Trip.com, J.B. Hunt, Forgent, Axon and More Move Sharply as Corporate Catalysts Drive US Stocks

Mumbai, Sept 17: US equity markets saw a wide range of company-specific moves on 16 September 2026 as investors assessed earnings updates, corporate transactions, new contracts and strategic initiatives. Semiconductor developments, travel-sector growth, freight-cost pressures, defence awards and fresh funding plans shaped sentiment across individual stocks.  

While stronger earnings and major contracts supported gains in several names, profit warnings, asset sales and restructuring concerns pressured others. The varied reactions highlighted how corporate catalysts continued to drive stock performance across the market. 

Trip.com Shares Gain 4% to $40.82 as Q2 Adjusted EPS Beats Estimates by 28%; $5.2 Billion Penalty Drives GAAP Loss 

Trip.com Group’s US-listed shares rose 4.00% to $40.82, up from the previous close of $39.25, after the company reported stronger-than-expected second-quarter adjusted earnings and revenue. The stock opened at $40.51 and traded between a day’s high of $41.08 and a low of $39.44. 

The earnings surprise supported the share-price response, with non-GAAP diluted EPS at RMB7.27, about 28% above the RMB5.67 Visible Alpha consensus. Revenue rose 6% year on year to RMB15.66 billion, slightly ahead of the RMB15.56 billion estimate. 

However, the company reported a RMB2.4 billion GAAP net loss, mainly because of a RMB5.2 billion anti-monopoly penalty imposed by China’s State Administration for Market Regulation. Excluding the penalty, Trip.com said net income would have been RMB2.7 billion, helping explain why the market response remained positive despite the reported loss. 

Trip.com’s international platform also recorded revenue growth of more than 50% year on year, while accommodation revenue increased 6% to RMB6.6 billion and packaged-tour revenue rose 8% to RMB1.2 billion. 

J.B. Hunt Shares Sink 13.68% to $235.71 as Q3 EPS Warning Points to 5%-10% Earnings Decline 

J.B. Hunt Transport Services shares fell 13.68% to $235.71, down $37.34, after the company warned that third-quarter earnings could decline 5%-10% sequentially as rising diesel fuel and driver-related costs outpace pricing gains. The stock opened at $242.88 and climbed to an intraday high of $250.00, before falling to a low of $235.19. The latest price leaves the shares well below their 52-week high of $299.76. 

Management indicated that Q3 EPS could be around $1.77 at the midpoint, approximately 16% below the current $2.10 consensus estimate. The company also flagged $25 million in incremental driver-related costs and at least a $10 million sequential fuel headwind. 

Diesel prices rose 10% sequentially from July to August, with prices increasing in eight of the first 11 weeks of the quarter. The cost pressure is particularly significant because 96% of J.B. Hunt’s operating income comes from its intermodal and dedicated businesses, where pricing adjustments tend to lag market changes. 

The warning therefore triggered a sharp share-price reaction as investors weighed near-term margin pressure against the company’s continued strong freight demand and upcoming intermodal contract renewal cycle. 

Forgent Power Solutions Shares Surge 11.93% to $35.09 as FY2026 Results and $2 Billion Backlog Lift Sentiment 

Forgent Power Solutions shares surged 11.93% to $35.09, gaining $3.74, after the company released its fiscal fourth-quarter and full-year 2026 results. The stock opened at $33.14, reached an intraday high of $35.44 and touched a low of $33.00. 

The latest rally followed strong expectations around the earnings release, supported by the company’s earlier growth momentum. In fiscal Q3, revenue more than doubled year on year to $379 million, while bookings reached a record $867 million, up 308%, pushing backlog to nearly $2 billion. 

Management had previously raised FY2026 revenue guidance to $1.35 billion-$1.39 billion, with the midpoint representing approximately 82% year-on-year growth. Ahead of the results, Wall Street expectations were around $425 million-$430 million in Q4 revenue and $0.23 adjusted EPS. 

The share-price response comes after a period of pressure on Forgent Power Solutions, with the stock having declined sharply over the preceding three months amid post-IPO lock-up expirations and secondary offerings. The combination of earnings expectations, backlog visibility and continued demand from data-centre and power-grid markets helped drive the latest move higher. 

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Axon Shares Rise 6.58% to $471.15 as $1 Billion Zero-Coupon Notes Deal Supports Growth Funding 

Axon Enterprise shares climbed 6.58% to $471.15, gaining $29.07, after the company priced a $1 billion 0% convertible senior notes offering due 2031. The stock opened at $441.33, reached an intraday high of $471.85 and touched a low of $439.51. 

