Stock Market News for September 28, 2026

At a glance

On September 28, 2026, AMD agreed to acquire World Labs in an all-stock transaction valued at approximately $8.2 billion; Merck closed an exclusive global license for SPR2015 with a $400 million upfront payment; Kodiak Sciences said Zenkuda and tabirafusp-ted met primary endpoints in the Phase 3 DAYBREAK wAMD trial; Snowflake announced a proposed $3.5 billion private placement of convertible notes.

Deals and licensing

Advanced Micro Devices (AMD) agreed to acquire World Labs in an all-stock transaction valued at approximately $8.2 billion, expected to close by the end of 2026 subject to regulatory approvals.

Merck (MRK) closed an exclusive global license with SciBrunch for preclinical SPR2015, paying a $400 million upfront and creating potential total deal value of $2.13 billion, and will record a $400 million pre-tax charge in Q3 2026 GAAP.

AAR (AIR) agreed to acquire a 65% controlling interest in MRO Holdings at an implied $4.0 billion enterprise value, funding the initial purchase with about $2.1 billion of new debt, approximately $780 million of shares to existing MRO shareholders and other proceeds.

Drug trials and regulatory

Kodiak Sciences (KOD) reported Zenkuda and tabirafusp-ted met primary vision endpoints in the Phase 3 DAYBREAK wet AMD trial, with Zenkuda’s primary result p=0.0007 and 54% of Zenkuda patients on a six-month dosing interval under strict retreatment criteria; tabirafusp-ted’s primary p=0.0036 and anatomical secondary p<0.0001.

Tempus AI (TEM) received FDA 510(k) clearance for ECG‑MR, software that analyzes resting 12‑lead ECGs to flag signs associated with undiagnosed moderate or severe mitral regurgitation for patients aged 65 or older at risk of cardiovascular disease.

Financings and offerings

Snowflake (SNOW) announced a proposed private placement of $3.5 billion of 0.00% convertible senior notes consisting of $1.3 billion due October 15, 2029 and $2.2 billion due October 15, 2031, with initial purchasers holding upsizing options and conversions potentially settled in cash, shares or both.

Hut 8 (HUT) closed a $1.07 billion senior secured revolving credit facility with a four-year term and an initial margin of SOFR plus 175 basis points, including a $1.07 billion letter‑of‑credit sublimit for site-development collateral.

Earnings and results

Jefferies Financial Group (JEF) reported Q3 2026 net revenues of $2.22 billion, net earnings attributable to common shareholders of $261 million (up from $224 million a year earlier) and diluted EPS of $1.08.

Leadership and management

MongoDB (MDB) named Dev Ittycheria interim president and CEO effective immediately after Chirantan “CJ” Desai stepped down to pursue a role at Meta Platforms; the board began a search for a permanent CEO and retained an executive search firm.

Contracts, orders and partnerships

Volato Group (SOAR) said its Alignment Engine subsidiary signed two four‑year AI infrastructure orders worth $1.17 billion with one customer for dedicated GPU capacity at a planned Ohio campus, with approximately $133 million in customer prepayments including about $40 million due after execution.

Ondas (ONDS) announced Cyberhawk secured a three‑year drone inspection and surveying agreement with SSE’s British electricity network businesses, covering transmission, distribution and an option to extend for two years and adding offshore wind turbine inspection Lot 2 work.

DraftKings (DKNG) signed an exclusive sportsbook and online casino integration sponsorship with Prime Video for NHL on Prime’s Wednesday Night Hockey for the 2026‑27 season, including select Stanley Cup playoff coverage and branding in broadcasts serving viewers in Canada.

Government and non-dilutive funding

SCYNEXIS (SCYX) secured a BARDA contract providing up to approximately $214 million to develop antifungal candidate SCY‑247, with an initial base period award of about $18.5 million to support advancement into a Phase 2 trial for invasive candidiasis.