Noticias y eventos de Hooker Furnishings Corp (HOFT)HOFTHooker Furnishings Corp

U.S. Futures Rebound, Intel Price Target Raised to $135

Markets are looking to rebound this morning after two sessions of selling pressure, with futures higher across the major indexes. The catalyst is a combination of bargain-hunting in beaten-down technology shares. Nasdaq futures are leading the advance, reflecting renewed interest in AI and semiconductor names after a sharp pullback earlier this week.Wednesday's CPI report showed headline inflation accelerating to 4.2% year-over-year, driven largely by energy costs. Meanwhile, this morning's PPI report showed producer prices for final demand in the U.S. increased 1.1% month-over-month in May, the same as a downwardly revised 1.1% rise in April and once again above forecasts of 0.7%.In pre-market trading, S&P 500 futures rose 0.49%, Nasdaq futures rose 0.83% and Dow futures rose 0.54%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Intelup 4% after BofA double upgraded the stock to Buy from Underperform with a price target of $135, up from $96, citing higher confidence in Intel's opportunity to help address industry constraints in leading edge wafers and packagingViaSatup 4% after announcing it was awarded a prime contract by the U.S. Space Force's Space Systems Command to build, launch and deliver the first of a proliferated fleet of small, maneuverable geosynchronous Earth orbit satellitesVoyager Technologiesup 3% after BTIG initiated coverage of shares with a Buy rating and $55 price targetEatonup 2% after announcing it will separate and combine its Mobility Group with Danain a Reverse Morris Trust transaction creating a combined company valued at over $10BUP AFTER EARNINGS -Navanup 20%Hooker Furnitureup 17%Lovesacup 1%Stitch Fixup 1%DOWN AFTER EARNINGS -Oxford Industriesdown 10%Oracledown 10%Aurora Cannabisdown 6%LOWER -Danadown 7% after announcing Eatonwill separate and combine its Mobility Group with the company in a Reverse Morris Trust transaction

Hooker Furniture CEO Provides Company Outlook

Hooker Furniture CEO Earl Armstrong provided a company outlook. "Housing activity remains pressured, and recent consumer confidence readings continue to reflect a very cautious consumer environment. Based on currently available information, we expect certain tariffs to be levied on our imported goods later this fiscal year, which will replace, at least in part, the tariffs overturned by the U.S. Supreme Court earlier this year. Our outlook for the FY7 Q2 is cautious, given the current macro-economic pressures. While we do not expect meaningful near-term improvement in market conditions, our more efficient cost structure and streamlined portfolio should help position us to deliver improved results versus the prior-year period, even if current conditions persist. While macroeconomic conditions remain challenging and tariff uncertainty persists, we believe the actions taken over the past year have positioned the company to generate improved and more consistent earnings as market conditions improve. Meaningful shipments are expected to begin in the second half of fiscal 2027 and are expected to build through the end of the current fiscal year and beyond. Combined with continued momentum in incoming orders across our core businesses, we believe we are well positioned to capitalize on opportunities as demand recovers".

Hooker Furniture Q1 Revenue $69.45M, Net Income $1.1M

Reports Q1 revenue $69.45M vs. $71.18M last year. "We are encouraged to report $1.1M in consolidated net income for the quarter, a $4.1M improvement over the prior-year Q1," said CEO Jeremy Hoff. "These improvements were achieved despite a challenging demand environment characterized by depressed housing activity and low consumer confidence. These improvements were primarily attributable to the $17.5M reduction in fixed costs related to the continuing operations achieved in the prior year. Hooker Branded performed exceptionally well despite lower sales compared to the prior year. Domestic Upholstery's performance was driven largely by lower sales volume but was bolstered by operational efficiencies implemented last fiscal year. Looking forward, retailer commitments to Margaritaville products, galleries, and free-standing stores continue to exceed our expectations, with meaningful shipments expected to begin in the second half of FY27...Once market conditions improve, we believe this strategy will ultimately drive higher sales by creating a more cohesive brand narrative and presenting all offerings under the Hooker name, which carries the strongest brand recognition across our portfolio."