SAIC Surges 8% After Earnings Beat as Aon Eyes $17B USI Deal and SLB Signs $4.1B Kelvion Buy

Mumbai, Sept 1: US markets saw notable corporate developments on August 31, with earnings, acquisitions, strategic partnerships and financing deals driving individual stock moves. SAIC shares climbed more than 8% after earnings beat and higher FY2027 guidance, while Aon announced a $17 billion USI acquisition and SLB agreed to buy Kelvion for $3.4 billion. Several other companies also recorded sharp moves following business updates and capital-raising announcements. 

SAIC Shares Gain More Than 8% After Earnings Beat and Higher FY2027 Guidance 

Science Applications International Corp. (NASDAQ: SAIC) reported a strong fiscal second-quarter performance, sending its shares sharply higher on 31 August. The stock traded as high as $142.66 during the session and quoted at $136.23, up 8.15% from the previous close of $125.96. The stock opened at $140.39, showing that investors initially responded strongly to the results. 

SAIC reported revenue of $1.88 billion, up approximately 6.3% year over year from $1.77 billion. Organic growth reached 5.3%. Adjusted diluted EPS came in at $3.01, while diluted EPS stood at $2.38. Adjusted EBITDA reached $193 million, representing a 10.3% margin. 

The company also raised its fiscal 2027 guidance for revenue, adjusted EBITDA, adjusted EBITDA margin and adjusted EPS. Management cited solid organic growth and strong execution as key drivers. 

The share-price reaction shows that investors placed greater weight on the earnings beat and improved outlook than on lower reported net income and adjusted EPS compared with the prior-year quarter. The stock’s move also came despite a weaker broader U.S. market. 

BioLineRx Shares Remain Under Pressure Despite GLIX1 Progress 

BioLineRx Ltd. (NASDAQ: BLRX) reported a $4.3 million net loss for the second quarter, compared with a $3.9 million loss a year earlier. Revenue remained around $0.3 million, while research and development spending increased as the company advanced its GLIX1 oncology programme. 

The company continued dosing patients in the second of five planned cohorts in its Phase 1/2a GLIX1 study for glioblastoma. It expects the third cohort to begin dosing in September. BioLineRx also reported preclinical evidence showing anti-tumour activity in a temozolomide-resistant glioblastoma model and synergy with PARP inhibitors in an ovarian cancer model. 

However, the earnings update came after BioLineRx announced a $3.75 million financing on 28 August. The offering involved ADSs and warrants and had already pressured the stock. The market response remained cautious, with BLRX trading at $2.58, down 4.44% 

So-Young Gains as Revenue Growth and Clinic Expansion Attract Buyers 

So-Young International Inc. (NASDAQ: SY) reported record second-quarter revenue and received a positive market response. The company reported RMB505.2 million ($74.5 million) in total revenue, up 33.4% year over year. This figure is slightly different from the RMB510 million rounded figure used in the original draft. 

Aesthetic treatment revenue remained the main growth driver, increasing about 130% to approximately RMB331.4 million. Gross margin for the segment improved by 3.8 percentage points to 28.1%. 

The company also reduced its net loss by approximately 37% to RMB22.7 million. Its clinic network expanded to 65 centres across 18 cities, while verified visits increased sharply. Shares traded substantially higher following the release. Pre-market trading showed the stock up as much as 15.41% at $2.77, compared with the previous close of $2.40. 

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LexinFintech Falls More Than 13% as Funding Pressure Overshadows Results 

LexinFintech Holdings Ltd. (NASDAQ: LX) delivered one of the weakest share-price reactions among the companies covered here. The stock fell to around $1.02, down approximately 13.6% in the latest intraday data, after the company reported weaker second-quarter results and warned about further pressure in the third quarter. 

Lexin reported second-quarter revenue of approximately CNY1.3 billion, while net income fell sharply. The company said tighter funding conditions across the sector affected loan origination and funding availability. 

Loan origination volume declined 4.3% sequentially, while credit costs rose 9.6% sequentially to approximately CNY1.4 billion. The 90-day-plus delinquency ratio increased to 3.6% from 3.5%. 

