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Lakeland Industries Secures Contract with Scottish Police Authority
Lakeland Industries announced that its Jolly Scarpe brand has been awarded a contract by the Scottish Police Authority for the supply of shoulder and arm guards for public order applications. Financial terms of the agreement were not disclosed. The award follows a competitive tender process and became effective October 2, the date of the Scottish Police Authority's letter of acceptance, which was issued following the applicable standstill period. The agreement carries an initial fixed price two-year term and a one-year extension option. Under the agreement, Jolly Scarpe will supply all-in-one protective kits providing shoulder and arm protection for public order and law enforcement operations. The products carry an expected service life that can support a replacement cycle and replenishment demand over the life of the agreement. The Scottish Police Authority is the statutory body responsible for maintaining the police service in Scotland and is the contracting authority for Police Scotland, the country's national police service. Police Scotland reports approximately 23,000 officers and staff policing 28,168 square miles, approximately one third of the United Kingdom's landmass, through 13 local policing divisions supported by national specialist divisions.
US Indices Down for Third Day as Oil Prices Rise
US indices were down for the third consecutive trading day as the macro-oriented refrain of higher oil prices and rising Treasury yields continued to haunt sentiment. Energy was the only S&P 500 sector in the green, with front-month WTI Crude Oil contract testing the upside of $97 per barrel for the first time since May as U.S.-Iran tensions continue to percolate. Industrials and Consumer Cyclicals were the worst-performing areas of the market and Casey's General Storeswas the worst performing stock in the benchmark. In Tech, Semiconductors and Software Infrastructure saw some notable gains among stocks like SK Hynix, Marvell, Cloudflareand Akamaiwith relative weakness seen in Hardware and SaaS groups. Metawas also a notable standout with a positive market reaction to its personal AI agent Muse release, though Apple'sproduct announcements under its new CEO Ternusdid not produce an outsized reaction in its share price. Similar to yesterday, the Dow Industrials index fared worse than S&P 500 and Nasdaq Composite given its much greater exposure to Industrials and lower exposure to Energy, as it fell to its lowest level since July with a decline of 0.8%.In the opening hour of the evening session, index futures are mixed - S&P e-minis are marginally higher while Nasdaq 100 is marginally lower. Crude oil also continues to climb higher, with WTI contract retesting $97. Inflation data will be top of mind for markets for the next two days - starting with tomorrow's PPI release - heading into next week's FOMC decision. Fed funds futures are currently tipping a 60% probability of a 25 basis point rate hike next Wednesday and a 50% probability of two 25 basis point hikes over the course of the three remaining Fed decisions this year.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Culpup 18.6%Research Solutionsup 3.8%AeroVironmentup 2.9%ALSO HIGHER -Kinetik Holdingsup 4.3% after Bloomberg report that the company is considering options that include a saleDOWN AFTER EARNINGS -Navandown 16.5%The Cooper Companiesdown 15.7%Skillsoftdown 12.7%American Eagle Outfittersdown 10.3%Kewaunee Scientificdown 9.4%Limoneiradown 7.7%Lakeland Industriesdown 2.4%
Company Reports Q2 Revenue of $50.14M, Below Consensus
Reports Q2 revenue $50.14M, consensus $51.36M. "Our second quarter results provide further evidence that the underlying business is improving," said Jim Jenkins, president and CEO. "We are seeing momentum in Fire, continued expansion of our Fire Services platform and improving performance across several parts of Industrial. Just as importantly, we are becoming increasingly focused on where we want to invest, where we need to improve and where we need to simplify the business."
