Wayfair Jumps 9.8% on Earnings Beat, Shoals Gains 8.97% on Merger, Oracle Raises $20B, Marathon Falls 9.66%

Mumbai, 4 November 2026: The stock market witnessed notable movements today as investors reacted to a series of corporate earnings reports, business announcements and strategic developments. Several companies reported quarterly results that exceeded analysts’ expectations, while others announced mergers, acquisitions, fundraising plans and operational changes.

These developments triggered significant share price movements across multiple sectors, highlighting the impact of financial performance, corporate decisions and forward-looking expectations on investor sentiment.

Wayfair Beats Q3 Estimates With $0.93 EPS; Shares Surge 9.80%

Wayfair Inc. (NYSE: W) reported third-quarter 2026 earnings and revenue above analysts’ expectations, with adjusted earnings per share (EPS) of $0.93, compared with the Zacks Consensus Estimate of $0.83. This represented a positive earnings surprise of 12.05%. Earnings also increased from $0.70 per share reported in the year-ago quarter. The company has surpassed consensus EPS estimates in three of the past four quarters.

The online home goods retailer posted revenue of $3.42 billion for the quarter ended September 2026, exceeding the Zacks Consensus Estimate of $3.37 billion by 1.59%. Revenue increased 9.7% from $3.12 billion reported in the corresponding period last year. Wayfair has beaten revenue estimates in each of the past four quarters.

Among key operating metrics, Wayfair delivered 11 million orders, exceeding analysts’ average estimate of 10.3 million. Active customers reached 22.2 million, compared with the estimated 21.48 million. However, average order value was $311, below the analyst estimate of $325.56. International revenue stood at $380 million, missing the $389.59 million estimate, while US revenue reached $3.04 billion, above the $2.97 billion estimate.

Wayfair shares were trading at $122.23, up $10.91 or 9.80%, as of 11:09:33 a.m. EST on November 4, 2026. The stock had a previous closing price of $111.32 and opened at $116.17. It recorded a high of $126.81 and a low of $116.17 during the session.

Ahead of the earnings release, Wayfair carried a Zacks Rank #1 (Strong Buy). Analysts currently expect quarterly EPS of $0.97 on revenue of $3.58 billion. For the current fiscal year, consensus estimates stand at $3.01 per share in earnings and $13.4 billion in revenue.

Palantir Shares Fall 0.54% Despite 96% Revenue Growth as Contract Value Slows

Palantir Technologies Inc. (NASDAQ: PLTR) reported strong third-quarter 2026 financial results, with revenue climbing 96% year over year to a record $2.3 billion. However, the stock faced selling pressure as investors focused on slowing growth in the company’s total contract value (TCV) and concerns about its high valuation.

The data analytics and artificial intelligence software company reported earnings per share (EPS) of $0.44, up 144% from the year-ago period and above analysts’ consensus estimate of $0.41. Revenue also exceeded the expected $2.2 billion. This marked the company’s 13th consecutive quarter of accelerating revenue growth.

Palantir’s US commercial revenue, which includes its Artificial Intelligence Platform (AIP), surged 148% to $984 million, surpassing US government revenue of $953 million, which increased 96%. The company’s gross profit margin improved to 83.4% from 82.4% a year earlier, while its net profit margin increased to 49% from 40.3%.

Management also raised its full-year 2026 revenue guidance to approximately $8.53 billion, representing projected growth of 91% and exceeding analysts’ consensus estimate of $8.22 billion.

Despite the strong results, investors expressed concerns about a slowdown in contract growth. Total contract value increased just 6% year over year, compared with 49% growth in the second quarter. Palantir’s valuation, at approximately 122.38 times earnings based on the supplied market data, also added to investor concerns.

Palantir shares were trading at $174.46, down $0.94 or 0.54%, as of 11:13 a.m. EST on November 4, 2026. The stock had opened at $164.95, compared with the previous close of $175.40. It recorded a high of $177.43 and a low of $164.60 during the session.

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Shoals Shares Jump 8.97% as Q3 Earnings Beat Estimates and ARRAY Merger Announced

Shoals Technologies Group Inc. (NASDAQ: SHLS) reported third-quarter 2026 adjusted earnings and revenue above Wall Street expectations, alongside announcing a stock-for-stock merger with ARRAY Technologies. The company posted adjusted earnings per share (EPS) of $0.14, exceeding the analyst consensus estimate of $0.12 by 16.67%.

