ESS Tech Enters Securities Purchase Agreement With Institutional Investors to Raise Capital

The article lists 10 Robinhood penny stocks under $5 (screened by price and ranked by last close May 26) to watch in 2026. It cites views that small-cap earnings growth may outpace large caps in 2026 and notes research on penny-stock performance. Examples: ESS Tech (GWH) closed at $1.01; Roth cut its target to $2 (Buy) and ESS commissioned two iron flow battery systems. Fold Holdings (FLD) closed at $1.02; Cantor cut its target to $1.70 (Overweight); Q1 revenue was $5.6M (-21%), net loss $29.2M.

bp agreed to pay Louisiana $350M to settle remaining Deepwater Horizon claims, accelerating payments under the 2015 settlement. The payment resolves coastal zone litigation and provides Louisiana with earlier access to funds. bp CEO Meg O’Neill noted the agreement supports the state's investment and job creation. The 2015 settlement totaled up to $18.7B, with $4.9B allocated to Gulf Coast states.

SK Hynix canceled plans for a $10 billion U.S. IPO of its Solidigm unit due to regulatory opposition and shareholder concerns, citing market conditions. The decision follows scrutiny over potential share dilution and ownership structure complexities. SK Hynix shares rose after the announcement, despite broader market declines. Solidigm, a major flash memory producer, had planned to list as soon as next year, aiming for a valuation of up to $100 billion.

American Express plans to cut about 3,500 jobs, or roughly 4.5% of its workforce, according to a company spokesperson. CEO Stephen J. Squeri previously estimated 5% cuts. The company reported a $336 million pretax restructuring charge in Q3, alongside a 28% rise in net income to $3.712 billion and 9% revenue growth to $20.062 billion. The company raised its full-year earnings-per-share outlook.

Nebius Group N.V. secured a $3.5B credit facility from Citi for infrastructure spending, with pricing starting at Term SOFR + 2.75%. The company also has $5.75B in convertible notes, which could lead to share dilution. Additionally, Nebius plans to exchange $800M in notes for shares. As of June 30, it had $10.04B in convertible-note principal and $8.04B in cash.

Barclays rated Banco Santander (SAN) Overweight with a €14.50 target, citing it as their top Spanish bank pick. The bank warns of a ~10bp capital hit in Q3 if sovereign yields rise 10bp, potentially delaying buybacks. Santander will pay a €0.127 dividend per ADR on Nov 2, with Oct 29 as the record date.