SMCI, CBRL, HOOD, FDXF

Key Points:

• Freight stocks declined sharply after Amazon announced it would open its less-than-truckload shipping services to outside companies, threatening established industry players; FedEx Freight Holding and Old Dominion Freight Line fell 5%, XPO dropped 4%, and Amazon itself dipped 2%.
• Super Micro Computer's shares plunged 18% after announcing plans to raise $7 billion through equity and equity-linked securities to fund hardware component purchases.
• Semiconductor stocks continued their downturn, with Micron Technology down 4%, Advanced Micro Devices falling nearly 5%, and Broadcom dropping 5%.
• Devon Energy surged over 6% following an upgrade by Evercore ISI to outperform, driven by a better-than-expected mid-month update and positive outlook after acquiring Coterra Energy.
• Cracker Barrel's stock soared 24% after raising its full-year revenue and adjusted EBITDA guidance and reporting fiscal third-quarter earnings that exceeded analyst expectations.
• Casey's General Stores jumped 14% on stronger-than-expected fiscal fourth-quarter results, supported by rising fuel margins and increased food and beverage sales, with EBITDA forecast growth of 8%-10% by fiscal 2027.
• Gambling stocks gained, with DraftKings up 5% and other operators like Rush Street Interactive and Flutter Entertainment also rising, buoyed by positive outlooks for engagement during the World Cup.
• Robinhood Markets rose 5% after reporting a 9% monthly increase in platform assets and receiving regulatory approval to underwrite initial public offerings.
• Oscar Health and Cava saw upgrades from Barclays and UBS respectively, with shares rising 3% and 6% on positive growth and margin recovery prospects.
• Gold miners declined alongside a 2% drop in gold futures, with Anglogold Ashanti falling nearly 6% and other miners like Harmony Gold and Gold Fields also retreating.