Revenue reached a record $195.3 million, up 44% year over year and significantly above the analyst estimate of $162.22 million. The company reported a gross profit margin of 31.9%, an improvement of 160 basis points from the previous quarter. Adjusted EBITDA stood at $40 million, representing 20.4% of revenue, while operating cash flow totalled $28.9 million. Shoals also reported approximately $186 million in new orders during the quarter.

The company announced a stock-for-stock merger with ARRAY Technologies, under which Shoals shareholders will receive 1.6931 ARRAY shares for each Shoals share. Shoals shareholders are expected to own approximately 65% of the combined company, with ARRAY shareholders holding the remaining 35%. The companies expect the transaction to generate more than $100 million in annual run-rate synergies by the third year.

The combined company has issued preliminary 2027 revenue guidance of $2.2 billion to $2.4 billion and adjusted EBITDA guidance of $410 million to $480 million. The merger is expected to close in the first quarter of 2027, subject to approvals.

Shoals shares were trading at $9.23, as of 11:15 a.m. EST on November 4, 2026. The stock opened at $8.86 and recorded a high of $9.96 and a low of $8.86 during the session. The previous closing price was $8.47, representing a gain of $0.76 or approximately 8.97%.

Cencora Beats Q4 Estimates With $4.66 EPS; Shares Surge 2.51%

Cencora Inc. (NYSE: COR) reported fourth-quarter fiscal 2026 earnings and revenue above analysts’ expectations, with adjusted earnings per share (EPS) reaching $4.66, compared with the Zacks Consensus Estimate of $4.56. This represented a positive earnings surprise of 2.19%. Earnings also increased from $3.84 per share reported in the year-ago quarter.

The pharmaceutical distributor posted revenue of $88.35 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 0.22%. Revenue was higher than the $83.73 billion reported in the corresponding period last year. Over the past four quarters, Cencora has exceeded consensus earnings estimates three times, while beating revenue estimates once.

Cencora shares were trading at $349.03, up $8.53 or 2.51%, as of 11:07:20 a.m. EST on November 4, 2026. The stock had a previous closing price of $340.50 and opened at $342.20. It recorded a high of $349.45 and a low of $336.72 during the session.

Ahead of the earnings announcement, earnings estimate revisions for Cencora had been favourable, with the stock carrying a Zacks Rank #2 (Buy). For the upcoming quarter, analysts currently expect earnings of $4.52 per share on revenue of $90.61 billion. For the current fiscal year, consensus estimates stand at $19.78 per share in earnings and $353.9 billion in revenue.

Emerson Shares Rise as Q4 2026 Earnings Grow 24% and Dividend Increases 7%

Emerson (NYSE: EMR) reported stronger fourth-quarter and full-year fiscal 2026 results, supported by higher sales, profitability and cash flow. Fourth-quarter net sales increased 7% year over year to $5.201 billion, while underlying orders climbed 14%. Pretax earnings rose to $997 million from $760 million a year earlier, with the pretax margin expanding to 19.2% from 15.6%.

For the full fiscal year, net sales increased 5% to $18.982 billion, while pretax earnings reached $3.489 billion, up from $2.905 billion in fiscal 2025. Adjusted earnings per share rose 10% to $6.59, compared with $6.01 previously. Operating cash flow increased 8% to $3.978 billion, while free cash flow advanced 9% to $3.535 billion.

Emerson also announced a 7% increase in its quarterly cash dividend to $0.595 per common share, payable December 10, 2026, to shareholders of record on November 13. For fiscal 2027, the company expects approximately 5% net sales growth and adjusted EPS of around $7.25. It also anticipates returning approximately $3.8 billion to shareholders through dividends and share repurchases.

Regarding market performance, EMR shares were trading at $170.01 as of 11:46 a.m. EST on November 4, 2026. The stock opened at $166.28 and recorded a high of $171.00 and a low of $163.23 during the session.

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SolarEdge Shares Decline as Q4 Revenue Guidance Falls 18% Below Analyst Expectations

SolarEdge Technologies (NASDAQ: SEDG) reported third-quarter 2026 revenue of $326.1 million, down 4.1% year over year and broadly in line with analysts’ consensus estimate of $326.7 million. However, its outlook for the fourth quarter disappointed investors, with revenue guidance of $260 million at the midpoint coming in approximately 18% below the $317.2 million analyst consensus.

Adjusted earnings were a stronger point in the results. SolarEdge reported adjusted earnings of $0.29 per share, compared with analysts’ estimate of $0.04 and a loss of $0.31 per share in the year-ago quarter. Its operating margin improved to negative 0.6% from negative 10.3% a year earlier, while free cash flow margin declined to 2.4% from 6.7%.

