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Teledyne FLIR Defense has secured a U.S. Army contract worth up to $32 million to equip Bulgaria's Stryker vehicles with advanced surveillance and targeting systems. The multi-year deal includes the installation of thermal imaging and radar technology, enhancing Bulgaria's military capabilities as part of a Foreign Military Sales arrangement. Teledyne's stock has seen a 19% increase over the past year, with shares trading at $567.50, up 0.88% in premarket trading.
Shares of Fastenal Co. (FAST) rose 1.73% to $42.42 on a day when the overall stock market declined, with the S&P 500 down 0.19% and the Dow Jones down 0.80%. Fastenal's stock is currently 16.22% below its 52-week high of $50.63. In comparison, competitors like Amazon.com Inc. fell 1.57%, while Home Depot and Lowe's saw slight increases. Trading volume for Fastenal was 9.4 million, surpassing its 50-day average of 7.0 million.
US equity index futures are down, with the Nasdaq 100 falling ~0.8% and the S&P 500 closing at a record high of 6,966.28. The CBOE implied correlation index has dropped significantly, indicating reduced stock correlations, which may affect diversification strategies. Traders are cautious as the correlation index is at its lowest since February 2025, with historical declines in the S&P 500 often following similar low correlation levels. The market remains on alert for potential volatility as correlations could spike again.
BofA Securities reports that convenience stores Casey's General Stores (CASY) and Murphy USA (MUSA) are enhancing their food and beverage offerings to boost in-store sales amid declining cigarette sales. Casey's is noted for its strong prepared foods and regional fuel performance, while Murphy USA is expected to underperform due to its reliance on fuel and nicotine. BofA rates Casey's as a buy with a $700 price target and Murphy USA as underperform with a $405 price target.
Wabtec Corporation has secured a $386 million order from New York’s MTA for R255 hybrid battery-diesel locomotives, including spare parts. Production will occur in Erie, Pennsylvania, with deliveries starting in 2027. The locomotives aim to replace older equipment and feature battery-only operation, onboard diagnostics, and monitoring cameras, supporting MTA's modernization efforts.
