Data Center Play Modine Manufacturing Soars On New $4 Billion Deal
Modine Manufacturing reported a long‑term agreement to supply up to $4 billion in cooling equipment to an unidentified data‑center operator, triggering a blowout earnings report. The news sent the stock soaring nearly 20% on the day of the announcement. The following morning the shares reversed, slipping about 6% in early trading.
- ▪Modine Manufacturing signed a long‑term deal to provide up to $4 billion of cooling equipment for a data‑center operator.
- ▪The stock jumped almost 20% after the earnings release and deal announcement.
- ▪The next day the shares fell roughly 6% in early trading.
Opening excerpt (first ~120 words) tap to expand
News Data Center Play Modine Manufacturing Reverses After Soaring On Earnings Licensing PAOLO CONFINO Updated 12:23 PM ET 05/27/2026 The hot data center stock Modine Manufacturing (MOD) set up to extend its rebound on Wednesday after a blowout earnings report. A day earlier the stock soared almost 20% after reporting a long-term agreement to provide an unidentified data center operator with up to $4 billion of cooling equipment. Shares reversed course on Wednesday, falling about 6% in the early……
Excerpt limited to ~120 words for fair-use compliance. The full article is at Investor's Business Daily.
Discussion
0 commentsMore from Investor's Business Daily
