YXT.com stock tumbles 64% after pricing $1.05M offering

Primo Brands (NYSE:PRMB) shares fell 5.6% after a major holder, an affiliate of One Rock Capital Partners, announced an underwritten secondary offering of 20 million shares under the company’s shelf registration. The holder will receive net proceeds; Primo will repurchase $10 million of shares privately at the offering price less discounts. Morgan Stanley is the underwriter.

Diageo, the Guinness owner, said it will initiate cost-cutting across operations and supply chains to reduce costs by $1bn over three years. It notified Ireland’s government of proposed collective redundancies, with up to 150 roles at its Irish operation at risk. Diageo reported $19.6bn revenue and $3.16bn operating profit for the 12 months to July, both down.

Diageo, maker of Guinness and Johnnie Walker, outlined a $1.2bn restructuring plan alongside preliminary results for the year ended 30 June 2026. The company reported organic net sales down 2% and net sales of $19.6bn down 3%, with volumes down 0.4%. Europe, LAC and Africa grew, while North America (-8.4%) and Asia Pacific (-6.3%) fell.

United Wholesale Mortgage (UWMC) reported a Q2 2026 net loss of $451.9 million on $888.0 million revenue, citing a hedge-related mark-to-market impact tied to its failed bid to acquire Two Harbors Investment Corp. UWMC said it secured $1.65 billion preferred equity from Oaktree and SFS and may raise up to $400 million via a rights offering, totaling $2.05 billion.

Diageo (DEO) CEO Dave Lewis outlined a US$1 billion cost-cutting plan over three years, targeting weak growth. The program includes price reductions on some brands and investment in areas like Guinness and canned cocktails. Diageo reported fiscal 2026 net revenues of US$19.64 billion and forecast low-single-digit organic net sales growth through 2029. Shares rose up to 11% intraday.

UWM Holdings, parent of United Wholesale Mortgage, shares fell about 40% after the company suspended its quarterly dividend and raised $2.05 billion in equity. According to UWM, the capital came from Oaktree Capital Management and SFS Group Capital LLC. UWM cited weaker liquidity and equity, reporting Q2 loss of $451.9 million on $888 million revenue.