Medtronic Raises Outlook; Nio Revenue Misses; GoPro Surges 44% on $285M Deal

Mumbai, Sept 2: US markets saw a flurry of company-specific developments, with earnings, acquisitions, contract wins and capital-raising deals driving notable stock moves. Medtronic raised its fiscal 2027 growth outlook after beating quarterly estimates, while Nio reported strong delivery growth despite a revenue miss. GoPro shares surged on a $285 million merger deal, and Comstock Resources rallied after a $1.65 billion asset sale agreement. KBR, Gilat Satellite Networks and other companies also announced major contracts, investments and financing transactions. 

Medtronic Beats Q1 Estimates with $9.8B Revenue, Raises FY2027 Growth Outlook to 7.75% 

Medtronic reported first-quarter fiscal 2027 adjusted earnings of $1.45 per share on revenue of $9.8 billion, surpassing Wall Street expectations. The medical device giant also raised its full-year organic revenue growth guidance to 7.25% to 7.75% from 6.75% to 7.25%, citing broad-based demand and strong execution across its portfolio. 

Adjusted EPS of $1.45 exceeded the consensus estimate of $1.39 by $0.06, or 4.32%. Revenue of $9.8 billion surpassed the $9.55 billion forecast by $250 million, or 2.62%. Revenue rose 13.7% organically, helped in part by an extra selling week in the fiscal year, which added about $570 million to revenue growth. Even without that benefit, management said the company delivered its strongest quarterly performance in nearly eight years, excluding COVID comparisons. 

Cardiac Ablation Solutions stood out with 88% worldwide growth, while Cardiac Rhythm Management rose 15% globally. The company also pointed to strong momentum in robotic surgery, renal denervation and several neuroscience platforms. Adjusted gross margin stood at 65.2%, up 10 basis points year over year, while adjusted operating margin was 23.7%, also up 10 basis points. 

For fiscal 2027, Medtronic raised its adjusted EPS outlook to $5.94 to $6.00. For the second quarter, the company expects organic revenue growth of about 6% and adjusted EPS of $1.32 to $1.34. Medtronic shares opened at $94.00, up from the previous close of $90.65, before easing to $90.65, down 0.64% on the day. The stock traded between a low of $90.04 and a high of $91.12. 

Nio Shares Slide as Q2 Revenue Misses Estimates Despite Narrower Loss 

Nio Inc reported second-quarter revenue that missed Wall Street expectations, even as the Chinese electric vehicle maker narrowed its losses and pointed to improving margins. Revenue rose 69.1% year over year to RMB32.14 billion ($4.74 billion), falling short of the roughly $4.95 billion analysts had expected.  

The company’s GAAP net loss narrowed sharply to RMB528 million from RMB4.99 billion a year earlier, and Nio reported an adjusted profit for the quarter. Vehicle margin improved to 18.5% from 10.3% a year prior, while overall gross margin expanded to 18.4%. Vehicle deliveries climbed 49.4% year over year to 107,658 units. 

For the third quarter, Nio expects deliveries of between 108,000 and 111,000 vehicles, a 24% to 27.5% increase from a year earlier. The company projected revenue of RMB33.29 billion to RMB34.05 billion ($4.9 billion to $5 billion), up 52.7% to 56.2% year over year but slightly below initial Wall Street projections. Management flagged rising component costs, including for batteries and memory chips, that are expected to add RMB2,000 to RMB3,000 per vehicle in the second half of the year. 

 Nio shares fell 3.20% to $4.23. The stock hit a low of $4.019 during the session, down nearly 5% at one point. In Hong Kong trading, the stock fell as much as 10.7% to HK$29.64, a 52-week low. 

Rezolve AI Plunges 19% as H1 Revenue Surge Fails to Offset Heavy Losses 

Rezolve AI reported first-half 2026 revenue of $130.8 million, up from $6.3 million in the prior-year period, as the company expanded its enterprise customer base and continued to build distribution partnerships with major technology providers. 

Despite the surge in revenue, Rezolve reported a net loss of $139.5 million, compared with $57.9 million a year earlier. Adjusted EBITDA loss stood at $32.6 million, while operating cash use was $96.1 million. The company reaffirmed its expectation for approximately $360 million in fiscal 2026 revenue and said it continues to target at least $500 million in annual recurring revenue exiting the year. 

