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ROG-News
ROG-Events
S&P 500 Falls for Third Straight Day
S&P 500 fell for the third straight day as investor enthusiasm over the possibility of a less aggressive Federal Reserve following today's benign PCE inflation data was reversed into the close. While the Fed's preferred measure of inflation dented expectations of another rate hike in October, the impact down the Treasury yield curve was non-existent as the 10-year and the 30-year rates saw fresh multi-year highs at 5.30% and 5.65% respectively. Tech was the only sector to end Wednesday in the green as mega-cap names buffered sentiment, while Consumer Staples, Real Estate, and Healthcare underperformed.Index futures are slightly higher in the opening hour of the evening session, with S&P e-minis and Nasdaq 100 contracts both up 0.2%. Traders are watching the neutral market reaction to Q4 earnings out of Micron- the company exceeded estimates on both earnings and revenue and guided Q1 well above consensus on both the top and the bottom line. However, the management also warned that its capex plans for FY27 are higher than the company's prior projections. In Q4, Micron's capex of $10.77B was up from $7.1B in Q3 and up 119% y/y.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Bassett Furniture Industriesup 8.5%ALSO HIGHER -Monte Rosa Therapeuticsup 15.3% after announcing presentation of MRT-8102 GFORCE-1 Phase 1 StudyVicorup 8.9% after Q3 pre-announcementInogenup 6.7% after announcing plans to divest U.S. oxygen rental business and increase buybackNu Holdings Ltd.up 5.6% after denying reports of Monzo transactionRogersup 2.6% after medium-term outlookDOWN AFTER EARNINGS -Progress Softwaredown 1.8%Micron Technologydown 0.2%
Rogers Projects FY28 Revenue of $1.0B to $1.1B
Sees FY28 revenue $1.0B-$1.1B. "We are excited to share our plan to build a higher-growth, higher-performing Rogers," said Ali El-Haj, President and Chief Executive Officer. "Our proven capabilities and deep customer relationships provide a strong foundation for growth. By applying these strengths across our core markets and targeted high-growth opportunities, we expect to deliver significant revenue growth, margin expansion and earnings improvement through 2030."
Rogers Corporation Stock Rises 13.3% to $156.51
Rogers Corporation is up 13.3%, or $18.34 to $156.51.
Rogers Expects Earnings Per Share to Reach $14
Ali El-Haj, Rogers President and Chief Executive Officer, stated during the company's investor day: "As we conclude today's presentation, I want to reiterate that the messages that we shared with you first, the growth outlook for Rogers is compelling. We have an attractive core market that provides a strong foundation and exciting opportunities in adjacent areas, especially data centers... Here we are confident of what we are presenting to you, because of what I just stated. Again, the new high growth opportunities and Moore with the new high growth opportunities, the efficiency that we establish in our operations internally and the cost structure, cost control, we believe there's a significant earnings potential for the company going forward. These factors give us confidence that the $1.5 million is achievable. Our internal target is more than $1.5 million. The $14 per share is achievable. Our internal target is higher than that because we think we can get there. We have the confidence we can get there. We got the talent to get us there. We got the commitment from the team to get us there."
Sees Over 40% 5-Year Adjusted EPS CAGR
Sees more than 40% 5 year adjusted EPS CAGR. Sees 26% adjusted EBITDA margin in 2030. Sees 13% revenue CAGR 2025-2030. Comments taken from investor presentation slides.
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