Oracle, AeroVironment, Macy’s Lead US Stock News as $1.5B Backlog, $464.8M Contract and Earnings Drive Moves

Mumbai, Sept 11: US equities saw a busy corporate news session on Thursday, with earnings results, major contracts, acquisitions, partnerships and capital raises driving sharp moves across sectors. Oracle faced heightened attention ahead of earnings, while AeroVironment gained on a record $1.5 billion funded backlog and a $464.8 million defence contract. Macy’s and Cooper Companies fell on weaker outlooks, while Culp, Palantir and renewable energy deals added further momentum to an eventful trading day. 

Oracle Stock Falls 1.8% Before Earnings as Traders Brace for 11% Move 

Oracle shares fell 1.8% to around $158.69 on Thursday morning, September 10, as investors prepared for the company’s fiscal first-quarter earnings report after the closing bell. The stock was trading more than 50% below its 52-week high of $331, highlighting the pressure surrounding Oracle’s aggressive artificial intelligence infrastructure expansion. 

The key issue for investors is whether Oracle can convert its massive AI-related order backlog into revenue quickly enough to justify its rising capital expenditure. Management has guided for fiscal first-quarter revenue growth of 27% to 29%, while cloud revenue is expected to increase 58% to 64%. Adjusted earnings are forecast at $1.72 to $1.76 per share. 

Oracle’s previous quarter provided strong evidence of AI demand. Revenue reached $19.2 billion, up 21% year over year, while cloud revenue climbed 47% to $9.9 billion. Infrastructure cloud revenue surged 93% to $5.8 billion. More importantly, remaining performance obligations reached a record $638 billion, up 363% from a year earlier. 

However, the company faces significant spending pressure. Capital expenditure reached $55.7 billion in fiscal 2026, pushing free cash flow to negative $23.7 billion. Oracle also raised substantial debt and equity financing to fund its data-centre expansion. 

Options markets indicate traders expect Oracle shares could move as much as 11% following earnings. Investors will therefore focus not only on revenue and EPS, but also on backlog conversion, capital spending, cash flow and future financing requirements. 

AeroVironment Stock Jumps 11% as $1.5 Billion Backlog and Laser Contract Boost Outlook 

AeroVironment shares jumped about 11% to $156.24 on September 10, after the defence technology company reported strong fiscal first-quarter results and highlighted major contract wins. The stock remains well below its 52-week high of $417.86, but fresh orders are strengthening the growth story. 

Revenue rose 6% year over year to $480.5 million, beating Wall Street expectations of $459.9 million. Non-GAAP earnings per share surged 84% to $0.59, compared with $0.32 a year earlier and analyst expectations of $0.30. The company’s funded backlog climbed 37% year over year to a record $1.5 billion, while total backlog reached $2.8 billion. 

Autonomous Systems was the key growth engine, with revenue increasing 21% to $346 million. Uncrewed Aircraft Systems revenue jumped 71% to $120 million, supported by demand for P550, JUMP 20-X and Puma systems. Precision Strike revenue also increased 8% to $197 million. 

A major catalyst is AeroVironment’s $464.8 million US Army contract for LOCUST X3 laser counter-drone systems. The 30-kilowatt directed-energy system is expected to support the Army’s Enduring High Energy Laser programme. 

Despite strong results, free cash flow remained negative at $36 million as the company invested in production capacity. AeroVironment maintained fiscal 2027 revenue guidance of $2.125 billion to $2.225 billion and adjusted EPS guidance of $3.02 to $3.34. 

The combination of record backlog, rising drone demand and major directed-energy contracts could support future growth, although heavy capital spending and back-end-loaded revenue expectations remain key risks for investors. 

Macy’s Stock Falls 3.7% Despite Earnings Beat as $21.8 Billion Revenue Outlook Disappoints 

Macy’s shares fell 3.7% to $20.73 on September 10 despite the department-store retailer reporting second-quarter results above Wall Street expectations. The decline reflects investor concerns over the company’s full-year revenue outlook, which remained below analysts’ forecasts despite improved profit guidance. 

Macy’s reported adjusted earnings of $0.63 per share, beating the $0.35 consensus estimate by $0.28. Revenue rose 1.1% year over year to $4.9 billion, also ahead of the $4.78 billion expected. Comparable sales increased 2.7%, with Bloomingdale’s leading growth at 11.3%, followed by Bluemercury at 6.2% and Macy’s at 1.1%. 

