$187.9 Billion Walmart Revenue, 45% Alibaba Cloud Growth and $34.5 Billion Charter Merger Mark Key Corporate Moves

Mumbai, Aug 21: US-listed stocks witnessed a flurry of company-specific developments today, with over twenty major corporations reporting quarterly earnings, announcing multi-billion-dollar mergers, or unveiling significant capital-raising initiatives. From Walmart’s $187.9 billion revenue haul and Alibaba’s 45% cloud growth to Charter Communications’ $34.5 billion merger closure and a wave of convertible note offerings, the trading session was defined by individual corporate narratives rather than broader market sentiment. 

Walmart Surges on 28.8% Operating Income Growth as E-Commerce Sales Jump 23% 

Walmart Inc. (Nasdaq: WMT) reported second-quarter results that exceeded expectations, with revenue climbing 5.9% year-over-year to $187.9 billion, or 5.1% on a constant-currency basis. The retail giant’s operating income soared 28.8% to $2.1 billion, or 17.4% on an adjusted constant-currency basis, benefiting from tariff refunds received during the quarter.  

Global e-commerce sales surged 23%, driven by store-fulfilled pickup and delivery along with marketplace growth, while the global advertising business expanded 38%, with Walmart U.S. advertising matching that growth rate. Membership fee revenue climbed 17% globally, and gross profit rate improved by 96 basis points, primarily impacted by tariff refund impacts.  

The company reported GAAP EPS of $0.80 and adjusted EPS of $0.81, which excluded a net loss of $0.12 on equity investments and a net benefit of $0.11 from a tax matter. Walmart issued guidance for the third quarter and reiterated its outlook for the full fiscal year 2027. Shares of Walmart traded at $103.60, down 9.36% on the day, with an intraday high of $107.00 and a low of $102.85, as investors weighed the tariff refund benefits against ongoing price investments. 

Alibaba Cloud Revenue Accelerates 45% as AI-Related Products Deliver Triple-Digit Growth for 12th Consecutive Quarter 

Alibaba Group Holding Limited (NYSE: BABA) reported June quarter revenue of RMB268,953 million ($39,639 million), an increase of 9% year-over-year. However, income from operations plummeted 57% to RMB15,161 million ($2,234 million) , primarily due to a decrease in adjusted EBITA, impairment of goodwill, and a provision related to a European Commission fine.  

Adjusted EBITA decreased 30% to RMB27,329 million ($4,028 million), reflecting increased investment in technology. Net income attributable to ordinary shareholders fell 76% to RMB10,537 million ($1,553 million), while non-GAAP net income declined 38% to RMB20,715 million ($3,053 million). The company reported diluted earnings per ADS of RMB3.71 ($0.55), down from RMB17.98 in the year-ago quarter. In a strategic realignment, Alibaba integrated its e-commerce platforms into Alibaba E-commerce Group, combined Cloud Intelligence Group with T-Head to form AI Cloud and Compute Services, and consolidated AI model labs into AI Labs and Applications. Alibaba Cloud’s external revenue growth accelerated to 45%, with AI-related product revenue delivering triple-digit growth for the twelfth consecutive quarter, reaching RMB12,376 million ($1,824 million).  

Capital expenditures surged 75% to RMB67,678 million ($9,975 million), reflecting continued investments in AI infrastructure. Despite the strong cloud performance, shares of Alibaba traded at $130.11, up 0.91%, with an intraday high of $130.16 and a low of $121.88, as investors digested the significant decline in profitability. 

Advance Auto Parts Expands Operating Margin by Over 250 Basis Points as Adjusted EPS Rises to $1.03 

Advance Auto Parts (NYSE: AAP) reported second-quarter net sales of $2.0 billion, with comparable store sales down 0.5%. Gross profit margin improved to 46.2% from 43.5%, while adjusted gross profit margin rose to 46.2% from 43.8%, including $26 million in tariff refunds.  

