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☆ Ahead of retail earnings, here's what we know about the consumer so far
▼ + stars: | 2024-05-07 | by ( Robert Hum | ) www.cnbc.com time to read: +5 min

There are signs that the U.S. consumer is still spending, especially on experiences. But stubbornly high prices are squeezing consumers with lower incomes, pressuring everyday purchases and corporate profits. Broadly speaking, credit card companies like American Express, Visa and MasterCard have described spending trends as "relatively strong," "relatively stable," and even "healthy." Priceline parent Booking Holdings told analysts there are no signs consumers are taking shorter vacations or trading down in their hotel choices. McDonald's added that "the consumer is certainly being very discriminating in how they spend their dollar."

Persons: Brandon Bell, Morgan Stanley's Michael Wilson, Morgan Stanley, Mike Stocker, Stanley Black, Decker, —, Anton Pinsky, Beata Zawrzel, Laxman Narasimhan, Shack, Domino's, Pavlo Gonchar Organizations: Getty, Home Depot, Walmart, American Express, Visa, MasterCard, PayPal, Booking Holdings, Las, Port, Tribune, Service, Consumers, Whirlpool, Corp, Starbucks Corp, Nurphoto, Lightrocket Locations: Austin , Texas, U.S, Las Vegas, Port of Miami, Krakow, Poland, Russia, Ukraine

☆ Fast food chains are getting the message about soaring prices
▼ + stars: | 2024-05-06 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

To win penny-pinching customers back, some say they're planning smaller price increases for the rest of the year. Wendy's CFO Gunther Plosch told investors on Thursday that consumers are "still under pressure" — especially those with household incomes under $75,000. Chains raised prices drastically during the pandemic to offset rising labor and food costs, and it's coming back to bite them. For some restaurant chains, comparable sales even fell. McDonald's would "certainly" be "prudent and thoughtful" about any further price increases in the rest of 2024, Borden said.

Persons: —, Gunther Plosch, Ian Borden, Joshua Kobza, Burger, Popeyes, Burger King, Wendy's, William Blair, Sharon Zackfia, Borden, Katie Fogertey Organizations: Service, Starbucks, KFC, US, Bureau of Labor Statistics Locations: Burger, North America

☆ Don't worry, your Shake Shack burger shouldn't get any more expensive this year
▼ + stars: | 2024-05-03 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Shake Shack doesn't currently plan to increase prices again this year, CFO Katie Fogertey said. Overall, menu prices went up in the mid-single digits in the quarter, she said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Some diners have said that rising prices at fast-food and fast-casual chains are putting them off. Shake Shack raised menu prices by about 3% in mid-March, CFO Katie Fogertey told investors on Thursday.

Persons: Katie Fogertey, — Organizations: Service, Starbucks, Business

☆ Stocks making the biggest moves midday: Apple, Peloton, Wayfair, Carvana and more
▼ + stars: | 2024-05-02 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Apple — Shares ticked up roughly 2% ahead of the iPhone maker's second-quarter results due after the closing bell. Wayfair said it lost 32 cents per share on an adjusted basis, narrower than the estimate of a loss of 44 cents from analysts polled by LSEG. Etsy reported adjusted earnings of 48 cents per share, while analysts polled by LSEG called for 49 cents a share. EBay said it expects revenue in the range of $2.49 billion to $2.54 billion, while analysts polled by LSEG forecast $2.56 billion. Qorvo now expects earnings of 60 cents to 80 cents per share, while analysts polled by FactSet expected $1.27.

Persons: Barry McCarthy, Wayfair, Cigna, DoorDash, Etsy, LSEG, Zillow, Qorvo, FactSet, — CNBC's Pia Singh, Tanaya Macheel, Samantha Subin, Hakyung Kim, Lisa Kailai Han, Alex Harring Organizations: Apple, —, Qualcomm, LSEG . Revenue, Moderna, LSEG, eBay —, EBay, Revenue

☆ Stocks making the biggest premarket moves: Peloton, Carvana, Cigna, Qualcomm and more
▼ + stars: | 2024-05-02 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Carvana — The used car seller spiked 36% after posting first-quarter revenue Wednesday of $3.06 billion, above analysts' consensus estimate of $2.67 billion. Cigna — The insurer moved 1% higher after first-quarter adjusted earnings of $6.47 per share topped the $6.22 expected from analysts polled by LSEG. Zillow estimated second-quarter revenue of $525 million to $540 million, versus $559.2 million expected from analysts polled by FactSet. Freshworks — The software development company plunged 27% after projecting second-quarter revenue of $168 million to $170 million and full-year revenue of $695 million to $705 million. Analysts polled by FactSet expected $172.1 million for the quarter and $708.3 million for the year.