The earnings figure was boosted by tariff refunds. Macy’s received $116 million in total refunds, with $98 million received during the quarter and another $18 million afterwards. The refunds contributed approximately $0.23 to adjusted EPS. Excluding the benefit, adjusted EPS was $0.40, still up 14% year over year. 

Macy’s raised its full-year revenue outlook to $21.675 billion-$21.825 billion and adjusted EPS guidance to $2.15-$2.35. However, the revenue midpoint of roughly $21.75 billion remained below the $21.91 billion analyst expectation cited in the update. 

The company also expects comparable sales to rise 1%-1.5% for the year. First-half operating cash flow improved sharply to $586 million from $255 million, while free cash flow reached $262 million. 

Despite stronger profitability and sales momentum, the weaker revenue outlook and reliance on tariff-related benefits have kept investors cautious. At $20.73, Macy’s remains well below its 52-week high of $26.58, underscoring continued pressure on the stock. 

Also Read: How to invest in US stocks

Culp Tops Q1 Estimates as Shares Rise 6.40% 

Culp Inc. (NASDAQ: CULP) reported fiscal first-quarter results above Wall Street expectations, supported by stronger bedding sales, improved margins and positive cash flow. The company posted earnings of $0.47 per share, compared with estimates of $0.44, while revenue reached $53.97 million, ahead of the $53.20 million forecast. 

Net income rose to $6.0 million from a $0.2 million loss a year earlier. Gross profit more than doubled to $15.4 million, while operating cash flow reached $8.1 million. Free cash flow turned positive at $7.8 million, compared with a $0.9 million outflow in the prior-year quarter. 

Bedding sales increased 13.2% year over year, becoming the main growth driver despite challenging demand across the home-furnishings market. Management said restructuring is largely complete, with greater focus now on efficiency, pricing discipline and cash generation. 

CULP traded at $3.714, up 6.40%, with an intraday range of $3.625–$4.10. Its 52-week range is $2.70–$4.80. The earnings beat and improvement in profitability and cash generation indicate continued progress in the company’s turnaround. 

Cooper Companies Stock Plunges 13.5% as Guidance Cut and Strategic Review Disappoint Investors 

Cooper Companies (NASDAQ: COO) shares plunged 13.5% to $54.91 on September 10, after the medical device maker reported weaker-than-expected third-quarter revenue and issued disappointing fourth-quarter and full-year guidance. 

Fiscal Q3 revenue rose 1% year-on-year to $1.07 billion, missing the $1.10 billion analyst consensus by around $30 million. Adjusted earnings per share, however, came in at $1.15, beating expectations of $1.12. CooperVision revenue was flat at $717 million, while CooperSurgical revenue increased 2% to $349.2 million. 

The bigger concern was the outlook. Cooper expects Q4 revenue of $1.057 billion-$1.080 billion, below the $1.11 billion consensus, while adjusted EPS guidance of $1.05-$1.09 trails the $1.19 estimate. Full-year revenue is forecast at $4.229 billion-$4.252 billion, versus expectations of $4.31 billion, while adjusted EPS guidance of $4.51-$4.55 is below the $4.63 consensus. 

Management said reduced US channel inventory at CooperVision weighed on results and would continue affecting Q4 performance. Investors were also disappointed after Cooper’s board decided to retain CooperSurgical following its strategic review launched in December 2025. Potential acquisition offers were deemed insufficient to reflect the division’s value. 

Analysts responded with downgrades, with Piper Sandler cutting its target to $59 from $86 and Baird lowering its target to $61 from $85. Despite record free cash flow of $273 million and an expanded $3 billion share repurchase authorisation, these positives failed to offset the weaker outlook. 

Blackstone Firm Agrees to Acquire Data Centre Cooling Firm Flow Control 

Blackstone (NYSE: BX) announced an agreement to acquire Flow Control Holdings (FCH), a US provider of engineered flow-control components for data centre liquid cooling and industrial markets. 

Blackstone funds affiliated with Blackstone Capital Partners and Blackstone Energy Transition Partners will acquire FCH from Audax Private Equity. Financial terms were not disclosed, while Audax will retain a minority stake and continue working with Blackstone and FCH management. 

Headquartered in Cincinnati, FCH supplies components used in coolant distribution units, in-row manifolds and secondary fluid networks for data centres. Its products are used by original equipment manufacturers and hyperscalers as demand for liquid cooling increases alongside high-performance artificial intelligence infrastructure. 

