US Stocks Diverge as Axon Drops 8.82%, Radiant Jumps 20.71%, Beta Bionics Surges 16.38%

Mumbai, Sept 16: US equity markets saw sharp differences in individual stock performance as companies announced financing, earnings, merger, regulatory, contract, product, and corporate governance developments. Some shares declined following financing announcements, while others gained after stronger-than-expected results.  

Merger and regulatory updates also influenced trading activity. The session featured developments across the energy, defence, technology, healthcare, and other sectors, including a long-term LNG agreement, a defence contract, a customer data breach, an expanded buyback authorisation, and healthcare-related regulatory updates. 

Axon Enterprise Falls 8.82% After $1 Billion Notes Plan 

Axon Enterprise (NASDAQ: AXON) came under heavy pressure after announcing a proposed $1.0 billion offering of 0% convertible senior notes due 2031. The notes carry no fixed interest coupon, while the conversion premium is expected to be between 47.5% and 52.5% over the reference price.  

The company may also grant underwriters an option to purchase up to an additional $150 million of notes to cover over-allotments. The notes will mature on September 15, 2031, unless converted, redeemed or repurchased earlier, and will be senior, unsecured obligations of Axon. 

The notes will not bear regular interest, and their principal amount will not accrete. Investors will have the right to convert the notes in certain circumstances, with Axon able to settle conversions in cash, shares of common stock or a combination of both. However, the initial conversion rate and other terms will be determined when the offering is priced. 

Axon intends to use part of the proceeds to fund the cost of capped call transactions, with the remaining proceeds earmarked for general corporate purposes, including supporting growth and potential acquisitions or investments in product lines, products, services, technologies or other businesses. 

The capped calls are designed to generally reduce potential dilution to Axon’s common stock upon conversion and may offset certain cash payments above the principal amount, although the protection is subject to a cap. The offering is being led by Goldman Sachs, Morgan Stanley, J.P. Morgan, RBC Capital Markets and Citigroup. 

The trigger for the sharp stock move was Axon Enterprise’s announcement of a $1 billion convertible notes offering, which raised concerns about potential future equity dilution. The shares had closed at $490.18 in the previous session and opened at $467.68 on Tuesday. The stock touched an intraday high of $471.41 before falling to a low of $434.46. At around 2:04 p.m. ET, Axon shares were trading at $446.92, down 8.82%, reflecting a sharp reversal as investors assessed the implications of the financing. 

Radiant Logistics Shares Jump 21% as Profit Surge Fuels $10.20 High 

Radiant Logistics Inc. (NYSE American: RLGT) shares climbed sharply after the company reported stronger fourth-quarter results, with revenue, profitability and adjusted EBITDA all increasing year on year. 

For the quarter ended June 30, 2026, revenue rose 18.5% to $261.4 million, from $220.6 million a year earlier. Gross profit increased 11.2% to $64.4 million, while adjusted gross profit rose 10.6% to $66.8 million. Net income attributable to Radiant increased 53.1% to $7.5 million, or $0.16 per basic share and $0.15 per diluted share. 

Adjusted EBITDA climbed 31.6% to $10.4 million, while the adjusted EBITDA margin expanded by 240 basis points to 15.5%. For the full fiscal year, revenue reached $934.4 million, compared with $902.7 million, while net income rose to $18.8 million from $17.3 million. Adjusted EBITDA was $36.7 million, compared with $38.8 million. 

The company also highlighted its amended $200 million credit facility, extended to 2031, with acquisition capacity increased to $100 million. As of June 30, Radiant had $25.6 million in cash against $25 million of borrowings, leaving no net debt. 

Radiant Logistics shares were trading at $9.91, up 20.71% as of 2:10 p.m. ET on September 15. The stock opened at $9.45, reached an intraday high of $10.20 and fell to a low of $9.16, compared with the previous close of approximately $8.21. 

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LuxExperience Shares Fall 4.70% Ahead of Earnings Turnaround Test 

LuxExperience BV is set to report fourth-quarter and full-year fiscal 2026 results. Analysts expect an adjusted loss of €0.07 per share on revenue of €643.9 million, compared with a €0.168 loss and €618.5 million revenue in the previous quarter. 

