FRD News & Events

Stocks closed broadly higher after one of the most hotly-anticipated IPOs of all time as Elon Musk's SpaceX went public, making Musk the world's first trillionaire in the process. The market advance was also driven by a combination of easing geopolitical fears, a sharp decline in oil prices, and continued enthusiasm around AI-related stocks.President Trump indicated that an Iran peace agreement could be signed as soon as this weekend, causing crude oil to tumble below $90 per barrel. Lower oil prices are helping calm inflation fears after this week's hotter-than-expected CPI and PPI reports. Markets are betting that if energy prices continue falling, some of the inflation pressure could ease in coming months.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SpaceXopened at $150 after its, making Elon Musk the world's first trillionaireAdobeprovided areport for Q2Astera Labs, CoreWeave, Nebius, Rocket Lab, and Terodynehave been, while Charter, Cognizant, Insmed, Verisk, and Zscalerhave been removed from the indexLennarreportedRoku (ROKU) is in talks about combining with a U.S. media company,2. WALL STREET CALLS:AMDto Buy at CitiAdobeat Stifel, Wolfe and Evercore after annual recurring revenue outlook resetKratos Defenseto Overweight at JPMorganTravelersto Underweight at BarclaysSailPointto Neutral at BofA3. AROUND THE WEB:SpaceX rented out Colossus 1 after latency issues, Bloomberg reportsMicrosofthas considered spinning out or restructuring its Xbox business, The Information reportsAmazon'snewly launched national LTL network provides a strong economy-tier freight platform, but acquiring Forward Aircould quickly add a premium expedited offering, FreightWaves saysMetahas completed an operational split from Manus and halted data sharing between the two companies, Bloomberg saysGoogleis in talks with Samsungto manufacture a memory input-output die for Icefish, its 10th-generation TPU, and TSMCwill make the computing engine, The Information reports4. MOVERS:Rezolvegains in New York after announcing aand its board moved to approve a capital reductionForward Airincreases after FreightWavesthe company could be a "complementary fit" for Amazon'sLTL offeringNokiahigher in New York after JPMorganon the stock to $21 from $14Richtech Roboticsfalls after an audit committee said the company willfor FY24 and FY25Carvanadeclines after RBC Capitalto $85 from $925. EARNINGS/GUIDANCE:51Talk Online Education, with EPS lower year-over-yearLaser Photonics, with CEO Wayne Tupuola commenting, "Q1 was a period of decisive strategic and financial progress"Zedge, with EPS and revenue higher year-over-yearFriedman Industriesand provided guidance for Q1RH, provided guidance for Q1, and raised its outlook for FY26INDEXES:The Dow rose 353.51, or 0.70%, to 51,202.26, the Nasdaq gained 79.18, or 0.31%, to 25,888.84, and the S&P 500 advanced 37.16, or 0.50%, to 7,431.46.

The major averages were broadly higher near noon amid one of the most hotly-anticipated IPOs of all time as Elon Musk's SpaceX goes public. The market is also being driven by a combination of easing geopolitical fears, a sharp decline in oil prices, and continued enthusiasm around AI-related stocks.Meanwhile, President Trump indicated that an Iran peace agreement could be signed as soon as this weekend, causing crude oil to tumble below $90 per barrel. Lower oil prices are helping calm inflation fears after this week's hotter-than-expected CPI and PPI reports. Markets are betting that if energy prices continue falling, some of the inflation pressure could ease in coming months.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SpaceXopened at $150 after its, making Elon Musk the world's first trillionaire in the processAdobeprovided areport for Q2Astera Labs, CoreWeave, Nebius, Rocket Lab, and Terodynehave been, while Charter, Cognizant, Insmed, Verisk, and Zscalerhave been removed from the indexLennarreportedShellannounced a pause in its2. WALL STREET CALLS:AMDto Buy at CitiAdobeat Stifel, Wolfe and Evercore after annual recuring revenue outlook resetKratos Defenseto Overweight at JPMorganTravelersto Underweight at BarclaysSailPointto Neutral at BofA3. AROUND THE WEB:Amazon'snewly launched national LTL network provides a strong economy-tier freight platform, but acquiring Forward Aircould quickly add a premium expedited offering, FreightWaves saysMetahas completed an operational split from Manus and halted data sharing between the two companies, Bloomberg saysNvidiaand Abridge, maker of an AI note-taking app for doctors, are training an AI model for clinical conversations using de-identified data and Nemotron models, WSJ reportsSpotifyhas removed tens of thousands of fake podcasts that promoted illegal online pharmacies following media scrutiny and an investigation by Senator Maggie Hassan, but the findings have raised concerns about the platform's ability to proactively identify and remove harmful content before it reaches users, CNN saysGoogleis in talks with Samsungto manufacture a memory input-output die for Icefish, its 10th-generation TPU, and TSMCwill make the computing engine, The Information reports4. MOVERS:Rezolvegains in New York after announcing aand its board moved to approve a capital reductionForward Airincreases afterthe company could be a "complementary fit" for Amazon'sLTL offeringNokiahigher in New York after JPMorganon the stock to $21 from $14Richtech Roboticsfalls after an audit committee said the company willfor FY24 and FY25Carvanadeclines after RBC Capitalto $85 from $925. EARNINGS/GUIDANCE:51Talk Online Education, with EPS lower year-over-yearLaser Photonicswith CEO Wayne Tupuola commenting, "Q1 was a period of decisive strategic and financial progress"Zedge (ZDGE), with EPS and revenue higher year-over-yearFriedman Industriesand provided guidance for Q1RHprovided guidance for Q1, and raised its outlook for FY26INDEXES:Near midday, the Dow was up 0.60%, or 303.09, to 51,151.84, the Nasdaq was down 0.03%, or 7.10, to 25,802.56, and the S&P 500 was up 0.26%, or 19.27, to 7,413.57.

Friedman Industries sees Q1 revenue comparable to prior quarter sales of $191.8M

Reports Q4 revenue $191.8M vs. $129.2M last year. "We delivered an outstanding fourth quarter and a strong finish to fiscal 2026 as our strategic investments and operating initiatives translated into meaningful financial results," said CEO Michael Taylor. "Q4 net earnings increased to $9.2M on sales of $191.8M, while sales volume reached the highest quarterly level in company history. FY26 sales volume also established a new company record, driving net earnings of $19.5M on sales of $646.9M. These results reflect the strength of our operating platform, disciplined commercial execution, and continued focus on profitable growth. Our FY26 performance demonstrates the effectiveness of our long-term growth strategy. Record sales volumes, increased capacity utilization, and strong execution across our facilities drove improved operating results throughout the year. In addition, the Century Metals acquisition has proven to be an excellent strategic fit by expanding our processing capabilities, enhancing our geographic reach, and contributing meaningfully to both volume growth and profitability. Combined with our risk management capabilities and strong balance sheet, we believe we are well positioned to continue building value for our shareholders."