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Wire

Simply Good Foods' Fiscal Q3 EPS Beat Driven by Surprise Topline Growth, UBS Says

Simply Good Foods' (SMPL) fiscal Q3 EPS beat was driven by surprise topline growth and lower general and administrative costs, UBS said in a Thursday research report.The brokerage said it now expects fiscal Q4 EPS of $0.42 from $0.41 earlier. It also boosted its fiscal 2026 and 2027 EPS guidance to $1.67 and $1.63, respectively, from $1.58 and $1.59 earlier.The company also boosted its sales outlook, but earnings before interest, taxes, depreciation and amortization was largely unchanged, which implies a lower-than-expected Q4 exit rate amid ongoing input cost pressures and weaker takeaway trends, according to the note.Simply Good Foods' return to growth will likely take some time, but investors are beginning to think that the worst phase could be over as the company takes appropriate measures to improve underlying business fundamentals, analysts wrote.Despite elevated inflation and predictions that selling and marketing costs will trend higher, these headwinds are likely to be mostly offset by pricing actions and administrative savings, according to UBS.The brokerage said it reiterated its neutral rating on the stock and boosted its price target to $15 per share from $12.Price: $12.17, Change: $-0.85, Percent Change: -6.50%

$SMPL
Update: US Equities Rise, Oil Prices Fall as Traders Look Past Middle East Tensions
US Markets

Update: US Equities Rise, Oil Prices Fall as Traders Look Past Middle East Tensions

(Updates with market moves at the end of the day.)Wall Street's equity benchmarks rose Thursday and oil prices pulled back, apparently shrugging off concerns over renewed tensions in the Middle East.The tech-heavy Nasdaq closed 1.3% higher at 26,206.9, rising for the second consecutive day. The S&P 500 gained 0.8% to 7,543.6 and the Dow Jones Industrial Average edged up 0.3% to 52,487.4, both rebounding following a two-day decline.Among sectors, tech led gainers with a 1.7% advance, while consumer staples saw the steepest decline.Micron Technology's shares (MU) jumped 4.5%. The company announced an increase in its planned US investment to more than $250 billion through 2035 and outlined intentions to invest up to $3 billion to bolster domestic semiconductor supply chain.Other chip-related stocks also moved higher, including Advanced Micro Devices (AMD), ON Semiconductor (ON), Marvell Technology (MRVL), Applied Materials (AMAT), and Intel (INTC).West Texas Intermediate crude oil was down 2.2% at $71.87 per barrel in Thursday late-afternoon trade, while Brent dropped 2.5% to $76.05.Iran's Islamic Revolutionary Guard Corps said it fired 10 ballistic missiles at a US base in Jordan Thursday in retaliation to Washington's aggression, CNN reported.The US Central Command said its forces hit Iran for the second day in a row on Wednesday after Tehran attacked three tankers that crossed the Strait of Hormuz.US President Donald Trump said Wednesday he was no longer interested in negotiating with Iran, saying he believed the recent memorandum of understanding signed between the two countries was over.The renewed tensions between the two sides could be "relatively short-lived" given constraints faced by both countries, according to Macquarie Group."The US is constrained by the risk that higher oil prices could return with fewer mitigation sources available as time goes on and the risk that Iran could materially damage (Middle East) oil infrastructure," Vikas Dwivedi, global energy strategist at Macquarie, said in a report e-mailed to. "Likewise, Iran has come through the negotiations with (arguably) a great deal. We would be surprised if they overplay a good hand and test (President) Trump's patience and restraint for minimal remaining gain."US Treasury yields were lower, with the two-year rate down 2.9 basis points at 4.17% and the 10-year rate falling 2.2 basis points to 4.55%.PepsiCo (PEP) reported fiscal second-quarter results above Wall Street's estimates on Thursday, although soft consumer spending in the US weighed on its North American performance. The stock slid 3.3%.Simply Good Foods (SMPL) lifted its full-year sales outlook as the nutritional snacking company recorded better-than-expected fiscal third-quarter results. The stock gained 1.3%.In economic news, applications for unemployment insurance in the US unexpectedly declined last week as labor market conditions appeared to hold steady, government data showed Thursday.Existing home sales in the US unexpectedly decreased in June as the median price reached an all-time high, data from the National Association of Realtors showed.Gold was up 1.2% at $4,131.80 per troy ounce, while silver gained 3% to $60.32 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMAT$AMD$INTC$MRVL$MU$ON$PEP$SMPL
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 1.2%.In sector news, the US Senate Commerce Committee is set to vote July 15 on a bipartisan legislation that tightens the ban on China-made vehicles' sale in the country, Reuters reported. The legislation proposes to codify a rule imposed by the Biden administration to ban Chinese companies from selling passenger vehicles in the US, the report said.In corporate news, Paramount's (PSKY) $110 billion acquisition of Warner Bros. Discovery (WBD) may face lawsuits from US states to block the deal as soon as next week, Reuters reported. Paramount shares fell 4%.Levi Strauss (LEVI) shares declined 2% after the company's new full-year earnings outlook fell short of Wall Street's estimates even as its fiscal Q2 results topped views.PepsiCo (PEP) reported fiscal Q2 results above Wall Street's estimates on Thursday, although soft consumer spending in the US weighed on its North American performance. Its shares were down 3.6%.Simply Good Foods (SMPL) lifted its full-year sales outlook on Thursday as it recorded better-than-expected fiscal Q3 results. Its shares rose 2.7%.

