BSET News & Events

The major averages had a mixed last session of the holiday-shortened week] as traders continue to monitor the war in Iran and rising oil prices after President Donald Trump delivered an address on Wednesday night, during which he said that the U.S. is "getting very close" to ending the war. However, Trump added that the U.S. would "hit" Tehran "extremely hard." Afterward, Trump posted about the war again on social media, saying in a Truth Social post that it's time for Iran to make a deal "before it's too late." Amid the ongoing rhetoric, U.S. crude oil futures settled at $111.54 per barrel, up 11%.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Amazonis in talks to acquire Globalstar,Teslareported 358,023 vehicle deliveries in Q1, which William Blair said was slightlyFordreported anin Q1 U.S. vehicle salesSBA Communicationsis weighing a sale of the company after receiving takeover interest,The White House announced it is imposing 100% tariffs on patented pharmaceutical products and strengthened tariffs on steel, aluminum, and copper imports2. WALL STREET CALLS:Wingstopto Overweight at Piper Sandler and to Strong Buy at Raymond JamesRTXto Buy at Melius ResearchOllie's Bargain Outletto Buy at JefferiesWix.comto Neutral at UBSAkamaito Neutral at Baird3. AROUND THE WEB:Comcast's"Super Mario Galaxy Movie" has had the biggest opening day domestic gross of 2026, Variety reportsHersheywill change the chocolate in a small portion of its Reese's and Hershey's products to use "classic milk and dark chocolate recipes," with the shift to pure chocolate ingredients affecting less than 3% of Reese's products and a sliver of Hershey's products, Bloomberg saysIntelis planning to invest another $15M in SambaNova, a chip startup chaired by Intel CEO Lip-Bu Tan, Reuters saysPublicis Groupeis acquiring sports-marketing agency 160over90 from WME Group for more than $500M, WSJ reportsSam's Club, which is owned by Walmart, said it plans to increase its annual membership fee by $10, offering its one-year basic membership option for $60 and its higher-tier option for $120, CNBC says4. MOVERS:Transoceanincreased after beingPenguin Solutionsgained afterand providing guidance for FY26Intuitive Machineswas higher after34.57M shares of stockTeluswas lower in New York after TD Securitiesthe stock to HoldBCEfell in New York after TD Securitiesthe stock to Hold5. EARNINGS/GUIDANCE:Acuity Brands, with EPS and revenue beating consensusAngioDynamicsand narrowed its guidance for FY26Scotts Miracle-Grobacked itsAirSculpt, with EPS higher year-over-yearBassett Furniture, with EPS and revenue lower year-over-yearINDEXES:The Dow fell 61.07, or 0.13%, to 46,504.67, the Nasdaq gained 38.24, or 0.18%, to 21,879.18, and the S&P 500 advanced 7.37, or 0.11%, to 6,582.69.

The major averages were lower near noon as traders continue to monitor the war in Iran and increasing oil prices. The top indices came off earlier lows after the Islamic Republic News Agency said that Iran and Oman are drafting a protocol to "monitor" traffic through the Strait of Hormuz. The news comes after President Donald Trump delivered an address on Wednesday night, during which he said that the U.S. is "getting very close" to ending the war, though Trump added that the U.S. would "hit" Tehran "extremely hard." Following the comments, WTI and Brent crude futures both jumped as the U.S. and European benchmarks hold well above $100 per barrel.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Amazonis in talks to acquire Globalstar,Teslareported 358,023 vehicle deliveries in Q1, which William Blair said wasFordreported anin Q1 U.S. vehicle salesImmunovantsaid its two Phase 3 studies of batoclimab failed toFollowing President Trump's address last night, shares of energy companies like BPand Chevronwhile travel stocks, including Carnivaland JetBlue, were slipping2. WALL STREET CALLS:Wingstopto Overweight at Piper Sandler and to Strong Buy at Raymond JamesRTXto Buy at Melius ResearchOllie's Bargain Outletto Buy at JefferiesWix.comto Neutral at UBSAkamaito Neutral at Baird3. AROUND THE WEB:Hershey (HSY) will change the chocolate in a small portion of its Reese's and Hershey's products to use "classic milk and dark chocolate recipes," with the shift to pure chocolate ingredients affecting less than 3% of Reese's products and a sliver of Hershey's products, Bloomberg saysGoogleis developing a fitness band meant to compete with wearable devices from upstarts such as Whoop and Oura Health Oy, Bloomberg reportsIntelis planning to invest another $15M in SambaNova, a chip startup chaired by Intel CEO Lip-Bu Tan, Reuters saysPublicis Groupeis acquiring sports-marketing agency 160over90 from WME Group for more than $500M, WSJ reportsSam's Club, which is owned by Walmart, said it plans to increase its annual membership fee by $10, offering its one-year basic membership option for $60 and its higher-tier option for $120, CNBC says4. MOVERS:Transoceanincreases after beingPenguin Solutionsgains afterand providing guidance for FY26Intuitive Machineshigher after34.57M shares of stockTeluslower in New York after TD Securitiesthe stock to HoldBCElower in New York after TD Securitiesthe stock to Hold5. EARNINGS/GUIDANCE:Acuity Brands, with EPS and revenue beating consensusAngioDynamicsand narrowed its guidance for FY26Scotts Miracle-Grofor FY26AirSculpt, with EPS higher year-over-yearBassett Furniture (BSET), with EPS and revenue lower year-over-yearINDEXES:Near midday, the Dow was down 0.43%, or 199.23, to 46,366.51, the Nasdaq was down 0.33%, or 71.90, to 21,769.05, and the S&P 500 was down 0.26%, or 17.14, to 6,558.18.

