$CASY

28 stories mentioning CASYUpdated 16d ago

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Stocks Fall Pre-Bell as US-Iran Tensions Escalate; Key Inflation Data on Deck

The main US stock measures were pointing lower in Wednesday's premarket activity as tensions escalate between the US and Iran, while traders await a key consumer inflation report.The S&P 500 and the Dow Jones Industrial Average declined 0.7% each before the opening bell, while the Nasdaq was off 1%. The S&P 500 and the Nasdaq finished Tuesday trading in the red, while the Dow closed higher.In a social media post early Wednesday, President Donald Trump said that the Iranian military has been "completely defeated.""They've taken too long to negotiate a deal that would have been great for them, now they will have to pay the price," Trump wrote.Iran launched strikes against several US military facilities and bases in Bahrain, Jordan and Kuwait early Wednesday, Bloomberg reported, citing Iranian media.In a Tuesday post on X, the US Central Command said its forces launched "self-defense" strikes against Iran in retaliation against Tehran for shooting down a US military helicopter.Trump said on social media that the two pilots on the helicopter were "safe and uninjured," and that the US would respond to the attack. Iran's Mehr news agency reported that several explosions were heard on Qeshm Island, in the Bandar Abbas region of southern Iran, as well as along the southern coast, according to Bloomberg News.West Texas Intermediate crude oil slipped 0.3% to $87.94 a barrel in premarket action, while Brent edged down 0.4% to $91.08."Cumulative losses have now reached 1 billion barrels and are on track to nearly double by year-end under our base case, which still assumes a narrow US-Iran deal in June and a phased reopening of the Strait of Hormuz from mid-July," Aditya Saraswat, Middle East and North Africa research director at Rystad, said in a Tuesday note.The consumer price index report for May is scheduled for an 8:30 am ET release. Official data are expected to show that consumer inflation rose 4.2% annually and 0.5% on a sequential basis, according to a Bloomberg-compiled consensus.Treasury yields were mixed before the open, with the two-year rate increasing 0.3 basis points to 4.13% while the 10-year rate retreated 0.4 basis points to 4.52%.Wednesday's economic calendar also has the weekly mortgage applications bulletin and the weekly EIA domestic petroleum inventories report.Shares of Super Micro Computer (SMCI) dropped 11% pre-bell after the company disclosed a $7 billion equity financing plan to support its artificial intelligence order backlog. Casey's General Stores (CASY) inclined 1.8% after reporting better-than-expected fiscal fourth-quarter results.Oracle (ORCL) is expected to report its latest financial results after the markets close, while Core & Main (CNM) and Chewy (CHWY) post earnings before the bell, among others.Gold decreased 2.2% to $4,194 per troy ounce, while bitcoin slipped 1% to $61,251.

Dow JonesNasdaq CompositeS&P 500$CASY$CHWY$CNM$ORCL$SMCI

US Markets50d ago

Casey's General Stores Fiscal Fourth-Quarter Results Top Street Views

Casey's General Stores (CASY) shares were up early Wednesday as the convenience store operator recorded better-than-expected fiscal fourth-quarter results.The company posted net income of $4.37 per share for the fiscal fourth quarter late Tuesday, up from $2.63 the year before, surpassing the FactSet-polled consensus of $3.31. Overall revenue improved to $4.57 billion from $3.99 billion, ahead of the Street's view for $4.33 billion.The stock increased 1.8% in the most recent premarket activity.Inside same-store sales climbed 5.5%, accelerating from a 1.7% gain in the prior-year quarter, buoyed by robust performance in whole pizzas, as well as appetizers and sides in the prepared food and dispensed beverage category, among other factors, according to Casey's. Grocery and general merchandise same-store sales rose 5.1%."Casey's delivered another record fiscal year as our team closed out the three-year strategic plan on an extremely high note," Chief Executive Darren Rebelez said in a statement. "The operations team performed exceptionally well over the course of the year as we reported substantial (earnings before interest, taxes, depreciation and amortization) growth."For fiscal 2027, Casey's anticipates inside same-store sales to grow between 2% and 5% with an inside margin above 42%. In the previous fiscal year, the metric inclined 4.2%, or 7% on a two-year stack basis, "led by strong performance in prepared foods and non-alcoholic beverages," according to Rebelez.EBITDA is projected to grow 8% to 10% for the current fiscal year. In fiscal 2026, the metric advanced by 24%.The company's inside store metrics outperformed peers, reflecting strong execution of strategies aimed at driving traffic and delivering value to consumers, RBC Capital Markets said in a note. The brokerage said the results highlight the company's advantaged positioning in lower-cost geographies and small markets, along with its differentiated in-store offering and increasingly strong fuel positioning.RBC increased its price target on the stock to $794 from $792.

