Jabil Inc (NYSE:JBL) shares gained about 5% on Tuesday afternoon after UBS upgraded the stock to 'Buy' and raised its estimates, citing a multiyear growth cycle driven by artificial intelligence investment, healthcare demand and expanding automation and robotics markets.
UBS set a $430 price target, implying roughly 22% upside from the stock's current level. The firm lowered the valuation multiple underpinning its target to about 22 times earnings from 25 times, reflecting what it described as a broad-based de-rating across the AI infrastructure system.
Curaleaf Hldgs Inc. (OTCQX:CURLF) has launched a hostile bid to acquire Aurora Cannabis Inc (TSX:ACB, NASDAQ:ACB), offering Aurora shareholders a combination of Curaleaf shares and cash that values the proposal at US$4 per Aurora share, as it seeks to combine the companies’ international cannabis operations.
Under the proposed transaction, Aurora shareholders would receive 0.3463 Curaleaf shares plus US$0.75 in cash for each Aurora share. Curaleaf said the offer represents a 45% premium to Aurora’s 30-day volume-weighted average price of US$2.75, or a 110% premium when excluding Aurora’s cash and cash equivalents.
AppLovin Corp (NASDAQ:APP) shares fell 5% to $321 after Bank of America downgraded the stock to Neutral, citing greater uncertainty around the company’s ability to sustain its long-term 30% revenue growth trajectory.
Bank of America said AppLovin’s second quarter results raised questions about a previously assumed source of baseline sequential growth. The firm said engineer-directed improvements to the company’s gaming models appeared to be the primary driver of quarterly growth, while it was less clear whether the 3% to 5% sequential growth from self-learning remained applicable.
eToro Group Ltd (Unlisted (US):ETRO) reported second quarter 2026 results that topped Wall Street expectations, but shares fell about 13% on the news of the company’s planned acquisition of US-focused online brokerage TradeZero for up to $231 million.
The trading and investing platform reported adjusted diluted earnings per share of $0.68, compared with consensus estimates ranging from $0.61 to $0.65. Net contribution rose 9% year over year to $229 million, edging above expectations of roughly $225 million.
On Holding (NYSE:ONON) shares fell 19% after the company reported second-quarter net sales below expectations and issued full-year growth guidance at the lower end of forecasts, overshadowing strong direct-to-consumer growth and an expansion in gross profit margin.
The Swiss sportswear company reported second-quarter net sales of CHF 850.3 million, up 13.5% from a year earlier, but below expectations of about CHF 878 million. On a constant-currency basis, sales increased 21.6%.
Riot Platforms Inc (NASDAQ:RIOT) shares rose about 4% on Tuesday after the bitcoin mining company announced a 20-year data center lease with a leading frontier AI lab in a deal valued at approximately $9.1 billion over its initial term. The tenant was not identified by Riot, but the deal has been widely reported to be with Anthropic.
The agreement covers 191 megawatts of critical IT capacity at Riot’s Rockdale campus and is expected to generate approximately $9.1 billion in total contract revenue through June 2048. The lease includes two five-year extension options that could bring the total potential contract value to approximately $16.1 billion if both are fully exercised.