The company, which operates Mytheresa, NET-A-PORTER, MR PORTER and YOOX, recorded its first positive group-level adjusted EBITDA in the second quarter and followed with another profitable quarter in the third quarter. Revenue is expected to rise 9.5% year-on-year. 

Investors will focus on whether profitability can be sustained. LuxExperience reported a 0.9% adjusted EBITDA margin in the third quarter. Mytheresa delivered 9.9% constant-currency net sales growth, including a 33.8% increase in US sales, while NET-A-PORTER and YOOX sales declined 5.1% and 7.4%, respectively. Analyst EPS estimates have fallen nearly 14% over the past 60 days, while revenue estimates have declined 2.4%. 

LuxExperience shares were trading at $7.10, down 4.70%, at 3:14 pm ET. The stock opened at $7.50, reached an intraday high of $7.66 and fell to a low of $7.09. Based on the reported percentage move, the previous close was approximately $7.45. Its 52-week high was $11.38, while the 52-week low stood at $6.54. 

Sysco Shares Fall 4.62% as $1 Billion Share Sale Draws Heavy Demand 

Sysco Corporation shares declined sharply after the food distributor priced a $1 billion common stock offering, despite the sale reportedly attracting demand several times the number of shares available. 

Sysco sold 12,345,679 shares at $81 per share, with the top 10 investors purchasing more than 50% of the offering and the top 25 investors taking approximately 80%, according to people familiar with the matter cited by Bloomberg. 

The offering is expected to close on September 16, 2026, subject to customary conditions. Underwriters also received a 30-day option to purchase up to an additional $150 million of shares at the same price to cover overallotments. 

Sysco plans to use the net proceeds to help finance part of the payment for its pending acquisition of Jetro Restaurant Depot, while noting that the share sale is not dependent on completion of the transaction. 

Sysco shares were trading at $79.71, down 4.62%, as of 2:14 p.m. ET on September 15. The stock opened at $82.12, reached an intraday high of $82.12 and fell to a low of $79.35, compared with the previous close of approximately $83.57. 

Atkore Shares Rise 0.58% as $3.8 Billion Prysmian Deal Clears HSR 

Atkore Inc. shares edged higher after the waiting period under the Hart-Scott-Rodino (HSR) Act expired, removing a key regulatory hurdle for Prysmian S.p.A.’s proposed $3.8 billion acquisition of the electrical products maker. 

Atkore and Prysmian entered into the merger agreement on August 2, 2026, under which a wholly owned Prysmian subsidiary will merge with Atkore, leaving Atkore as a wholly owned subsidiary of Prysmian. The deal values Atkore at $95 per share in cash, representing a 30% premium to its July 31 closing price. 

The HSR notifications were filed on August 14, with the waiting period expiring at 11:59 p.m. ET on Sunday. However, the transaction still requires approval from a majority of Atkore shareholders and other regulatory clearances. 

Atkore shares were trading at $94.62, up 0.58%, as of 2:28 p.m. ET on September 15. The stock opened at $94.32, reached a high of $94.62 and touched a low of $94.32. The shares remained close to the $95 acquisition price, while the stock’s 52-week high stood at $94.62. 

Sempra Shares Fall 1.69% Despite 20-Year Petrobras LNG Deal 

Sempra shares declined after its infrastructure unit signed a 20-year LNG supply agreement with Petrobras, covering approximately 0.8 million tonnes per annum of liquefied natural gas. 

Under the agreement, the LNG will be sourced from Sempra Infrastructure’s contracted liquefaction capacity at the Port Arthur LNG Phase 2 project in Texas. Petrobras becomes the first South American company in Sempra Infrastructure’s LNG customer portfolio. 

Port Arthur LNG Phase 2 received a positive final investment decision in September 2025 and will comprise two additional liquefaction trains capable of producing approximately 13 million tonnes per annum. This will raise the facility’s total capacity to around 26 million tonnes per annum across both phases. Phase 1 is expected to begin commercial operations around the end of 2027 and in 2028, while Phase 2 is expected to commence operations in 2030 and 2031. 

Sempra shares were trading at $81.59, down 1.69%, as of 2:29 p.m. ET on September 15. The stock opened at $83.32, reached an intraday high of $83.32 and fell to a low of $81.48, compared with the previous close of approximately $82.99. The stock remained above its 52-week low of $79.59. 

