Market movers: IBM, CleanSpark, Tower Semiconductor, Goldman Sachs…

Bank of America initiated coverage of Bel Fuse (NASDAQ:BELFB) with a Buy rating and a price objective of $330, based on 28 times its C27E EV/FCF estimate.

The bank said Bel Fuse has evolved into a higher-quality electronic components supplier, with stronger profitability driven by portfolio optimization, improved pricing, cost discipline and a shift toward higher-margin end markets such as aerospace and defense, space, and data infrastructure.

Uber Technologies Inc (NYSE:UBER, XETRA:UT8) is in advanced talks to acquire German food-delivery company Delivery Hero (XETRA:DHER, OTCQX:DLVHF), according to a Bloomberg report, with the companies aiming to finalize a takeover agreement as soon as this week.

Shares of Delivery Hero (XETRA:DHER, OTCQX:DLVHF) rose almost 6% following the report, while Uber shares fell about 2%.

American Resources Corp (NASDAQ:AREC) said its minority-owned subsidiary ReElement Technologies has been awarded a $25 million investment from the US Department of War through its Economic Defense Unit and the Office of the Under Secretary of War for Acquisition and Sustainment to expand domestic rare earth and critical mineral refining capacity.

The funding, provided through the Industrial Base Fund, will support the expansion of ReElement's Marion, Indiana, refining campus by financing additional refining equipment, production line installation and working capital.

CleanSpark Inc (NASDAQ:CLSK) shares surged more than 12% after the company announced a 20-year lease agreement for its Sandersville, Georgia data center campus with a high-investment-grade global technology company, marking a major expansion of its data center business.

The agreement is expected to generate approximately $6.6 billion in contracted revenue over the initial 20-year term, with potential revenue increasing to $11.6 billion if two five-year extension options are exercised.

Nine Mile Metals Ltd. (CSE:NINE, OTCQB:VMSXF, FRA:KQ9) has reported that its third drill hole of the 2026 program at the Wedge project in New Brunswick intersected visually identified sulphide mineralization, including pyrite and chalcopyrite, with laboratory assay results pending.

The company said drill hole DDH WD-26-03 was completed to a depth of 395 metres and intersected pyrite and chalcopyrite mineralization between 212.95 metres and 338.20 metres, spanning 125.25 metres. The hole was drilled to test the extension of mineralization identified in the previously reported hole WD-26-02.

Tower Semiconductor (NASDAQ:TSEM) shares rose 13% on Tuesday after the company announced a strategic expansion of its silicon photonics, silicon germanium (SiGe), and advanced packaging capabilities in Japan with support from the Japanese government.

The semiconductor foundry said the dual-track expansion plan is designed to significantly increase manufacturing capacity and support growing customer demand, particularly from artificial intelligence and data center applications requiring next-generation optical connectivity.

International Business Machines Corp (NYSE:IBM) shares fell about 25% to $217 on Tuesday after the company released preliminary second quarter 2026 results that came in below Wall Street expectations and warned that an unexpected shift in customer spending weighed on its software and infrastructure businesses.

The company reported preliminary operating (non-GAAP) earnings of $2.93 per share on revenue of $17.2 billion. Analysts had expected earnings of $3.01 per share on revenue of $17.86 billion.

Bank of America Corp (NYSE:BAC) shares rose about 2% in premarket trading after the bank reported second-quarter 2026 results that exceeded Wall Street expectations, driven by growth in net interest income, investment banking, trading and wealth management.

The bank reported earnings per share of $1.21, above the consensus estimate of $1.12.

Citigroup Inc (NYSE:C) on Tuesday reported second-quarter revenue that topped Wall Street estimates, fueled by strength in fixed income trading and investment banking.

The bank posted revenue of $24.77 billion for the quarter, ahead of analysts' average estimate of $23.74 billion, according to the data provided. Earnings per share came in at $3.15.

Goldman Sachs Group Inc (NYSE:GS, XETRA:GOS) shares rose more than 6% on Tuesday after the investment bank reported second quarter results that exceeded Wall Street expectations, driven by strong performances in investment banking and trading.

For the quarter ended June 30, Goldman Sachs reported net earnings of $6.63 billion, or $20.98 per diluted share, compared with consensus estimates of $14.48 per share.

Coinsilium Group Limited (AQSE:COIN, OTCQB:CINGF, FRA:5CT) told investors it will invest a further US$200,000 in Predictive Labs, and make up to 15% of its Bitcoin holdings available for venture-building after the portfolio company unveiled its first commercial product.

The additional investment, triggered by Predictive Labs meeting agreed development milestones, will take Coinsilium’s total commitment to US$350,000, and, as a result, it will hold 7,630 preference shares, equivalent to around 11.99% of the Singapore-based company.