Centerspace, a real estate investment trust focused on apartments, surged over 8% after announcing a merger with Independence Realty Trust in an all-stock deal valued at $8.1 billion. Shareholders of Centerspace will receive approximately 3.8 shares of IRT common stock for each share they own.
Academy Sports and Outdoors also saw its shares rise by 8% after raising its adjusted earnings outlook for the fiscal year ending January 2027 to a range of $6.50 to $6.90 per share, exceeding the previous estimate and the FactSet consensus of $6.43. Meta Platforms bucked the market trend with a 6% increase following the introduction of a personal AI agent app.
Mission Produce's shares increased by 4% after it reported earnings and revenue that surpassed analyst expectations for its fiscal third quarter. Conversely, Apple’s shares dipped 1% as investors awaited an upcoming event where new iPhones, including a foldable model, are expected to be announced.
Casey's General Stores experienced a significant drop of over 15% despite beating earnings and revenue expectations, due to a slight decline in fuel sales and lower-than-expected growth in prepared food sales.
Signet Jewelers' shares jumped 19% after reporting better-than-expected second-quarter earnings of $2.19 per share, above the FactSet estimate of $1.74, and raising its full-year earnings guidance. ServiceTitan's shares plummeted over 30% after its third-quarter revenue guidance fell short of analyst estimates, despite beating second-quarter revenue expectations.
Braze's shares fell 19% after missing revenue estimates, although it did exceed earnings per share expectations. Chime Financial's shares rose 4% after reporting better-than-expected second-quarter earnings and projecting third-quarter revenue between $680 million and $690 million, surpassing the analysts' estimate of $640.6 million