$LEVI$PEP$PSKY$SMPL
Update: US Equities Rise Intraday in Tech-Led Advance as Oil Prices Ease
US Markets

Update: US Equities Rise Intraday in Tech-Led Advance as Oil Prices Ease

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday as the technology sector advanced led by chip-related stocks, while oil prices retreated.The Nasdaq Composite was up 1.2% at 26,172.9 after midday Thursday, while the S&P 500 rose 0.8% to 7,541.2. The Dow Jones Industrial Average added 0.3% to 52,508.8. Among sectors, tech paced the gainers, up 1.9%, while consumer staples saw the steepest decline.Micron Technology's shares (MU) were up 7.8% intraday, the third-top gainer on the S&P 500. The company said Thursday it plans to invest up to $3 billion in the US semiconductor supply chain.Other chipmakers also advanced, including ON Semiconductor (ON), Marvell Technology (MRVL), Advanced Micro Devices (AMD), and Intel (INTC).West Texas Intermediate crude oil was down 2.2% at $71.94 per barrel intraday, while Brent dropped 2.4% to $76.16.The US launched fresh strikes Thursday on Iran, CNN reported, citing Iran's state news agency, IRNA.The US Central Command said Wednesday its forces completed another round of strikes against Iran, having struck Tehran earlier in the week after it attacked three tankers that crossed the Strait of Hormuz.US President Donald Trump said Wednesday he was no longer interested in negotiating with Iran, saying he believed the recent memorandum of understanding signed between the two countries to end their war was over.The renewed tensions between the US and Iran could be "relatively short-lived" given constraints faced by both countries, according to Macquarie Group."The US is constrained by the risk that higher oil prices could return with fewer mitigation sources available as time goes on and the risk that Iran could materially damage (Middle East) oil infrastructure," Vikas Dwivedi, global energy strategist at Macquarie, said in a report e-mailed to. "Likewise, Iran has come through the negotiations with (arguably) a great deal. We would be surprised if they overplay a good hand and test (President) Trump's patience and restraint for minimal remaining gain."US Treasury yields were lower intraday, with the two-year rate down 3.5 basis points at 4.17% and the 10-year rate falling 2.8 basis points to 4.54%.PepsiCo (PEP) reported fiscal second-quarter results above Wall Street's estimates on Thursday, although soft consumer spending in the US weighed on its North American performance. The stock was down 2.9% intraday.Simply Good Foods (SMPL) lifted its full-year sales outlook as the nutritional snacking company recorded better-than-expected fiscal third-quarter results. The stock was up 3.2%.In economic news, applications for unemployment insurance in the US unexpectedly declined last week as labor market conditions appeared to hold steady, government data showed Thursday.Existing home sales in the US unexpectedly decreased in June as the median price reached an all-time high, data from the National Association of Realtors showed.Gold was up 1.5% at $4,142.70 per troy ounce, while silver gained 4% to $60.91 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$INTC$MRVL$MU$ON$PEP$SMPL
Sectors