Operating income surged to $101 million, or 5.1%, from $22 million, or 1.1%, while adjusted operating income increased to $112 million, or 5.6%, from $61 million, or 3.0%. Adjusted EPS rose to $1.03 from $0.69.  

Despite stronger profitability, shares fell 26.11% to $41.54, hitting an intraday high of $47.37 and low of $40.66, as weaker comparable sales weighed on the stock. The company reaffirmed FY2026 guidance.  

Atour Revenue Jumps 41.4% to RMB3,490 Million as Hotel Network Expands to 2,175 Properties 

Atour Lifestyle Holdings (NASDAQ: ATAT) reported second-quarter net revenue of RMB3,490 million ($514 million), up 41.4% year-over-year. Net income rose 29% to RMB548 million ($81 million), while adjusted net income increased 30.8% to RMB558 million ($82 million). EBITDA grew 33.3% to RMB810 million ($119 million), and adjusted EBITDA rose 34.6% to RMB821 million ($121 million).  

The hotel network expanded 19.2% to 2,175 hotels, with 242,526 rooms, up 18.4%, while 811 manachised hotels were under development. ADR was RMB438, occupancy 76.2%, and RevPAR RMB345. Retail revenue surged 63.2% to RMB1,575 million ($232 million). Despite strong growth, shares fell 7.95% to $34.06, after trading between $36.57 and $33.63, as investors weighed the results and outlook. 

Futu Holdings Revenue Climbs 35.6% to HK$7,200 Million as Trading Volume Hits Record HK$6.42 Trillion 

Futu Holdings (NASDAQ: FUTU) reported second-quarter revenue of HK$7,200.2 million ($918.2 million), up 35.6% year-over-year. Gross profit rose 33.9% to HK$6,214.8 million ($792.5 million), while net income increased 41.6% to HK$3,641.9 million ($464.4 million). Non-GAAP adjusted net income climbed 40.1% to HK$3,725.1 million ($475.0 million). Funded accounts rose 33.6% to 3,842,667, while client assets increased 43.6% to HK$1.40 trillion.  

Trading volume hit a record HK$6.42 trillion, up 78.8%, including HK$5.02 trillion in US stocks and HK$1.17 trillion in Hong Kong stocks. Margin balances rose 85.1% to HK$95.1 billion. Shares fell 2.43% to $112.08, after reaching $117.81 and $107.27. 

Dingdong Reports Tenth Consecutive Quarter of Profitability as GMV Rises 11.8% to RMB7,265 Million 

Dingdong (NYSE: DDL) reported second-quarter GMV of RMB7,265.3 million ($1,070.8 million), up 11.8% year-over-year, marking its tenth consecutive quarter of positive growth. Revenue rose 8.6% to RMB6,487.3 million ($956.1 million). Net income reached RMB271.7 million ($40.0 million), marking the tenth consecutive profitable quarter, while non-GAAP net income was RMB281.3 million ($41.5 million), extending non-GAAP profitability to 15 quarters.  

Operating income surged 209.6% to RMB252.8 million ($37.3 million). Gross margin expanded to 29.6% from 28.8%, while fulfilment expenses fell 7% to RMB1,207 million ($177.9 million). Shares rose 2.62% to $2.35, ranging between $2.38 and $2.20. 

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LSI Industries Reports Record Full-Year Sales of $689.4 Million as Royston Acquisition Boosts Q4 Revenue 51% 

LSI Industries (Nasdaq: LYTS) reported fourth-quarter sales of $234.6 million, up 51% year-over-year, including the Royston acquisition, while organic growth was 8%. Net income was $6.9 million, or $0.18 per diluted share, including $3.0 million in acquisition costs. Adjusted net income reached $14.4 million, or $0.38 per share, while adjusted EBITDA rose 50% to $25.7 million.  

