Cintas Corporation Shares Surge on Strong Fiscal Q3 Earnings and Raised Guidance

Cintas Corporation's stock rose 9% after the company reported fiscal Q3 earnings that exceeded analysts' expectations. Earnings per diluted share increased to $3.84 from $3.14 a year earlier, surpassing the expected $3.58. Revenue also grew to $2.41 billion from $2.19 billion, beating the forecast of $2.39 billion. The company has raised its fiscal 2024 guidance, now expecting earnings of $14.80 to $15.00 per diluted share, up from the prior guidance of $14.35 to $14.65. Revenue projections for the fiscal year have also been increased to between $9.57 billion and $9.60 billion, compared to the earlier outlook of $9.48 billion to $9.56 billion.

Royal Gold Shares Climb After BMO Capital Upgrade

Royal Gold's stock increased by over 7% after BMO Capital upgraded the company's rating to outperform from market perform and raised its price target to $158 from $148. The upgrade prompted a positive response from investors, leading to a notable rise in the company's share price.


Xpeng drops as VinFast Expands in Thailand with New Dealership Agreements

EV maker Xpeng fell 8% after VinFast, the Vietnamese electric vehicle maker, signed partnership agreements with 15 dealers in Thailand, marking a significant step in its Southeast Asia expansion. This move comes as Thailand aims to convert 30% of its annual vehicle production to EVs by 2030. VinFast's entry into the Thai market coincides with strong sales from Chinese EV brands and Tesla's discussions for a production facility in the country. VinFast plans to open 22 showrooms in the Greater Bangkok Area and aims to expand to 50 countries globally.

Gambling Stocks Decline Amid Federal Scrutiny Concerns

Shares of DraftKings (-6.8%) and Flutter Entertainment fell sharply following reports of federal scrutiny over online gambling companies' VIP programs. Senator Richard Blumenthal has urged companies like DraftKings, FanDuel, Caesars Entertainment (CZR), and MGM Resorts International's BetMGM to cease using player data to target customers with gambling problems. The companies have been asked to provide information on their data collection and usage, and whether they would agree to end their VIP programs. 

Celsius Holdings Amends PepsiCo Distribution Deal

Celsius Holdings' shares fell by 6.7% after announcing an amendment to its distribution agreement with PepsiCo. The revised agreement includes an incentive program to reward PepsiCo for promoting and selling Celsius' products. The original agreement, signed in 2022, has been effective since March 23. The specifics of the incentive program were not disclosed.