Vertiv Slides After $1.45 Billion UtilityInnovation Group Acquisition

According to CNBC, Vertiv shares fell less than 1% after the AI infrastructure company announced a $1.45 billion acquisition of UtilityInnovation Group. The deal also includes up to $1.15 billion in additional consideration tied to EBITDA targets over 12- and 24-month periods, according to the company's press release. Vertiv said the acquisition will help data centers secure power faster. Sirius shares rose more than 3% after Deutsche Bank upgraded the stock to buy from hold and set a $45 price target, implying more than 60% upside from current levels. Dell Technologies jumped 8% in premarket trading after beating expectations on both revenue and earnings on Tuesday and lifting its fiscal 2027 forecast, citing strength in its artificial intelligence services business. Palo Alto Networks fell nearly 2% after reporting better-than-expected fiscal fourth-quarter earnings of $1.02 per share, excluding items, on $3.41 billion in revenue, topping LSEG estimates of 98 cents per share and $3.35 billion in revenue. MongoDB dropped around 13% despite posting better-than-expected second-quarter earnings and upbeat guidance. The company earned $1.90 per share, excluding items, on revenue of $772 million, compared with LSEG estimates of $1.61 per share and $734 million in revenue. Credo Technology fell about 9% after its first-quarter non-GAAP gross margin came in at 68%, slightly below the 68.3% estimate from analysts polled by LSEG, even as the company beat expectations on both lines for the quarter.