Vertiv Surges 13.46% on Earnings, Ultra Clean Revenue Hits Records, SK Hynix Profits Soar, OneSpaWorld Raises Dividend

Mumbai, 28 October 2026: U.S. stocks saw mixed movements on Wednesday, October 28, 2026, as investors reacted to quarterly earnings reports, raised financial forecasts, and major corporate announcements. Shares of Vertiv, Ultra Clean and GE HealthCare climbed on strong results, while SK Hynix reported record profits amid robust AI demand. Meanwhile, acquisition deals, shareholder returns and financing announcements drove company-specific movements, with some stocks declining despite improved earnings and positive business updates.

Vertiv Shares Rise 13.4% as Q3 Revenue Jumps 61%, Outlook Raised

Vertiv Holdings Co. (NYSE: VRT) shares rose 13.46% to $236.80 during Wednesday’s trading session on October 28, 2026, after the data centre infrastructure company reported stronger-than-expected third-quarter results and raised its full-year outlook. The stock opened at $243.00 and traded between $228.81 and $243.00 during the session. Its previous closing price was approximately $208.56, based on the reported latest price and percentage change.

Vertiv reported third-quarter revenue of $4.31 billion, up 61.2% year over year and above analysts’ consensus estimate of $3.76 billion. Adjusted earnings per share (EPS) increased 78% year over year to $2.21, exceeding the consensus estimate of $1.82. Organic net sales rose 55%, while organic orders grew by more than 100% year over year.

The company raised its 2026 revenue forecast to $14.45 billion-$14.85 billion, compared with its previous guidance of $13.8 billion-$14.2 billion. It also projected adjusted EPS of $7.10-$7.20 for the year, above the analyst consensus of approximately $6.73. For the fourth quarter, Vertiv expects revenue of $4.3 billion-$4.5 billion and adjusted EPS of $2.22-$2.28.

Adjusted operating margin expanded to 25.2%, an increase of 290 basis points year over year, according to the reported results. Adjusted free cash flow rose 50% to $652 million, while operating cash flow increased 64% to $794 million.

Chief Executive Officer Giordano Albertazzi said demand for data centre infrastructure was accelerating as investment in the sector continued to expand. Vertiv supplies power and cooling systems for data centres, supporting infrastructure requirements associated with artificial intelligence workloads.

Ultra Clean Shares Gain 7.05% as Record Q3 Revenue Rises 48.8% on AI Demand

Ultra Clean Holdings Inc. (NASDAQ: UCTT) shares rose 7.05% to $54.96 during trading on October 28, 2026, following record third-quarter results and an upbeat revenue outlook supported by semiconductor industry demand. The stock opened at $53.94 and reached a high of $56.68 and a low of $51.67 during the session. The company had closed at $51.48 on October 27, gaining 10.21% in the previous session.

Ultra Clean reported third-quarter revenue of $759 million, up 48.8% year over year and 17.7% sequentially, exceeding analysts’ estimate of $728.07 million. Non-GAAP earnings per share reached $1.15, surpassing the consensus estimate of $0.94. Non-GAAP gross margin increased to 17.3% from 15.7% in the previous quarter, while operating margin rose to 9% from 7%.

The company forecast fourth-quarter revenue of $800 million to $860 million, with a midpoint of $830 million, implying approximately 9% sequential growth. Non-GAAP earnings per share are expected to range from $1.11 to $1.35.

Management highlighted artificial intelligence infrastructure, advanced packaging and investment in foundry, logic and memory manufacturing as key demand drivers. Customers are projecting 2027 wafer fab equipment spending above $200 billion, according to the investor presentation.

Ultra Clean also plans to expand manufacturing capacity, targeting approximately $4 billion in annualised capacity in early 2027. Reaching more than $5 billion in capacity could require an additional $80 million to $100 million in investment through 2027 and 2028. Management outlined a path to a 20% gross margin at $4 billion in revenue, supported by improved facility utilisation, vertical integration and production efficiencies.