Axon expects approximately $986 million in net proceeds after offering expenses, or around $1.134 billion if underwriters fully exercise their additional $150 million option. The notes mature on September 15, 2031, unless converted, redeemed or repurchased earlier. 

The notes carry an initial conversion price of approximately $652.06 per share, while Axon is using about $99.9 million of proceeds for capped-call transactions designed to reduce potential dilution. The capped-call cap price is $1,049.94, representing a 137.5% premium to Monday’s $442.08 closing price. 

The remaining proceeds will be used for general corporate purposes, including potential investments in or acquisitions of products, services and technologies. The financing announcement coincided with the stock’s sharp rise, as investors responded to the company securing substantial capital for future growth while limiting potential conversion-related dilution. 

Beta Bionics Shares Rise 7.44% to $20.66 as $150 Million Offering Fuels Commercialisation Plans 

Beta Bionics shares climbed 7.44% to $20.66, gaining $1.43 on September 16, 2026, after the company priced a $150 million public offering at $17.25 per share. The stock opened at $18.61, reached an intraday high of $21.00 and touched a low of $18.40. 

The offering comprises 7,652,175 common shares priced at $17.25 each, alongside pre-funded warrants for 1,043,484 shares priced at $17.2499. Underwriters also received a 30-day option to purchase up to 1,304,348 additional shares. 

Beta Bionics said proceeds will support commercialisation of its Mint product, manufacturing expansion, research and development, clinical development, product enhancements and working capital. The offering is expected to close around September 17, 2026. 

The share-price response came as investors weighed the fresh capital against potential dilution from the new shares and warrants. Beta Bionics is a commercial-stage medical-device company focused on insulin-delivery technology, including its iLet Bionic Pancreas, an FDA-cleared automated insulin-delivery device. 

Boeing Shares Announces $552 Million Navy Contract; Shares Slip 0.03% to $209.55   

Boeing shares were broadly flat, edging down 0.03% to $209.55, a decline of $0.07, on , despite the company securing a $552.05 million US Navy contract for MQ-25A Stingray aircraft. The stock opened at $210.19, reached an intraday high of $212.22 and fell to a low of $208.74. 

Under the contract modification, Boeing will produce three low-rate initial production Lot One MQ-25A aircraft and procure long-lead components for three additional Lot Two aircraft. Work is scheduled for completion by July 2031, with the majority of activity taking place in St. Louis, Missouri. 

The Navy contract was accompanied by a separate $16.18 million Boeing contract for intercontinental ballistic missile door launchers, extending through September 2030. 

Despite the combined defence awards, Boeing’s latest share-price movement remained muted, suggesting the contracts did not materially change near-term market sentiment. The stock is currently below its 52-week high of $254.35 and above its 52-week low of $176.77. 

Microsoft Increases Quarterly Dividend by 7.7% to $0.98 Per Share 

Microsoft announced a 7.7% increase in its quarterly dividend to $0.98 per share, from $0.91 previously. The higher dividend reflects Microsoft’s continued cash generation as the company simultaneously commits substantial capital to data centres and computing infrastructure for artificial intelligence. The new dividend will be paid on December 10 to shareholders of record on November 19. 

Microsoft’s indicated dividend yield remains relatively modest at around 0.79%, meaning the announcement is more significant as an indicator of the company’s cash-return capacity than as an income-focused catalyst. 

The share-price response remained negative as investors continued to assess whether Microsoft can sustain shareholder returns while funding its expanding AI infrastructure commitments. The shares fell 0.69% to $493.71, down $3.41. The stock opened at $493.03, reached a high of $495.97 and touched a low of $491.13. The stock remains below its 52-week high of $553.72, but above its 52-week low of $349.20. 

Chord Energy Shares Sink 5.31% to $148.67 as $550 Million Marcellus Asset Sale Weighs on Stock 

Chord Energy Corp shares fell 5.31% to $148.67, down $8.33, on Wednesday, as investors weighed the company’s planned $550 million sale of its non-operated Marcellus assets to POSCO International. The stock opened at $153.33, touched a high of $154.68 and a low of $146.18. 

The transaction covers approximately 32,000 net acres and trailing 12-month production of around 121 million cubic feet per day, entirely residue gas. Chord has received a $55 million deposit, with the balance payable when the deal closes, expected in Q4 2026. 

The divestment is intended to sharpen Chord’s portfolio focus on the Williston Basin, with proceeds to be deployed under its capital allocation framework. Post-sale, oil weighting is expected to increase by 4–5 percentage points, while gas realisations could decline by 16–30 percentage points. Lease operating expenses are expected to rise by $0.70–$0.80 per barrel of oil equivalent, partly offset by about $25 million in annual capital expenditure savings. 