Chief Executive Officer Shuki Nir said persistent market uncertainty and softer demand had prompted the company to reduce costs and sharpen its focus on profitability. He also highlighted product initiatives, including Nexis, growing energy-storage adoption and efforts to expand into AI data-center power infrastructure.

SolarEdge shares faced pressure following the results. One report put the immediate post-results decline at 8.6% to $30.05. Separately, the supplied market quote showed the stock at $31.19, down 5.14%, at 11:49 a.m. EST on November 4. The session range was $29.61 to $34.26, compared with an opening price of $32.80 and previous close of $32.88.

ARRAY Technologies Shares Jump 15.62% as $1.32 Billion Shoals Merger Announced

ARRAY Technologies Inc. (NASDAQ: ARRY) announced a definitive agreement to merge with Shoals Technologies Group Inc. (NASDAQ: SHLS) in an all-stock transaction valued at approximately $1.32 billion. The deal will combine ARRAY’s structural balance-of-system solar equipment with Shoals’ electrical infrastructure products, expanding the combined company’s offerings for utility-scale solar and battery energy storage projects.

Under the agreement, Shoals shareholders will receive 1.6931 ARRAY shares for each Shoals share held. Following the expected completion of the transaction, Shoals shareholders will own approximately 65% of the combined company, while ARRAY shareholders will hold the remaining 35%. ARRAY will serve as the legal acquirer and corporate parent.

The combined company expects preliminary 2027 revenue of $2.2 billion to $2.4 billion and adjusted EBITDA of $410 million to $480 million. The companies also expect the merger to generate more than $100 million in annual adjusted EBITDA synergies within three years, including approximately $35 million in the first year.

Shoals CEO Brandon Moss will lead the combined company, while ARRAY CEO Kevin Hostetler will serve as a special advisor. Brad Forth will become chairman of the board. The transaction has received approval from both companies’ boards and is expected to close in the first quarter of 2027, subject to shareholder and regulatory approvals.

ARRAY shares were trading at $5.36, up $0.72 or 15.62%, as of 11:18 a.m. EST on November 4, 2026. The stock opened at $5.13 and recorded a high of $5.96 and a low of $5.12 during the session. Its previous closing price was $4.64.

EVgo Shares Rise 1.37% as LS Power Proposes $2-Per-Share Acquisition

EVgo Inc. (NASDAQ: EVGO) has received an unsolicited, non-binding acquisition proposal from LS Power Equity Advisors, which has offered to purchase all outstanding publicly held Class A common shares for $2 per share in cash. The proposal represents a 59% premium over EVgo’s previous closing price and provides shareholders with a potential cash exit at a higher valuation. LS Power already holds approximately 56% of the company’s combined voting power.

Following the announcement, EVgo’s board established a special committee comprising independent and disinterested directors to review and evaluate the proposal. The committee is authorized to appoint independent legal and financial advisers to assist in its assessment. However, EVgo has not made any decision regarding its response, and there is no assurance that a definitive agreement will be signed or that the proposed transaction will be completed. Shareholders are not required to take any action at this stage.

The proposal comes as EVgo shares remain under pressure, having declined approximately 35% since the beginning of 2026, according to the reference report. The company operates more than 1,200 fast-charging locations across 47 US states and works with retailers, grocery stores, rideshare operators and autonomous vehicle companies.

Regarding the stock’s latest performance, EVGO was trading at $1.855 as of 11:20 a.m. EST on November 4, 2026, up $0.025, or 1.37%, from its previous close of $1.83. The shares opened at $1.86 and recorded a high of $1.92 and a low of $1.85 during the session.

Worksport Shares Gain 5% as Company Signs Term Sheet for First Acquisition

Worksport Ltd. (NASDAQ: WKSP) has signed a non-binding term sheet to acquire a manufacturer of a patented truck bed accessory, marking its first proposed acquisition and an expansion beyond its core tonneau cover business. The target company manufactures a product in the United States that is already commercially available and designed to complement Worksport’s existing truck bed covers.

The proposed acquisition would allow Worksport to expand its product portfolio while targeting the same customer base and distribution channels established for its existing offerings. The company has a customer database of more than 50,000 and reported that its distribution network contributed 50% of September 2026 net sales. According to the Specialty Equipment Market Association (SEMA), vehicle owners spent more than $15 billion modifying pickup trucks in 2025, including nearly $4 billion on utility accessories such as racks, toolboxes and covers.

