Waldencast stock tumbles on plan to delist from Nasdaq

Waldencast stock fell 15.3% after announcing plans to delist from Nasdaq by October 2, 2026, and seek OTC quotation under the new ticker 'MLKM'. The company cited high U.S. listing costs and reduced need for public equity markets. The Nasdaq Composite and S&P 500 also declined, amplifying the selling pressure. The move is seen as a liquidity downgrade, potentially triggering forced selling by institutional funds.

Truist Financial (TFC) agreed to sell $5.5 billion in auto loans, generating $5.2 billion in net proceeds. The sale is part of CEO Mike Lyons' strategy to exit less profitable businesses. Truist is also reviewing its securities portfolio to offset the capital impact. Analysts expect further divestitures as the bank aims for stronger growth and profitability.

Oracle is conducting global job cuts, with affected employees notified on September 14. The company increased its restructuring costs by $700M to $2.8B. Employees and families shared emotional accounts of sudden layoffs on social media. India may be significantly impacted, with reports suggesting thousands of job losses. Oracle's workforce reduced by 21,000 in fiscal 2026. The company did not comment on the reports.

Abbott Laboratories will pay $385 million to settle U.S. and state allegations regarding manufacturing practices at its Michigan and Arizona facilities from 2018 to 2022, according to the DOJ. The settlement resolves claims of false submissions to government programs due to alleged contamination risks and inadequate testing. Abbott will pay $348.7 million to the federal government and $36.3 million to states. Three whistleblowers will receive $69 million.

Coca-Cola plans $10bn in US investments from 2026 to 2030, covering infrastructure projects across multiple regions. The investment includes contributions from the company and its bottling partners. Coca-Cola reported $2.2bn in expected capex for its fiscal year. The company highlights its economic impact, with an independent study showing its system contributed $85bn to US GDP and supported nearly 1 million jobs.

Axon Enterprise (AXON) stock fell 7.88% to $451.55 after announcing a $1B convertible notes offering. Options activity shows mixed signals, with elevated call volume but increased demand for downside protection. Technical indicators suggest a strong downtrend, with key support levels at $447.71 and $422.16. The stock has lost 43% from its 52-week high.