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AEVEX Shares Rise 1.30% to $16.32 as $92.2 Million SkyRange Contract Boosts Defence Outlook 

AEVEX Corp shares rose 1.30% to $16.32, gaining $0.21, after the company was selected for a contract worth up to $92.2 million over three years to support the Department of War’s Test Resource Management Center SkyRange programme. The stock opened at $16.80, reached a high of $16.97 and touched a low of $15.99. 

The contract strengthens AEVEX’s position in airborne mission systems and hypersonic testing infrastructure. Under the award, the company will provide airborne range integration, flight operations, telemetry relay, resilient communications, payload integration and distributed range networking. 

SkyRange is designed to modernise hypersonic flight testing by using high-altitude airborne platforms, including converted unmanned aircraft, to collect and relay real-time telemetry. The approach is intended to increase testing frequency and flexibility across Western US and Pacific corridors. 

The contract win provides AEVEX with additional multi-year defence work while expanding its role in advanced airborne networking and operational test support. 

OSI Systems Bags $90M US Government Orders; DLH Holdings Jumps 8.40% on $43.7M Contract; Medtronic Gets FDA Clearance for LigaSure RAS Maryland  

OSI Systems shares rose 0.62% to $203.85, gaining $1.26, after its Security division received approximately $90 million in orders from US Government customers for RF communication products and related services. The stock opened at $205.63, hit $206.38 and fell to $203.00. The awards cover VLF communication systems, high-frequency transmission products and support services. 

DLH Holdings climbed 8.40% to $3.94, up $0.30, after receiving a task order worth up to $43.7 million from the National Heart, Lung, and Blood Institute. The contract covers IT, cloud infrastructure, cybersecurity and AI-enabled operations supporting about 2,000 employees and contractors. The stock opened at $4.03 and traded as low as $3.72. 

Meanwhile, Medtronic received FDA clearance for its LigaSure RAS Maryland jaw device for the Hugo robotic-assisted surgery system. Despite the news, the shares declined 0.34% to $93.43, down $0.32. The stock opened at $93.44, reached $94.54 and touched $93.26. The clearance expands Hugo’s robotic surgery instrument portfolio in the US. 

American Savings Bank Shares Rise 4.75% to $16.76 After $16 IPO Pricing; ProCap Financial, Huuuge Announce Share Buybacks 

American Savings Bank shares rose 4.75% to $16.76, gaining $0.76, after the Hawaii-based bank priced its IPO at $16 per share. The stock opened at $17.00, reached a high of $17.45 and touched a low of $16.75. The IPO comprises 8,057,240 shares sold by existing stockholders, meaning the bank will not receive proceeds. Underwriters also have an option to purchase up to 1,208,586 additional shares. 

Meanwhile, ProCap Financial announced an additional 2.2% share repurchase, buying shares at about 22% below net asset value and funding the purchases through the sale of approximately 50 Bitcoin. The company has repurchased about 12.2% of shares outstanding since launching its buyback programme. 

In Europe, Huuuge announced plans to repurchase up to 16,438,356 shares, representing up to 36.74% of share capital, for a maximum $120 million. Shares traded at PLN 21.80, up 0.23%, after opening at PLN 22.20 and reaching a high of PLN 22.20. 

Nokia Shares Rise 6% to $10.39 on AI-RAN Trials, While CoreWeave Gains 4.65% to $84.68 on 15-Year AI Data Centre Lease 

Nokia shares rose 6% to $10.39 after its AI-RAN platform advanced to live field trials with eight global operators, strengthening expectations for wider adoption of software-driven 5G infrastructure. Nokia’s platform, developed with NVIDIA’s Aerial RAN Computer, has delivered more than 20% gains in spectral efficiency, allowing operators to increase network capacity without major hardware upgrades. Nokia’s European-listed shares were up 1.70% to €8.84, after opening at €8.74 and reaching €9.12. 

Meanwhile, CoreWeave shares gained 4.65% to $84.68, adding $3.76, after Blockfusion signed a 15-year anchor lease for AI computing capacity at its Niagara Falls, New York campus. CoreWeave opened at $83.75, reached $85.26 and touched $82.90. The agreement includes two five-year renewal options and supports the expansion of liquid-cooled, high-density AI infrastructure. 

The developments highlight continued investment in AI networking and data-centre capacity, supporting both companies’ exposure to growing AI infrastructure demand. 