FY2026 sales increased 20% to a record $689.4 million, with adjusted net income of $42.2 million and adjusted EBITDA of $69.7 million, a 10.1% margin. Display Solutions posted 18% organic growth and a 12.4% EBITDA margin. Free cash flow was $9.7 million in Q4 and $39.0 million for FY2026. Shares fell 14.24% to $20.64, trading between $23.00 and $20.03. 

ATRenew Revenue Jumps 32.4% as Adjusted Operating Income Surges 70.1% to RMB206.3 Million 

ATRenew (NYSE: RERE) reported second-quarter revenue of RMB6,609.3 million ($974.1 million), up 32.4% year-over-year. Operating income increased 95.7% to RMB178.3 million ($26.3 million), while adjusted operating income rose 70.1% to RMB206.3 million ($30.4 million). Net income climbed 78.6% to RMB129.1 million ($19.0 million), with adjusted net income up 57.3% to RMB157.1 million ($23.1 million).  

Consumer products transacted increased to 11.6 million from 10.3 million, while product revenue rose 35.9% to RMB6,194.7 million ($913.0 million). Service revenue fell 4.2% to RMB414.6 million ($61.1 million). Merchandise costs rose 31.9% to RMB5,219.2 million ($769.2 million). Shares fell 11.76% to $4.05, between $4.29 and $4.02. 

AIR Global Revenue Rises 3.7% to $206.9 Million as Adjusted EBITDA Holds at $71.7 Million 

AIR Global (NASDAQ: AIIR) reported first-half revenue of $206.9 million, up 3.7% year-over-year, despite disruptions following the Strait of Hormuz closure. FSM revenue increased 3.4% to $204.7 million, supported by 14% price-mix growth. Adjusted EBITDA remained stable at $71.7 million, while the company posted a $81.8 million net loss, including $48.2 million in listing expenses, $47.7 million in IPO-related cash costs and $12.4 million in non-cash share-based compensation.  

FSM shipments declined 9%, while Global Travel Retail volumes fell 46.5%. Americas revenue rose 3.4%, with adjusted EBITDA up 17.2%, while MEAA revenue grew 4%, with EBITDA down 4%. Shares fell 6.45% to $7.25, ranging from $7.98 to $6.90. 

Aegon Raises Share Buybacks by EUR150 Million as Operating Results Climb 9% to EUR804 Million 

Aegon (NYSE: AEG) reported first-half operating results of EUR804 million, up 9% year-over-year, driven by strong commercial momentum across its US businesses. Operating capital generation increased 27% to EUR416 million, while free cash flow reached EUR392 million. The insurer raised planned second-half share repurchases by EUR150 million to EUR350 million and declared an interim dividend of EUR0.21 per share, up 11%.  

Transamerica’s operating result rose 14% to $756 million in local currency, supported by higher distribution commissions, increased fees on assets under administration and stronger stable-value margins. Individual life sales surged 54%, aided by digital underwriting. The group solvency ratio stood at 169%, while the US risk-based capital ratio was 420%, above its 400% target. Shares fell 2.42% to $9.06, after trading between $9.13 and $8.97. 

NetEase Cloud Music Revenue Rises 3.4% to RMB4.0 Billion as Gross Margin Expands 

NetEase Cloud Music Inc. (HKEX: 9899) reported first-half revenue of RMB4.0 billion, up 3.4% year-over-year, while online music services revenue rose 3.4% to RMB3.1 billion. Membership subscription revenue increased to RMB2.6 billion from RMB2.5 billion, and social entertainment services revenue grew 3.7% to RMB891.3 million. Gross profit climbed 5.9% to RMB1.5 billion, with gross margin improving to 37.2% from 36.4%. Operating profit fell to RMB746.2 million from RMB844.5 million, while adjusted operating profit declined to RMB796.7 million. Net profit was RMB809.2 million, versus RMB1,882.1 million. Shares traded at $120.44, down 5.36%, with a high of $122.87 and low of $119.48. 

