Market Updates
U.S. Movers: Casella Waste Systems, General Mills, Intuitive Machines
Scott Peters
18 Sep, 2024
New York City
Casella Waste Systems declined 4.5% to $101.50 after the recycling company announced its plans to raise $400 million in an equity offering of Class A common stock.
General Mills declined 0.8% to $73.90 after the food product maker reported that higher input costs negatively impacted its margins.
Net revenue in the fiscal first quarter ending on August 25 decreased 1% to $4.8 billion from $4.9 billion, net income dropped 14% to $579.9 million from $673.5 million, and diluted earnings per share fell 10% to $1.03 from $1.14 a year ago.
The company reaffirmed its fiscal year estimates and said adjusted diluted earnings per share are expected to range between a decrease of 2% and flat in constant currency.
Intuitive Machines soared 47% to $7.91 after the company was awarded a contract by NASA that could be worth up to $4.8 billion.
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