GM lifts outlook, Super Micro margins double, BofA warns on rates

General Motors raised its full‑year 2026 adjusted EBIT guidance to $14 billion, $16 billion, up $500 million, following a Q2 with $48 billion revenue and $3.94 billion adjusted EBIT. The boost reflects higher North‑American truck margins and lower tariff costs, and the company added a $0.18 quarterly dividend.

Super Micro Computer now expects Q4 FY2026 gross margins of 15%‑17%, up from an 8.2%‑8.4% outlook, thanks to a favorable customer and product mix. The AI‑server maker also reported over $60 billion in new orders and a record backlog, sending the stock up 17.5% in after‑hours trading. This signals a rapid profitability surge as AI data‑center demand spikes.

Kevin Warsh reiterated a 2% inflation goal but never confirmed that the PCE index is the metric, diverging from the Fed’s long‑standing definition of price stability. This ambiguity could undermine the Fed’s ability to anchor expectations and signal policy moves, raising doubts about future rate guidance.

Brian Moynihan warned that inflation will stay elevated into 2027‑28, pushing Bank of America to flip its outlook from cuts to three quarter‑point Fed hikes by year‑end. The forecast signals continued monetary tightening, tightening household budgets and reshaping investors’ rate‑risk bets.

Intersnack Group will buy all Utz Class A shares for $14.25 each, a 91% premium that values the snack maker at roughly $2.9 billion. The deal splits ownership 50/50 between Intersnack and the Rice‑Lissette family, giving the German firm a foothold in the U.S. market while supplying Utz with global scale and innovation.

Candid Health just closed a $120 million Series D led by Sixth Street Growth, tripling its valuation and pushing annual recurring revenue up 190% YoY. The AI‑driven billing platform aims to slash the $280 billion U.S. medical‑billing mess, promising near‑zero claim rejections and higher net collections for providers.

IREN sealed $2.8 billion in multi‑year AI cloud contracts with developers like Microsoft and NVIDIA, boosting its 2026 cloud ARR target to over $4 billion. About 85% of that target is already under contract, and pre‑payments cover roughly 45% of GPU cap‑ex, giving the company strong visibility and cash flow.

Data from StepStone’s SPI database shows the median EV/EBITDA for U.S. buyouts hit 12.5× in 2024, tying the 2021 record despite higher interest rates. Large‑cap deals ($1B+ EV) were priced at 16×, with sponsors funding the gap largely with equity, equity/EBITDA rose to 7.8×, the highest since 2015. The trend hints at fierce competition and a shift away from debt‑heavy financing.