Dow Rises More Than 100 Points; Korn Ferry Earnings Exceed Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 09 2025
0mins
Source: Benzinga
U.S. Stock Market Performance: U.S. stocks saw gains, with the Dow Jones up 0.33%, NASDAQ rising 0.20%, and S&P 500 increasing by 0.18%. Energy shares led the sectors with a 1.8% rise, while materials stocks fell by 1.5%.
Notable Company Earnings: Korn Ferry reported strong second-quarter earnings, exceeding analyst expectations, while CaliberCos Inc. shares surged 700% after acquiring Chainlink tokens. Conversely, Core & Main, Inc. shares dropped 23% due to mixed financial results.
Commodity Market Updates: Oil prices increased by 1.6% to $63.25, while gold rose 0.3%. Silver saw a decline of 1%, and copper experienced a slight increase of 0.1%.
Global Market Trends: European shares were mixed, with the STOXX 600 slightly down, while Asian markets closed mixed as well, with Japan's Nikkei 225 falling and Hong Kong's Hang Seng gaining.
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Analyst Views on CNM
Wall Street analysts forecast CNM stock price to rise
9 Analyst Rating
6 Buy
2 Hold
1 Sell
Moderate Buy
Current: 45.980
Low
40.00
Averages
58.88
High
65.00
Current: 45.980
Low
40.00
Averages
58.88
High
65.00
About CNM
Core & Main, Inc. specializes in advancing reliable infrastructure with local service, nationwide. The Company, as a specialty distributor with a focus on water, wastewater, storm drainage and fire protection products and related services, provides solutions to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets. With more than 370 locations across the United States, the Company provides its customers with local expertise backed by a national supply chain. The Company also has operations in Canada. The Company's products include pipes, valves, fittings, storm drainage products, fire protection products, meter products and other products. The Company complements its core products through additional offerings, including fusible high-density polyethylene (fusible HDPE) piping solutions, specifically engineered treatment plant products, geosynthetics and erosion control products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Core & Main Launches $750M Senior Notes Offering
- Financing Initiative: Core & Main announced a $750 million senior notes offering due in 2034, which is expected to be used to repay a portion of its senior term loan maturing in 2028, thereby optimizing the company's capital structure.
- Use of Proceeds: The proceeds from this offering will be allocated for general corporate purposes, including organic growth investments, acquisitions, and share repurchases, aimed at enhancing the company's market competitiveness and financial flexibility.
- Sales Outlook: Core & Main reaffirmed its fiscal 2026 net sales outlook of $7.8 billion to $7.9 billion while targeting 8 to 10 new greenfield openings to support ongoing growth.
- Earnings Performance: The latest earnings report revealed a non-GAAP EPS of $0.72, beating expectations by $0.15, with revenue of $1.91 billion exceeding forecasts by $20 million, indicating strong market demand and operational efficiency.
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Surge in Options Trading Volume for MSG and CNM
- Active Options Trading for MSG: Madison Square Garden Sports Corp (MSGS) saw options trading volume of 1,820 contracts today, representing approximately 182,000 shares, which is about 73.8% of its average daily trading volume of 246,540 shares over the past month, indicating strong market interest in its future performance.
- High Strike Call Options: Within MSGS, the $390 strike call option has seen 492 contracts traded today, equating to approximately 49,200 shares, reflecting investor expectations for the stock's upward movement before the June 18, 2026 expiration.
- Surge in CNM Options Trading: Core & Main Inc (CNM) experienced an options trading volume of 16,608 contracts today, representing around 1.7 million shares, or approximately 72.6% of its average daily trading volume of 2.3 million shares over the past month, showcasing strong market interest in its stock.
- Concentration in Call Options: For CNM, the $52.50 strike call option has seen 8,464 contracts traded today, representing about 846,400 shares, indicating a strong bullish sentiment among investors for the stock ahead of the June 18, 2026 expiration.
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Core & Main Q1 Earnings Exceed Expectations
- Earnings Beat: Core & Main reported a Q1 non-GAAP EPS of $0.72, exceeding expectations by $0.15, which reflects the company's strong profitability and boosts investor confidence.
- Stable Revenue: The company achieved revenue of $1.91 billion, flat year-over-year, beating market expectations by $20 million, indicating a stable sales performance in a competitive market environment.
- Full-Year Outlook Reaffirmed: Core & Main reaffirmed its fiscal 2026 outlook, projecting net sales between $7.8 billion and $7.9 billion, reflecting a growth of 2% to 3%, demonstrating management's confidence in future growth.
- Adjusted EBITDA Metrics: The company expects adjusted EBITDA to range from $950 million to $980 million, with an adjusted EBITDA margin of 12.2% to 12.4%, indicating ongoing efforts in cost control and profitability enhancement.
