Most material SEC filings — November 4, 2026

CVS Health announced a planned separation into two publicly traded entities effective H1 2028: (1) a healthcare solutions company retaining Aetna, CVS Caremark, CVS Specialty, Oak Street Health, and Signify Health, led by current CEO David Joyner; and (2) CVS Pharmacy, comprising ~9,000 retail pharmacies, mail pharmacy, MinuteClinic, and Health100, led by current Group President Prem Shah. The separation is intended to be tax-free to shareholders. Both companies are expected to maintain investment-grade ratings and strong free cash flow with attractive dividends. Goldman Sachs and Consello serve as financial advisors.

Addentax Group Corp. will issue 464,907 common shares (par value $0.001) to Mr. Chan Kai Sang in exchange for his 100% ownership of Double Cash Finance Limited (19,010,000 HKD1.00 par shares). Double Cash Finance becomes a wholly-owned subsidiary of Yingxi, Addentax's Hong Kong subsidiary. Closing occurs ≥15 days after Nasdaq notification filing, contingent on standard conditions.

Hut 8 closed a four-year, $1.07 billion senior secured revolving credit facility and repurchased $250.0 million of shares (3.34M shares at ~$74.85/share avg) funded by Bitcoin sales ($250M authorized, increased to $1.0B post-quarter). The company signed a second 352 MW AI lease at Beacon Point (Phase 2) bringing total contract value to ~$26.6B; increased Energy Capacity Under Exclusivity by 1,300 MW to 3,180 MW; and entered definitive agreements to acquire two Texas sites with up to 230 MW for ~$180M. Development pipeline now totals 7,859 MW.

Option Care Health reported Q3 2026 net revenue of $1,493.5M (up 4.1% YoY), GAAP net income of $57.4M (up 10.8%), and adjusted EBITDA of $124.6M (up 4.3%). The company has entered a definitive merger agreement to be acquired by Clayton, Dubilier & Rice and McKesson Corporation. Due to the pending acquisition, management withdrew prior guidance and will not host an earnings call.

Odyssey Therapeutics (clinical-stage biotech, $483.9M assets) reported Q3 2026 cash position of $387M (80% of total assets), sufficient to fund operations into H2 2028. OD-001 Phase 2a induction results presented in October showed clinical efficacy supported by biomarker and transcriptomic findings in ulcerative colitis (56 efficacy-evaluable patients). IND-enabling studies completed for OD-002, a first-in-class oral SLC15A4 inhibitor; Phase 1/2a trial initiation expected H1 2027. Q3 net loss was $53.1M versus $35.5M in Q3 2025; R&D expenses increased to $42.1M from $26.3M year-over-year. Leadership appointments: Anthony Opipari, M.D., Ph.D. as chief medical officer and Laura Hare as chief people officer.

Smith Douglas reported Q3 2026 home closing revenue of $262.5M (up 0.2% YoY) on 831 closings (up 5%), but gross margin deteriorated to 16.3% from 21.0%, causing pretax income to fall 81% to $3.3M and diluted EPS to drop 71% to $0.07. Debt-to-book capitalization rose sharply to 18.8% from 9.0% at year-end 2025, driven by notes payable increasing from $44.1M to $101.4M (+130%), while cash fell from $12.7M to $5.9M. Backlog expanded 25% to 947 homes, but active communities grew only 15% to 113.

Martin Marietta completed its combination with Lhoist North America (LNA) on August 21, 2026, for total consideration of $12.9 billion ($7.0B cash, ~$5.9B stock). The company raised full-year 2026 revenue guidance to $7.80B midpoint and Adjusted EBITDA to $2.48B midpoint, with LNA contributing $216M revenues and $115M cash gross profit in the partial quarter. Q3 2026 showed record revenues of $2.37B (+28% YoY) and Adjusted EBITDA of $808M (+21%), though reported net earnings fell 29% to $256M due to higher interest expense ($138M vs. $59M) from acquisition financing ($5.5B notes issuance, $1.5B term loan).

Brinks reported Q3 2026 revenue of $1,375M (+3% YoY, +4% organic) with adjusted EBITDA of $274M (+8% YoY). The company announced the NCR Atleos acquisition is now expected to close in early January 2027 (versus prior timeline) after significant regulatory progress including CMA clearance in UK. Management identified additional cost synergy opportunities beyond the original $200M target and accelerated realization timeline to achieve $200M run-rate by YE 2029.