First-half gross profit rose to $63.9 million from $6 million a year earlier, while gross margin was 48.9%. As of June 30, the company had $33.2 million in cash and cash equivalents and $67.4 million in restricted cash, for total cash of approximately $100.5 million. 

 Rezolve AI shares plunged 18.69% to $2.35, with the stock trading between a low of $2.80 and a high of $3.13. The stock opened at $2.89 on Tuesday. 

Yext Beats EPS Estimates by 23.5% But Revenue Misses, Shares Flat 

Yext reported quarterly earnings of $0.21 per share, beating the Zacks Consensus Estimate of $0.17 per share by 23.53%. This compares to earnings of $0.12 per share a year ago. 

However, revenue came in at $111.1 million for the quarter ended July 2026, missing the Zacks Consensus Estimate by 0.18%. This compares to year-ago revenues of $113.09 million. The company has not been able to beat consensus revenue estimates over the last four quarters. 

Net income for the quarter was $13.1 million, or 13 cents per share. Earnings, adjusted for one-time gains and costs, were 21 cents per share. 

 Yext shares opened at $7.66, up from a $6.77 close, before settling at $6.77, down 2.03%. The stock traded between $6.73 and $6.94. 

Heidmar Maritime Revenue Triples to $29M in Q2, Shares Edge Higher 

Heidmar Maritime Holdings Corp reported total revenues of $29.0 million for the second quarter of 2026, up from $9.6 million in Q2 2025 and up $10.6 million from Q1 2026. 

Net income attributable to shareholders was $2.2 million or $0.04 income per share, basic. Adjusted net income was $2.4 million, which excludes $0.2 million in non-cash stock-based compensation. Cash and cash equivalents stood at $28.7 million as of June 30, 2026. 

For the first half of 2026, total revenues were $47.3 million, up $32.1 million from $15.2 million in the same period of 2025, due to an increase in the average number of vessels under commercial management and a higher number of vessels employed under voyage and time charter arrangements. During the second quarter, the company added seven vessels under management. 

 Heidmar Maritime shares traded at $1.39, down 1.42% on the day. The stock ranged between $1.38 and $1.47. 

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Zepp Health Revenue Jumps 33.8% to $51.5M, Operating Loss Narrows 

Zepp Health Corporation reported a 33.8% year-over-year revenue increase to $51.5 million for the first quarter of fiscal year 2026, driven by successful new product launches and a strategic shift toward premiumization. 

The smart wearable company expanded its gross margin to 37.7%, up 0.4 percentage points from the prior year period. Average selling prices rose 20% year over year, signalling effective pricing power and improved product mix. The launch of the Amazfit Active Max, Active 3 Premium and the flagship T-Rex Ultra 2 contributed significantly to top-line growth. 

The company’s operating loss narrowed significantly to $6.3 million, compared to $17.2 million in Q1 2025. Adjusted net loss stood at $17.9 million, or 34.8% of sales, down from $18.1 million (41% of sales) in the same quarter last year. 

Looking ahead, Zepp Health forecasts Q2 2026 revenue between $63 million and $68 million, representing year-over-year growth of approximately 6% to 14%. 

 Zepp Health shares fell 4.37% to $4.82, after rising 5.2% in regular trading to $5.25 ahead of the earnings release. The stock traded between $4.82 and $5.28. 

MiniMed Posts Surprise Breakeven Quarter as Revenue Jumps 16.6% to $843M 

 MiniMed Group delivered a notable upside surprise in its Q1 2027 results, posting breakeven earnings of $0.00 per share versus the Street’s expected loss of $0.17 per share. 

The medical device manufacturer generated $843.0 million in revenue for the quarter, representing a 16.6% increase from the $723.0 million recorded in Q1 2026. The company’s Continuous Glucose Monitoring segment led performance with $431.0 million in revenue, up 19.9% year over year. The worldwide CGM attachment rate reached 69.0% for the quarter, reflecting strong adoption among the company’s insulin pump user base. MiniMed sold 34,000 new pumps worldwide during the period. 

Analyst sentiment remains decidedly bullish, with Wall Street consensus standing at 10 buy ratings, 2 hold ratings and 0 sell recommendations.  MiniMed shares rose 8.1% to $21.91, with the stock hitting $22.20 at one point. The stock traded between $19.72 and $20.36. 

