Daily Brief United States: Harte Hanks , NVIDIA Corp, Petmed Express, Reliance Worldwide Corp, Holtec Nuclear, Paypal Holdings, nCino, Okta , Intuit Inc, Crowdstrike Holdings and more

• Harte Hanks shareholders receive $5/share cash and 0.5 shares of Star preferred stock, with a 17% spread.
• Financing includes Star Equity’s cash, Harte Hanks’ cash, and a credit facility requiring lender amendment.
• Merger aims for $10m synergies, boosting combined adj. EBITDA by 50%, despite HHS’s negative trailing 12-month EBITDA.

• NVIDIA reaffirmed its confidence in delivering 70% year-over-year revenue growth for the coming year, noting unconstrained demand exceeds 100%.
• While software coding remains primary high-ROI use case, Huang highlighted cybersecurity as the next massive application, with NVIDIA deploying swarms of Nemotron models for red-teaming (bug finding) and blue-teaming (patching) 
• NVIDIA is actively working with the financial sector to position its high-utility GPU platforms as durable, asset-backed collateral for institutional financing. Seem like the strategy is working well, for now…

• Severe Revenue Contraction & Share Loss: PetMed Express (PETS) has experienced sustained top-line deterioration, with revenue dropping from $281.1M in FY2024 to $179.0M in FY2026 (-11.3% 3-year CAGR). The company faces structural headwinds from omnichannel pet retail powerhouses and veterinary clinic consolidation.
• Acute Profitability Collapse & Cash Burn: Operational performance weakened severely in FY2026, marked by a net loss of -$57.3M and negative free cash flow of -$33.0M. Persistent operating deleverage and escalating customer acquisition costs prompted the total suspension of the historical dividend.
• Distressed Valuation vs. Elevated Turnaround Risk: Trading at 0.1x EV/Sales and 1.6x P/B, PETS reflects deep distress pricing. While the valuation offers asymmetric upside if management stabilizes the core pharmacy base and expands into higher-margin pet wellness services, execution risks remain exceptionally high.

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• Back on the 18th August 2026, Reliance Worldwide Corp (RWC AU) entered into a process deed with Brookfield, potentially leading to a A$4.75/share Offer by way of a Scheme.
• Brookfield was granted four weeks of additional exclusive due diligence to “progress the proposal“. That exclusivity expires today.
• Should Brookfield firm terms, Reliance is permitted to “go shop” for 30 days. After AustralianSuper bumped its holding, twice, post-deal-announcement, a higher price may be warranted.

• Palisades is the near-term catalyst, with the 800MW restart expected to provide a meaningful financial step-up once commercial operations resume.
• SMR-300 offers the transformational opportunity, positioning Holtec to participate in the global shift toward advanced nuclear power.
• A $24 billion backlog and established nuclear-services businesses provide recurring revenue and cash flow while Holtec funds its growth initiatives.

• PayPal Holdings finds itself at one of the most consequential moments in its history.
• After Stripe and private-equity firm Advent International reportedly explored acquiring the payments company at roughly $60.50 per share, valuing it at more than $50 billion, negotiations stalled as the parties remained apart on price.
• That has put new CEO Enrique Lores firmly in the spotlight.

• nCino, Inc. reported its second quarter fiscal year 2027 results with total revenues reaching $161 million, reflecting an 8% year-over-year increase.
• Subscription revenues grew 10% year-over-year to $143.5 million, with a 12% growth rate when excluding the U.S. mortgage segment, which faced a slight decline of 1%.
• Non-U.S. revenues accounted for $36.4 million, up 9% year-over-year, supported by a 13% growth in non-U.S. subscription revenues despite minor foreign exchange headwinds.

• Okta’s second quarter fiscal 2027 results highlight ongoing strength in its core workforce and customer identity platforms, complemented by promising early traction in AI security products.
• The company reported broad-based growth across large enterprises—with over 600 customers generating annual contract values (ACV) exceeding $1 million—and notable expansion driven by upselling and cross-selling.
• New products, including Okta Identity Governance and AI-related offerings, represented roughly 30% of bookings during the quarter, delivering an average ACV increase of about 40% when included in deals.

• Intuit Inc. reported solid full-year fiscal 2026 results, with total revenue increasing 14% and both GAAP and non-GAAP diluted EPS rising 20%.
• Operating margins expanded, supported by its Big Bets in assisted tax, money, and mid-market, which collectively grew 34% and represented 30% of revenue.
• However, online paying customers increased only 3% year-over-year, reflecting slower-than-desired customer acquisition.

• CrowdStrike Holdings, Inc. reported its fiscal second quarter 2027 results with record-breaking performance across several key metrics, driven largely by heightened cybersecurity demand amid the accelerating adoption of artificial intelligence (AI) technologies.
• The company highlighted its “Mythos moment,” describing it as an inflection point marking increased market awareness of cybersecurity’s critical role in AI deployment.
• This evolving environment has expanded CrowdStrike’s total addressable market and intensified demand for its security platform.