KB Home just announced its third quarter financial results, posting earnings of $1.49 per share on revenues of $1.39 billion. Analysts had sky-high hopes, calling for $1.58/share and $1.5 billion in revenue. Yet, the outcomes were well below their forecasts. Due to the disappointing earnings performance, KB Home lowered its fiscal 2025 revenue forecast.
The stock market experienced some drastic changes today. UniFirst’s shares fell by over 10% after the firm terminated its acquisition conversations with Cintas. Cintas company stopped the merger on offer of $275 per stock in cash. Second, they neglected to engage with UniFirst in a truly meaningful way on the key, deal-breaking terms of the transaction.
"Cintas was unable to have substantive engagement with UniFirst regarding key transaction terms," stated Cintas CEO Todd Schneider.
American Electric Power was another provider to fall with the company’s stock falling almost 2%. The company has announced a $2 billion secondary sale of common stock. This move is prompting a large drop in its share price.
Trump Media’s stock price jumped 9% in one day after the company released news of a partnership with Crypto.com. The partnership has big plans to introduce a whole suite of new exchange-traded funds and related products along with enhancing investor education, excitement and engagement.
Cloudflare's shares rose by 5.7% as Bank of America upgraded the company's rating from underperform to buy. This widespread and positive change in analyst sentiment helped spark a jump in Cloudflare’s stock price.