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GE HealthCare Shares Rise 7.9% as Q3 Earnings Beat Estimates, 2026 Guidance Rises

GE HealthCare Technologies Inc. (NASDAQ: GEHC) shares rose 7.86% to $76.70 during trading on October 28, 2026, following better-than-expected third-quarter results and an increase in its full-year financial outlook. The stock opened at $76.00 and traded between $74.64 and $77.88 during the session, compared with its previous close of $71.11.

The medical technology company reported adjusted earnings per share of $1.34, exceeding analysts’ consensus estimate of $1.20. Revenue increased 7.2% year over year to $5.5 billion, surpassing the $5.35 billion forecast, while organic revenue grew 6.2%. Adjusted earnings before interest and taxes rose 20% to $913 million, representing a margin of 16.6%.

GE HealthCare raised its 2026 adjusted earnings per share guidance to $4.95-$5.05, from its previous range of $4.80-$5.00. It now expects organic revenue growth of approximately 4% and adjusted EBIT margins of 15.5%-15.7%. The company also increased its free cash flow outlook to more than $1.6 billion.

Organic orders grew 4% during the quarter, while the book-to-bill ratio reached 1.03. Its order backlog stood at $23.7 billion. Chief Executive Officer Peter Arduini attributed the results to commercial execution, operational improvements and continued customer adoption of the company’s innovations.

GE Vernova Shares Rise as Q3 Revenue Jumps 27%, Guidance Raised and Trench Deal Announced

GE Vernova Inc. (NYSE: GEV) shares traded at $889.26 on October 28, 2026, after the company reported strong third-quarter results, raised its full-year guidance and announced a $9 billion agreement to acquire Trench Group. The stock opened at $876.38 and reached a high of $892.13 and a low of $836.24 during the session.

GE Vernova reported third-quarter revenue of $12.6 billion, up 27% year over year, with organic growth of 18%. Orders increased 96% organically to $29 billion, while its total backlog rose to $197 billion. Adjusted EBITDA reached $1.9 billion, with a margin of 15.4%, up 690 basis points organically. Free cash flow totalled $5.4 billion.

The company raised its 2026 revenue forecast to $46.5 billion-$47.5 billion, from $45.5 billion-$46.5 billion. Adjusted EBITDA margin guidance increased to 13.5%-14.5%, while free cash flow guidance rose to $16 billion-$17 billion.

Separately, GE Vernova signed an agreement to acquire Trench Group for $9 billion, equivalent to 13 times its projected 2028 adjusted EBITDA before synergies. The acquisition will expand its high-voltage grid equipment portfolio within the Electrification segment. Completion is expected in late 2027, subject to customary regulatory approvals. Trench has approximately $5 billion in backlog and framework agreements.

NiSource Shares Rise 1.5% as Q3 Earnings Beat Estimates, 2027 Outlook Signals Growth

NiSource Inc. (NYSE: NI) shares rose 1.47% to $44.24 during trading on October 28, 2026, following better-than-expected third-quarter earnings and revenue results. The stock opened at $43.62 and reached a high of $44.61 and a low of $43.39 during the session, compared with its previous close of $43.60.

The utility reported adjusted earnings per share of $0.27, exceeding analysts’ consensus estimate of $0.22 and rising 42.1% from $0.19 a year earlier. Revenue reached $1.38 billion, beating the $1.33 billion forecast. Adjusted earnings per share for the first nine months of 2026 totalled $1.49.

NiSource narrowed its 2026 adjusted earnings guidance to the upper half of its previous range of $2.02-$2.07 per share. It introduced 2027 guidance of $2.22-$2.30 per share, indicating double-digit growth at the midpoint. The company expects its GenCo business to contribute $0.05-$0.09 per share in 2027.

NiSource also highlighted a new 20-year electric service agreement with Microsoft as part of its data centre strategy. Its long-term capital plan totals approximately $40 billion through 2033, including investments in its core utility operations and GenCo. Management said the plan supports annual adjusted earnings growth of 10%-11% through 2033.