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V2X Shares Rise 3.22% After $46 Million Air Force Contract Win 

V2X Inc. shares gained after the defence contractor secured a position on a $46 million delivery order supporting the U.S. Air Force’s Long Range Standoff (LRSO) cruise missile programme. 

The order falls under the Enterprise-Wide Agile Acquisition Contract and covers carriage equipment production to support integration of the LRSO weapon system on the B-52 Stratofortress aircraft. The LRSO programme is intended to replace the Air-Launched Cruise Missile currently in service. 

The award strengthens V2X’s involvement in a key U.S. defence modernisation programme focused on the B-52 and strategic deterrence. The company provides engineering, manufacturing, sustainment and mission-support services across defence, national security, civilian and international markets, employing around 16,000 professionals globally. 

V2X shares were trading at $75.31, up 3.22%, as of 2:34 p.m. ET on September 15. The stock opened at $73.21, reached an intraday high of $75.41 and touched a low of $72.09, compared with the previous close of approximately $72.96. Despite the gain, the stock remained below its 52-week high of $93.98. 

CenterPoint Energy Shares Fall 1.47% After Customer Data Breach 

CenterPoint Energy shares declined after the Texas-based utility disclosed in an SEC filing that an unauthorised third party obtained personal information relating to some of its customers. 

CenterPoint said it became aware in September of an online post claiming access to a customer dataset. The company activated its cybersecurity incident response protocols, brought in external cybersecurity experts and took additional measures to protect its systems. 

Its investigation found that the information was obtained through one of the company’s external-facing systems. However, CenterPoint said its electric and gas services remain operational and have not been affected. 

The utility does not currently believe the incident is reasonably likely to have a material impact on its financial condition or operating results. It expects to incur expenses related to the breach and response, although its cybersecurity insurance is expected to offset related costs. 

CenterPoint Energy shares were trading at $38.08, down 1.47%, as of 2:38 p.m. ET on September 15. The stock opened at $38.57, reached a high of $38.70 and fell to a low of $37.84, compared with the previous close of approximately $38.65. The shares remained above their 52-week low of $37.22 

Oracle Announces 1.7GW Clean Power AI Push; Shares Drop 2.20% 

Oracle shares declined despite the company announcing investments in wind energy projects expected to deliver more than 1.7 gigawatts of carbon-free electricity in Texas, supporting its expanding artificial intelligence infrastructure. 

The projects will supply electricity to the Electric Reliability Council of Texas (ERCOT) grid, which powers Oracle’s Abilene facility. Together, the wind projects are expected to generate enough electricity annually to power the equivalent of more than 525,000 U.S. homes. 

Oracle said the investments will help strengthen grid resilience and affordability while supporting Texas’ growing AI economy and reducing electricity-related emissions. The company is also progressing towards its goal of matching 100% of electricity used by its AI data centres with carbon-free electricity by 2035. 

The initiative comes as Oracle expands data-centre capacity to meet rising demand for AI computing, while seeking to address the growing energy requirements associated with these facilities. 

Oracle shares were trading at $141.54, down 2.20%, as of 2:41 p.m. ET on September 15. The stock opened at $143.46, reached an intraday high of $144.88 and fell to a low of $140.41, compared with the previous close of approximately $144.73. The shares remained well below their 52-week high of $329.50. 

SB Energy to Sell $500 Million Shares to Japan Investors Ahead of US IPO 

SB Energy, backed by SoftBank Group, plans to sell up to $500 million of new shares to Japanese investors as part of its planned U.S. public listing, according to a regulatory filing. 

The data-centre developer will issue new shares to Japanese investors, with proceeds earmarked for general operating expenses related to developing data centres, power generation and associated infrastructure projects. The filing did not disclose the size of the planned U.S. IPO. 

SoftBank could seek a valuation of around $50 billion for SB Energy, Reuters has previously reported, highlighting investor interest in companies positioned to benefit from rising artificial intelligence infrastructure demand. 

Nvidia has committed to invest $1.5 billion through a private placement at the IPO price, while OpenAI has been issued warrants valued at roughly $5.5 billion, according to SB Energy’s investment prospectus released earlier this month. 

The planned offering comes amid strong investor appetite for AI-related companies and infrastructure businesses. SB Energy’s expansion is closely tied to growing demand for data centres and the power generation needed to support AI computing. 