ScanSource Sales Rise 17.3% to $953.1 Million as MicroAge Acquisition Expands Technology Portfolio 

ScanSource, Inc. (NASDAQ: SCSC) reported fourth-quarter net sales of $953.1 million, up 17.3% year-over-year, while gross profit increased 14% to $119.8 million. Operating income rose 18.5% to $31.7 million, and GAAP net income reached $25.6 million, or $1.24 per diluted share, versus $20.1 million and $0.88 previously.  

Non-GAAP net income increased to $30.3 million, or $1.46 per share, while adjusted EBITDA rose 19.4% to $46.1 million. Fiscal 2026 sales increased 6.1% to $3.23 billion. ScanSource agreed to acquire MicroAge for $220.5 million. Shares traded at $58.60, down 13.95%, with a high of $66.78 and low of $58.18. 

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Huize Gross Written Premiums Surge 29.8% to RMB4.2 Billion as Net Profit Jumps 

Huize Holding Limited (NASDAQ: HUIZ) reported first-half gross written premiums of RMB4,196.4 million ($618.5 million), up 29.8% year-over-year, while first-year premiums surged 48.7% to RMB2,763.0 million. Total operating revenue increased 5.8% to RMB719.8 million ($106.1 million).  

Operating costs rose 5.1% to RMB523.7 million, while net profit attributable to common shareholders jumped to RMB25.3 million ($3.7 million) from RMB2.3 million. Non-GAAP net profit was RMB3.1 million, compared with a RMB3.3 million loss. Selling expenses rose 10% to RMB109.8 million, while G&A expenses fell 31.4% to RMB33.0 million. Shares traded at $1.98, down 35.62%, with a high of $3.19 and low of $1.64. 

Autohome Revenue Falls 31.8% to RMB1.20 Billion as Share Repurchases Expand 

Autohome Inc. (NYSE: ATHM) reported second-quarter net revenue of RMB1,198.0 million ($176.6 million), down 31.8% year-over-year from RMB1,758.1 million. Net income attributable to Autohome declined to RMB247.8 million ($36.5 million) from RMB415.7 million, while adjusted net income fell to RMB277.3 million from RMB475.7 million.  

Media services revenue was RMB280.4 million, while leads generation revenue declined 23.5% to RMB560.4 million. Online marketplace and other revenue dropped to RMB357.3 million from RMB746.1 million. Autohome completed its $200 million repurchase programme and authorised a new $400 million programme. Shares traded at $22.29, down 0.54%, with a high of $22.60 and low of $20.98. 

Yunji Revenue Falls to RMB96.3 Million as Operating Loss Narrows 30.9% 

Yunji Inc. (NASDAQ: YJ) reported first-half revenue of RMB96.3 million ($14.2 million), compared with RMB158.3 million a year earlier, reflecting weaker consumer spending and a greater focus on private-label products. Merchandise sales declined to RMB82.5 million, while marketplace revenue fell to RMB13.7 million.  

Cost of revenues decreased 31.9% to RMB56.8 million, representing 59.0% of revenue. Operating expenses declined 38.8% to RMB109.7 million, including fulfillment expenses of RMB10.3 million and G&A expenses of RMB47.5 million. Operating loss narrowed to RMB69.4 million, while net loss fell to RMB72.4 million. Liquidity stood at RMB242.1 million. Shares traded at $3.96, down 6.82%, with a high of $4.48 and low of $3.70. 

Evaxion Net Loss Narrows to $3.7 Million as Cash Runway Extends into 2027 

Evaxion A/S (NASDAQ: EVAX) reported a second-quarter net loss of $3.7 million, narrowing from $4.8 million in the year-ago period. Research and development expenses were $2.3 million, while G&A expenses declined to $1.5 million from $2.2 million. Net financial expense fell to $0.1 million from $0.7 million.  