Sibanye-Stillwater Posts 111% EBITDA Jump But Shares Slip on Execution Concerns 

 Sibanye-Stillwater reported sharply higher first-half 2026 earnings and cash flow, with revenue rising 64% and adjusted EBITDA jumping 111% to ZAR 31.8 billion. 

Headline earnings per share surged 216% to 601 South African cents, while operating cash flow climbed 551% to just under ZAR 21 billion. Gross debt fell to ZAR 32.1 billion from ZAR 39.3 billion at the end of H2 2025, an 18% drop in six months. The board declared an interim dividend of ZAR 5.7 billion, or 201 cents per share, near the top of the company’s payout range. 

Revenue reached a record for any six months in company history, helped by stronger commodity prices and better operating leverage. Adjusted EBITDA margin was 35%. Net debt gearing improved to 0.18 times. Capital expenditure was ZAR 8.2 billion, down 14% from ZAR 9.4 billion a year earlier. 

 Sibanye-Stillwater shares fell 1.99% to $11.85. The stock had fallen 3.04% in premarket trading to $11.49 from the previous close of $11.85. The stock opened at $11.81 on Tuesday and traded between $11.74 and $12.01. 

Bodycote Accepts £1.65bn Veritas Bid as Rival CVC Weighs Options 

Bodycote PLC on Tuesday accepted a £1.65 billion offer from New York-based private equity firm Veritas Capital Fund Management LLC. The Macclesfield-based heat treatment and metallurgical technology provider said the proposal values each share at 940 pence, comprising 932.8p in cash and the already declared interim dividend of 7.2p per share. The approach values Bodycote at £1.65 billion on a fully diluted basis, with an enterprise value of £1.85 billion. 

The offer represents a 44% premium to Bodycote’s closing price before Veritas’ initial approach and a 25.3% premium to the price before the formal offer period began. Bodycote’s board unanimously recommended the deal, with chair Daniel Dayan saying it recognises the quality of the business while giving investors the opportunity to realise value immediately in cash. 

Bodycote shares traded 4.49% higher at 954.00p, above the Veritas offer price. In August, Bodycote disclosed it had received two bid proposals — one from Veritas worth 914p per share, and one from CVC Advisers Ltd worth up to 915p per share. Veritas returned on 31 August with the higher 940p offer now recommended by the board. CVC said it is “considering its position” and urged Bodycote shareholders to “take no action”. 

Gamma Communications Agrees £1.02bn Epiris Takeover at 53% Premium 

Gamma Communications PLC agreed to a takeover by London-based private equity firm Epiris, valuing the British telecom firm at £1.08 billion including debt. Gamma shareholders will receive 1,120 pence in cash per share, valuing the company at about £1.02 billion in equity. The offer represents a 53% premium to Gamma’s closing price on 7 April, when it first disclosed it was in talks over a potential sale. 

Epiris said private ownership will allow Gamma to invest more heavily in innovation, including AI, and accelerate growth across its communications technology business. Gamma has attracted interest from several buyout firms this year — Oakley Capital and Providence Equity Partners withdrew in June, while Waterland Private Equity Investments had also been in early talks. 

Gamma shares traded 0.70% higher at 1,148p. The stock has risen 22% in the last month. The transaction is expected to become effective in the first quarter of 2027, subject to shareholder and regulatory approvals. 

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GoPro Shares Surge 47% on $285M Starman Optical Merger Deal 

GoPro Inc said on Tuesday it has agreed to merge with optical-photonics company Starman Optical in a $285 million recapitalisation deal. Under the terms, GoPro shareholders will receive about $1.14 per share in cash and retain roughly 10% of the combined company. Approximately $92 million of GoPro’s debt will be repaid at closing. 

The combined company will remain publicly listed and plans to expand beyond consumer cameras into AI data-centre infrastructure, government, defence and aerospace applications, leveraging Starman’s U.S.-made optical transceivers. The merger follows months of takeover speculation and comes amid a challenging financial backdrop for GoPro. 

GoPro shares surged 43.80% to $1.26 during Tuesday’s session. The stock has risen roughly 140% off last week’s $0.60 low. The company’s market capitalisation stands at approximately $232 million. 

Hornbeck Offshore and Helix Complete Merger, Begin Trading as HOS 

Hornbeck Offshore Services and Helix Energy Solutions Group announced they have completed their previously announced all-stock combination, establishing a premier integrated offshore services company. The combined company has assumed the Hornbeck Offshore Services name and will begin trading on the New York Stock Exchange on 2 September 2026 under the ticker symbol ”HOS”. Helix’s common stock will cease trading under ”HLX” at the close of trading on 1 September. 

