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Electrovaya (ELVA) said Wednesday it is partnering with Amazon (AMZN) to deploy its infinity battery technology in Amazon's material handling operations.

Shares surged 51% as intraday trading volume catapulted to over 26 million from a daily average of about 413,000.

Aehr Test Systems (AEHR) reported late Tuesday it swung to fiscal Q4 earnings from a loss a year earlier, while revenue also increased.

Shares soared 27% amid a jump in intraday trading volume to over 10.5 million from a daily average of roughly 2.5 million.

Payments firm Stripe and Advent International have offered to acquire PayPal (PYPL) for $60.50 per share in a deal that would value the company at more than $53 billion, Reuters reported, citing two unnamed people familiar with the matter.

Shares of PayPal jumped 16% as intraday trading volume soared to over 66.0 million from a daily average of about 15.3 million.

Price: $11.75, Change: $+3.86, Percent Change: +48.94%

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Rio Tinto Group (ASX:RIO) reported second quarter production exceeding expectations for Pilbara iron ore production and shipments, while performance across its other major operating assets was also broadly in line with market forecasts, according to a Wednesday Jefferies note.The investment firm added that the company has reduced unit cost guidance in copper to $0.30 to $0.50 per pound from $0.65 to $0.75 per pound due to higher gold prices and operational improvement initiatives."While mostly an uneventful report from Rio, the [quarter-on-quarter] rebound in volumes at certain assets in 2Q is encouraging," the investment firm said.Jefferies kept a hold rating on Rio Tinto with a price target of AU$187.The company's shares rose past 1% in recent Wednesday trade.

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Copa Holdings Reports Higher June Passenger Capacity, Traffic

Copa Holdings (CPA) said its preliminary June passenger capacity, measured as available seat miles, increased 16% from a year earlier.Passenger traffic, measured as revenue passenger miles, rose 13%, the company said Tuesday in a statement.Copa shares gained 3.1% in after-hours trading.

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Phoenix Education Partners Fiscal Q3 Adjusted Earnings Fall, Revenue Rises; Shares Drop After Hours

Phoenix Education Partners (PXED) reported fiscal Q3 adjusted earnings late Tuesday of $1.43 per diluted share, down from $1.57 a year earlier.Analysts polled by FactSet expected $1.32.Revenue in the three months ended May 31 rose to $271.8 million from $271.7 million a year earlier. Analysts expected $271.2 million.Phoenix expects full-year net revenue of $1.02 billion to $1.025 billion. Analysts expect $1.026 billion.The company's shares fell 11% in after-hours trading.

$PXED