Q32 Bio completed a $200M public offering in July 2026, bringing cash to $289.6M as of September 30, 2026. The company presented SIGNAL-AA Part B results showing 35.3% mean SALT score reduction at Week 36 in 33 patients and robust durability through 16-week off-drug follow-up, with 40% achieving SALT-20 response. Management appointed Jos Trevejo, M.D., Ph.D. as CMO and Ellie Hershberger, Pharm.D. as CDO in September 2026; the company plans to initiate a registration-directed Phase 3 program in severe/very severe alopecia areata in H1 2027 pending Q4 2026 regulatory discussions.

RYTHM reported Q3 2026 revenue of $23.9M (up 4% QoQ), net loss of $0.5M, operating income of $1.0M, and adjusted EBITDA of $5.9M. Cash position strengthened to $48.2M with $6.3M operating cash flow. THC beverage depletions grew 15% QoQ to 320,000-case annualized run rate across 8,000 retail doors in 18 states. Critical regulatory risk: federal hemp-derived THC prohibition effective December 11, 2026 (Illinois November 12) would prohibit current product sales; company withdrew Q4 2026 guidance. Green Thumb Industries (licensing partner, annual fee $70.25M) gained consolidated accounting control effective October 10, 2026 after stockholder approval removed 49.99% ownership cap.

Nuvectis completed in-licensing of ciprocopan (NXP100, Complement Factor B inhibitor) and NXP200 (BRAF inhibitor) from Haisco Pharmaceutical Group for $20.0M upfront plus $1.8M milestones. The company raised $115.0M gross in July 2026 follow-on offering and $39.5M via ATM, achieving $140.7M cash as of Q3 2026 versus $31.6M at 2025 year-end. Ciprocopan was approved in China in July 2026 for treatment of PNH patients treatment-naïve to complement inhibitors; FDA update expected by year-end 2026.

MoonLake submitted a Biologics License Application (BLA) to the FDA on September 30, 2026, seeking approval of sonelokimab for moderate-to-severe hidradenitis suppurativa in adults and adolescents ≥12 years. The company reported positive Week 16 IZAR-1 Phase 3 results in psoriatic arthritis (42.1% ACR50 response rate with 60 mg dose), completed IZAR-2 enrollment, and holds $498.5M in cash with expected runway to mid-2028 plus $400M available through Hercules Capital debt facility. Q3 2026 R&D expenses increased to $68.9M (vs. $50.2M in Q2), primarily due to $18.7M accrued regulatory milestone fees.

uniQure announced FDA acceptance of BLA for ifezuntirgene inilparvovec (AMT-130) under Accelerated Approval pathway with Priority Review and PDUFA target date of May 1, 2027. The lead program showed 61% slowing of disease progression on Total Functional Capacity (primary endpoint for confirmatory study) at 48 months in 12 high-dose patients (nominal p=0.008). Company has $768.4M cash as of Sept 30, 2026 (vs. $622.5M Dec 31, 2025), expects runway into 2030; FDA-aligned confirmatory study (~200 patients, 2:1 randomization) expected to begin U.S. screening by end of 2026. Q3 2026 net loss was $61.2M ($0.88 per share) vs. $80.5M ($1.38 per share) in Q3 2025.

Shoals reported Q3 2026 revenue of $195.3M (up 43.8% YoY) and net income of $17.9M (up 50.5% YoY), with Adjusted EBITDA of $39.8M. The company raised full-year 2026 guidance to revenue of $665–685M and Adjusted EBITDA of $129–133M. Concurrently, Shoals announced an Agreement and Plan of Merger with ARRAY Technologies, Inc.; no financial terms of the merger were disclosed in this earnings release.

Rapport reported positive Phase 2 results for RAP-219 in bipolar mania (N=253): met primary endpoint with 3.1-point placebo-adjusted improvement in YMRS score (p=0.045) and pre-specified secondary endpoint (p=0.024); well tolerated with no serious adverse events. Company raised ~$410.7M gross proceeds in October 2026 (public offering of common stock and convertible notes due 2032) plus ~$10M via ATM in November 2026, bringing total cash to ~$815.4M as of November 3, 2026, with runway through end of 2029. Two Phase 3 trials in bipolar mania expected to initiate in 2H 2027 following FDA End-of-Phase 2 meeting (planned Q1 2027).