Sector Update: Consumer Stocks Mixed Thursday Afternoon

Consumer stocks were mixed Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.8%.In corporate news, Paramount's (PSKY) $110 billion acquisition of Warner Bros. Discovery (WBD) may face lawsuits from US states to block the deal as soon as next week, Reuters reported. Paramount shares fell 4.1%.PepsiCo (PEP) reported fiscal Q2 results above Wall Street's estimates on Thursday, although soft consumer spending in the US weighed on its North American performance. Its shares were down 2.9%.Simply Good Foods (SMPL) lifted its full-year sales outlook on Thursday as it recorded better-than-expected fiscal Q3 results. Its shares rose 1.9%.

$PEP$PSKY$SMPL
Simply Good Foods Raises Full-Year Sales Outlook Following Third-Quarter Beat
US Markets

Simply Good Foods Raises Full-Year Sales Outlook Following Third-Quarter Beat

Simply Good Foods (SMPL) lifted its full-year sales outlook on Thursday as the nutritional snacking company recorded better-than-expected fiscal third-quarter results.The company now anticipates sales between $1.345 billion and $1.355 billion for fiscal 2026, up from its prior guidance of $1.31 billion to $1.35 billion. The current consensus on FactSet is for $1.34 billion.For the quarter ended May 30, Simply Good Foods' sales declined 6.3% year on year to $357 million, but came in ahead of the Street's view for $333 million. The topline decrease was driven by a nearly 25% drop in the Atkins brand amid distribution-related weakness, partially offset by gains in Quest and OWYN.Simply Good Foods markets protein bars, ready-to-drink shakes and confectionery products under the Quest, Atkins, and OWYN brands.Adjusted earnings fell to $0.42 per share from $0.51 in the year-ago period, but topped the average analyst estimate of $0.36."Our third-quarter results reflect initial steps against the turnaround priorities we outlined last quarter," Chief Executive Joe Scalzo said in a statement. "While we are still in the early stages of this work, we are beginning to see some signs of improved alignment around our three key priorities."In April, the company announced a cost-cutting plan that included the reduction of its workforce by 15%. At the time, the group said it expected the plan to generate $17 million in annual savings.Simply Good Foods is raising prices to offset cost pressures across proteins and packaging, among other categories, Scalzo said during an earnings call, according to a FactSet transcript."While we remain focused on productivity initiatives and cost reduction efforts, rebuilding margins requires decisive action on pricing and we believe this increase is appropriate," the CEO told analysts.The company expects sales between $322 million and $332 million for the ongoing three-month period, reflecting an annual decline of 10% to 13%. The Street is looking for $335.5 million.Price: $13.51, Change: $+0.67, Percent Change: +5.18%

$SMPL
Sectors

Sector Update: Consumer Stocks Lean Lower Premarket Thursday

Consumer stocks were leaning lower premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining by 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.2%.PepsiCo (PEP) stock was down more than 2% even after the company posted higher fiscal Q2 core earnings and net revenue.Simply Good Foods (SMPL) shares were up more than 17% after the company raised its fiscal 2026 net sales outlook.Buckle (BKE) reported that its net sales for the 5-week fiscal month ended July 4 grew 5.2% year on year to $112 million. Buckle shares were up more than 3% pre-bell.

$BKE$PEP$SMPL$XLP$XLY
Equity Futures Mostly Rise as Markets Assess Renewed Middle East Tensions
US Markets