Management also expects risk indicators and costs to increase further during the third quarter and anticipates a net loss, partly because of restructuring expenses. 

Pulsenmore Shares Face Pressure Despite 53% Revenue Growth 

Pulsenmore Ltd. (NASDAQ: PLSM) reported first-half 2026 revenue of NIS6.1 million, up 53% from NIS4 million a year earlier. The company continued expanding its U.S. commercial operations after receiving FDA market authorisation for its home ultrasound platform. 

The company recorded its first U.S. home ultrasound patient scan in February and signed initial commercial agreements with healthcare providers in California and Maryland. It also launched a U.S. e-commerce platform in April. 

Despite this progress, the company continued to report substantial operating losses. Its six-month operating loss reached approximately NIS20.8 million, while net financial expenses rose sharply because of its private placement. 

The shares were trading at $2.615, down 1.69%, with an intraday range of $2.59–$2.71. Volume stood at 27,808, versus average volume of 1.41 million. The muted reaction reflects the market’s focus on the gap between commercial expansion and current profitability. Investors are watching whether the new U.S. operations can translate early commercial activity into recurring revenue. 

GameStop Rises More Than 4% as Profit Outlook Overshadows Sales Decline 

GameStop Corp. (NYSE: GME) also attracted buyers after releasing preliminary second-quarter results. The stock was trading around $18.68, up approximately 4.5% during the session. 

GameStop expects second-quarter sales of $780 million to $800 million, below the $972.2 million reported a year earlier. The company attributed the decline largely to the comparison with the previous year’s Nintendo Switch 2 launch, store closures and the divestiture of its France operations. 

However, operating income is expected to rise to $150 million-$170 million, from $66.4 million. Net income is projected at $290 million-$310 million, compared with $168.6 million a year earlier. The projected profit includes a roughly $238 million gain connected with its eBay derivative asset and equity investment. 

GameStop also revised its convertible-note exchange. The transaction will now involve approximately 55.5 million shares and $358.4 million in cash, while around $2.8 billion of notes will remain outstanding after the exchange. 

C1 Fund Declines as Digital-Asset Portfolio Remains Under Scrutiny 

C1 Fund Inc. (NYSE: CFND) reported that it had deployed approximately $41.3 million across 11 digital-asset-related portfolio companies, equal to about 77.5% of net assets. U.S. Treasury investments represented another 23.3%. 

The fund’s largest holdings included Ripple Labs at 17.49% of net assets and Payward, the parent company of Kraken, at 16.92%. It also added Polymarket, Fireblocks, Uphold and BitGo during 2026. 

Despite the portfolio update, CFND was trading at approximately $2.77, down 2.81% from its previous close of $2.85 in the latest available market data. 

The decline suggests that investors did not immediately attach a positive valuation response to the portfolio disclosure. CFND remains a relatively small and thinly traded closed-end fund, which can amplify daily price movements. 

Gorilla Technology Gains as AI Infrastructure Story Supports Shares 

Gorilla Technology Group Inc. (NASDAQ: GRRR) reported first-half 2026 revenue of $78.4 million, nearly double the prior-year figure. Second-quarter revenue reached approximately $50.1 million, while its operating loss narrowed sharply from the first quarter. 

Management raised its full-year revenue outlook to at least $200 million, compared with the previous range of $137 million-$200 million. The company also expects continued growth from GPU-as-a-Service and AI infrastructure projects. Shares were reported around $15.17, up roughly 5%, during Monday’s session, although later market data showed considerable volatility. 

Eli Lilly’s $2.88B Merida Buy Expands Autoimmune Pipeline Beyond Obesity Drugs 

Eli Lilly & Co. (NYSE: LLY) announced on Monday it would acquire privately held Merida Biosciences for up to $2.88 billion in cash, strengthening its immunology portfolio with an experimental treatment for thyroid-related autoimmune conditions. The pharma giant, which recently touched $1 trillion in market capitalisation, has been on an acquisition spree following windfall profits from its weight-loss drugs, with deal spending in 2026 outpacing prior years as the company aims to expand beyond obesity and diabetes. 

