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Cal-Maine: A Forecast After A Dark Quarter Cal-Maine: A Forecast After A Dark Quarter

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Market Overview

U.S. stock futures were higher on Thursday, with the Dow Jones futures gaining around 50 points.

Cal-Maine Hits a Sour Note

Shares of Cal-Maine Foods, Inc. (NASDAQ: CALM) fell sharply in pre-market trading after the company reported downbeat results for its second quarter.

Cal-Maine Foods reported quarterly earnings of 65 cents per share, missing the analyst consensus estimate of 83 cents. The company reported quarterly sales of $523.20 million which failed to meet the Street’s estimate of $525.39 million.

Cal-Maine Foods shares fell 5.3% to $51.94 in pre-market trading.

Stocks on the Downslide

Several big stocks recorded losses in today’s pre-market trading session:

  • MMTec, Inc. (NASDAQ: MTC) shares dipped 13.8% to $1.56 in pre-market trading after surging over 86% on Wednesday.
  • Evotec SE (NASDAQ: EVO) shares declined 11.4% to $9.37 in pre-market trading. Evotec and Owkin announced an A.I.-powered integrated multi-target collaboration in oncology, immunology, and inflammation.
  • Dyne Therapeutics, Inc. (NASDAQ: DYN) shares fell 6.6% to $13.80 in pre-market trading after the company announced an underwritten public offering of $175 million of common stock.
  • CBRE Group, Inc. (NYSE: CBRE) fell 5.9% to $83.82 in pre-market trading. CBRE Group shares fell over 4% on Wednesday after Evercore ISI Group downgraded the stock from Outperform to In-Line and raised its price target from $79 to $96.
  • OPKO Health, Inc. (NASDAQ: OPK) shares declined 5.3% to $ 1.42 in pre-market trading. OPKO Health disclosed a private offering of Convertible Senior Notes due 2029.
  • Pure Storage, Inc. (NYSE: PSTG) shares fell 4.7% to $34.82 in pre-market trading. Pure Storage shares gained around 5% on Wednesday after it was announced that the company will join the S&P MidCap 400.
  • Revolve Group, Inc. (NYSE: RVLV) shares declined 3% to $15.40 in pre-market trading after falling around 5% on Wednesday.

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Don’t forget to check out our premarket coverage here


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