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NOVONIX Expands US Battery Materials Push as Intel Explores Potential SK Hynix Manufacturing Deal 

NOVONIX has partnered with ACP Technologies to strengthen the North American supply chain for battery-grade anode materials. The non-binding MOU will focus on synthetic graphite anode active materials, mass-production processes and proprietary technology development. The companies also plan to produce materials for process validation, customer sampling and future commercialisation. 

ACP Technologies uses proprietary processes to convert petroleum-derived feedstocks into engineered carbon precursors and high-value pitch materials. NOVONIX expects the partnership to expand its product portfolio and support applications requiring improved fast-charging performance, including military drone technologies. 

Separately, Reuters reported that SK Hynix is exploring options to manufacture memory chips in the US using Intel facilities. Potential structures include leasing part of Intel’s Ohio plant or establishing a joint venture. SK Hynix said no specific plans have been finalised. Intel shares rose 5.08% to $102.07, while NOVONIX shares declined 1.31% to $3.01, after opening at $3.06 and trading between $2.92 and $3.06. 

FTAI Aviation Announces $500 Million Share Repurchase Programme 

FTAI Aviation’s board of directors authorised a share repurchase programme of up to $500 million of its outstanding ordinary shares. The programme will remain in effect until the earlier of completion or September 30, 2029. The repurchase programme will be funded using cash on the balance sheet. The buyback reflects management’s confidence in the business and a view that the stock price does not fully capture the company’s growth potential. Shares climbed roughly 3.7% following the announcement. 

PEDEVCO Expands Wyoming Mowry Shale Position; Truist Plans $5.5 Billion Auto Loan Exit 

PEDEVCO has acquired approximately 5,678 net acres in Wyoming’s Powder River Basin for about $5.9 million through a Bureau of Land Management lease sale. The acreage expands its Mowry position to roughly 12,000 net acres, with 10-year lease terms and a 12.5% royalty rate. The company said nearby horizontal Mowry wells have averaged around 1,400 Boe/d during their peak production month. 

Separately, Truist Financial plans to sell its $5.5 billion near-prime auto loan portfolio and exit its Regional Acceptance Corporation business. The transaction is expected to generate about $950 million in capital and modestly improve earnings, tangible book value and credit metrics, although it could reduce net interest margin by 4–5 basis points. Truist also reaffirmed its financial outlook and $5 billion share-repurchase plan.  

PEDEVCO shares declined 2.38% to $15.97, after opening at $16.58 and trading between $15.80 and $16.76. Truist shares fell 2.81% to $49.06, from an open of $50.45. 

Dow Targets $500 Million Working-Capital Release as Balance-Sheet Strengthening Takes Priority 

Dow expects to release more than $500 million of net working capital in the second half of 2026, providing additional cash as weak demand and softer chemical prices pressure earnings. The company expects third-quarter operating EBITDA of $1.5 billion–$1.6 billion, slightly below its earlier expectations, citing weaker polyethylene pricing in the Americas and continued softness in construction and automotive markets. 

Dow is prioritising deleveraging and has repurchased about $300 million of debt during the quarter. It also received the remaining $300 million from litigation involving NOVA Chemicals. Together with the working-capital release, these inflows could provide more than $800 million of incremental second-half cash. 

The company expects about $700 million of 2026 benefits from its Transform to Outperform programme, including savings from 4,500 planned job reductions. Dow shares gained 0.90% to $30.12, after opening at $29.40 and trading between $29.16 and $30.48. 

Jaguar Health Sets 1-for-15 Reverse Split as MySize Raises $2.5 Million in Private Placement 

Jaguar Health will implement a 1-for-15 reverse stock split on September 17, with split-adjusted trading set to begin when Nasdaq opens. The move follows shareholder approval in April and is intended to support compliance with Nasdaq listing standards. Shares held through brokerage accounts will automatically be adjusted, while fractional shares will be settled in cash. 

Meanwhile, MySize has agreed to raise approximately $2.5 million by selling 1,308,901 shares or pre-funded warrants at $1.91 each. The company will also issue Series C and D warrants, with proceeds earmarked for working capital and general corporate purposes. Jaguar Health shares were down 11.89% at $0.25, while MySize fell 9.91% to $2.09. 

May Mobility Targets $1.4 Billion Valuation in SPAC Deal as TORM Prices $290 Million Share Sale 

May Mobility has agreed to merge with ACP Holdings Acquisition Corp. in a SPAC transaction valuing the combined company at approximately $1.4 billion. The deal could provide up to $337 million in gross proceeds, including $217 million from ACP Holdings’ trust account and a $120 million private investment. The combined company is expected to begin trading on Nasdaq under the ticker MAY by year-end. 