Merida is developing a new class of precision therapeutics designed to selectively target antibodies that cause a range of immunity-related conditions. Its lead drug candidate, MER511, is in early-stage development for autoimmune disorders such as Graves’ disease and thyroid eye disease. Initial data showed MER511 substantially lowered thyroid-stimulating antibodies linked to these diseases while demonstrating a favourable initial safety profile. 

Francisco Ramírez-Valle, senior vice president of Lilly immunology research, said: “We’re building our pipeline around therapies that meaningfully change the course of disease, not just its downstream effects. Merida’s lead program is designed to do exactly that.” The deal includes an upfront amount and milestone-based payments, with the transaction expected to close in the fourth quarter. Merida’s pipeline also includes MER769, an experimental treatment for food allergy, asthma and other allergic diseases, along with earlier-stage programmes for kidney and other immune-mediated conditions. 

LLY shares were trading at $1,174.61, down 0.13% on the day, reflecting profit-taking following recent strong gains that had pushed the stock to a 52-week high of $1,292.65 on August 19. The stock has pulled back approximately 10.5% from its peak. Leerink Partners analyst David Risinger noted: “We see this acquisition as further evidence of management’s intent to diversify Lilly’s pipeline beyond obesity.” 

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Aon’s $17B USI Insurance Buy Strengthens Middle-Market Foothold 

Aon plc (NYSE: AON) agreed to acquire USI Insurance Services from KKR and other shareholders for $17 billion in cash, extending its push into the US middle-market insurance segment following its $13 billion purchase of NFP in 2024. USI ranks as the tenth largest US insurance broker, generating approximately $3 billion in annual revenue and employing more than 10,500 people across close to 200 offices nationwide. 

The Valhalla, New York-based firm offers property and casualty, employee benefits, personal risk and retirement services to mid-sized businesses. Aon said the acquisition would strengthen its foothold in the US middle-market segment — a space it values at more than $40 billion — while broadening its reach into the excess and surplus insurance segment, which accounts for 26% of US commercial property and casualty premiums. 

Aon CEO Greg Case said: “USI will substantially enhance our middle-market footprint and expand access for our firm in the E&S segment.” Following the transaction’s close, USI Chairman and CEO Mike Sicard will become president of Aon and global CEO of its middle-market business. Aon expects to fund the acquisition entirely through new debt and anticipates remaining investment-grade rated, with no near-term share repurchases as it prioritises debt reduction. The deal is expected to add to adjusted earnings per share in 2028 and generate $395 million in annual run-rate net adjusted EBITDA from synergies. 

For KKR, the sale represents a significant exit, delivering approximately six times its return on a 2017 investment and a 3.4 times return on capital across the full life of its USI position. AON shares were trading at $355.40, up 1.67% during the session. 

ONEOK’s $4.4B Permian Acquisition Backed by $9B Apollo Investment 

ONEOK Inc. (NYSE: OKE) executed a definitive agreement to acquire Brazos Midstream’s Permian Midland Basin natural gas gathering and processing assets for $4.425 billion in cash. The acquisition will be funded through a $9 billion nonvoting minority equity investment from Apollo-managed funds, with ONEOK intending to use $5 billion of proceeds to reduce existing indebtedness. 

The transaction implies a multiple of approximately 7.5 times estimated 2027 EBITDA, inclusive of approximately $80 million of full-year synergies, and approximately 6.0 times estimated 2028 EBITDA. The acquired Brazos Midland assets include approximately 600,000 dedicated acres under long-term fixed-fee contracts with a weighted average remaining term of more than 12 years, supported by 14 active drilling rigs from leading Permian producers including ExxonMobil, Diamondback Energy and Double Eagle. 

Following completion of the Cassidy II processing plant expected in the third quarter of 2027, the Brazos Midland system will include approximately 700 miles of gathering infrastructure and 1.2 billion cubic feet per day of processing capacity across seven core Permian Midland Basin counties. The acquisition more than doubles ONEOK’s Midland Basin processing capacity to approximately 2.3 Bcf/d. 

