HOFT News & Events

Hooker Furnishing announced it has completed the sale of the Pulaski Furniture and Samuel Lawrence Furniture casegoods brands to Magnussen Home Furnishings, Inc. for approximately $6.1M, subject to certain final customary post-closing adjustments. As previously announced ten percent of the purchase price is subject to a holdback for 210 days for customary indemnification and final purchase price adjustments. The Company also shed approximately $4.8M in HMI showroom lease liabilities and related expenses, as Magnussen assumes the lease of HMI's High Point showroom.

The major averages had a mixed session, with the Dow and S&P 500 rising and the Nasdaq slipping.Renewed concerns over the technology sector weighed on the Nasdaq with Oracle's shares sharply lower after a downbeat forecast and heavy capital spending plans tied to its AI business. This drag on tech names like Nvidia, Microsoft, Broadcom and other AI-linked equities knocked the Nasdaq lower.Looking to commodities, gold prices surged past the $4,300 threshold. Oil prices, meanwhile, closed sharply lower following the release of EIA natural gas storage data.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Disneyannounced awith Microsoft-backedOpenAI and is making a $1B equity investment in the ChatGPT makerOraclereportedand reiterated its FY26 revenue guidanceCoca-Colanamed Henrique Braun to succeed James QuinceyCienareported better-than-expectedDoorDashand Uberhaveseeking to overturn a New York City law that requires delivery platforms to ask consumers to tip at checkout, instead of after the delivery2. WALL STREET CALLS:Visato Buy at BofAUnityto Buy at BTIG and to Overweight at Piper SandlerAlconto Underperform from Buy at BofAPayPalto Neutral at BofARokuto Buy at Jefferies, added to Best Idea List at Wedbush3. AROUND THE WEB:Applehas lost an appeals ruling in its fight with Epic Games over the App Store,Nvidiais planning a summit on data center power problems,SK On has decided to end its joint venture with Fordfor their joint battery factories in the U.S. as part of a business overhaul to focus on growth areas like energy storage systems,Googleis set to be hit by a large EU fine by the end of the year if it does not do more to ensure its app store complies with EU rules aimed at access and competition,Cal-Maine Foodsis producing record profits, and its shares are poised to appreciate by almost 20%,4. MOVERS:Planet Labsincreases afterand raising its guidance for FY26Gerongains after announcing aand plans to reduce one-third of its workforceGeminihigher after receiving afrom CTFCT1 Energyfalls after offering to sellUr-Energylower after filing to sell5. EARNINGS/GUIDANCE:Freight Technologiesand lowered its guidance for FY25Lovesac, with EPS lower year-over-yearManchester United, with CEO Omar Berrada commenting, "These robust financial results reflect the resilience of Manchester United"Hooker Furniture, with EPS and revenue lower year-over-yearElectrovaya, with EPS and revenue beating consensusINDEXES:The Dow rose 646.26, or 1.34%, to 48,704.01, the Nasdaq fell 60.30, or 0.25%, to 23,593.86, and the S&P 500 advanced 14.32, or 0.21%, to 6,901.

The major averages were mixed near noon, with the Dow rising and the Nasdaq sliding.Disappointing corporate news and lingering concerns over the technology sector are weighing with Oracle's shares sharply lower after a downbeat forecast and heavy capital spending tied to its AI business. This drag on tech names like Nvidia, Microsoft, Broadcom and other AI-linked equities has knocked the Nasdaq lower.Looking to commodities, gold prices are sharply higher and inching closer to the $4,300 threshold. Oil prices are sharply lower following the release of EIA natural gas storage data.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Disneyannounced awith Microsoft-backedOpenAI and is making a $1B equity investment in the ChatGPT makerOraclereportedand reiterated its FY26 revenue guidanceCoca-Colanamed Henrique Braun to succeed James QuinceyCienareported better-than-expectedEli Lillyreported that each dose of retatrutideand key secondary endpoints in its TRIUMPH-4 clinical trial2. WALL STREET CALLS:Visato Buy at BofAUnityto Buy at BTIG and to Overweight at Piper SandlerAlconto Underperform from Buy at BofAPayPalto Neutral at BofARokuto Buy at Jefferies, added to Best Idea List at Wedbush3. AROUND THE WEB:Cal-Maine Foodsis producing record profits, and its shares are poised to appreciate by almost 20%,AppleCEO Tim Cook has met with U.S. lawmakers to lobby against legislation that would require app store operators to authenticate user ages,SK On has decided to end its joint venture with Fordfor their joint battery factories in the U.S. as part of a business overhaul to focus on growth areas like energy storage systems,Googleis set to be hit by a large EU fine by the end of the year if it does not do more to ensure its app store complies with EU rules aimed at access and competition,At least two fistfights broke out between PDD Holdingsemployees and Chinese regulators at the e-commerce company's Shanghai premises,4. MOVERS:Planet Labsincreases afterand raising its guidance for FY26Gerongains after announcing aand plans to reduce one-third of its workforceGeminihigher after receiving afrom CTFCT1 Energyfalls after offering to sellUr-Energylower after filing to sell5. EARNINGS/GUIDANCE:Freight Technologiesand lowered its guidance for FY25Lovesac, with EPS lower year-over-yearManchester United, with CEO Omar Berrada commenting, "These robust financial results reflect the resilience of Manchester United"Hooker Furniture, with EPS and revenue lower year-over-yearElectrovaya, with EPS and revenue beating consensusINDEXES:Near midday, the Dow was up 1.06%, or 510.96, to 48,568.71, the Nasdaq was down 1.03%, or 244.77, to 23,409.39, and the S&P 500 was down 0.34%, or 23.23, to 6,863.45.

Markets are under pressure this morning as index futures slide following disappointing corporate news and lingering concerns over the technology sector. Oracle's shares are sharply lower after a downbeat forecast and heavy capital spending tied to its AI business. This drag on tech names like Nvidia, Microsoft, Broadcom and other AI-linked equities has knocked futures lower and put a cooler tone on the market.Globally, markets are mixed. Some Gulf markets are holding modest gains in response to the Fed easing, while Asian and European tech-heavy indices have softened in the wake of the tech selloff. Currency and bond markets are also reacting to the Fed's messaging and macro dynamics.In pre-market trading, S&P 500 futures fell 0.4%, Nasdaq futures fell 0.62% and Dow futures were flat.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Geminiup 9% after receiving a designated contract market license from the Commodity Futures Trading Commission, which will allow Gemini to begin offering prediction markets to U.S. customersCorbus Pharmaceuticalsup 8% after completing the single ascending dose and multiple ascending dose Phase 1a study of CRB-913Eli Lillyup 1% after reporting each dose of retatrutide met all primary and key secondary endpoints in its TRIUMPH-4 clinical trialUP AFTER EARNINGS -Cienaup 8%DOWN AFTER EARNINGS -Oracledown 13%Oxford Industriesdown 21%Lovesacdown 16%Hooker Furnituredown 14%Manchester Uniteddown 2%Vera Bradleydown 1%