Equity Futures Mostly Rise as Markets Assess Renewed Middle East Tensions

US equity markets were mostly pointing higher before the opening bell Thursday as traders weighed rising tensions between Washington and Iran.S&P 500 futures ticked up 0.1% and the Nasdaq rose 0.6% in premarket activity, while the Dow Jones Industrial Average edged down 0.2%. The Dow finished Wednesday trading with its sharpest single-day decline in four weeks. The S&P also closed lower, while the Nasdaq was up.The US Central Command said Wednesday its forces completed another round of strikes against Iran to "further degrade" its ability to attack commercial shipping through the Strait of Hormuz. The US struck Iran earlier in the week after Tehran attacked three tankers that crossed the crucial waterway.US President Donald Trump said Wednesday he was no longer interested in negotiating with Iran, saying he believed the recent memorandum of understanding signed between the two countries to end their war was over.West Texas Intermediate crude oil nudged 0.4% higher to $73.80 a barrel before the open Thursday, while Brent gained 0.5% to $78.41."The latest escalation in US-Iran military tensions this week raises new risks," ING Bank said in a report. "Vessels transiting the Strait of Hormuz remain well below pre-war levels, (and) recent developments show that safe passage of vessels is still an issue facing the market."On Wednesday, minutes from the Federal Reserve's June policy meeting showed that central bank officials held diverging views on the appropriate path of interest rates. At that meeting, the Federal Open Market Committee unanimously decided to maintain the policy rate steady for the fourth consecutive time.US Treasury yields were higher in premarket action Thursday, with the 10-year rate increasing 1.8 basis points to 4.59% and the two-year rate rising one basis point to 4.20%.Thursday's economic calendar has the weekly jobless claims bulletin at 8:30 am ET, followed by the existing home sales report for June at 10 am. New York Fed President John Williams is scheduled to speak at 9 am.Shares of Broadcom (AVGO) added 1.6% pre-bell after closing Wednesday with a 4.8% rise, as Apple (AAPL) confirmed the semiconductor manufacturer will produce chips to be used in the iPhone maker' products in a deal likely worth more than $30 billion.Nvidia (NVDA) inclined 0.1%, while Arista Networks (ANET) advanced 1.3%.PepsiCo (PEP) declined 1.3%, as the beverage and snacking giant reported its latest quarterly results early Thursday. Simply Good Foods (SMPL) also posts its earnings pre-bell, while WD-40 (WDFC) is slated to announce its results after the markets close.Gold rose 0.8% to $4,114 per troy ounce, while bitcoin traded up 1% at $62,784.

Dow JonesNasdaq CompositeS&P 500$AAPL$ANET$AVGO$NVDA$PEP$SMPL$WDFC
Packaged Food Companies Face 'Tough' Setup Amid Weak Demand, Growing Costs, UBS Says
US Markets

Packaged Food Companies Face 'Tough' Setup Amid Weak Demand, Growing Costs, UBS Says

US packaged food companies' upcoming quarterly results are likely to highlight a "tough" setup for the industry amid weaker demand and increasing costs, UBS Securities said in a note e-mailed Tuesday.The brokerage flagged downside potential to Wall Street's projections for the back half of the year and beyond given mounting cost pressures. The industry at the same time is facing structural changes "that could materially shift the growth trajectory for some time," UBS analysts Peter Grom and Sona Fernandes said in the note to clients.Campbell's (CPB), J.M. Smucker (SJM), General Mills (GIS), Conagra Brands (CAG), Simply Good Foods (SMPL), and McCormick (MKC) comprise the brokerage's packaged food coverage. The companies are expected to report results over the coming weeks."As has been the case for some time, we expect top-line trends to remain under pressure for most (of the names), and when layering in cost pressures that have ratcheted higher, we see downside risk to Street numbers looking out to the back half of the year and beyond," Grom and Fernandes said.Campbell's faces a "negative" setup ahead of its results amid "demand trends (that are) yet to show meaningful improvement and cost pressures that could drive out year estimates lower," the analysts wrote.UBS sees an "unfavorable setup" for General Mills ahead of its results. "We believe (fiscal 2027) guidance will fall short of expectations driven by top-line growth that remains underwhelming, cost pressures that will likely offset benefits from (corporate strategy) savings, and lapping unique items such as the 53rd week, incentive comp, and a divestiture," Grom and Fernandes said.For Conagra, the fundamental setup into its latest results continues to be "challenged, as top-line trends remain underwhelming," with cost pressures expected to lead to fiscal 2027 outlook falling short of the Street's views at the midpoint, according to the note.Simply Good Foods' "demand trends remain under pressure and cost pressures remain elevated making it difficult to step in," Grom and Fernandes said.UBS sees J.M. Smucker and, to some extent, McCormick as "partial exceptions" in its downbeat industry outlook.J.M. Smucker "remains one of the few companies across our packaged food coverage where we see a path to organic sales growth and strong bottom-line delivery" looking out over the next 12 to 18 months, the analysts said. McCormick's fundamentals "remain better than most, but the company is also not immune to moderating category trends and cost pressures," according to Grom and Fernandes."In many ways, we think growth algorithms for the group could be permanently impaired, and when comparing valuation to other industries that have structural top-line concerns, we think there in fact could be room for further multiple compression," the analysts wrote.Price: $21.12, Change: $+0.04, Percent Change: +0.19%

