Ultralife surged 144% after EnerSys agreed to acquire the battery maker for $16 per share in cash, valuing it at approximately $320 million. Enphase Energy tumbled more than 18%, while PPG Industries gained 6% after reporting record quarterly earnings of $2.25 per share on an adjusted basis and raising the midpoint of its full-year guidance. Robinhood fell 7% as revenue increased 12% to $1.42 billion, but net income declined 14% to $476 million and cryptocurrency revenue dropped 55% to $120 million. SK hynix advanced 7% on record quarterly results driven by demand for artificial-intelligence memory products, while Logitech dropped more than 11% after reporting mixed quarterly results. Vertiv rallied 16% after beating earnings and revenue expectations and issuing stronger guidance, while GE Vernova gained more than 1% after agreeing to acquire Trench Group for approximately $9 billion and raising its full-year revenue forecast to $47 billion.
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