$CASY

US Markets51d ago

Equities Rise Pre-Bell as Chip Stocks Extend Gains

US equity futures were tracking in the green on Tuesday amid continued momentum in artificial intelligence and semiconductor stocks.The S&P 500 rose 0.4%, the Dow Jones Industrial Average gained 0.3% and the Nasdaq added 0.8% in premarket activity. The S&P 500 and the Nasdaq finished Monday trading higher, while the Dow closed in the red for a second consecutive session.OpenAI said on Monday it has confidentially filed for a potential initial public offering in the US, after similar moves last week by AI firm Anthropic and rocket and satellite company SpaceX.OpenAI hasn't decided on the timing of the IPO yet, according to a blog post. "It may be a while because there are things we want to do that are likely easier as a private company," the tech firm added.Shares of Qualcomm (QCOM) increased 2.8% pre-bell, while Intel (INTC) inclined 2.2% after an 11% jump at the close of Monday. Micron Technology (MU) added 4.1% following a 9.9% increase in the previous session, while Nvidia (NVDA) was up 0.7%. Advanced Micro Devices (AMD) gained 2.5% before the bell after closing the previous session up 5.1%, while Broadcom (AVGO) increased 1.1%."In our view, volatility in technology stocks is likely to continue, although the (artificial intelligence) investment boom appears robust," D.A. Davidson said in a report on Monday. "We continue to expect a broadening of gains supporting sector diversification in portfolios."West Texas Intermediate crude oil declined 2.1% to $89.37 a barrel before the opening bell, while Brent moved down 1.6% to $92.73.Iran and Israel reportedly suspended strikes against each other, although Tehran vowed to resume attacks if Israel continues to target Iran-backed Hezbollah in Lebanon. In a social media post, President Donald Trump said both Israel and Iran were "looking to do an immediate ceasefire.""Overall, the situation remains fragile, and for the oil market, the status quo holds: global inventories continue to draw, with analysts increasingly convinced that inventories will reach dangerously low levels by the end of June (if not sooner)," Tudor Pickering Holt Analyst Matt Portillo said in a note.Treasury yields were mixed in premarket action, with the two-year rate retreating 1.1 basis points to 4.15% while the 10-year rate rose 0.6 basis points to 4.56%.Tuesday's economic calendar has the international trade in goods and services report for April at 8:30 am ET, followed by the existing home sales report for May at 10 am. The National Federation of Independent Business small business optimism index posted a 0.6-point decrease for May to 95.3.J.M. Smucker (SJM), SailPoint (SAIL), United Natural Foods (UNFI) and Academy Sports and Outdoors (ASO) report their latest financial results before the bell, among others. Casey's General Stores (CASY) posts earnings after the markets close.Gold slipped 0.1% to $4,359 per troy ounce, while bitcoin fell 1.1% to $62,725.

Dow JonesNasdaq CompositeS&P 500$ASO$CASY$INTC$MU$NVDA$QCOM$SAIL$SJM$UNFI

Research71d ago

William Blair Initiates Casey's General Stores at Outperform

Casey's General Stores (CASY) has an average rating of overweight and mean price target of $802.88, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$CASY

Commodities92d ago

Strong Fuel Margins Support C-Store Operators in Q1, RBC Capital Markets Says

Resilient fuel margins and steady consumer demand have supported convenience store or C-store operators, who are expected to post a solid Q1, RBC Capital Markets analysts said in a note on Monday.The firm maintained a positive outlook on the sector despite rising fuel prices, geopolitical tensions linked to the Iran conflict, and increasingly value-conscious consumer behavior."Relative strength in gas margins, long-term track record of demand stability, and sustained momentum from CQ4 [calendar quarter 4] continuing into CQ1 are supportive of our constructive view of the sector despite the backdrop of heightened geopolitical risk, elevated crude prices related to the Iran conflict, and ongoing value-oriented consumer spending," analysts said.Analysts said that historically, volatility in oil and fuel prices has presented an opportunity for more sophisticated operators to extend a premium over industry-average gas margins, with fuel margins improving consistently over the past decade."Despite recent spike in gas prices, retail pricing remains at/around 2023/2024 peaks, and well below peak levels immediately post Russia invasion of Ukraine," analysts said.Gas demand, however, continues to fall below pre-Covid levels, with analysts attributing crude price volatility post the Iran conflict to fuel incremental pressure on volumes."Fuel demand continues to track below pre-pandemic levels, reflecting structural shifts in lifestyle and commuting patterns, higher cost of living, and more recently, demand elasticity from geopolitical-driven spike in gas prices," analysts said.RBC forecasts Q1 US fuel margins of 45.75 cents per gallon for Alimentation Couche-Tard, a premium of about 8 cents/gal over the industry quarter-to-date average. Analysts said the forecast is above the high end of the range of prior premiums over the past eight quarters, which ranged from 3 cents/gal to 6 cents/gal, reflecting significant fuel price volatility amid the geopolitical backdrop.For Casey's (CASY), RBC forecasts margins of 39 cents/gal, while Murphy USA (MUSA) is expected to post retail and all-in margins of 24.5 cents/gal and 32.7 cents/gal, respectively.

$CASY$MUSA

Research93d ago

RBC Raises Price Target on Casey's General Stores to $792 From $713, Keeps Sector Perform Rating

Casey's General Stores (CASY) has an average rating of overweight and mean price target of $753 according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$CASY

Wire97d ago

KeyBanc Adjusts Price Target on Casey's General Stores to $860 From $830, Maintains Overweight Rating

Casey's General Stores (CASY) has an average rating of overweight and mean price target of $748.06, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $800.93, Change: $+11.10, Percent Change: +1.41%

$CASY

Wire98d ago

SoundHound AI Renews, Expands Casey's Deal for Voice AI Ordering

SoundHound AI (SOUN) said Thursday it renewed and expanded its agreement with Casey's General Stores (CASY), extending deployment of its voice-based ordering technology across more than 2,600 locations.Financial terms were not disclosed.The company said its AI-powered ordering agents have handled more than 21 million customer interactions for Casey's, including processing millions of food orders and will continue supporting phone-based ordering across the retailer's stores.The system, trained on Casey's menu, enables customers to place orders conversationally and access information on menu items, promotions, and store inquiries, while helping reduce missed calls and wait times during peak periods.Price: $7.95, Change: $-0.28, Percent Change: -3.35%

$CASY$SOUN

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