Prysmian expands in U.S. with $3.8bn Atkore deal - 3 Aug 2026

As of August 3, today’s news is dominated by Prysmian's significant acquisition strategy, focusing on expansion within the U.S. electrical market. The company has announced a 3.8 billion dollars deal to acquire U.S. electrical products maker Atkore, marking Prysmian's latest move to bolster its presence in North America and adapt to growing electrification and AI-driven infrastructure demands. The acquisition will enable Prysmian to offer a broader range of products, combining cables with installation components, thereby creating a more integrated supply solution for clients. During the analyst call, CEO Massimo Battaini indicated there are already plans for further acquisitions, reflecting Prysmian's robust growth strategy in the U.S. market. Turning to competitor news, Corning's stock faced significant pressures over the past month, dropping 46% in July amid investor concerns regarding its optical networking segment, which constitutes a major part of its revenue. Analysts, however, see potential for recovery, with Truist upgrading Corning to a Buy rating as market conditions stabilize. In the broader market context, JPMorgan Chase announced ambitious plans to invest 750 billion dollars into housing over the next decade, responding to the growing affordability crisis in the U.S. housing market. This commitment aims to facilitate the construction and preservation of affordable housing units and enhance homeownership among consumers. On the energy front, Shell has commenced divesting its European onshore renewables unit to TotalEnergies, part of a strategic refocus on oil and gas operations. This deal includes various renewable assets and is indicative of a trend among major oil companies to prioritize more stable returns amid fluctuating renewable energy markets. Lastly, geopolitical tensions persisted as Iran refuted claims made by U.S. President Donald Trump regarding potential negotiations, asserting no talks were underway between the two nations. This reflects ongoing complexities in international relations that could influence broader economic scenarios.