Elmet Surges 36% on $450M Defence Backing; RUM Jumps 15% on Anthropic; Hain Celestial Reports Fiscal 2026 Results

Mumbai, Sept 15: In a session defined by landmark federal investment in critical minerals, a sweeping cybersecurity sector rally, and a wave of healthcare and insurance mergers, US-listed equities witnessed a diverse set of powerful catalysts. The most significant developments included a $450 million commitment from the US Department of Defence to Elmet Group, a $7.7 billion take-private deal for Baldwin Insurance Group, and a pivotal FDA approval for Scholar Rock Holding Co. These events, alongside a broad-based surge in cybersecurity stocks and a series of strategic acquisitions, drove substantial individual stock movements despite mixed broader market sentiment.

Elmet Group Surges 35.55% on $450 Million Department of Defence Backing and Nevada Tungsten Investment

Shares of The Elmet Group Co. (NASDAQ: ELMT) surged on Monday after the company announced a $450 million investment from the U.S. Department of War to expand domestic tungsten manufacturing and strengthen the country’s critical materials supply chain.

Elmet shares were trading at $21.95, up $5.75 or 35.55%, as of 12:28 p.m. EDT on September 14. The stock opened at $22.35, compared with the previous close of $16.19. During the session, shares moved between a low of $20.22 and a high of $25.03. The session high represents a gain of about 54.6% from the previous close, while even the day’s low remained about 24.9% higher.

The company said the government investment will support the expansion of U.S. tungsten manufacturing, access to critical raw materials, and mining and processing capacity. The funding will begin with an initial $200 million drawdown at closing, followed by additional drawdowns. In return, the government will receive redeemable preferred equity and warrants representing up to 19.9% of Elmet’s common stock on a post-transaction basis. It will also have the right to appoint one independent director and one non-voting board observer.

More than $165 million of the investment is expected to support Elmet’s existing facilities in Maine, Michigan and Ohio. Around $150 million will be directed toward the Blue Moon Springer Tungsten Complex in Nevada, which is being developed through a joint venture involving Elmet, Blue Moon Metals and Australia’s EQ Resources.

Elmet also plans to establish Elmet Refining & Trading, a new division focused on sourcing, processing and delivering materials across its supply network. Separately, Elmet Technologies has secured a Defence Logistics Agency contract with a ceiling value of up to $2 billion to supply tungsten ores, concentrates and sodium tungstate to the U.S. National Defence Stockpile. The contract includes a guaranteed funded commitment of $150 million and runs through August 2031, with an option to extend through August 2033. With tungsten considered important for aerospace and defence applications, the latest investment could strengthen Elmet’s role in the U.S. critical materials supply chain.

Baldwin Insurance Group to be Taken Private by Michael Dell’s DFO Management in $7.7 Billion Deal

Shares of Baldwin Insurance Group (NASDAQ: BWIN) rose on Monday after Dell Technologies founder and CEO Michael Dell’s DFO Management and Sequence Holdings agreed to take the insurance broker private in a deal valued at $7.7 billion.

Baldwin shares were trading at $31.92, up 7.66% or $2.27, at 12:30 p.m. ET on September 14. The stock opened at $31.84 and touched a high of $31.97 and a low of $31.72 during the session. The day’s high represents a gain of about 1.6% from the opening price. Baldwin has a 52-week range of $15.88 to $32.59.

Under the agreement, Baldwin shareholders will receive $32.50 in cash per share. The offer represents an approximately 88% premium to the company’s unaffected closing price on June 17, before reports of a potential transaction emerged.

Baldwin provides risk management, insurance advisory and technology-enabled underwriting services to businesses and individuals. The take-private transaction is expected to close in the first quarter of 2027, subject to customary conditions.

DFO Management, Dell’s investment vehicle, and Sequence Holdings said the deal will provide Baldwin with long-term capital and greater flexibility to invest in artificial intelligence. The companies believe private ownership can allow the insurer to pursue longer-term technology investments without the pressure of quarterly earnings expectations.

Following completion, eligible Baldwin employees will have the option to roll over part of their holdings and retain a significant minority stake in the newly private company. Ardea Partners and MarshBerry advised Baldwin, while Piper Sandler advised DFO and Sequence.

