Cal-Maine Foods Inc

Cal-Maine Foods stock fell 3.7% after the company reported a fourth-quarter loss of $0.76 per share, missing analyst estimates of a $0.11 per share profit. Quarterly sales came in at $552.6 million, well below the forecasted $657 million, as wholesale egg prices dropped 71% year over year due to industry oversupply. For the full fiscal year, revenue declined 32% and profit fell 73%, though the company still earned $6.63 per share. Management noted that egg prices have rebounded by more than 90% in recent weeks, which could support a recovery in the coming quarters.

Super Micro Computer shares surged about 17% in premarket trading after the server maker reported preliminary fourth-quarter results with much stronger profitability than expected, offsetting revenue near the low end of guidance. The positive sentiment spilled over to server peers Dell Technologies and Hewlett Packard Enterprise, both up more than 4%. Pegasystems tumbled more than 14% after second-quarter adjusted earnings of 35 cents per share missed the 43-cent FactSet consensus. Nuclear reactor suppliers Oklo and X-Energy rose after a Bloomberg report that they are joining a Trump administration effort to speed nuclear power plant development for AI data centers, with X-Energy up 4% and Oklo higher by more than 3.5%. Rocket Lab gained 4% after winning a $266 million U.S. Air Force contract for 12 suborbital vehicle launches expected by the end of 2028. Cal-Maine Foods dropped more than 4.5% after reporting a surprise fiscal fourth-quarter loss of 76 cents per share versus expectations for an 8-cent profit, citing historically low inflation-adjusted egg prices. GE Vernova declined more than 7% despite beating second-quarter revenue and raising full-year guidance, with CEO Scott Strazik highlighting a $176 billion backlog. AT&T rose 3% after adjusted earnings of 65 cents per share topped the 59-cent consensus, while Philip Morris International slipped 0.5% on a weaker-than-expected third-quarter earnings forecast of $2.20 to $2.25 per share, below the $2.42 estimate. CME Group added 1% after reporting second-quarter earnings and revenue above expectations and noting its best first half of a year ever.

Cal-Maine Foods has agreed to a $1.5 million settlement to resolve claims with the US Department of Justice and a coalition of state attorneys general in 17 states over allegations it participated in a scheme to manipulate an industry price index for cage-free eggs. The settlement is part of a broader resolution involving multiple major egg producers investigated for sharing bidding information through a cooperative, though Cal-Maine exited the cooperative before the 15-month investigation began. In addition to the monetary payment, the company will donate 30 million eggs to food banks and nonprofits, while denying all wrongdoing and insisting its conduct was lawful.

Oklahoma has resolved its decades-long legal battle against six poultry companies over alleged pollution of the Illinois River Watershed. The settlement covers Tyson Foods, Cargill, George's, Peterson Farms, Cal-Maine and Simmons Foods, who will collectively pay about $44m. Of that, $41.6m will go toward an environmental relief fund, $1.9m will create an independent compliance auditor, and $420,000 in penalties will be paid into the Oklahoma Department of Environmental Quality Revolving Fund. The companies also agreed to progressively cut the share of poultry litter applied within the watershed over seven years, starting with a 40% limit in the first two years, dropping to 30% in years three and four, and then to 20% from year five through seven. Additionally, they must pay for or finance half the cost of installing vegetative buffers on eligible poultry farms along Lake Tenkiller and the watershed's Scenic Rivers to filter runoff. The case was first brought in 2005 by then-attorney general Drew Edmondson, and a federal court ruled in the state's favor in January 2023.

The Justice Department and attorneys general from 17 states announced proposed settlements with three of the nation's largest egg producers after alleging they coordinated to manipulate a key pricing benchmark that inflated egg prices for consumers nationwide. Federal officials simultaneously filed a civil antitrust lawsuit against Cal-Maine Foods, Hickman's Egg Ranch and Versova while lodging the proposed settlements, which would prohibit the companies from engaging in the alleged conduct going forward. The companies agreed to pay a combined $3.3 million to participating states and donate approximately 53 million eggs to food banks and nonprofit organizations. The Justice Department alleges the companies manipulated daily price quotations published by Urner Barry, an industry benchmark that influences wholesale egg prices nationwide, by coordinating bidding activity to create the appearance of stronger demand and artificially inflate prices for billions of eggs sold each year. The proposed settlements remain subject to court approval following a 60-day public comment period required under the Tunney Act.