$CAG$CPB$GIS$MKC$SJM$SMPL
Insider Trading

Simply Good Foods Insider Bought Shares Worth $991,480, According to a Recent SEC Filing

James M Kilts, Director, on April 23, 2026, executed a purchase for 80,000 shares in Simply Good Foods (SMPL) for $991,480. Following the Form 4 filing with the SEC, Kilts has control over a total of 3,783,524 shares of the company, with 172,854 shares held directly and 3,610,670 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1702744/000102509426000004/xslF345X05/wk-form4_1777036957.xmlPrice: $12.71, Change: $+0.29, Percent Change: +2.29%

$SMPL
Sectors

Sector Update: Consumer Stocks Rise Premarket Tuesday

Consumer stocks were rising premarket Tuesday, with the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.9% higher and the State Street Consumer Staples Select Sector SPDR ETF (XLP) slightly advancing.D.R. Horton (DHI) stock was up more than 6% after the company reported fiscal Q2 net income and revenue that exceeded analysts' expectations.Amazon.com (AMZN) founder and Executive Chairman Jeff Bezos is nearing a $10 billion fundraising agreement from investors at a $38 billion valuation for his Project Prometheus, the Financial Times reported, citing unnamed people familiar with the matter. Amazon.com shares were up more than 2% pre-bell.Simply Good Foods (SMPL) said it plans to reduce staff by around 15% as part of a cost-cutting initiative. Shares of Simply Good Foods were 0.3% higher premarket.

$AMZN$DHI$SMPL$XLP$XLY
Sectors

Sector Update: Consumer Stocks Softer Late Afternoon

Consumer stocks were lower late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.1%.In sector news, US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, University of Michigan's preliminary survey showed Friday. The main sentiment index plunged about 11% to 47.6 in April from March. That's the lowest print on record, BMO Capital Markets said in a note. Wall Street expected a 51.5 print, according to Bloomberg's poll.In corporate news, Nike (NKE) Chief Innovation Officer Tony Bignell is leaving the company after less than a year on the job, The Wall Street Journal reported. Bignell will be succeeded by Andy Caine, Nike vice president and creative director for sportswear, effective Sunday, the report said. Nike shares fell 3.4%.Nexstar Media's (NXST) $6.2 billion merger with Tegna is facing fresh hurdles after a federal judge extended the restraining order on the deal by one week to April 17 to review whether a longer preliminary injunction is needed, the Associated Press reported Friday. Nexstar shares were up 2.8%.Simply Good Foods (SMPL) shares fell 11% after Stephens downgraded the company's rating to equal-weight from overweight and cut its price target to $14 from $24.CarMax (KMX) shares rose 2.3% after it said late Thursday it plans to add William Cobb and James Kessler to its board following "constructive engagement" with activist investor Starboard Value.

$KMX$NKE$NXST$SMPL
Wire

Simply Good Foods Shares Fall After Stephens Downgrade

Simply Good Foods (SMPL) shares fell 11% on Friday after Stephens downgraded the stock to equalweight from overweight and cut its price target to $14 per share from $24.Both UBS and Deutsche Bank reduced their price targets to $13 from $16 following its Q2 results.Trading volume stood at over 5.6 million shares compared with a daily average of more than 2.4 million.Price: $10.51, Change: $-1.29, Percent Change: -10.93%

$SMPL
Sectors

Sector Update: Consumer Stocks Decline in Afternoon Trading

Consumer stocks were lower Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.2%.In sector news, US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, University of Michigan's preliminary survey showed Friday. The main sentiment index plunged about 11% to 47.6 in April from March. That's the lowest print on record, BMO Capital Markets said in a note. Wall Street expected a 51.5 print, according to Bloomberg's poll.In corporate news, Tesla (TSLA) Chief Executive Elon Musk's xAI has filed a lawsuit against the State of Colorado regarding a new AI bill aimed at protecting consumers from "algorithmic discrimination," according to court filings. Tesla shares were down 0.5%.Simply Good Foods (SMPL) shares fell 10% after Stephens downgraded the company's rating to equal-weight from overweight and cut its price target to $14 from $24.CarMax (KMX) shares rose 1.7% after it said late Thursday it plans to add William Cobb and James Kessler to its board following "constructive engagement" with activist investor Starboard Value.