Japanese investors have also shown strong interest in major U.S. technology listings, with investors securing $2.2 billion of SpaceX shares during its June IPO. 

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Ducommun Bags Follow-on PAC-3 Missile Award Order Valued at $35M  

 Ducommun Incorporated announced that it received a follow-on award worth more than $35 million to provide electronic assemblies supporting Lockheed Martin’s PAC-3 family of missiles. 

The agreement was awarded to Simmonds Precision Products and builds on Ducommun’s existing PAC-3 missile business. The assemblies will be produced at the company’s engineering and manufacturing facility in Tulsa, Oklahoma, expanding its involvement in a key missile platform. 

Ducommun said the award supports the continued growth of its defence business and aligns with its VISION 2027 strategy. The company supplies engineered products, aftermarket solutions and value-added manufacturing services to aerospace and defence customers. 

Simmonds Precision Products designs and manufactures fuel and proximity sensing and structural health monitoring solutions for aerospace and defence applications, with products used across major platforms. 

Ducommun shares were trading at $163.62, down 0.59%, as of 2:42 p.m. ET on September 15. The stock opened at $166.97, reached an intraday high of $169.84 and fell to a low of $156.31, compared with the previous close of approximately $164.59. The shares remained below their 52-week high of $210.39. 

Waystar Shares Jump 8.03% as Potential Sale Sparks Investor Interest 

Waystar Holding Corp. shares surged after reports that the healthcare software company is exploring strategic alternatives, including a potential sale, raising the possibility that it could return to private ownership just two years after its 2024 IPO. 

Reuters reported that Waystar has hired Evercore to explore strategic options. The company’s largest shareholders include EQT with a 13% stake, Canada Pension Plan Investment Board with 10% and BlackRock with 8%, according to LSEG data. 

The potential transaction comes as Waystar continues to report strong operating performance, including high-single-digit to low-double-digit organic revenue growth and an EBITDA margin of around 40%. Analysts said a sale could attract financial and strategic interest, particularly as concerns about AI-driven disruption have weighed on software stocks. 

Waystar shares were trading at $26.90, up 8.03%, as of 2:48 p.m. ET on September 15. The stock opened at $27.03, reached an intraday high of $27.28 and touched a low of $25.57, compared with the previous close of approximately $24.90. The shares remained below their 52-week high of $39.99. 

Neuberger and KKR Acquire Minority Stake in Datavant as Healthcare Data Expands 

Investment funds managed by Neuberger Capital Solutions, Neuberger Private Markets and KKR have agreed to acquire a significant minority stake in Datavant, a healthcare data collaboration platform. The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions. 

New Mountain Capital, which has backed Datavant since 2014, will retain control following the transaction. Datavant operates a healthcare data ecosystem connecting 80,000 providers, 75 of the top 100 health systems and 350 ecosystem partners. Its data network reaches 90% of the US population and 80% of Medicare Advantage participants. 

The company provides data exchange services covering clinical care, value-based payments, health analytics and medical research. Neuberger Capital Solutions manages about $12 billion in assets, while Neuberger Private Markets manages more than $165 billion in investor commitments. KKR is investing primarily through its Strategic Investments Group. 

KKR shares were trading at $100.53, down 1.74%, at 3:02 pm ET on 15 September. The stock opened at $101.76, reached an intraday high of $102.79 and fell to a low of $100.26. Its previous close was approximately $102.31, while the 52-week high and low stood at $152.10 and $82.67, respectively. 

RTX Shares Rise 0.23% as Hermeus Gains F100 Fighter Engine Licence 

Pratt & Whitney, an RTX business, and Hermeus have signed a Production License Agreement allowing Hermeus to manufacture F100-PW-229 fighter engines. The agreement makes Hermeus a qualified production source for the F100 engine, which powers the US Air Force’s F-15 and F-16 fighter aircraft. 

The F100 is one of the US military’s most widely deployed fighter propulsion systems, with more than 32 million flight hours. Hermeus will use its rapid-build production model while following Pratt & Whitney’s quality and safety standards. The engine also powers Hermeus’ Quarterhorse aircraft, which achieved supersonic flight earlier this year. 