Persons: Barry McCarthy, Carvana, Morgan Stanley, Cardinal, Nio, Zillow, LSEG, FactSet, Qorvo, —, Jesse Pound, Lisa Han, Pia Singh, Tanaya Macheel Organizations: Qualcomm, LSEG, LSEG . Revenue, Health, FactSet, eBay Locations: Nio —, LSEG

☆ 12 portfolio companies report earnings in the week ahead. What we want to hear from each
▼ + stars: | 2024-04-27 | by ( Zev Fima | ) www.cnbc.com time to read: +15 min

The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.

Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York

Has South Africa Truly Defeated Apartheid? U.S.A., 2020 – 63% U.K., 2019 – 62% 60% 49% 40% 20% 1994 2004 2014 2019 Sources: Collette Schulz-Herzenberg, "The South African non-voter: An analysis"; Konrad Adenaur Stiftung, 2020 (South Africa); Pew Research (United States and U.K.)On a continent where coups, autocrats and flawed elections have become common, South Africa is a widely admired exception. −4% −6% Sources: Harvard Growth Lab analysis of World Economic Outlook (South Africa and sub-Saharan Africa) and World Development Indicators (upper-middle-income countries). 50% unemployment rate 40% Black unemployment rate 30% The unemployment gap between Black and white South Africans remains wide. In 2022, about 6 percent of South Africans aged 18 to 29 were enrolled in higher education, according to Statistics South Africa.

Persons: Nelson Mandela, they’ve, Collette Schulz, Konrad Adenaur Stiftung, —, Walter Sisulu, Joao Silva, New York Times Jack Martins, ”, Mandela’s, Wandile Sihlobo, Johann Kirsten, Sihlobo, Kirsten, haven’t, Zinhle Nene, Peter Mokoena, “, Mokoena, Nokuthula Mabe, Mabe, Jacob Zuma, Chrispin Phiri, Cyril Ramaphosa, Israel, Sibusiso Zikode, Zikode, Mr Organizations: African National Congress, Pew Research, Human Sciences Research, World Bank, Black South, Charter, New York Times, University of Cape Town’s Liberty Institute of Strategic Marketing, Johannesburg Stock Exchange, Economic Empowerment, South, Harvard, Economic, Government, Black, Mr, Stellenbosch University . White, Statistics, Security, JOHANNESBURG Jobs, JOHANNESBURG Sandton Downtown, West University, Education, Statistics South, General Household Survey, of, Stellenbosch University, Ministry of Justice and Correctional Services, Institute for Security Studies, International Court of Justice Locations: Africa, South Africa, Black, States, Soweto, Kliptown, Johannesburg, South, Saharan Africa, Carletonville, JOHANNESBURG, Downtown Soweto, JOHANNESBURG Sandton, JOHANNESBURG Sandton Downtown Soweto, North, Mahikeng, Botswana, Statistics South Africa, Brazil, Mexico, Philippines, African, Germany, Russia, India, China, Ethiopia, Burundi, Zimbabwe, Ukraine, New York Times South Africa, Gaza, Durban, South Africa’s

☆ A Chick-fil-A worker who got millions of views with TikToks of her staff meals says the company stopped her from posting. Now she's quit to become a content creator.
▼ + stars: | 2024-04-24 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Read previewA former Chick-fil-A worker said that the fried-chicken chain asked her to stop posting videos of her staff meals on TikTok because she was breaking company policy. Food reviews are hot stuffRestaurant reviews and food rankings are popular topics for TikTok videos. Webb's last Chick-fil-A video before the company's PR team contacted her, which has 3.4 million views, shows her reviewing the four drinks in its limited-edition Cherry Berry range. AdvertisementWebb's TikTok account also features videos of her reviewing her staff meals at Aldi, where she also has a job. In her video announcing the end of her Chick-fil-A staff meal videos, Webb said that other brands wanting to collaborate with her should reach out.

