RGP News & Events

After one of the strongest rallies of the year, futures are modestly lower. Markets are pausing and giving back part of yesterday's surge after the initial euphoria around the ceasefire. The two-week ceasefire between the U.S. and Iran remains intact on paper, but cracks are already emerging. Ongoing military activity in Lebanon, disputes over compliance and continued restrictions in the Strait of Hormuz are all raising doubts.Crude is rebounding back toward the $100 level following yesterday's collapse as traders price in the risk that supply disruptions persist. Energy stocks are stabilizing and bond yields are ticking higher again as rate-cut expectations get pushed out. Markets are now pricing a much lower probability of easing this year, with some Fed officials even signaling openness to hikes if inflation proves sticky.In pre-market trading, S&P 500 futures fell 0.24%, Nasdaq futures fell 0.13% and Dow futures fell 0.31%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -CoreWeaveup 2% after announcing an expanded, long-term agreement with Meta Platformsto provide AI cloud capacity through December 2032 for approximately $21BTexas Instrumentsup 1% after Stifel upgraded the stock to Buy with a price target of $250, up from $215UP AFTER EARNINGS -Staar Surgicalup 19%Richardson Electronicsup 15%Resources Connectionup 9%BlackBerryup 8%DOWN AFTER EARNINGS -Simply Good Foodsdown 22%Applied Digitaldown 2%LOWER -Zscalerdown 3% after BTIG downgraded the stock to Neutral with no price target and removed the stock from the firm's first half Top Picks listTradeweb Marketsdown 1% after TD Cowen downgraded shares to Hold with a price target of $129, down from $130Conagra Brandsdown 1% after BNP Paribas downgraded shares to Neutral with a price target of $16, down from $19

Markets cheered the off-ramp to Middle East escalation in the two-week ceasefire confirmed by Iranian officials last night, staging a rip-roaring rally led by cyclical sectors on Wednesday.  Tech, Materials, Industrials, and Financials led the 2.5% S&P 500 charge while Energy fell as oil prices pushed back below $95 per barrel.  Fixed income markets tension has eased as well as fears of global staflation abated, with the yield on the 10-year Treasury note slipping over 10 basis points below 4.25% early in the day before a bounce toward 4.3%.  The CME FedWatch tool has also returned to discounting more FOMC easing this year with a near-certainty of at least one 25bps easing before year-end.In the opening hours of the evening session, the risk-on sentiment shift is largely being consolidated, with investors still understandably skittish about the possibility of renewed conflict amid headlines of accusations that Israel's ongoing campaign in Lebanon risks violation of the ceasefire.  S&P e-minis are down a decimal and Nasdaq 100 is off by 0.2%, while May WTI Crude Oil is back above $97 per barrel.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -STAAR Surgicalup 19.5% after above-consensus Q1 pre-announcementRichardson Electronicsup 9.6%Resources Connectionup 4.3%ALSO HIGHER -Alcoaup 1.4% after being upgraded to Overweight at Morgan StanleyDOWN AFTER EARNINGS -Applied Digitaldown 4.3%Constellation Brandsdown 1.0%PriceSmartdown 0.1%ALSO LOWER -Aehr Test Systemsdown 3.9% after equity offering

Sees Q4 gross margin 36.5%-37.5%. Sees Q4 run-rate SG&A expenses $39M-$41M. Sees Q4 non-run rate and non-cash expenses $13M-$15M. Says early fourth quarter weekly revenue trends are tracking below third quarter levels based on current visibility. Says saw an uptick in the volume of closed contracts during the quarter. Says AI remains a prominent topic in the market and continues to work with clients to size the opportunity. Says implemented an additional reduction in force in January. Says combined with prior actions in the current fiscal year, the company expects total annualized cost savings of approximately $12M to $14M, with a portion of those savings being selectively reinvested to support growth in fiscal 2027. Comments and guidance taken from Q3 earnings conference call.