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Beam Global Acquires ScoutDI and Secures Nuclear Sector Order
Beam Global announced that ScoutDI, the industrial drone company with which Beam Global has recently signed a definitive acquisition agreement, has received an order for its Scout 137 drone inspection systems from a customer in the nuclear sector. The customer and order specifics cannot be identified for security reasons. The drones and software will be used to perform inspections and provide safety to personnel in nuclear facilities. The Scout 137 is a tethered drone for confined-space inspection that captures 4K visual inspection, ultrasonic thickness measurements, and 3D LiDAR data in a single flight, with unlimited flight time. It is used in maritime and offshore, oil and gas, power generation, including nuclear, mining, and critical infrastructure. On October 7, Beam Global entered into a definitive agreement to acquire ScoutDI. Closing of the transaction is expected to take place early in November and is subject to customary closing conditions.
S&P 500 Earnings Expected to Grow 30% in Q3
Stocks had a flattish session as investors digested earnings reports from big banks, as well as other major names like UnitedHealth and Domino's Pizza. Analysts expect S&P 500 earnings to grow 30% year-over-year in the third quarter, according to LSEG data. Meanwhile, Federal Reserve Bank of New York President John Williams told Bloomberg in an interview that it "may be appropriate to have one more rate hike."Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Big banks kicked off earnings season, with Citiand Goldman Sachsposting upbeat results, Wells Fargoreporting mixed quarterly results, and JPMorganreporting lower-than-expected Q3 earnings and revenueUnitedHealthprovided a "beat and raise" report for Q3Johnson & Johnsonalso provided a "beat and raise" report for Q3Domino's Pizzareported better-than-expected Q3 earnings and revenueAppleintroduced the Apple Home Collection lineup of smart home accessories, as well as a new 4K Apple TV and Apple HomeView2. WALL STREET CALLS:VF Corp.upgraded to Buy at Truist and to Overweight at Piper SandlerPershing Square Inc.downgraded to Underperform from Neutral at BofAViking Holdingsupgraded to Overweight at BarclaysSecuritizedowngraded to Neutral at CitiAdobedowngraded to Hold at HSBC3. AROUND THE WEB:Boeingis set to begin deliveries of 737 Max aircraft to Japan's All Nippon Airways in December, Nikkei Asia reportsTake-Two'sRockstar intends to release a PC version of "Grand Theft Auto VI" during the first quarter of 2027, GamesBeat reportsTencenttold investors its planned bond offering of $5B will finance AI-related expenditures, Bloomberg saysKrogeranticipates a reduction of over one-third of its corporate headcount, eliminating about 3,000 roles across various functions over the next 3 years, Bloomberg reportsEpic Games has postponed the release of an upcoming video game collaboration with Disneyand has told its developers to use more AI tools to complete the game, Bloomberg says4. MOVERS:Bumblegained after announcing it will be acquired by Ithaca for $6.05 per share in cashFermirose after signing a credit support agreement with AMDBigBear.aiwas higher after securing more than $225M in contract awardsSyndaxwas lower after announcing its idiopathic pulmonary fibrosis study did not meet its endpointSix Flagsfell after one park visitor died and four others were injured at Six Flags Over Georgia5. EARNINGS/GUIDANCE:Unity Bancorpreported Q3 results, with CEO James Hughes calling it "another strong quarter"FB Financialreported Q3 results, with EPS in-line with consensusBeam Globalreported preliminary Q3 resultsScienturereported preliminary Q3 results, with revenue missing consensusAlbertsonsreported Q2 results, with CEO Susan Morris stating the results "do not reflect the potential of the Company"INDEXES:The Dow fell 180.45, or 0.35%, to 51,670.10, the Nasdaq lost 41.52, or 0.15%, to 27,204.38, and the S&P 500 declined 1.79, or 0.02%, to 7,805.45.
