Worthington Steel Inc (WS) News & EventsWSWorthington Steel Inc

Stock Futures Point to Lower Open as Tech Stocks Weigh

Stock futures are pointing to a lower open after the S&P 500 and Nasdaq closed at record highs in the prior session, with investors turning cautious as Treasury yields and oil prices move higher ahead of the Federal Reserve's September meeting minutes. Brent crude moved back above $100 a barrel and WTI was around $90 as Middle East supply concerns continued to pressure markets.In focus will be the 2 p.m. ET release of the Fed's September meeting minutes, which could provide a clearer picture of the debate behind the central bank's 25-basis-point rate hike. Markets broadly expect the Fed to hold rates at its Oct. 27-28 meeting following last week's weaker jobs report, but expectations for another hike later in the year remain. Reuters reported that October hike odds had fallen to about 22% from roughly 51% a week earlier, while policymakers remain divided over whether inflation warrants additional tightening.Higher yields are weighing particularly heavily on technology and semiconductor stocks after the sector drove Tuesday's record-setting rally. The AI trade remains a major source of support for the broader market, but rising financing costs and questions about the enormous capital requirements of AI infrastructure are increasingly creating a counterweight.In pre-market trading, S&P 500 futures fell 0.38%, Nasdaq futures fell 0.67% and Dow futures fell 0.69%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Unity Softwareup 4% after Googleand the company announced a new artificial intelligence-powered game creation platform called PlaygroundFlutter Entertainmentup 3% after Citi upgraded the stock to Buy with a price target of $91, down from $93Safe Proup 1% after reporting preliminary third quarter resultsUP AFTER EARNINGS -Neogenup 15%Penguin Solutionsup 4%DOWN AFTER EARNINGS -Constellation Brandsdown 1%Worthington Steeldown 1%LOWER -Robloxdown 4% after Googleand Unityannounced a new artificial intelligence-powered game creation platformMicrondown 1% after Reutersa workers' union at Micron's Taiwan facility has received an authorization from its members to strike over the dispute regarding the company's bonus scheme

Nasdaq and S&P 500 Hit Record Highs

Retreat in Oil prices and Treasury yields helped support investor sentiment, sending Nasdaq Composite and the S&P 500 to record highs.  Utilities was the best performing sector in the index, with traders piling into the beaten down but high-yielding space, betting that the bid in the Treasury market could be sustainable.  Consumer Cyclicals - still the worst S&P sector this year - also performed well, with outsized gains of about 3% among discount chains Dollar Treeand Dollar General.  Tech was mixed, with losses in semiconductor equipment offset by gains in communication equipment stocks. In software, cybersecurity names were especially impressive as Palo Alto Networks, CrowdStrike, and Fortinetall notched all-time highs.In the opening hour of the evening session, S&P e-minis and Nasdaq 100 contracts are up a decimal.  In commodities, WTI Crude Oil had fallen to a one-month low around $87 per barrel on easing supply concerns, though November contract is back around $90 on Tuesday evening.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Neogenup 10.0%Penguin Solutionsup 5.4%ALSO HIGHER -Pluriup 6.1% after equity offeringZIM Integrated Shipping Servicesup 4.3% after positive FY26 pre-announcementDOWN AFTER EARNINGS -Constellation Brandsdown 4.6%Worthington Steeldown 3.7%ALSO LOWER -Caribou Biosciencesdown 35.3% after  announcing it would discontinue development activities, explore alternativesFair Isaacdown 0.8% after announcing staff cutsSpaceXdown 1.0% after FT report that the company seeks to raise $40B to purchase Nvidia, up 0.5%) chips

Worthington Steel Reports Q1 Revenue of $2.73B

Reports Q1 revenue $2.73B vs $872.9M last year. "This quarter marks an important milestone for Worthington Steel as we report our first results including Kloeckner," said Geoff Gilmore, president and CEO. "The addition of Kloeckner significantly expands our capabilities and positions us as a more diversified metals processing and manufacturing company. At the same time, our core Worthington Steel business delivered solid operating performance, driven by higher direct volumes and improved pricing. As we move forward, our priorities remain clear: serving our customers, improving our operations and creating long-term value for our shareholders."