Major U.S. Averages Decline Amid Escalating Geopolitical Tensions
The major averages were broadly lower as investors confront escalating U.S.-Iran tensions and a highly anticipated inflation report. The May CPI report showed annual inflation accelerating to 4.2% in May, which was in line with expectations but means that consumer prices rose at a faster rate for a third-straight month.Geopolitics are adding another layer of uncertainty. Renewed military exchanges between the United States and Iran have increased concerns about energy markets and global economic growth. Oil prices remain volatile as traders assess the risk of disruptions in the Middle East, particularly around the Strait of Hormuz. President Trump commented to reporters that the U.S. will be attacking Iran "very hard," building on his statement earlier on Truth Social that Iran took "too long to negotiate a deal that would have been great for them," so "now they will have to pay the price!!!"Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:SpaceX'sIPO has drawn over $250B of investor demand, dwarfing the $75B the company aims to raise,Chewyreportedand provided guidance for Q2 and FY26Cracker Barrelreportedand provided its outlook for FY26Super Microannounced $7B inLakeland Industriesreported better-than-expected2. WALL STREET CALLS:Niketo Sector Perform at RBC CapitalBarclaysOscar Healthon exposure to individual ACA marketBillto Hold at TruistCava Groupto Buy at UBSSharkNinjawith an Overweight at Piper Sandler3. AROUND THE WEB:Volvosaid that in Q2, customer demand and deliveries in Europe are stable at good levels across the business, while in North America, demand remains strong with production gradually increasing, Reuters reportsStarbucksis considering options for its Japanese business, recently holding preliminary discussion with investment banks to determine an approach, Bloomberg saysAmazon Web Services'Chief Marketing Officer Julia White has asked staff to recruit recently laid off employees from Meta, Business Insider reportsNovelis, an aluminum-rolling plant in upstate New York that supplies Ford Motorand other automakers, will restart production Wednesday nine months after a fire, WSJ saysIn a recently published report, White Diamond Research claims SEGG Mediais "a fake company"4. MOVERS:Clover Healthgains after announcing the Centers for Medicare & Medicaid ServicesHyliion Holdingsincreases after Needhamof the stock with a Buy ratingRobinhoodhigher after being approved to, a director bought $20.2M shares, and announcing metrics for MayDianthuslower afterits CIDP Phase 3 studyWolfspeedfalls after filing to sellof stock5. EARNINGS/GUIDANCE:J.Jilland reaffirmed guidance for FY26Hinge Healthfor FY26 and Q2Casey's General Stores, with CEO Darren Rebelez commenting on "another record fiscal year"Limoneira, with EPS missing consensusCore & Mainand reaffirmed its guidance for FY26INDEXES:Near midday, the Dow was down 1.28%, or 651.41, to 50,220.70, the Nasdaq was down 1.33%, or 342.66, to 25,336.16, and the S&P 500 was down 0.99%, or 73.45, to 7,313.20.
Cava Group Upgraded to Buy by UBS with Price Target of $90
Stocks are under pressure this morning as investors confront escalating U.S.-Iran tensions and a highly anticipated inflation report. Futures are pointing lower, with the Nasdaq leading the decline as semiconductor and AI-related stocks continue to retreat from their recent highs.The market's primary focus is the May CPI report, which showed annual inflation accelerating to 4.2% in May, in line with expectations, while core monthly inflation slowed more than anticipated to 0.2%.Geopolitics are adding another layer of uncertainty. Renewed military exchanges between the United States and Iran have increased concerns about energy markets and global economic growth. Oil prices remain volatile as traders assess the risk of disruptions in the Middle East, particularly around the Strait of Hormuz.In pre-market trading, S&P 500 futures fell 0.47%, Nasdaq futures fell 0.72% and Dow futures fell 0.44%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Cava Groupup 2% after UBS upgraded the stock to Buy with a price target of $90, up from $85Hinge Healthup 1% after raising its Q2 and FY26 revenue outlook at its inaugural investor dayUP AFTER EARNINGS -Yuanbaoup 18%Cracker Barrelup 17%Core & Mainup 1%DOWN AFTER EARNINGS -Chewydown 2%J.Jilldown 8%Lakeland Industriesdown 1%LOWER -Dianthusdown 20% after peer Sanofiannounced that its riliprubart Phase 3 study in patients with chronic inflammatory demyelinating polyneuropathy will be stoppedSuper Microdown 12% after announcing a series of concurrent equity and equity-linked financing transactions totaling $7B, in expected aggregate amount as part of its plan to fund the purchase of components to satisfy the AI orders that the company has received in recent weeks for its advanced AI serversNikedown 1% after RBC Capital downgraded shares to Sector Perform with a price target of $50, down from $70
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