S&P 500 Earnings Expected to Grow 30% in Q3
The major averages were fractionally lower near noon as investors digest earnings reports from big banks, as well as other major names like UnitedHealth and Domino's Pizza. Analysts expect S&P 500 earnings to grow 30% year-over-year in the third quarter, according to LSEG data.Technology stocks are weighing on sentiment as concerns about Chinese competition intensify following reports of advances by chipmaker ChangXin Memory Technologies. Semiconductor shares are under pressure globally, with South Korea's Kospi dropping 5.5% and Japan's Nikkei falling 1.8%.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Big banks kicked off earnings season, with Citiand Goldman Sachsposting upbeat results, Wells Fargoreporting mixed quarterly results, and JPMorganreporting lower-than-expected Q3 earnings and revenueUnitedHealthprovided a "beat and raise" report for Q3Johnson & Johnsonalso provided a "beat and raise" report for Q3Domino's Pizzareported better-than-expected Q3 earnings and revenueAppleintroduced the Apple Home Collection lineup of smart home accessories, as well as a new 4K Apple TV and Apple HomeView2. WALL STREET CALLS:VF Corp.upgraded to Buy at Truist and to Overweight at Piper SandlerPershing Square Inc.downgraded to Underperform from Neutral at BofAViking Holdingsupgraded to Overweight at BarclaysSecuritizedowngraded to Neutral at CitiAdobedowngraded to Hold at HSBC3. AROUND THE WEB:TSMCexecutives in charge of overseas operations met Texas officials and started more serious discussions in 1H26, after talking on and off for more than 10 years, Culpium saysTencenttold investors its planned bond offering of $5B will finance AI-related expenditures, Bloomberg saysKrogeranticipates a reduction of over one-third of its corporate headcount, eliminating about 3,000 roles across various functions over the next 3 years, Bloomberg reportsEpic Games has postponed the release of an upcoming video game collaboration with Disneyand has told its developers to use more AI tools to complete the game, Bloomberg saysSpeaking at the DBS Asia Future Forward Conference in Singapore, BroadcomCEO Hock Tan cautioned that market sentiment has grown overheated and that short-term trading driven by volatile data resembles gambling, CNBC reports4. MOVERS:Bumblegains after announcing it will be acquired by Ithaca for $6.05 per share in cashFermirises after signing a credit support agreement with AMDBigBear.aihigher after securing more than $225M in contract awardsSyndaxlower after announcing its idiopathic pulmonary fibrosis study did not meet its endpointSix Flagsfalls after one park visitor died and four others were injured at Six Flags Over Georgia5. EARNINGS/GUIDANCE:Unity Bancorpreported Q3 results, with CEO James Hughes calling it "another strong quarter"FB Financialreported Q3 results, with EPS in-line with consensusBeam Globalreported preliminary Q3 resultsScienturereported preliminary Q3 results, with revenue missing consensusAlbertsonsreported Q2 results, with CEO Susan Morris stating the results "do not reflect the potential of the Company"INDEXES:Near midday, the Dow was down 141.31, or 0.27%, to 51,709.24, the Nasdaq was down 69.46, or 0.25%, to 27,176.44, and the S&P 500 was down 14.53, or 0.19%, to 7,792.71.
Beam Global Acquires ScoutDI to Expand Drone Business
"Our third quarter results demonstrate the strength of our core business and the progress we continue to make across our markets," said Desmond Wheatley, CEO of Beam Global. "The acquisition of ScoutDI represents a significant opportunity to build on our existing capabilities, bringing together our established customer base, engineering expertise, manufacturing capabilities and global footprint with ScoutDI's advanced drone technology. This positions Beam Global to develop a vertically integrated drone business serving commercial, government and defense markets."
Beam Global Reports Q3 Revenue of Approximately $6.2M, Acquires ScoutDI
Beam Global reports preliminary Q3 revenue of approximately $6.2M, an increase of 8% vs. $5.8M for Q3 of 2025. "Our Q3 results demonstrate the strength of our core business and the progress we continue to make across our markets," said Desmond Wheatley, CEO. "The acquisition of ScoutDI represents a significant opportunity to build on our existing capabilities, bringing together our established customer base, engineering expertise, manufacturing capabilities and global footprint with ScoutDI's advanced drone technology. This positions Beam Global to develop a vertically integrated drone business serving commercial, government and defense markets." On October 7, Beam Global signed a definitive agreement to acquire ScoutDI, a Norwegian developer of drone systems and AI-enhanced software for industrial inspection in confined and hard-to-reach spaces, for approximately $24M in cash and Beam Global common stock. The transaction is expected to close in November 2026, subject to customary closing conditions. Following the acquisition, Beam Global intends to manufacture ScoutDI's drone systems at its U.S. and European facilities.
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