Separately, TORM has priced a secondary offering of 9 million Class A shares by OCM Njord Holdings, indirectly owned by funds managed by Oaktree Capital Management, for gross proceeds of about $290.25 million. TORM itself is not selling shares and will receive no proceeds. The selling shareholder, which owns about 20% of Class A shares, has also granted a 30-day option for 1.35 million additional shares. The offering is expected to close on September 16. 

Also Read: What Are Fractional Shares

Flag Ship Signs $400 Million Bluechip Deal as Brookfield Bids $2.9 Billion for Reliance Worldwide 

Flag Ship Acquisition Corporation has signed a definitive business combination agreement with Bluechip & Co. Holdings, creating a route for the insurance-related and technology services company to become publicly traded. The transaction reflects a Company Net Value of $400 million, with Bluechip shareholders entitled to receive an aggregate 40 million Purchaser ordinary shares. Flag Ship’s existing ordinary shares will convert into Purchaser shares following the SPAC merger. The transaction remains subject to shareholder approvals, an effective Form F-4 registration statement, Nasdaq listing approval and other closing conditions. Flag Ship shares were unchanged at $11.30, after opening at $11.25. 

In Australia, Reliance Worldwide has agreed to support Brookfield’s almost $2.9 billion takeover proposal as the plumbing supplies company deals with tariffs and economic uncertainty. Brookfield has offered $3.38 per share in US dollars, equivalent to its previous A$4.75 proposal. Reliance’s board unanimously recommended the transaction, while AustralianSuper and Aware Super, which together hold about 20.2% of the company, could have a significant role in the shareholder approval process. Reliance said its Americas sales declined 4% in fiscal 2026, while adjusted operating earnings fell more than 11%. Its shares closed nearly 3.5% higher at A$4.48, after rising more than 7% earlier in the session. 

Air Products has secured a long-term agreement to supply high-purity industrial gases to a major semiconductor manufacturer expanding production in the US. The company will invest approximately $250 million in Arizona to build, own and operate infrastructure for hydrogen, helium and carbon dioxide supplies. The project will support semiconductor manufacturing and advanced packaging operations. Air Products said the latest award follows another semiconductor supply win, taking combined investment across the two projects to more than $900 million. Its shares declined 1.13% to $287.29. 

Filtronic secured an $8 million follow-on contract from a US customer to design, develop and manufacture prototype millimetre-wave units for satellite payloads. The latest award follows an earlier $8 million amplifier order, taking the combined value of disclosed contracts from the customer to $16 million. Revenue from the new contract is expected across fiscal 2027 and 2028. Filtronic shares climbed 8.37% to 233p. 

Meanwhile, Sazerac is considering a potential acquisition of German spirits producer Berentzen-Gruppe, according to Bloomberg, although discussions may not result in a transaction. Berentzen has a market capitalisation of about €33.7 million, and its shares rose 7.31% to €3.67. 

TORM Secondary Offering as Shares Rebound to $36.80 

TORM shares initially fell 6.3% in premarket trading after major shareholder OCM Njord Holdings launched a secondary public offering of 9 million Class A common shares. OCM Njord Holdings, which is indirectly controlled by funds managed by Oaktree Capital Management and ultimately by Brookfield Corporation, held approximately 20% of TORM’s Class A shares before the offering. 

TORM is not selling any shares and will receive no proceeds from the transaction, meaning the offering does not create new-share dilution for existing investors. J.P. Morgan Securities, the underwriter, has also received a 30-day option to purchase up to 1.35 million additional shares. If fully exercised, the offering could involve 10.35 million existing shares. 

The offering came as TORM shares traded near their 52-week high. TORM operates a fleet of product tankers transporting refined petroleum products, with its share price having risen significantly over the past year. 

The stock later reversed the early decline and was trading at $36.80, up 5.35%, as of 3:00:12 PM EDT on 17 September. TORM opened at $35.90 and traded between $35.72 and $37.22 during the session. The current 52-week high is $37.22, while the 52-week low stands at $19.30. 

US equities saw sharp stock-specific moves as investors assessed earnings surprises, cost pressures, acquisitions, defence contracts and capital-raising plans. Strong results and strategic deals supported gains in several companies, while profit warnings and asset sales weighed on others. The mixed reactions highlight how closely markets are responding to company-specific catalysts, funding needs, earnings visibility and changing business conditions rather than broader market trends alone. 

Source 

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