Cash and cash equivalents stood at $14.0 million at June 30, 2026, compared with $18.4 million at March 31, supporting a cash runway into the second half of 2027. The company highlighted clinical data for EVX-01 and EVX-04 and expanded its pipeline with EVX-05. Total equity was $9.5 million. Shares traded at $3.24, up 2.89%, with a high of $3.64 and low of $2.95. 

Charter Completes $34.5 Billion Cox Merger as Santander Adds $327 Billion in Assets and Motorola Closes $1.5 Billion D-Fend Deal 

Charter Communications (NASDAQ: CHTR) completed its $34.5 billion merger with Cox, creating a cable company serving 37 million customers across 45 states. The transaction included $4 billion in cash, while the combined company will operate as Cox Communications under CEO Chris Winfrey. Charter shares traded at $148.90, down 2.34%, with a high of $153.97 and low of $144.82.  

Santander Holdings USA also completed its acquisition of Webster Financial, creating a banking group with $327 billion in assets and 8 million customers. Banco Santander issued 329,846,438 new shares at €10.7896, raising €3.56 billion. Santander shares traded at €12.226, down 0.60%, while Webster Financial shares stood at $77.57.  

Meanwhile, Motorola Solutions completed its $1.5 billion acquisition of D-Fend Solutions, strengthening its counter-drone technology portfolio. D-Fend systems are deployed in more than 30 countries across airports, critical infrastructure, stadiums, military facilities and borders. Shares of Motorola Solutions traded at $477.99, down 0.60%, with an intraday high of $486.25 and low of $475.23. 

$105 Million DISA Uranium Financing and Leggett & Platt-Somnigroup Merger Approval Mark Major Corporate Moves 

Leggett & Platt shareholders approved the company’s merger with Somnigroup International, under which Leggett & Platt will become a wholly owned subsidiary of Somnigroup, subject to remaining regulatory and closing conditions. Shares traded at $9.42, down 2.63%, with an intraday high of $9.60 and low of $9.36. Separately, IsoEnergy completed a transaction with DISA Technologies to establish DISA Uranium Corporation, contributing its Utah uranium assets in exchange for 1,677,350 shares. DISA Uranium secured $105 million in private financing, with IsoEnergy investing $33 million and retaining approximately 33% ownership. IsoEnergy shares traded at $10.11, down 4.03%, with a high of $10.59 and low of $10.07. 

$175 Million Backblaze Notes, $45 Million QNB Offering and $25 Million Edesa Deal Highlight Capital Raising Activity 

Backblaze priced an upsized $175 million offering of 0.00% convertible senior notes due 2031, increased from the previously announced $150 million. The company also granted an option for an additional $26.25 million of notes. Backblaze expects net proceeds of $167.2 million, or $192.7 million if the option is fully exercised. The initial conversion rate is 45.5705 shares per $1,000 of notes, representing a 30% premium over the $16.88 closing price. Shares traded at $16.88, down 4.20%. 

Separately, First Breach began trading on Nasdaq under ticker FBDT, marking its expansion as a US defence technology manufacturer focused on ammunition production and unmanned aerial systems. Shares fell 68.61% to $0.40 on their debut. 

QNB Corp also began trading on Nasdaq following a $45 million offering, selling approximately 1.1 million shares at $42 per share. The Pennsylvania-based bank operates 14 branches and plans to use proceeds for general corporate purposes, including debt repayment, new lending and capital support. Shares traded at $43.50. 

Edesa Biotech priced an underwritten public offering expected to generate $25 million in gross proceeds, comprising 3,870,500 common shares and accompanying warrants, plus pre-funded warrants for up to 675,000 shares. The combined price was $5.50 per share and warrant, while warrants carry a $7.50 exercise price. Shares traded at $4.70, down 18.26%. 

Meanwhile, Odysight.ai priced an $11 million offering of 3,437,500 shares at $3.20 each, with a 30-day option for 515,625 additional shares. Proceeds will support research, development, sales, marketing and working capital. Shares traded at $3.20, down 4.68%. 

