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OpenAI sets November 12 to end Cursor’s model contract after SpaceX close
OpenAI is winding down Cursor’s model contract, with a proposed shutoff date of November 12, 2026. Access continues until then. Future models, including Astra, will not go to Cursor. SpaceX’s 8-K prices the August 14 close at $60.0 billion.
FDA approves Mimrylo, the first hepcidin mimetic for adult polycythemia vera
The Food and Drug Administration approved Mimrylo (rusfertide) on August 28, 2026, for adults with polycythemia vera. In the VERIFY trial of 293 adults, 76.9% on Mimrylo required no phlebotomies during the 32-week period, compared with 32.9% on placebo. Takeda Pharmaceuticals America holds the NDA. Takeda said the approval does not change its forecast for the fiscal year ending March 31, 2027.
Meta can absorb the AG youth-safety settlement as a decade of installments; the extra cash only pays if rivals copy it
Meta described approximately $18 billion over 10 years and a $10 billion Q3 legal accrual. June 30 cash and marketable securities were $90.26 billion. The agreement does not admit liability. Extra cash pays only if rivals copy the terms.
Warsh at Jackson Hole says inflation is still too high and he is committed to a discipline, not a decision
Prepared remarks titled In Our Time, posted August 28, 2026. Warsh did not announce a rate change. He said inflation remains too high, labor is consistent with full employment, and he is committed to a discipline, not a decision.
FDA approves Lisraya, the first oral drug indicated for adult dermatomyositis
The U.S. Food and Drug Administration on August 27, 2026, approved Lisraya (brepocitinib) tablets for the treatment of dermatomyositis in adults. The FDA page calls it the first FDA-approved oral treatment option for the disease. Roivant Sciences Ltd. furnished an 8-K the same day saying the NDA was submitted by its subsidiary Priovant Therapeutics, Inc., and that LISRAYA is available immediately in the United States. The FDA page reports a higher average Total Improvement Score at week 52 on 30 mg versus placebo. It does not print that average as a number.
AMETEK completes $5.0 billion all-cash purchase of Indicor Instrumentation
This is a close, not a new announcement. $5.0 billion all-cash for Indicor Instrumentation from Indicor, LLC. Businesses join EIG and EMG. Company-said 2026: about $350 million sales; modestly accretive to adjusted earnings.
Perion to buy in-store retail-media operator PRN for up to $12 million cash
Perion (NASDAQ and TASE: PERI) said on August 26, 2026, from New York and Tel Aviv, that it is acquiring PRN, which it describes as an in-store retail-media company. Consideration is up to $12 million in cash paid at closing, cash-free and debt-free, subject to customary purchase-price adjustments. The company says the deal is expected to be accretive from closing, to contribute about $3 million to Adjusted EBITDA in 2027 before synergies, and not to have a material impact on the full-year 2026 outlook. A closing date is not in the exhibit.
AES received CFIUS approval. The Horizon Parent take-private is not closed.
The AES Corporation (NYSE: AES) said in an August 27 Form 8-K that it received CFIUS Approval, as that term is defined in its March 1 merger agreement with Horizon Parent, L.P. AES called the approval a condition to closing. The merger still needs additional regulatory approvals the company did not name, plus other customary conditions. If it closes, AES said it would be jointly owned by vehicles affiliated with Global Infrastructure Management, LLC and the EQT Infrastructure VI fund, as well as other investors.
Gap sales fell 2% as a $417 million tariff-recovery benefit lifted reported profit
Net sales were $3.651 billion and comparable sales fell 1%. Adjusted diluted EPS was $0.52, while Gap raised its adjusted full-year EPS range to $2.35–$2.45 and announced an Old Navy leadership transition.
Victory Capital agrees to buy First Eagle for about seven billion dollars
Victory Capital (NASDAQ: VCTR) agreed August 26, 2026 to buy 100% of First Eagle from Genstar and employees. About $7.0 billion is cash and new equity; notes are assumed separately. Close is expected by end of Q1 2027, subject to approvals.
Uber publishes BaFin-approved Offer Document for Delivery Hero, opening the acceptance period
The cash offer is forty-one euros and fifty cents a share. Acceptance runs from August 27 through November 5, 2026. Delivery Hero’s boards are expected to support the Offer; their joint reasoned statement is still forthcoming.
Vanguard agrees to buy Altruist and keep the advisor platform standalone
Vanguard and Altruist said on August 26, 2026 that they have a definitive agreement for Vanguard to acquire the AI-forward wealth-tech and RIA custody platform. Terms were not disclosed. The companies expect Altruist to stay standalone after the close, with its leadership, brand, and advisor focus intact. Close is expected later this year, subject to required regulatory approvals.