SK Hynix Shares Rise as Profit Jumps Sevenfold, $75 Billion Shareholder Return Announced

SK Hynix shares rallied as the South Korean memory chipmaker reported record third-quarter operating profit and announced plans to return approximately $75 billion to shareholders in 2026. Its US-listed ADR (NASDAQ: SKHY) traded at $163.32 on October 28, 2026, up from the previous close of $157.76. The stock opened at $157.76 and reached a high of $164.51 and a low of $156.50 during the session.

SK Hynix reported operating profit of 83.3 trillion won for the July-September quarter, up from 11.4 trillion won a year earlier and above the 76.7 trillion won analyst estimate. Revenue increased 328% year over year to 104.6 trillion won, supported by strong demand for memory chips used in artificial intelligence infrastructure.

The company said its shareholder returns would total approximately 100 trillion won, comprising cash dividends exceeding 30 trillion won and share repurchases and cancellations exceeding 60 trillion won. Most of the gain from its investment in Japanese chipmaker Kioxia will also be returned through a special dividend.

SK Hynix said its high-bandwidth memory (HBM) and DRAM chips were sold out through 2029, with HBM demand running at twice its supply capacity. It has signed long-term agreements with 14 major customers and plans to increase capital expenditure in 2027 to expand production capacity. Management expects AI investment momentum to continue as adoption of AI services broadens.

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GE Vernova Shares Fall 3% Despite $9 Billion Trench Deal and Higher Revenue Forecast

GE Vernova shares declined despite the company announcing a $9 billion acquisition of high-voltage grid equipment maker Trench Group and raising its 2026 revenue forecast for the third consecutive time. The stock traded at $884.44 on October 28, 2026, at 12:55 p.m. GMT-4, after opening at $876.38. It reached a high of $892.13 and a low of $836.24 during the session. Reuters separately reported the shares down more than 3% at $863.14.

The acquisition from investment firm Triton Partners is intended to expand GE Vernova’s grid manufacturing capabilities and strengthen its presence in Europe and Asia. Trench is expected to generate approximately $1.9 billion in revenue in 2028, with an adjusted EBITDA margin of around 36%. GE Vernova also anticipates $50 million to $100 million in annualized cost synergies by 2030. The transaction is expected to close in late 2027, with the purchase price split equally between cash and debt.

GE Vernova raised its 2026 revenue forecast to $46.5 billion-$47.5 billion, from $45.5 billion-$46.5 billion. Third-quarter revenue grew 27% year over year, while adjusted EBITDA reached $1.94 billion, exceeding analyst estimates. Orders surged 96% to $29.3 billion, and the backlog reached a record $197 billion. Power orders nearly tripled, while Electrification revenue rose 51%.

The company also doubled its share buyback authorization to $20 billion and lowered its estimate for 2026 global tariff costs to below $100 million.

LCI Industries Shares Gain 8.07% as Monomoy Offers $101 Per Share in Cash

LCI Industries shares rose after the recreational vehicle components supplier disclosed an unsolicited, non-binding $101-per-share cash acquisition proposal from Monomoy Capital Partners. The stock traded at $97.13 on October 28, 2026, at 1:04 p.m. GMT-4, up 8.07% according to the supplied market data. Shares opened at $95.50 and reached a session high of $97.28 and a low of $94.16.

The proposal introduces a competing offer while LCI continues to pursue its existing merger agreement with Patrick Industries. Announced on June 30, 2026, the all-stock transaction is intended to create a component solutions provider serving the outdoor recreation, housing and transportation markets.

LCI’s board said it continues to recommend the Patrick Industries merger but will carefully evaluate Monomoy’s proposal in consultation with independent financial and legal advisers. The company also advised shareholders to take no action regarding the new proposal at this stage.

Patrick Industries confirmed that LCI had notified it of the competing approach. Patrick said it would monitor developments while continuing to execute its business strategy, noting that LCI’s board had not changed its recommendation in support of their existing merger agreement.

LCI has appointed Perella Weinberg Partners as its financial adviser and Kirkland & Ellis as legal counsel. Monomoy’s proposal remains non-binding, and the supplied announcement does not indicate that LCI has accepted it or withdrawn its recommendation of the Patrick transaction.