The development follows Worksport’s preliminary third-quarter results, which showed net sales of approximately $7.24 million and operating cash use reduced to around 5% of net sales. However, the proposed transaction remains subject to due diligence, negotiations, definitive agreements and customary closing conditions. Although management expects the acquisition to close in the near term, completion is not guaranteed.

Regarding market performance, WKSP shares were trading at $0.315 as of 11:18:41 a.m. EST on November 4, 2026, up $0.015, or 5%, from the previous close of $0.30. The stock opened at $0.30 and recorded a high of $0.3291 and a low of $0.30 during the session

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Marathon Petroleum Shares Fall 9.66% After $4.2 Billion Refinery Sale to CVR Energy

Marathon Petroleum Corporation (NYSE: MPC) has agreed to sell its St. Paul Park and Mandan refineries, along with related assets, to CVR Energy for $4.2 billion. The proposed transaction also includes associated midstream and marketing operations supporting the two refinery sites in the Upper Midwest. The divestment represents a strategic shift in Marathon Petroleum’s refining footprint, reducing its presence in the northern United States while allowing it to sharpen its focus on Gulf Coast operations.

The sale covers assets that form part of the company’s integrated downstream energy business, including refining, midstream infrastructure and marketing activities. The transaction marks a significant portfolio repositioning as Marathon Petroleum adjusts its asset base and capital allocation across its operations. However, the announcement does not specify the expected completion date or further details about the transaction’s financial impact.

Regarding market performance, MPC shares came under pressure during the November 4, 2026, trading session. The stock was trading at $386.07 as of 11:29:06 a.m. EST, down $41.27, or 9.66%, from its previous closing price of $427.34. Shares opened at $417.90 and recorded a high of $420.00 and a low of $385.94 during the session. The reported share price decline reflects the stock’s trading performance following the announcement, without establishing a direct causal link to the refinery sale.

Parabolic Technologies Shares Plunge 88.77% After Pricing $13.5 Million Public Offering

Parabolic Technologies, Inc. (NASDAQ: PARA) has announced the pricing of an underwritten public offering expected to generate approximately $13.5 million in gross proceeds before underwriting fees and other expenses. The offering comprises 4,963,235 common units or pre-funded units, priced at $2.72 per common unit and $2.71999 per pre-funded unit. Each unit includes one share of Class A common stock or one pre-funded warrant, along with two common warrants.

The common warrants will carry an exercise price of $6.80 per share, while the pre-funded warrants will be immediately exercisable at an exercise price of $0.00001. The company has also granted Aegis Capital Corp., acting as the sole book-running manager, a 45-day option to purchase additional shares and warrants to cover potential over-allotments.

Parabolic Technologies expects the offering to close on or about November 5, 2026, subject to customary closing conditions. The company intends to use the net proceeds, alongside existing cash, for general corporate purposes, working capital and repayment of certain outstanding debt. The SEC declared the company’s registration statement effective on November 3, 2026.

Meanwhile, PARA shares faced significant selling pressure during the November 4 session. The stock was trading at $0.3051 as of 11:30:50 a.m. EST, down $2.4149, or 88.77%, from its previous close of $2.72. Shares opened at $0.31 and recorded a high of $0.38 and a low of $0.29 during the session.

BioVie Shares Fall 28.03% After Announcing $4.74 Million Stock Offering

BioVie Inc. (NASDAQ: BIVI) has entered into a securities purchase agreement with a healthcare-focused institutional investor for a registered direct offering of 2,962,500 common shares at $1.60 per share. The clinical-stage biopharmaceutical company expects to raise approximately $4.74 million in gross proceeds before deducting placement agent commissions and other offering-related expenses.

Alongside the registered offering, BioVie will conduct a concurrent private placement of unregistered warrants to purchase up to 2,962,500 additional common shares. The warrants carry an exercise price of $1.70 per share, become exercisable six months after issuance and expire five and a half years from the issuance date. A.G.P./Alliance Global Partners is serving as the sole placement agent.

The company intends to use the net proceeds for working capital and general corporate purposes. The transaction is expected to close on or about November 5, 2026, subject to customary closing conditions. The share offering is being conducted under an existing shelf registration statement declared effective by the Securities and Exchange Commission on June 29, 2026.

Regarding market performance, BIVI shares declined 28.03% during the November 4, 2026, session. The stock was trading at $1.24 as of 11:32 a.m. EST, down $0.48 from its previous close of $1.72. Shares opened at $1.64 and recorded a high of $1.65 and a low of $1.23 during the session.