Blackstone said liquid cooling offers greater energy and chip efficiency, helping data centres support next-generation computing while reducing emissions. The firm plans to invest in FCH’s capacity expansion to meet rising demand. 

During Audax’s four-year ownership, FCH completed 10 acquisitions and expanded its capabilities across data centre cooling, food, beverage and pharmaceutical markets. 

The transaction is expected to close in the fourth quarter, subject to customary conditions. The deal reinforces Blackstone’s focus on AI infrastructure and data centre growth, one of its key investment themes. 

Despite the acquisition announcement, Blackstone shares declined 1.94% to $126.55, extending recent weakness. The stock is also trading well below its 52-week high of $190.08.  

SKYX Platforms Stock Falls 7.2% Despite Deako Acquisition Announcement 

SKYX Platforms (NASDAQ: SKYX) shares fell 7.15% despite the company announcing a merger agreement to acquire smart home technology firm Deako. Under the deal, SKYX will issue 25 million common shares to Deako shareholders, representing 18.46% of the company. Existing SKYX shareholders will own 84.4% of the combined entity, while Deako shareholders and lenders will collectively hold 15.6%. 

SKYX will also pay Deako’s lender $4 million at closing and issue an $8.5 million note. Of that amount, $2.25 million is due in the first quarter of 2027 and the remaining $6.25 million in the fourth quarter. 

Deako has shipped more than 32 million units over the past five years and generated over $26 million in revenue in 2025. It supplies more than 50 US homebuilders, including D.R. Horton and Toll Brothers. 

The acquisition combines SKYX’s ceiling outlet technology with Deako’s smart wall switches, creating a broader plug-and-play smart home platform. The combined companies will have more than 120 patents and pending applications. 

Deako founder and CEO Derek Richardson will remain in his role and lead growth across builder, hotel and professional markets. SKYX said the transaction could create opportunities for recurring revenue through product upgrades, AI services, monitoring, subscriptions and licensing. However, the stock remains far below its 52-week high of $3.29. 

Axogen Stock Announces $200 Million BioCircuit Acquisition; Shares Decline 9.94% 

Axogen (NASDAQ: AXGN) announced a $200 million agreement to acquire BioCircuit Technologies. The deal will add NerveTape, an FDA-approved sutureless device designed to help surgeons align and connect transected peripheral nerves without microsutures.  

Axogen expects the acquisition to strengthen its nerve repair portfolio and accelerate adoption through its commercial infrastructure, surgeon relationships and hospital network. Axogen will fund the acquisition through a public offering of common stock expected to raise approximately $208.7 million.  

The equity financing could increase shareholder dilution, which analysts identified as a potential concern despite viewing the acquisition as strategically attractive. BioCircuit, based in Atlanta, develops medical devices for peripheral nerve repair and has received funding from the National Institutes of Health and private investors. Its NerveTape technology is designed to simplify nerve repair procedures by eliminating specialised microsuturing techniques. 

Axogen expects the acquisition to be accretive to revenue growth, adjusted EBITDA margin and adjusted earnings per share during the first year following completion, while maintaining positive free cash flow. 

The transaction is expected to close in the fourth quarter of 2026, subject to customary conditions, including completion of BioCircuit’s electronics research and development business spin-out. Axogen shares declined 9.94% to $42.57, after opening at $45.14 and touching an intraday low of $42.01. The stock remains below its 52-week high of $52.91. 

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Centrus Energy Prices $500 Million Offering; Vistra Launches Subordinated Notes Offering 

Centrus Energy Corp. priced a $500 million underwritten public offering of 500,000 Class A common shares, pre-funded warrants for 2,005,513 shares and common warrants covering up to 6,992,382 shares. The common stock and accompanying warrants were priced at $199.64 per share, while pre-funded warrants were priced at $199.54, with a $0.10 exercise price. The common warrants have exercise prices of $226.8625, $272.2350, $317.6075 and $362.98. Centrus shares fell 7.86% to $167.43, trading between $166.24 and $176.13, versus a 52-week low of $142.13 and high of $464.25. 

Meanwhile, Vistra Corp. launched an offering of multiple series of junior subordinated unsecured notes through its subsidiary Vistra Operations Company LLC. The proceeds will support general corporate purposes, including potential redemptions of its 8.0% Series A and 7.0% Series B preferred stock. Vistra shares declined 2.17% to $147.81, trading between $147.80 and $152.78, compared with a 52-week low of $132.66 and high of $219.82. The offering is being managed by a syndicate of 21 joint book-running managers. 

