Cal-Maine's Bird Flu Boost 🥚

And, Flutter's gloomy NFL results.

January 08, 2025

Today is Wednesday, January 8, 2025.

The Early Bird Index today is 81.47

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Cal-Maine's Bird Flu Boost 🥚

Higher egg prices boosted the financial earnings results for fresh egg producer Cal-Maine Foods (Nasdaq: CALM) on Tuesday, sending shares up 3.78% in after-hours trading.

Financials: Cal-Maine reported earnings of $4.47 per share in the past quarter and revenue of $954.7 million; both were better than expected.

Details: Demand for eggs was high during the period, including the Thanksgiving holiday season.

Quote: “Our results also reflect higher market prices, which have continued to rise this fiscal year as supply levels of shell eggs have been restricted due to recent outbreaks of highly pathogenic avian influenza.” - Sherman Miller, CEO of Cal-Maine.

Stock Price: In the last 12 months, Cal-Maine’s stock is up 87%.

Early Bird’s Nest Egg Gains: Despite a strong 2024, the company could face potential challenges in 2025.

  • If supply stabilizes or increases, egg prices could drop, impacting profitability.

  • Expenses for the company have increased significantly in the past few months.

Final Thoughts: Cal-Maine’s strong 2024 came after the stock price declined in 2023.

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Notables

Notable Earnings Today: Albertsons (NYSE: ACI), Acuity Brands (NYSE: AYI), Jefferies (NYSE: JEF), MSC Industrial (NYSE: MSM), Penguin Solutions (Nasdaq: PENG), Helen of Troy (Nasdaq: HELE), Greenbrier (NYSE: GBX), AngioDynamics (Nasdaq: ANGO), UniFirst (NYSE: UNF), Radius Recycling (Nasdaq: RDUS), Franklin Covey (NYSE: FC), Saratoga Investment (NYSE: SAR), Simply Good Foods (Nasdaq: SMPL).

Notable IPOs Today: Drugs Made In America Acquisition Corp. Units (Nasdaq: DMAAU), 3 E Network Technology Group Ltd Class A Ordinary Shares (Nasdaq: MASK).

Notable Equity Crowdfunding Campaigns Ending Today: ABBY by GOGOTECH (StartEngine), GorillaTech (StartEngine).

Notable Economic Events Today: ADP Nonfarm Employment Change (8:15 a.m. ET), Crude Oil Inventories (10:30 a.m. ET), FOMC Meeting Minutes (2:00 p.m. ET), Consumer Credit (3:00 p.m. ET).

Flutter's Gloomy NFL Results

Denver Broncos Football GIF by Broncos

Gif by DenverBroncos on Giphy

Gamblers betting on the NFL on FanDuel may have been too successful in the past quarter, causing parent company Flutter Entertainment (NYSE: FLUT) to slash its outlook and fall 2.70% in after-hours trading on Tuesday.

Powering the Story: The company described this NFL season as “the most customer friendly since the launch of online sports betting,” with gamblers winning more money than expected and the company taking a hit.

Details: Flutter expects U.S. revenue to be about $370 million lower than expected, and the revenue margin will also decline.

Final Thoughts: This is a setback for a stock that is up 47% in the last 12 months.

Amazon’s Georgia Investment

Amazon (Nasdaq: AMZN) said Tuesday that Amazon Web Services (AWS) plans to invest at least $11 billion in Georgia to expand AI infrastructure.

Final Thoughts: AWS has been a big part of Amazon’s rising stock price.

Feeling Bullish: How high can XRP price go? (Cointelegraph)

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