Shein's Hong Kong range is HK$47.60 to HK$49.50 a share, implying HK$202.1 billion to HK$210.2 billion
Stock code 00625. 279,992,500 Class B shares. Official Offer Price due 31 August 2026; dealings expected 1 September. Reuters sources said HK$48.56 / about US$26.5 billion, which is not the HKEX price.
Dolby appoints Marc Whitten president and CEO as Kevin Yeaman retires
An 08-27-2026 Form 8-K names Marc Whitten president, CEO, and director effective the same day. Kevin Yeaman retired from those roles after nearly two decades and stays as an advisor. Exhibit 99.1 is furnished, not deemed filed.
Hormel Foods third-quarter net sales were $2.96 billion; diluted EPS was $0.11
Organic net sales down 2%. Operating income $111 million; adjusted $266 million. Cash from operations $241 million, up 54%. Fiscal 2026 sales now $12.1 billion to $12.2 billion. Figures from the August 27, 2026 Form 8-K.
EIA: Lower 48 working gas rose 15 billion cubic feet to 3,184 billion cubic feet as of August 21
Week ending August 21, 2026: Lower 48 working gas was 3,184 billion cubic feet, up 15 from 3,169. Stocks were 30 billion cubic feet below last year and 167 billion cubic feet above the five-year average.
Royal Bank of Canada’s third-quarter net income was $6.0 billion in Canadian dollars; diluted EPS was $4.23
Net income rose 11% year over year. Reported ROE was 17.9% and CET1 13.5%. Adjusted net income of $6.1 billion and adjusted diluted EPS of $4.28 stay separate. Exhibit 99.1 is in Canadian dollars; this page does not convert to U.S. dollars.
DOL: advance initial claims fell 4,000 to 203,000 in the week ending August 22
USDL 26-1430-NAT. Week ending August 22: advance SA initial claims 203,000, down 4,000 from the previous week's revised 207,000. Four-week average 205,500. Week ending August 15: insured unemployment 1,778,000.
ECB account shows all members backed the July hold; some would not have opposed a hike
The 08-27-2026 account of the 07-22-2026 – 07-23-2026 meeting records that all members agreed to keep the three key rates unchanged. Members judged inflation risks to the upside. This is the record of that meeting, not a new rate decision.
Dollar Tree sales rose 7% to $4.9 billion; $1.31 of $2.70 EPS came from tariff refunds
Comparable store net sales increased 3.7%, with average ticket up 3.3% and traffic up 0.4%. Operating income was $690 million. Fiscal 2026 adjusted EPS is now $7.70 to $8.05. Figures are from the August 27, 2026 Form 8-K.
Okta reports $805 million Q2 revenue and $4.858 billion of remaining performance obligations
Subscription revenue $793 million, up 12%. Remaining performance obligations up 17%; current RPO up 14%. Cash from operations $234 million; free cash flow $227 million. Q3 revenue guided at $813 million to $817 million.
Bank of Korea raises the Base Rate 25 basis points to 3.00 percent
The Monetary Policy Board moved the policy rate from 2.75 percent to 3.00 percent for the intermeeting period on August 27, 2026. Six members supported the increase. Hwang Kunil voted to keep the Base Rate at 2.75 percent.
The refund was $100 million. The other part is why Abercrombie jumped 36 percent.
Abercrombie & Fitch Co. closed at $147.75 on August 26, 2026, up $38.85, or 35.67 percent, from $108.90. That is the New York Stock Exchange session, not the 11 percent some morning wires printed before the open. Fiscal second-quarter sales were about $1.27 billion, up 5 percent. Diluted earnings were $4.17 a share. About $1.75 of that, and 790 basis points of the 19.9 percent operating margin, came from International Emergency Economic Powers Act tariff refunds. Take the check out and the quarter still beat the May outlook. Abercrombie the brand did the growth work. Hollister, still the larger name, did not.
Uncrustables and Café Bustelo did the work. Then Smucker raised the year.
The J.M. Smucker Co. sold about $2.22 billion in the quarter ended July 31, 2026, up 5 percent. Adjusted earnings were $3.24 a share, and $0.84 of that was tariff refunds. The brands that actually moved sat in the freezer aisle and the coffee aisle. Sweet baked snacks are still the weak spot.
Nevada authorized Tesla Robotaxi for up to 5,000 fully autonomous vehicles in Clark County. That is a permit ceiling, not a fleet.
The Nevada Transportation Authority unanimously approved Tesla Robotaxi, LLC on August 20, 2026, and said so in an August 21 release. Tesla is authorized for up to 5,000 fully autonomous vehicles in Clark County in the first 12 months after the permit is issued. Waymo LLC and Aviari Services, LLC are each authorized for up to 1,000. Those are first-year ceilings, not cars on the road. Tesla.com does not list Las Vegas as a live robotaxi city. It lists live Model Y rides in Miami, Orlando, Tampa, Austin, Dallas, and Houston. Cybercab stays “future.”