Palantir Wins $192 Million U.S. Army Contract; Shares Fall 2.34% 

Palantir Technologies has won a $192 million U.S. Army production contract for eight TITAN ground stations, with Palantir’s portion valued at $127 million. The award moves the programme from the prototype phase into production, strengthening Palantir’s role in the Army’s AI-powered battlefield infrastructure. 

The contract covers four Advanced TITAN systems and four Basic systems, which will be delivered over 18 months. Palantir is the prime contractor and will work with partners including Anduril Industries. TITAN integrates data from space, aerial and ground sensors to provide actionable intelligence for military targeting and mission command. 

Despite the contract, Palantir Technologies (NASDAQ: PLTR) shares traded at $165.56, down 2.34% on September 10. The stock opened at $167.35, reached an intraday high of $169.00 and fell to a low of $164.55. Its 52-week range is $106.38 to $207.52. 

The decline comes as investors reassess the stock following its strong recent rally and amid broader pressure on technology shares. Palantir’s premium valuation remains a key focus for investors. 

Rheinmetall Wins $7.3 Million U.S. Marine Corps Contract  

Rheinmetall has won a $7.3 million contract to supply 12 Mission Master SP unmanned ground vehicles to the U.S. Marine Corps through its American Rheinmetall defence-vehicle unit. The order also includes kits for extended amphibious operations and supporting equipment. Rheinmetall said the systems will help improve autonomous logistics, extend operational reach and reduce personnel exposure to risk. 

The contract also supports the development of American Rheinmetall’s facility in Maine and represents a step towards potential future U.S. manufacturing and workforce expansion. While the order is modest relative to Rheinmetall’s overall business, it could create opportunities for follow-on contracts as demand for unmanned military systems grows. 

Rheinmetall AG’s ADR (RNMBY) traded at $235.53, up 0.64%, or $1.50, from the previous close of $234.03. The stock’s intraday range was $233.87–$237.74, while its 52-week range was $215.25–$466.51. Shares remained down about 35.76% year-to-date and 46.60% over one year. 

GrafTech Partners With Antora Energy; Rackspace Shares Surge 13% on NVIDIA Partnership 

GrafTech International Ltd. has entered a strategic collaboration with Antora Energy to develop and supply carbon-based materials for thermal batteries. The partnership will use GrafTech’s St. Marys, Pennsylvania facility to produce carbon materials for Antora’s battery modules, with eight bake furnaces restarted for the project. The companies have also hired workers and plan to recruit about a dozen additional employees. Antora’s thermal batteries store electricity as heat in solid-carbon blocks before converting it back into heat or electricity. 

GrafTech (NYSE: EAF) traded at $6.23, up 0.97%, with an intraday range of $6.10–$6.67. Its 52-week range was $4.92–$20.32. The collaboration could diversify GrafTech’s end markets and increase utilisation of its St. Marys facility. 

Meanwhile, Rackspace Technology (NASDAQ: RXT) shares rose sharply after the company joined the NVIDIA Cloud Partner Program. Rackspace plans to combine NVIDIA Blackwell computing with Palantir software and its governed private-cloud infrastructure for regulated enterprises and governments. The company also introduced its Institutional Sovereign Pod for data, security and compliance requirements. RXT traded at $3.24, up 0.31%, with a day range of $3.15–$3.27 and a 52-week range of $0.39–$8.60. 

Invenergy and HASI Close 2.7 GW Renewable Energy Partnership as HASI Shares Fall 2.40% 

Invenergy and HA Sustainable Infrastructure Capital (NYSE: HASI) have closed a strategic equity partnership supporting a 2.7 GW portfolio of renewable energy projects across the United States. The portfolio includes 10 utility-scale solar, solar-plus-battery storage and wind projects spanning seven states and six major power markets. 

More than 850 MW is already operational, while the remaining projects are expected to enter service by the first quarter of 2027. HASI will fund each project as it reaches commercial operation, while Invenergy will retain majority ownership and control of day-to-day operations. The projects are supported by long-term agreements with investment-grade corporate, utility and public-sector offtakers. 

The partnership is expected to help Invenergy recycle capital and support further growth, while combining its development and operating expertise with HASI’s long-term infrastructure financing capabilities. Invenergy described the transaction as supporting its expansion across the US renewable energy sector. 

HASI shares traded at $37.48, down 2.40%, with an intraday range of $37.46–$38.25. The stock’s 52-week range is $27.28–$44.13. 