Lifecore reported Q3 2026 revenues of $25.3M (down 18.6% YoY from $31.1M); nine-month revenues $82.7M (down 21.8% YoY from $105.7M). Net loss widened to $40.1M in Q3 ($1.08/share) versus $10.0M in Q3 2025 ($0.29/share), driven by $31.3M change in fair value of related-party debt derivative. CDMO segment declined 29% YoY for nine months ($49.1M vs $69.4M). Company ended Q3 with $38.0M liquidity ($23.0M cash, $15.0M credit availability) and is pending completion of proposed merger with Hazel Merger Sub per agreement dated September 27, 2026.

Array Technologies announced a stock-for-stock merger with Shoals Technologies Group, creating an integrated energy infrastructure platform. Q3 2026 revenue was $330.2M with record $2.6B orderbook (+42% YoY, 1.6x book-to-bill). However, full-year 2026 guidance was reduced: revenue from $1.4–$1.5B to $1.34–$1.4B; Adjusted EBITDA from $210–$230M to $190–$210M; Adjusted EPS from $0.68–$0.75 to $0.57–$0.69. Reductions reflect project timeline delays due to macro/policy uncertainty and a $45M+ 45X tax-credit receivable reserve.

Q3 2026 revenue reached $620.1M (+17% YoY), with net earnings of $86.1M ($0.77 diluted EPS) and adjusted EPS of $0.93. Both segments showed double-digit organic growth: Sensors & Safety Systems +15% to $375.9M; Test & Measurement +21% to $244.2M. Ralliant raised full-year 2026 guidance to $2.34–$2.36B revenue and $3.10–$3.16 adjusted EPS. Adjusted EBITDA margin expanded 310 bps to 23.5%; net earnings margin improved 630 bps to 13.9%. TTM free cash flow was $303M. Book-to-bill exceeded 1.1; Enterprise Productivity Program targeting $50–60M annualized savings by 2028.

FTC Solar reported Q3 2026 revenue of $32.8M (up 25.4% sequentially, 26.1% YoY) with GAAP gross profit of $1.9M (5.8% margin) versus prior quarter loss of $2.2M. Company secured major new contracts post-quarter: 750MW from North American developer, 118MW from Tata Power Solar (India), 121MW from Brookfield-backed Evren (India), and Master Supply Agreement with AGR Renewables targeting 500MW UK projects through 2028. Contracted backlog stands at ~$640M. Guidance: 46% Q4 revenue growth (midpoint $48M); expects Q1 2027 Adjusted EBITDA profitability and full-year 2027 profitability. Adjusted EBITDA loss narrowed to $5.2M from $9.8M prior quarter.

Materion reported Q3 2026 net sales of $567.3M (up 27% YoY) and net income of $38.3M ($1.81/share diluted), with adjusted EBITDA of $70.7M at 22.5% margin. The company raised full-year adjusted EPS guidance to $7.10–$7.40, a 33% increase at midpoint. Record backlog (up 35% YoY) and incoming orders (up 25% YoY) support strong Q4 outlook; all three business segments delivered double-digit YoY growth.

SharkNinja reported Q3 2026 net sales of $1,976.4M (+21.2% YoY), net income of $338.4M (+79.3%), and Adjusted EBITDA of $461.3M (+45.7%). The company raised FY2026 guidance: net sales growth to 18–19% (from 16–17%), Adjusted EPS to $6.65–$6.75 (+25.9–27.8% vs prior year), and Adjusted EBITDA to $1,380–$1,391M (+21.5–22.5%). Gross margin expanded 910 bps to 59.2%, benefiting from $243.8M in IEEPA tariff refunds (net of $45.2M owed to factory partners). The company repurchased 1.3M shares YTD for $169.7M at avg $130.38/share.

Kennametal reported Q1 FY27 (ended Sept 30, 2026) sales of $768M (+54% YoY organic), operating income $379M (49.4% margin vs. 7.5% prior year), and diluted EPS of $3.48 (record Q1). The surge was driven primarily by ~$323M favorable timing of raw material (tungsten) pricing versus costs. The company reiterates full-year FY27 sales guidance ($3.33–$3.45B) but raises adjusted EPS guidance ($5.00–$6.00). Metal Cutting sales grew 29% organic; Infrastructure surged 97% organic. Notably, year-to-date free operating cash flow was negative $212M (vs. negative $5M prior year) due to massive inventory buildup from unprecedented tungsten price increases and advance supplier payments. Long-term guidance: 16–19% adjusted EBITDA margin in a steady-state (normalized) tungsten environment.