D-Wave Shares Fall as LG CNS Partnership Targets Quantum Optimization Growth in South Korea

D-Wave Quantum Inc. announced a strategic relationship with South Korean technology company LG CNS to accelerate enterprise adoption of quantum computing for optimization, targeting applications across manufacturing, telecommunications, finance and retail. The companies signed a non-binding memorandum of understanding on October 28, 2026, at D-Wave’s Qubits Asia conference in Seoul.

D-Wave shares traded at $11.66 on October 28 at 1:07 p.m. GMT-4, below the opening price of $12.22. The stock reached a high of $12.28 and a low of $11.58 during the session. The supplied market data does not specify the previous closing price, so the percentage change from the previous close cannot be confirmed.

Under the proposed collaboration, D-Wave will contribute its annealing quantum computing technology, while LG CNS will provide mathematical optimization expertise, industry knowledge and systems integration capabilities. The companies intend to identify, develop and deploy practical quantum applications, moving beyond proof-of-concept projects toward production use. They also plan to explore joint commercial opportunities in South Korea and international markets.

LG CNS has researched the use of mathematical optimization and quantum computing for industrial challenges, including image reconstruction, inspection and underground anomaly detection. Both companies said the partnership aims to help businesses address complex operational problems, such as factory scheduling, delivery routing and resource allocation.

The agreement remains non-binding, and the announcement does not establish a financial commitment or a deployment timetable. The companies intend to combine their capabilities to help customers improve efficiency, manage costs and respond more quickly to changing operational conditions.

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Gaming and Leisure Properties Shares Slip as Prologis Joint Venture Targets 3.8 Million Square Feet

Gaming and Leisure Properties (NASDAQ: GLPI) announced a joint venture with Prologis to redevelop the former Hollywood Casino Joliet site in Illinois into a large warehouse and distribution park. GLPI shares traded at $38.74 on October 28, 2026, at 1:08 p.m. GMT-4, down approximately 0.18% for the session. The stock opened at $38.70 and reached a session high of $38.88 and a low of $38.25.

Under definitive agreements, GLPI will contribute the 262-acre property at 777 Hollywood Boulevard to the joint venture in three phases. Prologis will serve as managing member and developer, subject to review and approval by the City of Joliet. The planned logistics park is expected to comprise five Class A warehouse buildings totaling more than 3.8 million square feet.

Development is anticipated to take approximately five years, with Prologis holding options over the second and third phases. The site was vacated in September 2025 after Penn Entertainment opened its new Hollywood Joliet property.

The transaction marks GLPI’s first joint venture and its first investment outside the gaming sector, expanding its real estate activities into industrial and logistics development. GLPI Chairman and CEO Peter Carlino said the company expects to monetize the land while benefiting from Prologis’ development expertise.

Prologis shares traded at $125.26 at 1:09 p.m. GMT-4, compared with an opening price of $126.05. The stock reached a high of $126.37 and a low of $125.26 during the session. The project’s completion and development phases remain subject to the relevant approvals and agreements.

TotalEnergies Gains 0.92% as Chevron Offshore Deal Expands U.S. Exploration Portfolio

TotalEnergies acquired a 25% working interest in 26 exploration leases operated by Chevron offshore the United States, expanding its access to potential oil and gas resources in the Gulf of Mexico. TotalEnergies shares traded at $93.26 on October 28, 2026, at 1:11 p.m. GMT-4, up $0.85, or 0.92%. The stock opened at $92.60 and reached a session high of $93.42 and a low of $92.40.

Under the agreement, Chevron will receive a 75% operated interest in two TotalEnergies exploration leases located next to areas the companies already hold jointly. Of the 26 leases acquired by TotalEnergies, 24 are in the Green Canyon area and two are in Walker Ridge, approximately 150 to 250 kilometres offshore. The leases target established geological plays.

The transaction follows TotalEnergies’ entry into 40 Chevron-operated exploration blocks in June 2025. The French energy company also holds interests in the producing Ballymore, Anchor, Jack and Tahiti assets. Nicola Mavilla, TotalEnergies’ senior vice president for exploration, said the deal provides access to additional high-impact opportunities.