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Scholar Rock Shares Fall 4% Despite FDA Approval of Isemb yld for Spinal Muscular Atrophy

Shares of Scholar Rock Holding Corp. (NASDAQ: SRRK) fell 4.07% on Monday despite the U.S. Food and Drug Administration approving Isemb yld, the company’s treatment for spinal muscular atrophy (SMA).

The stock was trading at $53.16, down $2.26, at 12:35 p.m. ET on September 14. Shares opened at $56.50, reached an intraday high of $56.90 and touched a low of $52.60. The low marked a decline of about 7.8% from the opening price. Scholar Rock has a 52-week range of $27.07 to $61.76. The FDA approved Isemb yld, also known as apitegromab-mstn, for adults and children aged two years and older who are already receiving treatment targeting survival motor neuron 2 (SMN2). Scholar Rock said the drug is the first approved SMA treatment designed to directly target muscle.

The approval was based on results from the Phase 3 SAPPHIRE study. Patients receiving the recommended dose recorded a 2.2-point improvement over placebo after one year on the Hammersmith Functional Motor Scale-Expanded. About 34.2% of treated patients achieved an improvement of at least three points, compared with 13.5% of patients receiving placebo.

Scholar Rock said its U.S. commercial launch is underway, with shipments expected to begin in the coming days. The company will now focus on pricing, insurance coverage and patient adoption.

The approval also included a rare pediatric disease priority review voucher, which Scholar Rock could use for a future drug application or potentially sell.

The company is scheduled to discuss the FDA approval and commercial rollout during an investor call on Monday.

RUM Group Shares Rise 15% After Anthropic Reportedly Named as $13.7 Billion Contract Client

Shares of RUM Group Inc. (NASDAQ: RUM) rose sharply on Monday after reports identified artificial intelligence company Anthropic as the customer behind RUM Group’s previously undisclosed $13.7 billion GPU services agreement.

RUM shares were trading at $8.28, up $1.10 or 15.41%, at 12:38 p.m. ET on September 14. The stock opened at $7.67, reached an intraday high of $8.65 and touched a low of $7.60. The day’s high represents a gain of about 12.8% from the opening price, while the stock was about 2.1% above its opening price at the time of the latest quote. RUM has a 52-week range of $4.62 to $10.60.

RUM Group, formerly known as Rumble, disclosed the six-year GPU agreement in an August regulatory filing without naming the customer. Reports now identify Anthropic as the client. The agreement is linked to RUM’s Maysville, Georgia, data center, which is expected to begin operations in early 2027. The facility has an estimated 120 MW of power capacity, with potential expansion to 180 MW.

The contract is structured across three tranches, with the final tranche subject to customer approval. It also includes a 10-year warrant allowing Anthropic to purchase up to approximately 50.81 million RUM shares at $0.01 per share, potentially creating future dilution for existing shareholders.

RUM’s expansion into AI computing accelerated following its acquisition of Northern Data in June 2026. The deal added approximately 22,000 Nvidia Hopper GPUs to its portfolio and supported the company’s push into GPU services under its Quake AI business.

The reported Anthropic contract strengthens RUM’s position in the rapidly expanding AI infrastructure market, while investors will closely watch execution, capacity expansion and potential share dilution.

AirJoule Stock Falls 3.39% After BitSink Acquisition: Bullish or Bearish?

Shares of AirJoule Technologies Corp. (NASDAQ: AIRJ) fell on Monday after the company announced the acquisition of BitSink for up to $67 million, expanding its business into AI data center cooling and electrical infrastructure.

AirJoule stock was trading at $4.14, down $0.14 or 3.39%, as of 22:14 UTC on September 14. The stock’s intraday range was $4.07 to $4.24, while its 52-week range stood at $2.22 to $6.75. Shares have declined 9.41% over the past week and 31.46% over the past month, although they remain up 27.38% over six months.

Under the deal, AirJoule will acquire 100% of BitSink for $18 million in cash and $9 million in AIRJ shares. The transaction includes up to $40 million in additional stock-based payments tied to revenue milestones over three years.