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Core & Main Reports Strong Q1 2026 Earnings with Stable Guidance
- Strong Financial Performance: Core & Main reported Q1 fiscal 2026 net sales of $1.9 billion, adjusted EBITDA of $226 million, and adjusted EPS of $0.72, indicating a solid financial foundation amid strong municipal demand.
- Market Demand Analysis: While municipal demand remains robust with approximately 95% of water infrastructure funding supported by state and local sources, the residential market faces challenges, with near-term activity expected to be influenced by interest rates and affordability, reflecting market uncertainty.
- Expansion Plans: The company opened five new greenfield locations during the quarter and plans to establish eight to ten in fiscal 2026, demonstrating a proactive strategy to capture market opportunities and expand geographic coverage.
- Shareholder Returns: Year-to-date, the company has deployed $125 million in share repurchases, approximately 80% of the total from fiscal 2025, highlighting its commitment to shareholder returns while continuously optimizing its capital structure.
See More
Core Main (CNM) Q3 2025 Earnings Transcript
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Core and Main (CNM) Q1 2026 Earnings Transcript
See More
Core & Main Launches $750M Senior Notes Offering
- Financing Initiative: Core & Main announced a $750 million senior notes offering due in 2034, which is expected to be used to repay a portion of its senior term loan maturing in 2028, thereby optimizing the company's capital structure.
- Use of Proceeds: The proceeds from this offering will be allocated for general corporate purposes, including organic growth investments, acquisitions, and share repurchases, aimed at enhancing the company's market competitiveness and financial flexibility.
- Sales Outlook: Core & Main reaffirmed its fiscal 2026 net sales outlook of $7.8 billion to $7.9 billion while targeting 8 to 10 new greenfield openings to support ongoing growth.
- Earnings Performance: The latest earnings report revealed a non-GAAP EPS of $0.72, beating expectations by $0.15, with revenue of $1.91 billion exceeding forecasts by $20 million, indicating strong market demand and operational efficiency.
See More
Surge in Options Trading Volume for MSG and CNM
- Active Options Trading for MSG: Madison Square Garden Sports Corp (MSGS) saw options trading volume of 1,820 contracts today, representing approximately 182,000 shares, which is about 73.8% of its average daily trading volume of 246,540 shares over the past month, indicating strong market interest in its future performance.
- High Strike Call Options: Within MSGS, the $390 strike call option has seen 492 contracts traded today, equating to approximately 49,200 shares, reflecting investor expectations for the stock's upward movement before the June 18, 2026 expiration.
- Surge in CNM Options Trading: Core & Main Inc (CNM) experienced an options trading volume of 16,608 contracts today, representing around 1.7 million shares, or approximately 72.6% of its average daily trading volume of 2.3 million shares over the past month, showcasing strong market interest in its stock.
- Concentration in Call Options: For CNM, the $52.50 strike call option has seen 8,464 contracts traded today, representing about 846,400 shares, indicating a strong bullish sentiment among investors for the stock ahead of the June 18, 2026 expiration.
See More
Core & Main Q1 Earnings Exceed Expectations
- Earnings Beat: Core & Main reported a Q1 non-GAAP EPS of $0.72, exceeding expectations by $0.15, which reflects the company's strong profitability and boosts investor confidence.
- Stable Revenue: The company achieved revenue of $1.91 billion, flat year-over-year, beating market expectations by $20 million, indicating a stable sales performance in a competitive market environment.
- Full-Year Outlook Reaffirmed: Core & Main reaffirmed its fiscal 2026 outlook, projecting net sales between $7.8 billion and $7.9 billion, reflecting a growth of 2% to 3%, demonstrating management's confidence in future growth.
- Adjusted EBITDA Metrics: The company expects adjusted EBITDA to range from $950 million to $980 million, with an adjusted EBITDA margin of 12.2% to 12.4%, indicating ongoing efforts in cost control and profitability enhancement.
See More
Core & Main Reports Strong Q1 2026 Earnings with Stable Guidance
- Strong Financial Performance: Core & Main reported Q1 fiscal 2026 net sales of $1.9 billion, adjusted EBITDA of $226 million, and adjusted EPS of $0.72, indicating a solid financial foundation amid strong municipal demand.
- Market Demand Analysis: While municipal demand remains robust with approximately 95% of water infrastructure funding supported by state and local sources, the residential market faces challenges, with near-term activity expected to be influenced by interest rates and affordability, reflecting market uncertainty.
- Expansion Plans: The company opened five new greenfield locations during the quarter and plans to establish eight to ten in fiscal 2026, demonstrating a proactive strategy to capture market opportunities and expand geographic coverage.
- Shareholder Returns: Year-to-date, the company has deployed $125 million in share repurchases, approximately 80% of the total from fiscal 2025, highlighting its commitment to shareholder returns while continuously optimizing its capital structure.
See More
Core Main (CNM) Q3 2025 Earnings Transcript
See More
Core and Main (CNM) Q1 2026 Earnings Transcript
See More