TotalEnergies has operated in the United States since 1957 and has invested nearly $12 billion in the country since 2022 across oil, liquefied natural gas (LNG) and electricity. It exported 19 million tonnes of LNG in 2025, making it the largest U.S. LNG exporter, and has 10 gigawatts of installed power capacity in the country.

Chevron shares traded at $230.82 at 1:13 p.m. GMT-4, after opening at $228.88. The stock reached a session high of $231.56 and a low of $228.34.

RegenLab USA Sets $18 Million IPO as Regenerative Medicine Device Maker Targets Nasdaq Listing

RegenLab USA has announced terms for an initial public offering (IPO) aimed at raising $18 million, as the regenerative medicine device provider prepares to list on the Nasdaq under the ticker symbol RGNA. The Jersey City, New Jersey-based company plans to offer 2.5 million shares at a proposed price range of $6 to $8 each. At the midpoint of that range, the company would have a fully diluted market valuation of approximately $157 million.

Founded in Switzerland in 2003, RegenLab develops and manufactures single-use medical devices that prepare autologous platelet-rich plasma (PRP), either alone or combined with hyaluronic acid (HA), for use at the point of care. Its products serve several clinical areas, including musculoskeletal treatment, wound care, aesthetics and women’s health.

The company’s main products include RegenKit, a PRP preparation kit, and Cellular Matrix, which combines PRP and HA for knee osteoarthritis applications. Most of its products are CE-marked in Europe, while several RegenKit configurations have received U.S. FDA clearance. Cellular Matrix has not yet been approved in the United States and remains in the premarket approval process.

RegenLab operates manufacturing facilities in Switzerland, France and New Jersey and distributes products in approximately 90 countries through direct sales teams and distributors. It reported $54 million in revenue for the 12 months ended June 30, 2026.

StoneX Financial is serving as the sole bookrunner for the offering. The proposed IPO price and final valuation remain subject to the completion of the offering process.

Rapport Therapeutics Shares Fall 17.07% as Company Prices $380 Million Capital Raise

Rapport Therapeutics (NASDAQ: RAPP) shares fell 17.07% on October 28, 2026, after the clinical-stage biotechnology company priced financing transactions totaling approximately $380 million to support its drug development programs. Shares traded at $22.84 at 1:31 p.m. GMT-4, down $4.70 from the previous close of $27.54. The stock opened at $22.55 and reached a session high of $23.94 and a low of $22.34.

The financing includes an underwritten public offering of approximately $175 million in common stock priced at $21 per share, about $25 million in pre-funded warrants, and $150 million in convertible senior notes due 2032 carrying 2.25% annual interest. Rapport also agreed to a separate $30 million private placement of common stock at the same $21 offering price.

The convertible notes have an initial conversion price of approximately $26.78 per share, representing a 27.5% premium to the common stock offering price. The company expects net proceeds of approximately $187.5 million from the public stock offering, $28.2 million from the private placement and $145 million from the notes.

Rapport plans to use the funds primarily for ongoing and planned clinical trials of its lead candidate, RAP-219, alongside research, development and working capital needs. The company expects its existing cash and investments, combined with the new proceeds, to fund operations through the end of 2029. The offerings are expected to close around October 30, 2026.

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TOP Ships Shares Fall 5.51% as Company Announces $5 Million Convertible Financing Deal

TOP Ships Inc. (NYSE American: TOPS) announced a $5 million private placement of senior convertible notes and warrants with a single institutional investor, as the tanker operator seeks additional capital. Shares traded at $0.29 on October 28, 2026, at 1:29 p.m. GMT-4, down 5.51% according to the supplied market data. The stock opened at $0.29 and reached a session high of $0.30 and a low of $0.27. The previous closing price was not provided.

Under the agreement, TOP Ships will issue notes with a principal amount of approximately $5.56 million at a 10% original issue discount, generating $5 million in gross proceeds at the first closing, expected on or around October 28. The unsecured notes carry annual interest of 8% if paid in cash or 10% if paid in shares and mature 12 months after issuance, with a possible extension to 18 months.

