Cal-Maine Foods, a well-known food company, has reported a disappointing fiscal first-quarter profit. Analysts' estimates were not met, and the company's revenue witnessed a decline of approximately 30%. The main factor contributing to this decline is the significant drop in egg prices. Cal-Maine Foods experienced a notable decrease in the average selling price for conventional eggs, which fell by about half. As a result of these disappointing numbers, the company's shares fell 12% to $41.76 after-hours.
A10 Networks Anticipates Revenue Decline in Third Quarter
In preliminary results, A10 Networks, a cloud security software company, expects third-quarter revenue to fall below analysts' estimates. The company attributes this anticipated decline to delays from customers that have caused deals to be postponed to future reporting periods. Unfortunately, this news has impacted the company's shares negatively, falling 17% to $12.57 after-hours.
Brooge Energy Receives Buyout Offer from Gulf Navigation
Brooge Energy, an energy company, recently received a buyout offer from Gulf Navigation, a prominent maritime and shipping company based in Dubai. While Brooge Energy has not yet responded to the offer, they did not disclose the terms of the bid. On the other hand, GulfNav remains optimistic that the transaction could be finalized by the fourth quarter. This positive news resulted in Brooge Energy's shares rising 26% to $6.92 after-hours.
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