BitSink designs cooling and electrical infrastructure for AI and high-performance computing data centers. It has deployed more than 220 megawatts of capacity across North America and reported $15 million in near-term purchase orders.

The acquisition gives AirJoule exposure to the growing AI infrastructure market while diversifying beyond its atmospheric water generation technology. However, the deal also introduces execution risks and potential shareholder dilution from stock-based consideration. The acquisition could support long-term growth if BitSink delivers on its revenue milestones, but investors will need to watch integration, cash usage and order execution before turning more bullish.

Tyra Biosciences Shares Rise 14% After Pricing $400 Million Stock Offering

Shares of Tyra Biosciences Inc. (NASDAQ: TYRA) rose on Monday after the clinical-stage biotechnology company priced a $400 million underwritten offering of common stock and pre-funded warrants.

Tyra shares were trading at $25.08, up $3.06 or 13.87%, as of 22:34 UTC on September 14. The stock touched an intraday high of $26.35 and a low of $23.20, while its 52-week range stood at $11.82 to $40.65. Shares have gained 99.88% over the past year but declined 30.91% over six months.

The offering includes 9,079,000 common shares priced at $22.03 each and pre-funded warrants to purchase 9,078,529 shares at $22.029 per warrant. Tyra expects gross proceeds of approximately $400 million before expenses. The offering is expected to close on September 15, subject to customary conditions.

The company plans to use the funds to advance its dabogratinib development strategy in urothelial cancer and achondroplasia, while supporting preclinical research, drug discovery and general corporate purposes.

The capital raise strengthens Tyra’s financial resources for clinical development. However, issuing new shares and warrants could create dilution for existing shareholders. Investors will watch the company’s progress in clinical trials and its ability to convert the fresh funding into future growth.

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Addus HomeCare to Acquire AccentCare Personal Care Unit for $275 Million

Shares of Addus HomeCare Corporation (NASDAQ: ADUS) edged lower on Monday after the company announced a definitive agreement to acquire AccentCare’s personal care division for approximately $275 million.

Addus shares were trading at $116.80, down $0.29 or 0.25%, as of 22:41 UTC on September 14. The stock’s intraday price range was not provided in the available market data. The acquisition covers AccentCare’s personal care operations outside New York and excludes its hospice and home health businesses.

The deal is expected to add approximately $280 million in annualised revenue, representing a roughly 19% increase to Addus’ revenue base. The acquired operations serve an average daily census of around 13,700 customers across 10 states.

The transaction will expand Addus’ personal care presence in Texas, Illinois, California and Arizona, while adding operations in Colorado, Georgia, Minnesota, Pennsylvania, Tennessee and Washington.

Addus will finance the acquisition through a combination of cash on hand and its revolving credit facility. The company expects the transaction to be accretive to financial results, subject to regulatory approvals and customary closing conditions.

Addus currently provides home care services to approximately 62,500 consumers through 264 locations across 24 states. The acquisition strengthens its position in the growing home-based care market and expands its customer base and service reach. The additional revenue and expected earnings contribution could support long-term growth.

Corning Stock Falls 12% as Company Launches $2 Billion Equity Offering

Corning Inc. (NYSE: GLW) shares fell sharply on Monday after the specialty glass and optical-fiber maker announced an at-the-market equity offering worth up to $2 billion. The move raised concerns about possible shareholder dilution and pushed the stock lower despite strong demand for its AI infrastructure business.

GLW traded at $145.60, down 12.51% on September 14. The stock opened at $150.64, reached a high of $154.25, and touched a low of $145.01 during the session. Its 52-week range stands at $76.15 to $271.78.

Corning disclosed that it entered into an equity distribution agreement with Goldman Sachs. Unlike a traditional share sale, the company has not fixed the offering price or the number of shares. It can sell shares over time based on market conditions.

The offering comes after Corning shares gained roughly 91% this year, supported by AI-related optical-fiber demand, hyperscaler agreements and Nvidia-backed capacity expansion. However, the new share sale has added pressure as investors assess valuation and future growth.