Todd M. Hornbeck has assumed the role of President, Chief Executive Officer and Director of the combined company, while William L. Transier has become Chairman of the Board. The merger brings together Hornbeck’s marine expertise with Helix’s robotics, well intervention and subsea capabilities. Upon completion, Hornbeck securityholders will own approximately 55% of the combined entity, with Helix shareholders owning about 45% on a fully diluted basis. 

Weatherford Completes NCS Multistage Acquisition, Strengthening Completions Portfolio 

Weatherford International plc announced the completion of its previously announced acquisition of NCS Multistage Holdings, strengthening its completions portfolio and expanding capabilities in reservoir diagnostics and well performance solutions. NCS Multistage stockholders received either 0.554 shares of Weatherford ordinary shares, or a combination of 0.239 Weatherford shares and a cash amount equal to 0.137 Weatherford shares, subject to proration. NCS Multistage common stock has ceased trading and will no longer be listed on the NASDAQ. 

The acquisition brings together complementary technologies, expertise and services that strengthen Weatherford’s ability to support customers across the complete well lifecycle. NCS Multistage’s completions and reservoir diagnostics capabilities enhance Weatherford’s existing portfolio across well construction, completions, production optimisation and intervention. Weatherford shares closed 4.24% higher at $97.77, trading between $95.00 and $99.18. 

ACI Worldwide Acquires Cranium Ventures to Accelerate Card Switching Roadmap 

ACI Worldwide announced it has entered into a definitive agreement to acquire Cranium Ventures, a privately held developer of cloud-native card payment switching technology. The technology will be added to ACI Connetic for Cards, which ACI launched in March 2026. Founded in 2018 in the United Kingdom, Cranium Ventures has key operations in Singapore and Malaysia and developed SYNAP, a microservices-based card switching framework that runs in cloud, on-premises and hybrid environments. 

Purchase transactions on the global card networks are projected to reach more than 1.1 trillion in 2029, a 43% increase over 2024. The acquisition accelerates ACI’s existing Connetic for Cards roadmap, bringing planned card switching capabilities to market sooner. ACI shares traded at $53.28, down 1.02% on the day. Financial terms were not disclosed. The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions. 

Banner Corporation Completes Pacific Financial Corporation Acquisition 

Banner Corporation completed its acquisition of Pacific Financial Corporation. Banner shares closed at $70.14, down 0.51%, trading between $69.60 and $70.60. The company, headquartered in Walla Walla, Washington, operates as the bank holding company for Banner Bank, providing commercial banking and financial products across the United States 

Medtronic Invests $700M in Cornerstone Robotics to Expand Surgical Portfolio 

Medtronic announced a strategic partnership with Hong Kong-based surgical robotics company Cornerstone Robotics, involving an approximately $700 million investment and rights to distribute Cornerstone’s Sentire surgical system in select markets outside the U.S.. The Sentire system, which received CE Mark in May 2026 and is approved in China and Singapore, complements Medtronic’s Hugo robotic-assisted surgery system. 

The partnership builds on momentum for Medtronic’s Hugo system, now used in more than 35 countries across six continents, including the U.S. following FDA clearance last year. Procedure growth for Hugo is currently more than two times the robotic surgery market growth rate, with total procedures expected to exceed 50,000 globally by the end of Medtronic’s fiscal year. Medtronic will continue to innovate Hugo capabilities, including software upgrades, real-time AI, integrated stapling and expanded instrumentation. 

Medtronic shares closed at $90.65, down 0.64% on the day. The stock traded between $90.04 and $91.12 during the session. Medtronic also reported first-quarter fiscal 2027 adjusted earnings of $1.45 per share on revenue of $9.8 billion, beating estimates of $1.39 and $9.55 billion respectively. The company raised its full-year organic revenue growth guidance to 7.25% to 7.75% . 

Comstock Resources Jumps 9.6% on $1.65B SOCAR Asset Sale and $450M Drilling Venture 

Comstock Resources rose 9.6% to $15.81 after announcing a letter of intent with the State Oil Company of the Azerbaijan Republic (SOCAR) for a $1.65 billion asset sale. Under the agreement, SOCAR would acquire a 20% non-operated working interest in Comstock’s Legacy Haynesville upstream assets, a 15% interest in its Western Haynesville assets, and 15% of Comstock’s 73% ownership in Pinnacle Gas Services LLC. 