Relief rally discounting de-escalation in the Middle East continued on Wednesday, with investors sending the Nasdaq Composite up 1.2% and S&P 500 up 0.7 in the first trading day of the new quarter.  Materials was once again among the best performing sectors on the benchmark, with State Street Materials Select Sector SPDR ETFnow up over 3% from Friday's lows following three sessions of gains.  Energy, meanwhile, entered the new quarter as the worst performing sector on the day as WTI Crude Oil prices continued to fall, sliding back below $100 per barrel on diminishing geopolitical premium.Ahead of this evening's address by President Trump updating the nation on the cabinet's plans for Iran, equity futures are little changed, with S&P e-minis at 6,617 and Nasdaq 100 contract around 24,190.  May WTI Crude Oil has also resumed quotation to the downside and below $99 while precious metals are advancing for the 5th consecutive session - Gold is above $4,820 and Silver is just shy of the $76 per ounce mark.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Franklin Coveyup 11.4%Penguin Solutionsup 10.7%ALSO HIGHER -Globalstarup 15.3% after FT reports Amazon.com is in talks to acquire companyWingstopup 1.8% after valuation-driven Piper Sandler upgrade to OverweightDOWN AFTER EARNINGS -Bassett Furniture Industriesdown 3.8%ALSO LOWER -Celldex Therapeuticsdown 5.3% after equity offeringAlto Neurosciencedown 3.0% after announcing ALTO-101 did not achieve statistical significance

Reports Q1 revenue $80.34M vs. $82.16M last year. The company said, "After a solid start to the first seven weeks of fiscal 2026, the pace of business slowed abruptly in mid-January. As a result, consolidated sales declined by 2.2% for the quarter. On the macro front, demand continues to suffer from the stubbornly weak residential housing market. Amidst that backdrop, severe weather occurring over the last two weekends of January essentially shut down normal operations at many of our retail stores and warehouses. The timing of the bad weather was especially unfortunate as the back half of January is usually a strong sales period. On the positive side, retail written sales for our President's Day event rebounded nicely, producing a double-digit sales increase for the promotion. Ultimately, retail written sales were flat for the quarter. Wholesale margins were down slightly, primarily due to volume declines in our domestic upholstery operations. Bassett Casegoods, on the other hand, posted a 12.1% sales gain and improved margins. Retail margins were significantly affected by our decision to absorb tariffs in retail pricing during the fourth quarter of 2025, which are delivered in Q1. Pricing for the second quarter forward now includes the tariffs at retail and wholesale. At some point, we believe that the housing market will rebound and drive demand more in line with historical experience. With that in mind, we are making measured cash investments to grow our business. We are committed to our omni-channel model as e-commerce sales increased by 28% in the quarter. The new Cincinnati store is under construction and we will begin work on our new Orlando location in early April. This fall, we will move into a new showroom location in High Point and extensive renovations are already taking place to that space. As we invest, we strive to seek the proper balance between investment in future top line expansion and managing ongoing expenses. Accordingly, our efforts to identify ways to leverage operating expenses are ongoing. Several initiatives are underway that are expected to save an additional $1.5 to $2.0 million annually beginning late in the second quarter."