Corning’s relationship with Apple and the potential demand for advanced glass in foldable iPhones could provide further support. Still, near-term trading may remain volatile as investors focus on dilution risks and the size of the offering.

Hain Celestial Reports Fiscal 2026 Results as Cash Flow Improves

The Hain Celestial Group (Nasdaq: HAIN) reported fiscal fourth-quarter and full-year 2026 results on September 14, highlighting stronger cash flow, lower debt and improving North American performance.

HAIN traded at $0.6254, up 0.97%. The stock opened at $0.6400 and moved between $0.6003 and $0.7581. Its 52-week range is $0.4800 to $1.8000.

Fiscal fourth-quarter net sales fell 28% year over year to $263 million, mainly due to the divestiture of the North American snacks business. Organic sales declined 2%. Net loss narrowed to $62 million from $273 million, while adjusted EBITDA stood at $19 million.

For fiscal 2026, revenue declined 13% to $1.353 billion, while organic sales fell 3%. Net loss improved to $305 million from $531 million. However, adjusted EBITDA decreased to $89 million from $114 million.

Cash flow remained a key positive. Operating cash flow rose to $78 million from $22 million, while free cash flow reached $58 million, compared with an outflow of $3 million previously. Total debt declined to $558 million from $705 million.

Hain also announced an agreement to sell its International business. If completed, the transaction could leave the company more focused on North America, although debt maturity negotiations remain important. Overall, stronger cash flow and debt reduction support the outlook, but falling sales and continued losses remain risks.

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CoinShares Stock Falls 5% as Company Reports First-Half 2026 Results

CoinShares PLC (Nasdaq: CSHR) reported first-half 2026 results on September 14, highlighting positive net flows and a stronger balance sheet despite weaker digital asset markets.

CSHR traded at $5.07, down 5.41%. The stock opened at $4.56, reached $5.10, and touched a low of $4.56. Its 52-week range is $3.50 to $10.43. Revenue fell 35.7% to $51.4 million, while AUM declined to $5.5 billion from $7.4 billion. However, CoinShares generated $27.6 million in net inflows, including $155.9 million for CoinShares Physical.

Segment EBITDA stood at $21.6 million, while net loss was $23.9 million. The company ended June with $453 million in net assets and no long-term debt. It also plans to seek approval for a share repurchase program.

Kyndryl Stock Rises 4% as Company Completes $350 Million Healthcare IT Acquisition

Kyndryl (NYSE: KD) completed its acquisition of Healthcare IT Leaders, LLC for up to $350 million, including a performance-based earnout. The deal was announced on August 10, 2026, and expands Kyndryl’s healthcare consulting and application managed services capabilities.

KD traded at $25.35, up 3.65%. The stock opened at $24.62 and moved between $24.40 and $25.47 during the session. Its 52-week range is $9.38 to $27.90. Healthcare IT Leaders provides IT services to hospitals and health systems across the US. Its expertise covers electronic health records, enterprise resource planning, workforce management, revenue cycle management, digital health, cloud and data systems.

Revenue from Healthcare IT Leaders for the twelve months ended March 31, 2026, represented about 1% of Kyndryl’s fiscal 2026 revenue. Kyndryl said the acquisition does not change its fiscal 2027 outlook issued on August 5.

The company has also temporarily paused its share repurchase program to preserve financial flexibility and will update investors when buybacks resume.

RF Industries Stock Falls 15% Despite Record Third-Quarter Revenue

RF Industries Ltd. (NASDAQ: RFIL) reported record third-quarter fiscal 2026 revenue of $23.96 million, up 21% year over year, driven by stronger demand and growth in higher-value solutions.

RFIL traded at $8.81, down 14.63%. The stock opened at $8.89, reached a high of $10.13, and touched a low of $8.25. Its 52-week range is $5.54 to $22.30. Gross margin improved to 35.6% from 34%, while operating income rose to $1.8 million from $720,000. Net income jumped 267% to $1.44 million, or $0.12 per diluted share, from $392,000 a year earlier.

Adjusted EBITDA increased 69% to $2.7 million, while non-GAAP net income reached $2.2 million, compared with $1.1 million in the prior-year quarter. RF Industries ended the quarter with an $18.6 million backlog, while bookings reached $22.5 million. Current backlog stands at $19.8 million. The company said growth is increasingly supported by aerospace, edge data centers, AI infrastructure, transportation and public safety markets.