The Apollo investment carries an internal rate of return capped at 7.0% for the first nine years, lower than ONEOK’s cost of publicly traded equity. ONEOK expects the transaction to be immediately accretive to earnings and free cash flow per share while accelerating deleveraging to 3.25 times debt-to-EBITDA. OKE shares were trading at $94.76, up 1.47% in pre-market trading, near its 52-week high of $97.90. 

SLB Acquires Kelvion for $3.4B to Expand Data Centre Thermal Management 

SLB (NYSE: SLB) entered into a definitive agreement to acquire Kelvion, a thermal management solutions manufacturer, for approximately $3.4 billion in cash and will assume approximately $0.7 billion of debt. Kelvion is currently majority owned by Apollo-managed funds, with funds advised by Triton holding a minority interest. 

Kelvion develops and manufactures cooling solutions for industrial and energy infrastructure markets, with data centres representing its largest and fastest-growing segment. SLB’s data centre solutions business expects cumulative deliveries to exceed 2 gigawatts globally by year-end, and the company stated the transaction would more than double its revenue opportunity per gigawatt of delivered capacity. 

CEO Olivier Le Peuch said: “This transaction accelerates our ambition to become an industrial technology partner to the data center industry.” The Apollo Funds’ investment in Kelvion completed in January 2026, and Apollo Funds have deployed more than $155 billion across infrastructure investments over the past five years. The transaction is expected to close in the first half of 2027. SLB shares surged 4.22% to $57.33 on the news. 

Helix Shareholders Approve All-Stock Merger with Hornbeck 

Helix Energy Solutions Group Inc. (NYSE: HLX) announced that its shareholders approved the proposals necessary to complete its all-stock combination with Hornbeck Offshore Services Inc.. The transaction is expected to close on September 1, 2026. 

Upon completion, Hornbeck securityholders will own approximately 55% and Helix shareholders approximately 45% of the combined company on a fully diluted basis. The combined entity will operate under the name Hornbeck Offshore Services Inc. and trade on the New York Stock Exchange under the ticker symbol HOS.  

Helix, headquartered in Houston, provides specialty services to the offshore energy industry focusing on well intervention, robotics and decommissioning operations. HLX shares were trading at $10.14, up 0.20%. 

NeoVolta Jumps 24% on 18 GWh SK On Battery Supply Deal 

NeoVolta Inc. (NASDAQ: NEOV) shares jumped sharply following the announcement that its majority-owned subsidiary, NeoVolta Power, entered into a strategic supply and manufacturing collaboration with SK On. The agreement secures 9 gigawatt-hours of US-manufactured lithium iron phosphate battery cells from SK On from 2027 through 2031, with a framework for an additional 9 GWh of cells, bringing total collaboration to 18 GWh. 

Under the five-year deal, SK On will serve as the primary cell supplier for NeoVolta Power’s LFP pouch-cell-based battery energy storage system products. The partnership is expected to support NeoVolta Power’s expansion from its initial Pendergrass production line to a two-line manufacturing platform targeting up to 8 GWh of annual BESS production capacity in 2028. NEOV shares were trading at $3.34, down 5.92% following the announcement. 

Tata Advanced Systems-Javelin Partnership and Cohen & Steers’ $82.73 Share Reaction Highlight Key Deals 

Tata Advanced Systems Limited and the Javelin Joint Venture, a partnership between Raytheon and Lockheed Martin (NYSE: LMT), signed a memorandum of understanding to explore co-production of the Javelin All Up Round in India. Tata Advanced Systems will serve as the prime partner for future in-country production. The proposed facility could support final assembly, integration and component manufacturing while creating defence jobs in India and sustaining US production. The Javelin Joint Venture has produced more than 55,000 missiles and 12,000 reusable Command Launch Units. LMT shares traded at $563.85, down 0.36%. 

Separately, Cohen & Steers (NYSE: CNS) announced that its Real Estate Opportunities Fund acquired Oak Hill Plaza, a shopping centre in Austin, Texas, through a joint venture with Trademark Property Company. The property was 92.5% occupied and benefits from a nearby population of around 60,000, a $120,000 median household income and a $688,000 median home value. CNS shares traded at $82.73, up 0.12%, indicating a modest market response. 

