Centerspace Jumps On All-Stock Merger With Independence Realty Trust

According to CNBC, Centerspace jumped more than 8% after it said it will merge with Independence Realty Trust in an all-stock deal that will create a residential REIT with an enterprise value of $8.1 billion. Under the terms, Centerspace shareholders will receive about 3.8 shares of IRT common stock for each Centerspace share. Academy Sports and Outdoors rose 8% after lifting its adjusted earnings outlook for the fiscal year ending January 2027 to $6.50 to $6.90 per share from $6.40 to $6.80, above the FactSet consensus estimate of $6.43. Meta Platforms gained 6% after unveiling a personal AI agent app late Tuesday. Mission Produce climbed 4% after beating FactSet-polled analyst estimates for both adjusted earnings per share and revenue in its fiscal third quarter. Apple fell 1% as traders awaited an event where it is expected to announce new iPhones, including a foldable model. Casey's General Stores dropped more than 15% after reporting mixed fiscal first-quarter results, with earnings and revenue topping expectations but fuel sales down 0.3% year over year and prepared food and dispensed beverage sales rising less than expected. Signet Jewelers jumped 19% after second-quarter adjusted earnings of $2.19 per share beat the FactSet estimate of $1.74, and the company raised full-year earnings guidance. ServiceTitan fell more than 30% after its third-quarter revenue guidance missed FactSet estimates, even as second-quarter revenue came in at $292.8 million versus $285.9 million expected and full-year revenue guidance was raised. Braze dropped 19% after missing revenue estimates, though it beat on earnings per share. Chime Financial rose 4% after reporting better-than-expected second-quarter earnings and saying it expects third-quarter revenue of $680 million to $690 million, above the $640.6 million analyst estimate.