Townsquare Media suspended its quarterly cash dividend of $0.20/share effective immediately (last payment made Nov 2, 2026), redirecting ~$14M annually to liquidity and growth. Q3 2026 net revenue was $110.9M (+3.9% YoY), with Digital Advertising growing 12.7%, but Broadcast Advertising (ex-political) declined 5.2%; net loss was $4.0M vs $5.5M prior year. The company cited pressure on local advertisers from higher costs/rates and impact of floating-rate debt interest, with leverage at 5.43x net.

Trex reported Q3 2026 net sales of $360M (26% YoY growth), with net income of $52M ($0.52 diluted EPS). The company raised full-year 2026 guidance to $1,296M–$1,306M revenue and $355M–$360M adjusted EBITDA. Arkansas facility ramping to 50% capacity by year-end; $30M of Q3 revenue came from distribution load-in. Company repurchased 1.2M shares for $55M YTD and expects $300M total 2026 repurchases.

MITT reported Q3 2026 book value of $9.27/share, down 7.3% from $10.00/share in Q2 2026. The company reported negative EPS of $(0.49) per diluted share but positive EAD of $0.21/share. On August 9, 2026, MITT entered into a merger agreement to acquire Cherry Hill Mortgage Investment Corporation (CHMI), whereby each CHMI share will convert into 0.3063 MITT shares plus $0.41 cash from MITT and $0.52 cash from the MITT Manager. Transaction-related merger expenses totaled $2.0 million in Q3. The company declared a Q3 dividend of $0.24/share and maintains a $7.6 billion investment portfolio with 2.0x economic leverage.

United Therapeutics paid Arena Pharmaceuticals $525 million on November 3, 2026, to eliminate all future royalty obligations under their November 15, 2018 exclusive license agreement. The payment eliminates recurring royalty streams but preserves UT's obligation to pay milestone payments if achieved. This represents a one-time $525M cash outlay (4.7% of UT's ~$11.2B market cap) to convert variable future costs into a fixed historical expense.

Perrigo announced an agreement to sell its Infant Formula business for total consideration of up to $175 million ($40M upfront cash at closing plus up to $135M contingent on net sales milestones through 2030). The company expects to recognize an impairment loss of $275–375 million in Q4 2026 when the business is measured as held for sale. Q3 2026 core net sales declined 1.7% YoY to $908M; adjusted core EPS fell 9% to $0.61. The company narrowed full-year 2026 guidance for core organic net sales to –3.8% to –2.7% (prior: –3.0% to +1.0%) and core adjusted EPS to $2.15–$2.35 (prior: $2.25–$2.55), citing measured retailer inventory positioning and continued European softness.

Versigent reported Q3 2026 net sales of $2,450M (up 7.2% YoY), adjusted EBITDA of $275M (up 10.9%), and diluted EPS of $1.41. The company raised FY2026 net sales guidance midpoint and tightened all ranges; raised Free Cash Flow guidance midpoint to $275–$325M (from $200–$300M) while tightening the range. The board declared a $0.13/share quarterly dividend. Counterparty-specific details are not disclosed; $2.1B in bookings were secured during Q3.

Timken reported Q3 2026 sales of $1.21B (+4.7% YoY), diluted EPS of $1.34 (adjusted $1.65, +20.4%), and raised full-year 2026 EPS guidance to $4.05–$4.20 (adjusted $6.35–$6.50). The company generated $256M operating cash flow and $221M free cash flow. Key drivers include Bijur Delimon acquisition contribution, higher pricing, and volume gains in Industrial Motion (+12.4%). Timken completed the sale of its belts business to Gates Industrial on September 28, 2026, taking a $90.4M impairment charge, expected to improve segment margins. Net debt/adjusted EBITDA improved to 1.7x from 2.0x year-end.

CPI Card Group reported Q3 2026 revenue of $158.4M (+15% YoY), net income of $5.0M (+117%), and Adjusted EBITDA of $27.5M (+17%). The company raised full-year 2026 guidance for revenue growth to low-double-digit (from high-single to low-double-digit) and Free Cash Flow to $50–$55M (from $45–$50M). Year-to-date Free Cash Flow reached a company record of $46.1M; Net Leverage Ratio improved to 2.6x (from 3.6x YoY). Strategic wins include >30 new Arroweye customers post-acquisition (May 2025), TRISM performing on-track (acquired June 2026), and a 20% minority stake in Karta (Australia fintech).

