CALM News & Events

The Justice Department is preparing to file an antitrust lawsuit against some of the country's biggest egg producers, including Cal-Maine Foods (CALM) and Versova, over allegations "they coordinated pricing through an information service that benchmarks prices for the industry," according to the Wall Street Journal's Dave Michaels, citing people familiar with the matter. No final decision has been made on the egg case, ant the department and egg producers could reach a settlement that avoids litigation, the sources added.

Stock futures are higher after yesterday's strong session. Markets are staging a sharp relief rally to kick off April as the dominant narrative is de-escalation. Comments suggesting a potential wind-down of U.S. military activity in Iran have triggered a broad risk-on move across equities, bonds and currencies.Global markets are following suit with Europe up solidly and Asia posting its biggest gains in years. Oil has dropped sharply from recent highs, easing inflation fears and effectively loosening financial conditions at the margin.Treasury yields are falling as markets begin to price in a slightly more accommodative Federal Reserve path if energy-driven inflation pressures fade. At the same time, cyclical sectors and travel names are outperforming globally, reflecting a reversal of the war-risk trade that dominated March.However, the geopolitical situation remains unresolved, with no confirmed ceasefire and lingering risks around the Strait of Hormuz and broader regional escalation. Markets may be pricing in a best-case scenario before it is fully realized, which would create asymmetry if headlines reverse.In pre-market trading, S&P 500 futures rose 0.60%, Nasdaq futures rose 0.83% and Dow futures rose 0.51%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Target Hospitalityup 36% after announcing a $550M multi-year lease and services agreement to construct and provide a facility and hospitality services to a hyperscaler and their development of a data center campus in North TexasDisneyup 1% after Raymond James upgraded the stock to Outperform with a $115 price targetUP AFTER EARNINGS -nCinoup 21%Dave & Buster'sup 7%SES AIup 5%Cal-Maine Foodsup 4%DOWN AFTER EARNINGS -Nikedown 11%RHdown 22%MSC Industrialdown 8%Conagra Brandsdown 1%

Reports Q3 revenue $667M, consensus $642.48M. "The shell egg market in the third quarter provided an important real-time test of our strategy. Periods of egg price softness highlighted that our performance is not simply a function of spot market conditions, but of how effectively we manage mix, pricing structures, costs, and capital across the cycle. Despite materially lower egg prices compared to the historic levels seen in the prior year, our diversified portfolio and operational execution enabled us to deliver solid results and maintain momentum. In our view, this reinforces the resilience of the model we are building that we expect will lead to more durable normalized earnings power" said Sherman Miller, president and CEO of Cal-Maine Foods.