DIT News & Events

Tensions in the Strait of Hormuz are percolating again as Iranian officials have walked back its messaging of a deal being reached and President Trump upped his bellicose rhetoric, stating that it is unlikely that Wednesday's deadline for ceasefire will be extended.  Oil prices jumped on the news toward $90 per barrel and Energy was the best performing sector in the S&P 500, though the impact on broader sentiment was relatively mild, with U.S. indices finishing lower by less than 0.3%.  Communication Services was the worst performing area of the market as Netflixremained weak after last week's post-earnings selloff and Metaalso turning in the worst performance among the MAG-7.In the opening hour of the evening session, index futures are more upbeat - S&P e-minis are up a decimal and Nasdaq 100 contract is up 0.2%.  Of note afterhours, Amazon.comhas continued its climb toward record highs after announcing an expanded investment in Anthropic.  Applemeanwhile is laying the groundwork for a leadership transition, announcing John Ternus will be the company's next CEO while  Tim Cook transitions to a role of Executive Chairman effective September 1.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -RBB Bancorpup 4.2%CNB Financialup 2.0%Flexsteel Industriesup 1.6%Steel Dynamicsup 0.5%NETSTREITup 0.5%ALSO HIGHER -Amazon.comup 2.6% after announcing expanded investment in AnthropicDOWN AFTER EARNINGS -Washington Trust Bancorpdown 7.1%Alaska Air Groupdown 5.4%Zions Bancorporationdown 3.0%AMCON Distributingdown 1.8%ALSO LOWER -Spruce Biosciencesdown 14.2% after equity offeringAXT, Inc.down 11.9% after Q1 pre-announcement, equity offeringApple (down 0.5% after announcing succession plan for CEO Cook

Reports Q2 revenue $715.65M vs $619.5M last year. "AMCON's commitment to proprietary foodservice programs and custom curated store level merchandising is a value-added approach to convenience distribution. We now have the capability to offer turn-key solutions that enable our retail partners the ability to compete favorably with the Quick Service Restaurant industry. Our foodservice programs are supported by AMCON's industry leading platform of services, as well as the foundational support of our operating philosophy centered on a superior level of customer service," said Christopher H. Atayan, AMCON's Chairman and Chief Executive Officer. He further noted, "We continue to actively seek strategic acquisition opportunities for Convenience and Foodservice Distributors, and their families, who desire to align with our customer focused approach philosophy and further the legacy of their enterprises."

Amcon Distributing Company announced that the company's Board of Directors declared a 50% stock dividend on its common stock. The Stock Dividend will be issued on March 20, 2026, to shareholders of record as of March 6, 2026, in the dividend ratio amount of 0.5 share of common stock being distributed per every one share of common stock held by each such holder. No fractional shares will be issued, and the Company will pay cash in lieu of any fractional shares that result from the Stock Dividend based on the closing price of the Company's common stock on the Record Date.

This cash dividend is payable on January 31, 2025 to shareholders of record as of December 30, 2024.