Insulet reported Q3 2026 revenue of $842 million, up 19.2% YoY (19.6% constant currency), slightly above guidance. Omnipod revenue grew 19.7% ($836.6M); U.S. up 14.7%, International up 31.7% (33% constant currency). Operating income reached $189.8M (22.5% margin, +590 bps YoY); adjusted net income $138M (+57.2% YoY); diluted EPS $2.03 vs. $1.24 prior year. Board approved $1B share repurchase program with ~$400M allocated to Q4 2026. FY 2026 guidance raised: Total Omnipod growth now 21.5–22.5% constant currency (prior 21–23%), Adjusted Operating Margin ~150 bps YoY expansion (prior ~100 bps).

Marriott Vacations Worldwide reported Q3 2026 contract sales of $565M (+29% YoY), with VPG reaching $4,822 (+30%). Development profit nearly doubled to $142M. Full-year contract sales guidance raised to $2,120-$2,140M and adjusted EBITDA to $810-$830M (both midpoint increases), despite an estimated $16M hurricane impact. Net income was $82M vs. $2M loss prior year; adjusted net income $98M (+47%); adjusted EBITDA $216M (+27%). The company also completed a $460M term securitization post-quarter. Net corporate leverage improved to 3.6x from 4.0x. Board extended $322M share repurchase authorization by one year to Dec 31, 2027.

Charles River (market cap ~$7.3B) reported Q3 2026 revenue of $982.7M (down 2.2% reported, +4.7% organic) and non-GAAP EPS of $3.09 (+27.2% YoY), driven by strong Discovery & Safety Assessment segment performance (+5.9% organic) and a $245.6M tax benefit from foreign jurisdictional tax legislation. The company raised full-year 2026 guidance: organic revenue growth to at least +1.5% (from 0-1.0%) and non-GAAP EPS midpoint to $11.35-$11.55 (from $11.15-$11.45), adding $0.15 at midpoint. Non-GAAP operating margin expanded 330 bps YoY to 23.0%.

Wayfair reported Q3 2026 net revenue of $3.4B (+9.7% YoY), with U.S. revenue $3.0B (+11.4%), offsetting International decline of 2.3%. Net income $62M (vs. loss of $99M in Q3 2025); Adjusted EBITDA $236M at 6.9% margin (best Q3 since 2020). Active customers reached 22.2M (+4.7% YoY), orders delivered 11.0M (+12.2%), with LTM revenue per customer $596 (+3.1%). Cash position $1.1B; company reduced long-term debt from $3.2B (Dec 2025) to $2.6B (Sept 2026).

Viridian reported Q3 2026 net product revenue of $24.7 million from Lumvoa (veligrotug-vvze) for thyroid eye disease, with over 100 patients on therapy and a permanent CMS J-code assigned effective January 1, 2027. The company maintains $955.2 million in cash and expects to fund operations through profitability. Pipeline advances include elegrobart BLA submission on track for Q1 2027, VRDN-008 phase 1 data expected Q4 2026, and VRDN-292 phase 1 initiation planned Q4 2026.

Lifecore Biomedical and Alcon Research, LLC amended their contract manufacturing agreement effective November 1, 2026 (Amendment No. 3). Key changes: (1) contract term extended through December 31, 2034, with automatic 24-month renewals thereafter; (2) new exclusivity provision prohibits Lifecore from entering new agreements to develop, manufacture, or commercialize products competing with Alcon's current offerings from Nov 1, 2026 forward (existing competing arrangements grandfathered); (3) clarified remedies for non-conforming batches and updated minimum purchase obligations. Specific dollar amounts and percentage terms are redacted [***].

Vishay Intertechnology reported Q3 2026 revenues of $978.9M (highest ever, +24% YoY), gross margin of 25.5% (+600 bps YoY), operating margin of 9.4%, and diluted EPS of $0.37. The company raised Q4 2026 guidance to $990M ±$15M revenue and 26.0% ±50 bps gross margin. For 9M 2026, net revenues reached $2,706.8M, net earnings $94.3M, and diluted EPS $0.63. Book-to-bill stood at 1.29 with 6.6-month backlog. Capital expenditures for 9M were $253.4M; cash increased to $1,139.9M from $515.0M due to a $830.3M follow-on equity offering and $219M debt paydown.