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4 stories mentioning DYUpdated 22d ago

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Update: Dycom Shares Rise After Q1 Beat

(Updates with the latest stock movement in the headline and the first paragraph.)Dycom Industries (DY) shares were up more than 28% in Wednesday trading after the company reported fiscal Q1 adjusted earnings and contract revenue above market expectations.The company reported fiscal Q1 adjusted net income Wednesday of $4.42 per diluted share, up from $2.39 a year earlier.Analysts polled by FactSet expected $2.72.Contact revenue for the fiscal quarter ended May 2 was $1.96 billion, up from $1.26 billion a year earlier.Analysts surveyed by FactSet expected $1.67 billion.For fiscal 2027, the company increased its contract revenue guidance to between $7.38 billion and $7.65 billion, up from its previous $6.85 billion to $7.15 billion. Analysts polled by FactSet expect $7.07 billion.Price: $539.10, Change: $+118.63, Percent Change: +28.21%

$DY
Wire

Top Midday Gainers

Astrotech (ASTC) shares soared 511% amid heavy trading after the company's board approved an initiative aimed at evaluating emerging opportunities associated with Moon-based quantum computing manufacturing.More than 113.6 million shares of the company traded intraday compared with a daily average of about 2.12 million.Q32 Bio (QTTB) said Wednesday it agreed to raise about $55 million through a private placement with institutional and accredited investors.Shares soared 70% amid a surge in intraday trading volume to over 18.0 million from a daily average of roughly 322,000.Dycom Industries (DY) reported fiscal Q1 adjusted net income and contract revenue above market expectations on Wednesday. It also increased the fiscal 2027 guidance for contract sales, beating consensus.Shares advanced 31% as intraday trading volume rose to over 861,000 from a daily average of about 439,000.Price: $547.30, Change: $+126.83, Percent Change: +30.16%

$ASTC$DY$QTTB
Wire

Top Midday Stories: White House Refutes Iran Report of Interim Peace Deal; Zscaler Shares Plunge After Fiscal Q4 Revenue Guidance Misses Estimates

The Dow Jones Industrial Average was up, while the S&P 500 and Nasdaq Composite were about flat in late-morning trading Wednesday after Iranian state media reported that an unofficial draft of a US-Iran interim peace deal says that maritime traffic through the Strait of Hormuz would return to normal within a month of the agreement being finalized. Later, the White House said the report of an interim peace deal was a "complete fabrication" and "not true."In company news, Zscaler (ZS) reported fiscal Q3 adjusted earnings late Tuesday of $1.08 per diluted share, up from $0.84 a year earlier and above the FactSet consensus analyst estimate of $1.01. Fiscal Q3 revenue was $850.5 million, up from $678 million a year ago and above the FactSet consensus of $835.6 million. For fiscal Q4, the company said it expects adjusted EPS of $1.08 to $1.09, above the FactSet consensus of $1.03. Fiscal Q4 revenue is expected to be between $875 million and $878 million, below the FactSet consensus of $878.6 million. For full-year 2026, the company said it expects adjusted EPS of $4.10 to $4.11, up from its previous guidance of $3.99 to $4.02 and above the FactSet consensus of $4.01. Full-year revenue is expected to be between $3.329 billion and $3.332 billion, above its previous guidance of $3.31 billion to $3.32 billion and above the FactSet consensus of $3.32 billion. Zscaler shares were down 31.6% around midday.Boston Scientific (BSX) Chief Executive Mike Mahoney mentioned possible short-term challenges facing the company during a presentation Wednesday at an industry conference. Mahoney said Boston Scientific is "not going to likely grow faster than our peer group in the short term, but as that Denali platform gets launched in our emblem with [subcutaneous implantable cardioverter defibrillator] leadless pacemaker, that will help our growth in our [cardiac rhythm management] business," according to the report. Boston Scientific shares were down 9.8%.PDD Holdings (PDD) reported Q1 non-GAAP earnings Wednesday of 9.51 Chinese renminbi ($1.38) per diluted American depositary share, down from 11.41 renminbi a year earlier and below the FactSet consensus of 16.56 renminbi. First-quarter revenue was 106.23 billion renminbi, up from 95.67 billion renminbi a year ago but below the FactSet consensus of 109.82 billion renminbi. PDD shares were down 11.0%.JPMorgan Chase (JPM) CEO Jamie Dimon said Wednesday at a conference that "there might be in the next couple of years a chance to put $10 billion or $20 billion to work buying" another company, according to a transcript. JPMorgan shares were down 3.0%.Dycom Industries (DY) reported fiscal Q1 adjusted net income Wednesday of $4.42 per diluted share, up from $2.39 a year earlier and above the FactSet consensus of $2.72. Fiscal Q1 contact revenue was $1.96 billion, up from $1.26 billion a year ago and above the FactSet consensus of $1.67 billion. For fiscal 2027, the company said it expects revenue of $7.38 billion to $7.65 billion, up from its previous guidance of $6.85 billion to $7.15 billion and above the FactSet consensus of $7.07 billion. Dycom shares were up 28.1%.Price: $126.28, Change: $-58.33, Percent Change: -31.60%