Persons: —, Miriam Webb, Webb, Chick, I'm, Miriam Webb's, Cherry Berry, commenter Organizations: Service, Business, PR, Aldi Locations: Los Angeles County, TikTok

☆ A major Burger King franchisee in California says he can't roll out order kiosks fast enough due to the state's new $20 fast-food minimum wage
▼ + stars: | 2024-04-12 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

A huge Burger King franchisee is rushing to cut costs over California's $20 minimum wage for fast-food workers. AdvertisementA major fast-food franchisee in California says he's rushing to roll out digital order kiosks as part of plans to cut costs over the state's new $20 minimum wage for fast-food workers. Ghai said he owns 180 fast-food restaurants in California, including about 140 Burger King locations and numerous Taco Bell and Popeyes restaurants. Ghai says he can't raise prices any moreThe new minimum wage, which applies to limited-service restaurant chains with at least 60 locations nationwide, came into effect on April 1. It's 25% higher than the state's general minimum wage of $16 an hour, though many cities and counties in California have set theirs higher.

Persons: —, Harsh Ghai, Ghai, he's, Shack, Burger King, Taco Bell Organizations: Burger King, Service, Taco Bell, BI, Taco Locations: California, West Coast, Burger

☆ California just hiked minimum wage for fast food workers. Some restaurants are replacing them with kiosks
▼ + stars: | 2024-04-11 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +9 min

New York CNN —California just raised the minimum wage for the state’s fast food sector workers by $4 to $20. And, although many casual observers disagree, higher wages for fast food workers could actually help fast food owners, Dongoski said. The employment level in fast food restaurants still hasn’t reached pre-pandemic levels. This has nothing to do with minimum wage.”However, the minimum wage increase serves as an accelerant, Brown said. The changes are necessary, said Ghai, who employs 3,700 fast food workers in California.

Persons: ”, Rob Dongoski, Dongoski, hasn’t, ” Dongoski, McDonald’s, Katie Fogerty, “, David Paul Morris, Burger, Marbue Brown, we’ve, ” Brown, that’s, Brown, “ It’s, Taco, Ghai, “ Everyone’s, ” Ghai, he’s, Harsh Ghai, Condie, ” Condie Organizations: New, New York CNN, Bloomberg, Getty, Burger, Taco Bell, CNN, California Restaurant Association Locations: New York, California, Kearney, Larkspur , California, New York City

☆ Goldman Sachs money manager: Be selective with small caps because prices ‘can go down with great velocity'
▼ + stars: | 2024-04-08 | by ( Anna Gleason | ) www.cnbc.com time to read: +2 min

Goldman Sachs sees opportunities in small-cap stocks — even as the Russell 2000 finishes its worst week since early January. "I do think that you have to be very selective in small caps because things can go down with great velocity," he told CNBC's " Fast Money " on Thursday. "Within the Russell 2000, you have a lot of stuff that you probably don't want to own," he said. Even with the losing week, the Russell 2000 is up almost 2% for the year, as of Friday's market close. "Other financial conditions have eased a bit, which is also helpful for small caps.

Persons: Goldman Sachs, Russell, Greg Tuorto, CNBC's, Tuorto Organizations: Core Equity ETF, Federal Signal Corp, SPX Technologies, Federal Reserve, Nvidia, Innovation Locations: Cava, Cava —

☆ Fast-food chains like Burger King, Shake Shack, and KFC are doubling down on digital order kiosks — but watch out, you'll probably end up spending more
▼ + stars: | 2024-04-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

Fast-food giants are rapidly deploying more order kiosks in the US. AdvertisementMajor US fast-food chains plan to aggressively add more digital order kiosks to their restaurants – and bring in bigger checks in the process. They make up "well over" half of its in-restaurant orders at these locations, CFO Katie Fogertey told investors in November. As well as labor savings, kiosk orders "tend to skew to dine-in" and thus use less packaging than other digital orders, she said. In the US, digital orders currently make up just 15% of Burger King's sales.

