to purchase a share, exercisable at $11.50. 

Haymaker Acquisition V is led by CEO, CFO and Chairman Christopher Bradley, a Managing Director of Mistral Equity Partners. Bradley previously served as an officer of the four prior Haymaker SPACs, most recently as CEO and CFO of Haymaker Acquisition 4 through its April 2026 merger with Suncrete. The West Palm Beach-based company was founded in 2025 and plans to list on the NYSE under the symbol HYACU. Cantor Fitzgerald and William Blair are the joint bookrunners on the deal. 

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Advasa Holdings Completes Direct Listing on Nasdaq at $12 Per Share 

Advasa Holdings, which provides earned wage access software to employers in Japan, completed its direct listing on the Nasdaq on Tuesday. In March 2026, the company raised about $16 million in a private placement at $10 per share. It opened for trading at $12 per share.  

Advasa Holdings is a financial technology company that develops and licenses earned wage access systems, enabling employees to access accrued wages prior to scheduled payday. The Tokyo-based company will trade on the Nasdaq under the symbol ADBT. As a direct listing without a firm commitment offering, there are no underwriters on the deal; WestPark Capital served as financial advisor. 

First Breach Completes Drone Prototype First Flight, Shares Decline 

First Breach announced the successful first flight of its drone prototype and an update on its strategic agreement with Hellbender to develop and domestically manufacture proprietary drone platforms. First Breach shares fell 29.51% to $1.44 in afternoon Nasdaq trading. CEO Jeffrey Low said the milestone marks the company’s expansion beyond ammunition into American-made unmanned aerial systems.  

Initial prototypes are expected in Q4 2026, with production scaling targeted for Q2 2027 at more than 2,500 drones per week. First Breach will own the platforms and intellectual property and control manufacturing and commercialisation, while Hellbender provides engineering, design, technical support and component manufacturing. The company operates approximately 80,000 square feet of manufacturing space in Hagerstown, Maryland. 

Nuwellis Enters Co-Promotion Deal for Cardiac Monitoring Device 

Nuwellis and Atrility Medical announced they have entered into a co-promotion and distribution agreement for Atrility’s AtriAmp device. Nuwellis shares were trading at $0.98, down 6.44% in afternoon trading on the Nasdaq. 

The companies will begin a six-month co-promotion program covering three Nuwellis sales territories across approximately nine Western and five Southeastern states. The AtriAmp is an FDA-cleared, sterile, single-patient-use device designed for patients with temporary epicardial pacing wires placed during cardiac surgery.  

Upon completion of the pilot program, Nuwellis is expected to transition to Atrility’s exclusive U.S. distributor for much of the country, purchasing products directly from Atrility and assuming responsibility for sales, distribution and order fulfillment. 

Today’s session was marked by divergent earnings outcomes, with Bank of Montreal exceeding expectations while Dick’s Sporting Goods faced significant headwinds from its Foot Locker integration. The M&A activity across healthcare, banking, and technology sectors suggests continued consolidation, with companies pursuing strategic acquisitions to strengthen market positions. The IPO pipeline remains active with Aggreko’s filing and Advasa Holdings’ direct listing, reflecting ongoing investor appetite for new listings despite market volatility. The substantial government contract awarded to Parsons’ subsidiary underscores the growing importance of cybersecurity spending, while the NVIDIA-Lancium partnership highlights the intense demand for AI infrastructure capacity. 

Source 

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