Wolfspeed Secures $1.5 Billion Conditional Loan Commitment from US Defense Department

Chipmaker Wolfspeed (WOLF) said on Wednesday that it received a conditional loan commitment of up to $1.5 billion from the US Department of Defense to expand domestic production of silicon carbide materials and power devices, sending its shares up 27% in extended trading.

Wolfspeed manufactures energy-efficient silicon carbide chips used in applications requiring significant power conversion, including electric vehicles, solar inverters, and industrial power systems. The company said the conditional 30-year loan commitment, through the Defense Department's Office of Strategic Capital, supports its efforts to optimize its capital structure and strengthen its financial foundation.

The financing would also support upgrades to its gallium nitride technology for next-generation communications infrastructure and electronic warfare systems, alongside the development of radiation-hardening capabilities. The funding remains subject to due diligence, definitive agreements, government approvals, and other conditions. Under the proposed terms, Wolfspeed would be required to issue warrants allowing the Defense Department to purchase up to 7.5% of the company's fully diluted equity. Reuters reports.

🩺 Profound Medical Reports Strong Preliminary Third Quarter 2026 Revenue. Stock Up in Pre-Market

Profound Medical Corp. (NASDAQ: PROF; TSX: PRN), a commercial-stage medical device company that develops and markets innovative interventional MRI (iMRI) procedures, announced preliminary, unaudited revenue for the third quarter ended September 30, 2026.

Based on these preliminary results, the company expects to report record-breaking quarterly revenue exceeding current Wall Street expectations. GlobeNewswire reports.

🧩 Medicus Pharma (MDCX) Shares Fall 24% After Hours: Here's Why

Medicus Pharma Ltd. (NASDAQ: MDCX), a biopharmaceutical company, saw its shares fall 24.22% to $0.12 in after-hours trading on Wednesday after announcing a 50-to-1 consolidation of its common shares.

According to an SEC filing, the consolidation will take effect on October 12, with every 50 common shares automatically exchanged for one new share. The company said the move is intended to increase its share price and help it regain compliance with the Nasdaq Capital Market's minimum bid price listing requirement.

Shares will begin trading on a consolidated basis on October 12 under a new CUSIP number and ISIN, while the ticker symbol will remain MDCX. Benzinga reports.

🧪 Argenx Shares Plunge After Autoimmune-Disease Trial Halt

Argenx shares fell sharply after the biotech company halted a late-stage clinical trial of its Vyvgart drug due to a lack of efficacy in treating the autoimmune condition Sjögren’s disease.

Shares in Argenx were down 18% in European morning trading on Thursday, wiping out the stock’s year-to-date gains. If the decline holds through the close, it would mark the stock’s biggest one-day percentage drop since December 2023. WSJ reports.

🗂️ Resources Connection (RGP) Shares Tumble 13% After Hours: Here's Why

Resources Connection Inc. (NASDAQ: RGP), a global professional services firm offering on-demand talent, consulting, and outsourced services, saw its shares fall 12.83% to $3.26 in after-hours trading on Wednesday after reporting its first-quarter fiscal 2027 results.

The company reported revenue of $98.1 million, down 18.4% from $120.2 million a year earlier. The decline was primarily driven by fewer billable hours as clients delayed projects and took longer to make spending decisions.

Consulting revenue fell 25.8%, while on-demand talent revenue declined 13.2%. Benzinga reports.

🎙️ Fed's Waller Sees Additional Rate Hikes to Get Inflation Down Faster

Federal Reserve Governor Chris Waller said Thursday that additional interest rate hikes may be needed to bring inflation back to the Fed's 2% target, depending on incoming economic data. He noted that the hikes would not necessarily need to occur at consecutive meetings.

Speaking at the Central Bank of the Republic of Türkiye İstanbul Economic Forum, Waller cited persistent inflationary pressures, including potentially elevated oil prices through 2027 due to the Middle East conflict, rising technology costs driven by AI infrastructure expansion, and the threat of new tariffs from ongoing trade disputes. Yahoo Finance reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM ET). Stock Analysis reports.

1) DKI: Darkiris Inc.
Total gain: +232.93%

2) AIXI: Xiao-I Corporation
Total gain: +57.58%

3) PROF: Profound Medical Corp.
Total gain: +19.01%

4) WOLF: Wolfspeed, Inc.
Total gain: +15.52%

5) HAE: Haemonetics Corporation
Total gain: +14.05%

The closing price of the top three market percent gainers trading near or above $2 on Oct 7.

(All pricing and percent gains are based on regular market trading hours from 9:30 AM to 4:00 PM ET). Stock Analysis reports.

1) PFAI: Pinnacle Food Group Limited
Total gain: +116.67%

The stock appeared to be moving on no notable news.

2) XRPN: Armada Acquisition Corp. II
Total gain: +30.26%

The stock appeared to be moving on no notable news.

3) SMXT: SolarMax Technology, Inc.
Total gain: +28.36%

The stock appeared to be moving on no notable news.

(Estimate and Actual numbers represent Earnings Per Share in US Dollars)

ANGO

AngioDynamics

Q1 2027

Before Market Open

Estimate: -0.110

Actual: -0.040

PEP

PepsiCo

Q3 2026

Before Market Open

Estimate: 2.290

Actual: 2.340

SVNDY

Seven & i Holdings Co

Q2 2026

After Market Close

Estimate: N/A

Actual: 0.175

Time (ET) / Report / Period

• 8:30 AM / Weekly Jobless Claims / Oct. 3
• 10:00 AM / Monthly Wholesale Trade / Aug.
• 1:40 PM / Federal Reserve Bank of St. Louis President Alberto Musalem speaks at Bloomberg's The Future of Fixed Income event

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