Persons: Patrick Doyle, —, Burger, Josh Kobza, Shack, Katie Fogertey, Chris Turner, Turner, Sharon Zackfia, William Blair, Fogertey, Grace Dean, Randy Garutti, cashiers, Fogerty, Andy Barish, Jon Tower, Kobza, Zackfia, Barish, Popeyes, Tim Hortons Organizations: Service, Restaurant Brands, Brands, Taco Bell, KFC, Business, Jefferies, Citi, Burger, Firehouse, North Star Locations: Taco, China, London, millennials

☆ Treasure-hunter using a faulty metal detector discovered England's 'largest' gold nugget worth $38,000
▼ + stars: | 2024-03-24 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +4 min

A metal detectorist found what he believes is the largest gold nugget ever found in England. AdvertisementA metal detectorist in England found what might be the biggest gold nugget ever found in the country, worth an estimated £30,000 or around $38,000. Richard Brock unearthed the gold nugget, which weighs 64.8 grams, in England's Shropshire Hills — despite turning up to the search late and using faulty equipment. The most expensive metal detector can cost $15,000, but starter models are available for a few hundred dollars. While Brock celebrates his gold nugget find in England, it pales compared to one of the greatest discoveries with a metal detector.

Persons: —, Richard Brock, Brock, I'd, Mullock Jones, Simon Beresford, Cortez Organizations: Service, YouTube, Guardian, Shack Locations: England, England's Shropshire, Mexico

☆ Shake Shack founder Danny Meyer invests $20 million in indoor golf experience company Five Iron
▼ + stars: | 2024-03-12 | by ( Ian Thomas | ) www.cnbc.com time to read: +2 min

That led Meyer to take a lesson with a golf pro on an indoor simulator, an experience that eventually led him and his investment firm, Enlighted Hospitality Investments, to make a $20 million minority investment in Five Iron Golf, an indoor golf and entertainment company. Five Iron Golf, founded in 2017, has grown as it has looked to appeal to several types of golfers, according to CEO Jared Solomon. "The core of Five Iron Golf is to be the best place for the serious golfer as well as the entertainment-type person," Solomon said. But the amount of people who are only playing golf on courses is decreasing, down 9% from the previous year. In fact, there are more players now playing at golf entertainment venues like Topgolf , standalone driving ranges, and businesses like Five Iron Golf with simulator and screen golf setups than there are players playing on a course, according to the NGF data.

Persons: Danny Meyer, hasn't, Meyer, we've, Jared Solomon, Solomon Organizations: Shake, Enlighted Hospitality Investments, National Golf Foundation Locations: U.S

☆ Stocks making the biggest moves midday: Victoria's Secret, Novo Nordisk, Intel, Shake Shack and more
▼ + stars: | 2024-03-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Victoria's Secret said it anticipates a larger-than-expected decline in revenues for the first quarter and full year. Novo Nordisk — Shares rallied nearly 8.9% to record high level after the company reported positive Phase I trial results for its new experimental weight loss drug amycretin. The company reported adjusted earnings of 61 cents per share on $1.68 billion in revenue for its fiscal fourth quarter. Analysts had estimated earnings of 50 cents per share on $1.67 billion in revenue, according to LSEG. Burlington Stores — The stock rose 7.5% after Burlington posted a fourth-quarter beat on adjusted earnings per share and revenue.

Persons: Victoria's, amycretin, TD Cowen, Shake Shack's, Kroger, LSEG, Iberdrola, Avangrid's, Mizuho, —, Samantha Subin Organizations: Novo Nordisk —, American Eagle Outfitters, Burlington Stores, Burlington, New York Community Bancorp, Liberty Strategic, VanEck Semiconductor, Nvidia, Micron Technology, Stifel, Intel, Bloomberg Locations: Spanish

☆ Mideast Starbucks franchisee firing 2,000 workers after being targeted in Israel-Hamas war boycott
▼ + stars: | 2024-03-05 | by ( ) www.cnbc.com time to read: +2 min

The Middle East franchisee of Starbucks said Tuesday it has begun firing around 2,000 workers at its coffee shops across the region after the brand found itself targeted by activists during the ongoing Israel-Hamas war in the Gaza Strip. Alshaya runs about 1,900 Starbucks branches in Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Turkey and United Arab Emirates. Since the beginning of the war on Oct. 7, Starbucks has found itself alongside other Western brands targeted by pro-Palestinian activists over the war. In October, Starbucks sued Workers United, which has organized workers in at least 370 U.S. Starbucks stores. Starbucks isn't the only brand targeted by activists in the war.