$KMX$SMPL$TSLA
Research

Stephens Downgrades Simply Good Foods to Equalweight From Overweight, Adjusts Price Target to $14 From $24

Simply Good Foods (SMPL) has an average rating of overweight and mean price target of $19.50, 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)

$SMPL
Asia Markets

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Thursday as Fragile Middle East Ceasefire Lifts Oil Prices

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% lower in Thursday's premarket activity as doubts over the durability of a Middle East ceasefire lift oil prices.US stock futures were also lower, with S&P 500 Index futures down 0.4%, Dow Jones Industrial Average futures slipping 0.5%, and Nasdaq futures retreating 0.4% before the start of regular trading.US initial jobless claims rose to a level of 219,000 in the week ended April 4 from an upwardly revised 203,000 level in the previous week, compared with expectations for a smaller increase to 210,000 in survey of analysts compiled by Bloomberg.Personal income declined 0.1% in February following January's 0.4% gain, compared with the expected 0.3% gain in a survey conducted by Bloomberg as of 7:35 am ET.US economic growth, measured by gross domestic product, was revised lower to a 0.5% increase in Q4 from a 0.7% gain in the second estimate, compared with estimates for no revision in a survey compiled by Bloomberg as of 7:35 am ET.Wholesale inventory data for February are due to be released at 10 am ET, followed by weekly natural gas stocks data at 10:30 am ET.In premarket activity, bitcoin was down by 0.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower, Ether ETF (EETH) fell 1.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) retreated marginally by 0.01%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.01% higher, and the iShares US Consumer Staples ETF (IYK) was up 0.5%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 1.3% lower.Simply Good Foods (SMPL) shares were down more than 19% pre-bell after the company posted lower fiscal Q2 adjusted earnings and net sales.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.6%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.7%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.9% higher.Whitestone REIT (WSR) shares were up more than 11% pre-bell after the company said it has agreed to be acquired by Ares Management (ARES) for $19 per common share or operating partnership unit in an all-cash deal valued at about $1.70 billion. Ares stock was 1.5% higher.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.2%, and the iShares US Technology ETF (IYW) was 0.1% higher, while the iShares Expanded Tech Sector ETF (IGM) was down 0.1%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was inactive, while the iShares Semiconductor ETF (SOXX) declined by 0.3%.Aehr Test Systems (AEHR) shares were down more than 2% in premarket activity, a day after the company said it plans to sell up to $60 million of its common shares via an at-the-market offering.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.1%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was 0.7% lower.Novartis (NVS) stock was down more than 1% premarket after closing the prior session with a 2% gain. The company said Thursday it will expand its programs to find and treat patients with heart disease and cancer in "hard-to-reach" communities worldwide.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) declined by 0.7%, while the Vanguard Industrials Index Fund (VIS) gained 0.4% and the iShares US Industrials ETF (IYJ) was down 0.8%.American Airlines Group (AAL) stock was down more than 1% before the opening bell, a day after the Federal Aviation Administration said the airline should pay a $255,000 civil penalty for allegedly breaching drug and alcohol regulations.EnergyThe iShares US Energy ETF (IYE) was up 0.2%, while the State Street Energy Select Sector SPDR ETF (XLE) advanced by 0.5%.Occidental Petroleum (OXY) stock was up more than 1% before Thursday's opening bell after the company said it had discovered oil at the Bandit prospect, co-owned by Chevron (CVX) and Woodside Energy (WDS), in the Gulf of Mexico. Chevron stock was 0.8% higher, while Woodside advanced 0.5%.CommoditiesFront-month US West Texas Intermediate crude oil rose by 4.4% to $98.57 per barrel on the New York Mercantile Exchange. Natural gas retreated by 0.2% to $2.72 per 1 million British Thermal Units. The United States Oil Fund (USO) was up by 2%, while the United States Natural Gas Fund (UNG) was 0.3% lower.Gold futures for May were up by 0.1% at $4,781.00 an ounce on the Comex. Silver futures declined by 1% to $74.60 an ounce. SPDR Gold Shares (GLD) was 0.4% higher, and the iShares Silver Trust (SLV) advanced by 0.03%.