Realty Income, KKR Form €528 Million European Joint Venture

Realty Income (NYSE: O) and KKR (NYSE: KKR) have formed a euro-denominated joint venture focused on European net lease real estate assets. KKR will invest €528 million for a 49% stake, while Realty Income will retain 51% ownership and manage the portfolio.

Realty Income traded at $59.37, down 0.24%. The stock opened at $59.95, reached $60.45, and fell to $59.23. Its 52-week range is $55.86 to $67.94. KKR traded at $101.46, up 0.41%, with an intraday range of $100.38 to $102.23 and a 52-week range of $82.67 to $152.10.

The portfolio includes 54 properties with 140 units across Spain, Ireland, Poland and the Netherlands. It has estimated first-year cash net operating income of €67.7 million and a weighted average remaining lease term of 7.2 years.

The transaction is expected to close on September 30, 2026, subject to customary conditions. The portfolio carries a 5.9% initial cap rate, while investment-grade tenants account for 59% of base rent.

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Electra Therapeutics Targets $977.6 Million Valuation With Nasdaq IPO

Electra Therapeutics is targeting a valuation of up to $977.6 million through its U.S. initial public offering, according to a filing on September 14, 2026. The South San Francisco-based biotech company plans to raise as much as $346.7 million by offering about 21.67 million shares at $14 to $16 each.

Electra is a late-clinical-stage biotechnology company developing therapies aimed at treating immunological diseases and cancer. Its lead experimental drug, ipsoprubart, targets harmful immune cells involved in secondary hemophagocytic lymphohistiocytosis, a severe condition in which the immune system becomes dangerously overactive. The drug is currently being evaluated in a global clinical study intended to support potential regulatory approval.

The company plans to use IPO proceeds to fund clinical trials for ipsoprubart, advance its second drug candidate, ELA822, and support working capital and other corporate requirements.

Electra intends to list on the Nasdaq under the ticker ETRA. Jefferies, TD Cowen, Evercore ISI and Cantor are serving as underwriters. The IPO comes as the U.S. fall listing market faces slower activity than last year amid economic uncertainty and market volatility. However, biotech IPO activity has shown signs of recovery, supporting Electra’s plans to enter the public market.

Bamboo Insurance Targets $3.24 Billion Valuation in US IPO

CVC-backed Bamboo Insurance Services is targeting a valuation of up to $3.24 billion in its U.S. initial public offering (IPO), according to a filing on September 14, 2026. The Midvale, Utah-based insurance company’s selling shareholders are seeking to raise up to $700 million by offering 35 million shares at a price of $18 to $20 per share.

Bamboo was founded in 2018 and focuses on the residential property insurance market, offering homeowners’ insurance and related products. The company operates as a managing general underwriter (MGU), underwriting and distributing policies on behalf of insurance carriers that ultimately assume the claims risk.

The company’s IPO comes as the U.S. insurance sector continues to attract investor interest. Recent insurance listings have performed relatively well after going public, although broader IPO activity has faced pressure from market volatility, higher oil prices and inflation.

Private equity firm CVC became Bamboo’s majority owner last year after White Mountains Insurance sold its stake in a deal that valued the company at $1.75 billion. Bamboo plans to list on the New York Stock Exchange (NYSE) under the ticker BMB. J.P. Morgan, Morgan Stanley, Deutsche Bank Securities, Evercore ISI and Wells Fargo Securities are among the underwriters managing the offering. The IPO would mark a significant increase in Bamboo’s valuation from its 2025 transaction with CVC, subject to the final offering price and share count.

Today’s developments were driven by a $450 million Department of Defence commitment to Elmet Group and Baldwin Insurance Group’s $7.7 billion take-private deal. Scholar Rock gained attention after FDA approval for Isembyld. Cybersecurity stocks rallied, while healthcare and technology acquisitions added momentum. Elmet Group, RUM Group, Tyra Biosciences, and Baldwin Insurance emerged among the session’s notable movers.

Source

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