Comstock intends to use proceeds to reduce total indebtedness, lowering net debt from $3.1 billion to $1.5 billion as of June 30, 2026. Separately, Comstock entered into a Haynesville shale drilling venture with a partnership owned by the Jones family, which will fund drilling and completion costs of 85% of 18 Western Haynesville wells and 80% of nine Legacy Haynesville wells over the next twelve months, expected to cost approximately $450 million. The stock opened at $15.82, up from a previous close of $14.43. The stock’s 52-week range is $12.12 to $28.10. 

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SB Energy Files for IPO, Eyes AI Data Centre Power Market 

SB Energy, the artificial intelligence power infrastructure company backed by Softbank, OpenAI and Nvidia, filed for an initial public offering with the U.S. Securities and Exchange Commission. The company will trade on the Nasdaq and Nasdaq Texas under the ticker symbol SBE. 

In its S-1 filing, SB Energy disclosed it is “substantially dependent” on OpenAI’s performance as both a tenant and equity investor, with OpenAI mentioned 306 times throughout the filing compared to Softbank’s 325. For the first half of 2026, SB Energy incurred net losses of roughly $3.2 billion and generated about $139 million in revenue, mostly from its legacy energy business. None of its data centres are operational yet. Nvidia announced in August it would provide $105 billion in financing for an OpenAI data centre in Ohio to be built by SB Energy. 

Intelligent Bio Solutions Raises $5M, Global Water Resources $20M and Gilat Satellite Networks $100M 

Intelligent Bio Solutions announced a private placement expected to generate approximately $5.0 million in gross proceeds. The company will issue 2,036,659 common shares or Series M pre-funded warrants, along with Series N-1 and Series N-2 warrants. The combined purchase price is $2.455 per share and associated warrants, while both warrant series carry an exercise price of $2.33 per share. Shares rose 5.35% to $2.40, trading between $2.335 and $2.410. 

Global Water Resources completed a $10.0 million private placement and expanded its revolving credit facility by $10.0 million, taking the facility from $20.0 million to $30.0 million. The company sold 1,129,944 shares at $8.85 each to accredited investors. Shares closed at $9.19, up 0.71%, after trading between $9.03 and $9.21. 

Gilat Satellite Networks secured commitments for approximately $100 million through a private placement of convertible notes. The notes carry 3.75% annual interest and mature on September 1, 2031. The $16.00 conversion price represents a 60% premium to the August 28 sale price of $9.94. Shares closed at $9.90, up 0.40%, trading between $9.68 and $9.94. 

Fervo Energy Surges 26% on 396MW Google Deal; KBR Wins $1.1B NOAA Contract 

Fervo Energy shares surged as much as 26% after the company announced a 396-megawatt power purchase agreement with Google for enhanced geothermal energy from its Cape Station project in Utah. The project is expected to begin operations in 2028 and includes an option for Google to purchase an additional approximately 600 MW, potentially taking the total agreement to nearly 1 GW by June 2030. Cape Station expands on Fervo’s initial 100 MW phase, while the companies’ partnership dates back to Project Red, a commercial pilot in Nevada that became operational in 2023. Google is a subsidiary of Alphabet Inc. 

KBR was awarded a weather data contract by the National Oceanic and Atmospheric Administration’s National Weather Service with a ceiling value of $1.1 billion over five years. The Commercial Data Program National Mesonet Program runs from September 2026 through August 2031. KBR will provide weather and observational data from commercial stations, universities, research campuses and other non-federal providers across the US. The contract was awarded to KBR’s Mission Technology Solutions business, which is planned to become an independent public company named Trinzic in January 2027. KBR Inc shares fell 1.33% to $37.00, trading between $36.80 and $37.53. The stock has declined 26.65% over the past year, while its 52-week range stands at $29.94–$52.23. The company’s analyst price target is $45.71, implying potential upside of 23.55%. 

Overall, corporate earnings, strategic transactions and major contracts drove sharp moves across US-listed stocks. Strong guidance and deal announcements supported gains in several companies, while revenue misses and execution concerns weighed on others. The developments highlighted varied corporate performance across healthcare, technology, energy and industrial sectors. 

Source 

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