Dow JonesNasdaq CompositeS&P 500$AAL$AEHR$ARES$BETH$BITO$CVX$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVS$OXY$PMR$QQQ$RTH$SLV$SMPL$SOXX$SPY$UNG$USO$VDC$VHT$VIS$WDS$WSR$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
US Markets

Stocks Decline Pre-Bell Amid Uncertainty Over US-Iran Truce; Key Inflation Report on Deck

US equity markets were trending lower before the opening bell Thursday as investors assess uncertainty over the recent two-week ceasefire deal between the US and Iran, and await a key inflation report.The S&P 500 and the Dow Jones Industrial Average declined 0.3% each in premarket activity, while the Nasdaq was off 0.2%. The indexes finished Wednesday's trading in the green, recording their highest close in at least four weeks.In a Wednesday post on X, Iran's parliamentary speaker, Mohammad Bagher Ghalibaf, said the US violated three clauses of Tehran's 10-point ceasefire proposal. The violations include Israel's attacks on Lebanon, the entry of a drone into Iranian airspace and the denial of Tehran's right to enrich uranium, according to Ghalibaf."The deep historical distrust we hold toward the (US) stems from its repeated violations of all forms of commitments - a pattern that has regrettably been repeated once again," Ghalibaf said. "In such situation, a bilateral ceasefire or negotiations is unreasonable."In a late Wednesday post on Truth Social, President Donald Trump said US ships, aircraft and military personnel will "remain in and around Iran" until the "real agreement reached is fully complied with.""It was agreed, a long time ago, and despite all of the fake rhetoric to the contrary - no nuclear weapons and, the Strait of Hormuz will be open and safe," according to Trump.On Tuesday, Trump announced that he agreed to suspend attacks on Iran for a period of two weeks, subject to Tehran agreeing to the complete and safe opening of the strait, the world's most important chokepoint for crude flows. Iranian Foreign Minister Seyed Abbas Araghchi had said in a statement that the country will allow "safe passage" through the strait during the two-week ceasefire through coordination with its armed forces and "with due consideration of technical limitations."Delegations from both countries are scheduled to meet in Islamabad, Pakistan on Friday to negotiate a "conclusive agreement to settle all disputes," Pakistani Prime Minister Shehbaz Sharif said Tuesday.West Texas Intermediate crude oil rose 3.5% to $97.70 a barrel before the open, while Brent increased 3.3% to $97.87."The headlines may calm down first, but the real reset depends on what happens in the days ahead," Charu Chanana, chief investment strategist at Saxo Bank, said in a report Wednesday.The delayed personal income and outlays report for February is scheduled to be released at 8:30 am ET. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric.Minutes from the Federal Reserve's March meeting showed Wednesday that participants emphasized the need for the central bank to be "nimble" in adjusting monetary policy amid heightened macro risks. Most policymakers were concerned that a prolonged war could soften labor market conditions, possibly warranting policy easing, according to the minutes. However, persistent inflation amid higher oil prices could call for rate increases.Markets widely expect the Fed to keep its benchmark lending rate steady at its next policy meeting later in April, according to the CME FedWatch tool.Treasury yields were down in premarket action, with the two-year rate retreating 0.5 basis points to 3.79% and the 10-year rate off 0.4 basis points to 4.29%.Thursday's economic calendar also has the delayed final estimate report for the fourth-quarter gross domestic product at 8:30 am, as well as the weekly jobless claims report.Shares of Constellation Brands (STZ) declined 0.9% pre-bell after the beer and wine company issued a full-year earnings outlook below Wall Street's estimates.Neogen (NEOG), BlackBerry (BB) and Simply Good Foods (SMPL) report their latest financial results before the bell, among others. WD-40 (WDFC) posts its earnings after the markets close.Gold sipped 0.5% to $4,752 per troy ounce, while bitcoin nudged up 0.2% to $71,399.

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