$BSX$DY$JPM$PDD$ZS
Stocks Rise Pre-Bell Amid Tech Rally; Middle East Uncertainty Persists
US Markets

Stocks Rise Pre-Bell Amid Tech Rally; Middle East Uncertainty Persists

US equity futures were trending higher on Wednesday amid tech-driven momentum from the previous trading session, while investors continue to monitor ongoing uncertainty in the Middle East.The S&P 500 rose 0.3%, the Dow Jones Industrial Average gained 0.5% and the Nasdaq added 0.4% in premarket activity. The Nasdaq and the S&P 500 finished Tuesday trading at new record peaks, while the Dow closed lower.Shares of Micron Technology (MU) advanced 5.7% pre-bell after finishing the prior session up 19%. The semiconductor manufacturer's market capitalization crossed the $1 trillion mark for the first time on Tuesday, with UBS Securities increasing its price target on the company's stock.Marvell (MRVL) rose 6% before the bell, while Seagate (STX) and Western Digital (WDC) gained 3.6% and 3.3%, respectively.Investors are also keeping an eye out for any updates on peace talks between the US and Iran. Tehran's Islamic Revolutionary Guard Corps reportedly said Tuesday that Iran has a "legitimate" right to respond to any violation of a ceasefire by the US.Earlier in the week, the US military targeted Iranian missile launch sites and boats around the crucial Strait of Hormuz, in what it described as "self-defense strikes," according to multiple media outlets. President Donald Trump said Monday that negotiations with Iran were "proceeding nicely.""While an extended conflict with Iran remains the largest risk to continued market gains, in our view, markets are positioned for more progress on peace talks and the Strait of Hormuz reopening," D.A. Davidson said in a report Tuesday.West Texas Intermediate crude oil declined 4% to $90.12 a barrel before the opening bell, while Brent fell 3.2% to $96.43.Treasury yields were down in premarket action, with the two-year rate retreating 2.9 basis points to 4.02% and the 10-year rate off 2.6 basis points to 4.47%.US consumer confidence fell in May amid mounting inflation concerns as the Middle East conflict has stretched for about three months now, a survey by the Conference Board showed Tuesday.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the Federal Reserve Bank of Richmond's manufacturing index for May at 10 am. The Atlanta Fed's survey of business uncertainty for this month is out at 11 am.Federal Reserve Governor Lisa Cook is scheduled to speak at 3:55 pm, while Fed Vice Chair Philip Jefferson speaks later at 8 pm.PDD (PDD), Dick's Sporting Goods (DKS), Dycom Industries (DY), Bath & Body Works (BBWI), Abercrombie & Fitch (ANF), Manchester United (MANU) and Capri (CPRI) report their latest financial results before the bell, among others. Marvell, Salesforce (CRM), Synopsys (SNPS), Snowflake (SNOW) and HP (HPQ) post their earnings after the markets close.Gold edged down 0.4% to $4,484 per troy ounce, while bitcoin was up slightly at $75,878.

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