Oracle Shares Slip 0.86% After Pricing $20 Billion Stock and Bond Offerings

Oracle Corporation (NYSE: ORCL) has finalized the pricing of its $20 billion capital-raising programme, comprising $10 billion in common stock and $10 billion in senior unsecured notes. Both offerings are scheduled to close on November 4, 2026. The equity offering involves 86,206,897 common shares priced at $116 each, representing a 2.7% discount to the stock’s closing price immediately before the announcement.

The debt offering comprises five fixed-rate senior note tranches: $2 billion at 7% due 2029, $1.75 billion at 7.45% due 2031, $2.25 billion at 7.85% due 2033, $2.5 billion at 8% due 2037 and $1.5 billion at 8.65% due 2046.

Oracle expects approximately $9.9 billion in net proceeds from the stock offering and $10 billion from the notes. The funds will support general corporate purposes, including investments in artificial intelligence data centres and cloud infrastructure. The equity component also allows the company to raise substantial capital without relying entirely on additional borrowing. The fundraising comes as Oracle manages significant existing debt while expanding its infrastructure capacity.

Regarding market performance, ORCL shares were trading at $125.11 as of 11:35:18 a.m. EST on November 4, 2026, down $1.08, or 0.86%, from the previous close of $126.19. The stock opened at $121.78 and recorded a high of $129.85 and a low of $121.90 during the session.

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Redwood Trust Shares Fall 1.61% as Company Plans REIT-to-C-Corporation Conversion

Redwood Trust, Inc. (NYSE: RWT) has announced plans to discontinue its real estate investment trust (REIT) status and convert into a taxable C-corporation, effective for the calendar year ending December 31, 2027. The company’s board approved the restructuring to enable it to use net operating loss (NOL) carryforwards from its REIT-qualified businesses to offset taxes on earnings generated by its taxable operations.

Redwood expects the conversion to increase GAAP book value per share by approximately $0.73 to $0.77 in the fourth quarter of 2026. The board also plans to reduce the quarterly common stock dividend to $0.02 per share, with the revised policy expected to take effect following the declaration of the fourth-quarter 2026 dividend in December.

Additionally, the company intends to launch a preferred-for-common stock exchange offer during the week of November 9, targeting an exchange of $50 million in common stock for newly issued 11% Series B Preferred Stock through a modified Dutch auction. Redwood also adopted a Tax Benefits Preservation Rights Plan to protect approximately $304 million in federal NOL carryforwards. Separately, its board approved a one-for-five reverse stock split, scheduled to take effect at market open on January 4, 2027.

Regarding market performance, RWT shares were trading at $3.06 as of 11:36:07 a.m. EST on November 4, 2026, down $0.05, or 1.61%, from the previous close of $3.11. Shares opened at $2.75 and recorded a high of $3.145 and a low of $2.69 during the session.

L3Harris Gains $36 Million US Army SATCOM Order as Shares Decline 6.79%

L3Harris Technologies (NYSE: LHX) has received a $36 million order from the U.S. Army for its Hawkeye 4 Lite satellite communications (SATCOM) terminal, supporting the military’s Command and Control Network Optimized for Warfighting (C2NOW) initiative. Announced on November 3, 2026, the order aims to strengthen secure and seamless satellite communications interoperability between U.S. and NATO partners.

Under the order, L3Harris will supply rapidly deployable Hawkeye 4 Lite terminals featuring field-swappable components. The configuration is designed to provide greater flexibility and adaptability in dynamic operational environments. The equipment will support the Army’s efforts to enhance resilient communications capabilities and advance its modernization priorities.

Faisal Munir, president of Mission Critical Communications within L3Harris’s Communications & Spectrum Dominance business segment, said the company was prepared to support the Army with expeditionary communications solutions aligned with its modernization requirements. The order adds to L3Harris’s defense communications business, although the announcement did not specify a delivery schedule.

Regarding market performance, LHX shares declined during the November 4, 2026, trading session. The stock was trading at $258.83 as of 11:41 a.m. EST, down $18.84, or 6.79%, from its previous close of $277.67. Shares opened at $270.00 and recorded a high of $271.52 and a low of $255.63 during the session.

Overall, the latest developments highlight a mixed trading session across the stock market, with shares moving in response to quarterly earnings, corporate announcements, mergers and acquisitions, fundraising activities and strategic business decisions. While several companies reported stronger financial results and positive business developments, others faced declines amid weaker guidance, dilution concerns and changing operational strategies. These developments underscore the varied factors influencing investor sentiment and stock performance across different sectors.