The agreement is expected to expand US production capacity amid growing demand. Hermeus CEO Zach Shore said the deal gives the company in-house propulsion capability to support the scaling of Quarterhorse production. The F100 has powered US Air Force fighters for more than five decades. RTX reported more than $88 billion in 2025 sales and employs over 180,000 people globally. 

RTX shares were trading at $195.79, up 0.23%, at 3:03 pm ET. The stock opened at $196.73, reached an intraday high of $197.20 and fell to a low of $193.05. Based on the reported percentage move, the previous close was approximately $195.34. RTX’s 52-week high was $226.88, while its 52-week low stood at $155.64. 

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Beta Bionics Shares Jump 16.38% After FDA Clears Mint Insulin Pump 

Beta Bionics has received US Food and Drug Administration clearance for Mint, its smartphone-controlled, tubeless insulin patch pump with reusable and disposable components. The company plans to begin its full US commercial launch in the first quarter of 2027, earlier than previously expected. 

Mint can be controlled through iOS and Android smartphones, does not require recharging and can be worn for three days followed by a 12-hour grace period. It features a 200-unit insulin reservoir, is waterproof to five feet for 60 minutes and supports over-the-air software updates. Beta Bionics expects capacity to produce at least 1.5 million disposable units in 2027. 

The company also submitted its next-generation 3D Intelligence automated insulin-dosing algorithm to the FDA through a separate 510(k) application. Clearance is still pending. Meanwhile, Beta Bionics lowered its 2026 revenue forecast to $121 million-$126 million, from $131 million-$136 million, citing potential delays in iLet purchases ahead of Mint’s launch. 

Beta Bionics shares were trading at $19.47, up 16.38%, at 3:09 pm ET. The stock opened at $16.73, reached an intraday high of $19.54 and fell to a low of $16.37. Based on the reported percentage move, the previous close was approximately $16.74. Its 52-week high was $32.71, while the 52-week low stood at $8.80. 

Leidos Shares Fall 2.33% Despite $0.43 Dividend and 20M Buyback 

Leidos Holdings has declared a quarterly cash dividend of $0.43 per share, payable on 30 September 2026 to shareholders on record as of the close of business on 15 September. The defence and technology company also authorised a new share repurchase programme covering up to 20 million shares. 

The new buyback replaces the previous 20-million-share authorisation approved in February 2022, which has been fully utilised. Leidos said the timing and number of shares repurchased will depend on investment requirements, capital needs, share price, market conditions and regulatory considerations. Repurchases may take place through open-market or privately negotiated transactions. 

Headquartered in Reston, Virginia, Leidos employs about 50,000 people globally. The company reported approximately $17.2 billion in revenue for the fiscal year ended 2 January 2026. 

Leidos shares were trading at $129.38, down 2.33%, at 3:10 pm ET. The stock opened at $130.49, reached an intraday high of $133.93 and fell to a low of $127.58. Based on the reported percentage move, the previous close was approximately $132.46. Its 52-week high was $205.77, while the 52-week low stood at $98.86. 

Overall, US equities reflected a mixed response to company-specific developments, with financing announcements weighing on Axon and Sysco, while strong earnings lifted Radiant Logistics and regulatory, contract and product milestones supported selected shares. Merger activity also remained in focus, particularly for Atkore and Waystar. Meanwhile, energy, defence, healthcare and technology companies responded differently to strategic announcements, highlighting how corporate actions, financial performance, regulatory developments and growth expectations continued to drive individual stock move 

Source 

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• spglobal.com/spdji/en/indices/equity/sp-500/ 

• https://www.dowjones.com/ 

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• https://www.spglobal.com/spdji/en/indices/equity/sp-500/ 

• https://www.nasdaq.com/market-activity/index/comp 

• https://www.nasdaq.com/market-activity/quotes/nasdaq-ndx-index 

• https://www.spglobal.com/spdji/en/indices/equity/sp-100/ 

• https://www.lseg.com/en/ftse-russell/indices/russell-us 

• https://www.nyse.com/index 

• https://www.nyse.com/index 

• https://www.spglobal.com/spdji/en/indices/equity/dow-jones-transportation-average/ 

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• https://www.spglobal.com/spdji/en/indices/equity/dow-jones-composite-average/ 

• https://www.nasdaq.com/market-activity/index/sox 
• https://www.cboe.com/tradable_products/vix/