Nasdaq Listings Expand as Turbogen, Offerpad and Samos Energy Begin Separate Trading 

Turbogen Ltd. began trading on the Nasdaq Capital Market under TRBG, while retaining its Tel Aviv Stock Exchange listing as TURB. The company develops multifuel microturbine-based combined heat and power systems for local electricity and heat generation. 

Meanwhile, Offerpad Solutions (NYSE: OPAD) transferred its Class A common stock listing from the NYSE to Nasdaq while retaining its OPAD ticker. OPAD shares traded at $4.41, down 1.67%. 

Samos Energy Acquisition Corporation (NYSE: SAMO.U) also announced that holders can separately trade its Class A shares and warrants. The securities will trade as SAMO and SAMO.WS, while unseparated units remain SAMO.U. SAMO units traded at $9.92, unchanged. 

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Corvex Announces 5x Data Centre Capacity Expansion with $33M PIPE 

Corvex Inc. (NASDAQ: MOVE) announced a more than fivefold increase in its critical IT power capacity, from approximately 1.5 MW today to approximately 8 MW by year-end 2026. The expansion involves doubling capacity at the company’s existing Mid-Atlantic data centre and establishing operations at a second facility in the Midwest. 

The deployments are expected to bring approximately 2,000 latest-generation GPUs online at the Midwest site, with approximately 1,000 additional GPUs at the Mid-Atlantic site. Corvex has secured a right of first refusal on an additional 12.5 MW of critical IT power capacity at the Midwest site, which could scale total capacity to more than 20 MW. 

The expansion will be funded with proceeds from a private placement of common stock and Series D Preferred Stock led by Goldman Sachs & Co. LLC, Morgan Stanley and Oppenheimer & Co., expected to generate approximately $33 million in gross proceeds. MOVE shares surged 2.96% to $11.49. 

Gilat’s $100M Convertible Notes and FingerMotion’s $4M Offering Drive Sharp Share Moves 

Gilat Satellite Networks (NASDAQ: GILT) secured commitments for a private placement of convertible notes worth approximately $100 million. The notes carry a 3.75% interest rate and mature in 2031, with a $16 conversion price, representing a 60% premium to its August 28 closing price of $9.94. Proceeds will support general corporate needs and investments in satellite and space technologies. GILT shares traded at $9.94, down 4.05%. 

Meanwhile, FingerMotion agreed to a $4 million registered direct offering comprising 3.96 million shares at $0.24 and 12.71 million pre-funded warrants at $0.2399. The company plans to use the proceeds for working capital and general purposes. FNGR shares traded at $0.3980, up 129.53%, marking a sharp market reaction. 

Host Digital Secures $1.25B AI Data Centre Lease 

Healthy Choice Wellness Corp. (NYSE American: HCWC) announced that Host Digital Infrastructure LLC secured a 15-year lease with one of the world’s largest privately held cloud infrastructure companies. The long-term, committed, take-or-pay agreement represents approximately $1.25 billion in contracted revenue over the 15-year base term and covers 43 MW of critical IT load capacity at Host Digital’s northeast Oklahoma facility. 

The lease includes annual rent escalators and renewal options, representing approximately $3.2 billion in contracted revenue if all renewal options are exercised over a 30-year total term. Delivery to tenant is expected in the first half of 2027. HCWC stockholders approved all proposals required to complete the previously announced merger with Host Digital, with the combined company expected to continue trading on the NYSE American under the ticker symbol HOST. HCWC shares were trading at $0.2413, down 6.65%. 

Corporate earnings and deal activity remained key stock catalysts, with SAIC raising its outlook after a $1.88 billion revenue quarter, while Aon’s $17 billion USI acquisition strengthened its middle-market position. SLB’s $4.1 billion Kelvion deal expanded its data-centre strategy, while ONEOK’s $4.4 billion Permian acquisition added further scale. Together, these developments highlighted continued focus on earnings growth, strategic expansion, AI infrastructure and large-scale M&A.  

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