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ESS Tech Raises $3.2 Million Through $0.50 Registered Direct Offering; MMA.INC Completes $4 Million Placement at 160% Premium 

ESS Tech Inc. (NYSE: GWH) entered into agreements for a registered direct offering of 6.4 million shares at $0.50 per share, alongside warrants to purchase up to 12.8 million shares at an exercise price of $0.50. The warrants become exercisable following shareholder approval and expire five years after issuance. ESS Tech expects approximately $3.2 million in gross proceeds, with funds earmarked for working capital and general corporate purposes. The transaction is expected to close on August 21, 2026. Shares of ESS Tech traded at $0.396, down 42.28%, marking a sharp negative market response. 

Separately, Mixed Martial Arts Group Limited (NYSE American: MMA) completed a $4.0 million private placement of 4 million ordinary shares at $1.00 per share, representing a 160% premium to its $0.38 August 19 closing price. The financing includes no warrants, options or convertible securities, while the restricted shares remain subject to Rule 144 requirements. Proceeds will support working capital, growth initiatives and financial flexibility. Shares of MMA.INC traded at $0.43, up 50.80%, indicating a sharply positive market response. 

American Financial Group Raises Dividend 10.2%, Hilton Grand Vacations Approves $600 Million Buyback and Alternus Implements 1-for-2,500 Reverse Split 

American Financial Group, Inc. (NYSE: AFG) increased its regular annual dividend 10.2% to $3.88 from $3.52 per share, with quarterly payments rising to $0.97 from October 2026. The increase marks the company’s 21st consecutive year of dividend growth, while its 10-year compound annual growth rate in regular annual dividends paid stands at 12.1%. Shares traded at $146.51, up 1.05%. 

Separately, Hilton Grand Vacations Inc. (NYSE: HGV) approved a new $600 million, two-year share repurchase programme, which will begin after completion of its existing $600 million programme approved in July 2025. As of August 17, approximately $61 million remained under the current authorisation. Since 2018, Hilton Grand Vacations has repurchased more than 60 million shares and returned over $2.5 billion to shareholders. Shares traded at $44.77, down 1.21%. 

Meanwhile, Alternus Clean Energy, Inc. (OTC: ALCE) implemented a 1-for-2,500 reverse stock split effective August 20, 2026, reducing shares outstanding from approximately 724,658 to 290. The company said the move aims to raise its per-share price to meet minimum bid requirements for a national exchange listing and support a committed $10 million PIPE investment. The post-split stock began trading under “ALCED”, before transitioning to “ADIS”, with new CUSIP 02157G 408. 

Zayo Secures Corning Fiber Supply Through 2030, Roche Invests $750 Million in Manufacturing Expansion 

Zayo expanded its supply agreement with Corning Incorporated (NYSE: GLW) to secure fiber optic cable for network expansion through 2030. The agreement covers a significant portion of the fiber needed for Zayo’s planned addition of 15,000 route miles, including more than 8,000 miles of new long-haul fiber being developed with NVIDIA. Zayo operates 32 million fiber miles and 224,000 route miles across North America, connecting more than 400 markets globally. Shares of Corning traded at $151.06, down 0.92%. 

Separately, Genentech plans to invest approximately $750 million in a new device fill-finish manufacturing facility at its 75-acre Hillsboro, Oregon campus. The project is expected to create 250 manufacturing jobs and approximately 200 construction jobs, with operations targeted for 2031. The facility will manufacture advanced delivery devices, including pre-filled syringes and autoinjectors. 

Company-specific catalysts drove stock movements, with tariff benefits, AI growth, margin expansion, mergers, acquisitions and capital raising shaping performance. Dividend increases and buybacks reflected corporate confidence, while guidance and segment-specific challenges continued to influence investor reactions. 

Source 

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