HASI manages more than $17 billion in assets, while Invenergy describes itself as North America’s largest privately held developer, owner and operator of independent power infrastructure. CIBC Capital Markets advised Invenergy, with Sidley Austin and Baker McKenzie providing legal counsel to the respective parties. 

Apple Introduces First Foldable iPhone Duo as Shares Rise 3.18% 

Apple has introduced the iPhone Duo, its first foldable iPhone, featuring a 7.6-inch inner display when opened and a 5.4-inch outer display when folded. Apple says the device is its thinnest iPhone yet, while the nano-texture finish is designed to minimise glare. 

Both displays use the same aspect ratio, allowing content to scale proportionally between the two screens. The device also features a precision hinge and a redesigned hardware architecture aimed at delivering a smooth folding experience. 

Powered by the new A20 Pro chip, the iPhone Duo includes a custom vapour chamber for thermal management and a dual-battery architecture designed to support all-day battery life. Its advanced camera system also uses the folding design to offer new ways to capture photos and videos. 

The device runs iOS 27 and integrates Apple Intelligence and Siri AI features. Meanwhile, Apple Inc. (NASDAQ: AAPL) shares were trading at $325.37, up 3.18% or $10.03, at 2:56 pm GMT-4 on 10 September. The stock opened at $316.67 and reached an intraday high of $325.68. 

Also Read: What Is the S&P 500? A Simple Guide for Everyday Investors

Orion180 Seeks to Raise $340 Million in IPO 

Orion180 Insurance Group Inc. has filed with the U.S. Securities and Exchange Commission to raise up to $340 million through an initial public offering. The specialty homeowners and flood insurer plans to offer 20 million Class A common shares at an estimated price of $15 to $17 per share. 

Based in Melbourne, Florida, Orion180 began operations in 2018 and has grown into the second-largest excess and surplus lines homeowners insurance provider in the US by direct written premiums. The company operates across 14 states and reported approximately $601 million in managed premiums written for the 12 months ended June 30, 2026. It has sold more than 670,000 policies since inception. 

Orion180 offers excess and surplus and admitted homeowners’ insurance, private flood insurance and ancillary products through more than 14,000 active independent agents. Its operations include managing general agency and claims services, alongside fronting carriers that reinsure most insurance risk. 

The company reported $16.3 million in net income in 2025, compared with a $288,000 loss in 2024. For the six months ended June 30, 2026, net income reached $13.5 million, versus a $3 million loss a year earlier. 

Orion180 has applied to list on the Nasdaq Global Select Market under OIG. RBC Capital Markets, UBS Investment Bank and Raymond James are serving as lead underwriters. 

Elevation Acquisition Group Files for $100 Million SPAC IPO 

Elevation Acquisition Group has filed with the U.S. Securities and Exchange Commission to raise up to $100 million through an initial public offering, targeting cash flow-positive businesses with defensible competitive positions. 

The blank check company plans to offer 10 million units at $10 each. Every unit will include one share of common stock and one right to receive one-sixth of a share when the company completes a business combination. 

Founded in 2026 and based in Aventura, Florida, Elevation Acquisition Group intends to focus on businesses positioned to benefit from artificial intelligence adoption, heavy-asset industries and the space sector. The company is led by CEO Anthony Sarkis, Chief Strategy Officer at Parabole.ai, and CFO Joseph Yankovich, CFO of Dominion Capital. 

Chairman Matthew Kearney, CEO of COA Group, previously led Mount Rainier Acquisition through its 2023 business combination with HUB Cyber Security. Sponsor Dominion Capital is expected to hold a 14% post-IPO stake, while Sarkis and Kearney will own 2% and 1%, respectively. 

Elevation plans to list its units on the Nasdaq under the symbol ELEVU. The company initially filed confidentially on May 6, 2026. Maxim Group LLC is serving as the sole bookrunner for the offering. 

The session demonstrated clear divergence between companies with visible, contracted growth and those reliant on one-time benefits. AeroVironment’s record backlog and defence awards, Palantir’s $192 million Army contract, and the NVIDIA-Palantir sovereign AI partnership provided concrete revenue visibility. Conversely, Macy’s tariff-dependent guidance and Cooper Companies’ inventory-driven guidance cut highlighted the risks of extrapolating temporary advantages. Investors should monitor follow-through on the Blackstone-Flow Control deal, SKYX-Deako merger integration, and Axogen’s BioCircuit acquisition for execution milestones. 

Source 

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