The company also expects to issue warrants exercisable for approximately 19.84 million common shares at an initial exercise price of $0.28 per share. The warrants will be immediately exercisable and expire five years after issuance. The agreement allows for a potential second tranche that could generate another $5 million in gross proceeds, subject to specified conditions.

TOP Ships has also agreed to issue commitment shares or equivalent pre-funded warrants. Maxim Group LLC is acting as the sole placement agent for the transaction.

OneSpaWorld Shares Jump 10.34% as Q3 Earnings Beat Estimates and Outlook Improves

OneSpaWorld Holdings Limited (NASDAQ: OSW) shares climbed 10.34% to $27.53 on October 28, 2026, after the cruise ship spa operator reported better-than-expected third-quarter results, raised its full-year guidance and announced enhanced shareholder returns. The stock had previously closed at $24.95 and opened at $26.63. During the session, shares ranged from $26.39 to $28.07, moving closer to the 52-week high of $29.25.

For the third quarter of fiscal 2026, revenue rose 7% year over year to $276.5 million, exceeding analysts’ expectations of $272.14 million. Adjusted earnings reached $0.34 per share, beating the $0.31 consensus estimate. Net income increased 16% to $28.2 million, while adjusted EBITDA grew 12% to $39.2 million. The company also reported a record service margin of 18.5%, supported by higher average guest spending, stronger demand for premium MediSpa services and increased pre-bookings.

Management raised its 2026 revenue outlook to $1.033 billion–$1.038 billion, from the previous range of $1.018 billion–$1.038 billion. Adjusted EBITDA guidance increased to $138 million–$140 million, compared with $130 million–$140 million previously.

The board also approved a share repurchase program of up to $100 million and raised the quarterly dividend by 25% to $0.0625 per share. During the quarter, OneSpaWorld repurchased approximately 1.41 million shares for $37.2 million.

The company’s 22nd consecutive quarter of record year-over-year revenue and adjusted EBITDA growth, alongside stronger guidance and capital returns, helped drive the positive market reaction. However, future performance will depend on demand, service mix and the company’s ability to deliver its revised targets.

First Commonwealth Shares Slip 1.05% Despite Higher Earnings, Dividend Growth and Buyback Authorization

First Commonwealth Financial Corporation (NYSE: FCF) shares traded at $20.73 on October 28, 2026, down approximately 1.05% for the day, despite the regional bank reporting higher third-quarter earnings and announcing additional shareholder returns. The stock opened at $21.00 and traded between $20.52 and $21.15 during the session, compared with the previous close of $21.02. Shares remained below their 52-week high of $22.34.

For the quarter ended September 30, 2026, First Commonwealth reported net income of $44.9 million, or $0.45 per diluted share, compared with $41.3 million and $0.39 per share a year earlier. Core net income rose to $45.4 million from $41.2 million, while core pre-tax, pre-provision net revenue increased to $65.5 million. Net interest income climbed $5.3 million year over year to $116.7 million, and net interest margin expanded to 4.11%.

The company declared a quarterly dividend of $0.14 per share, up 3.7% from the third quarter of 2025. The dividend is payable November 20 to shareholders of record on November 6. Its board also authorized an additional $25 million share repurchase program, following the repurchase of approximately 4.16 million shares during the quarter.

However, credit quality remains a concern. Provision expense increased to $14.2 million from $8.9 million in the previous quarter, while nonperforming loans rose to $95.2 million. Management said priorities include improving credit performance, pursuing profitable growth and controlling expenses. The mixed results and higher credit costs accompanied the stock’s decline. Overall, markets reacted to earnings, revised forecasts and corporate announcements. Strong results lifted shares of Vertiv, Ultra Clean, GE HealthCare and OneSpaWorld, while SK Hynix reported record profits. Other companies announced acquisitions, partnerships and financing plans. First Commonwealth shares declined despite higher earnings and a dividend increase, as rising credit provisions and nonperforming loans raised concerns.