Persons: Alshaya, Boycotters Organizations: East, Starbucks, Reuters, Workers United, Israel, McDonald's Locations: Israel, Gaza, Kuwait, Bahrain, Egypt, Jordan, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Turkey, United Arab Emirates, Seattle, U.S

DUBAI, United Arab Emirates (AP) — The Middle East franchisee of Starbucks said Tuesday it has begun firing around 2,000 workers at its coffee shops across the region after the brand found itself targeted by activists during the ongoing Israel-Hamas war in the Gaza Strip. Alshaya runs about 1,900 Starbucks branches in Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Turkey and United Arab Emirates. Since the beginning of the war on Oct. 7, Starbucks has found itself alongside other Western brands targeted by pro-Palestinian activists over the war. “We do not use our profits to fund any government or military operations anywhere — and never have.”In October, Starbucks sued Workers United, which has organized workers in at least 370 U.S. Starbucks stores. Starbucks isn't the only brand targeted by activists in the war.

Persons: Alshaya, “, Boycotters Organizations: United Arab Emirates, East, Starbucks, Reuters, Workers United, Israel, McDonald's Locations: DUBAI, United Arab, Israel, Gaza, Kuwait, Bahrain, Egypt, Jordan, Lebanon, Morocco, Oman, Qatar, Saudi Arabia, Turkey, United Arab Emirates, Seattle, U.S

☆ This burger play is breaking out on heavy volume. How to trade it using charts
▼ + stars: | 2024-02-27 | by ( Todd Gordon | ) www.cnbc.com time to read: +4 min

Let's breakdown the potential breakout in Shake Shack (SHAK) . Shake Shack recently reported exceptional earnings and the stock has jumped on strong trading volume. On the way back we stopped at Shake Shack in the Denver airport and the consensus was 8 out of 10. On Feb 15, SHAK reported earnings and revenue ahead of expectation. Breaking down the chart Turning to the technicals, the breakout through the $80 resistance level on significant volume following those fourth-quarter earnings was very impressive.

Persons: Shake Shack, SHAK, Randy Garutti, Gordon Organizations: Shake, Edge Locations: San Diego, U.S, Breckenridge, Denver, West Coast, East Coast

☆ Wingstop says its chicken sandwiches are bringing in a new type of customer: richer, kid-free millennials and Gen Zers
▼ + stars: | 2024-02-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

AdvertisementSkipworth told investors at the company's previous earnings call in November that these customers tend to be Gen Zers or millennials. "A lot of these new guests that are coming in are coming in through the chicken sandwich occasion initially," he said. Wingstop was late to join the so-called chicken sandwich wars, which kicked off when Popeyes launched its spicy chicken sandwich in 2019 to compete with Chick-fil-A. Rivals including McDonald's and Wendy's have also been bolstering up their chicken sandwich offerings in response. AdvertisementChains including McDonald's, Shake Shack, and Taco Bell have told customers to expect modest menu price increases in 2024 as inflation cools.

Persons: Michael Skipworth, Skipworth, Wingstop, Popeyes, Alex Kaleida, Taco Bell Organizations: Rivals, McDonald's, Taco Locations: California

BANGKOK (AP) — Shares advanced in Asia on Friday, with Tokyo's benchmark Nikkei 225 index trading near a record high, 35 years after it peaked and then plunged with the collapse of Japan's financial bubble. U.S. futures were lower after stocks on Wall Street set a fresh record following some mixed reports on the economy. It has been hovering just below the record high of 38,915.87 that it set on Dec. 29, 1989, right before a plunge in share and property prices ushered in an era of slower, faltering growth. Taiwan's Taiex edged 0.2% lower a day after breaching a record high of 18,644.57 as major market mover TSMC, the world's biggest computer chip maker, surged nearly 8%. On Thursday, the S&P 500 rose 0.6% to 5,029.73, squeaking past its all-time high set last week.

Persons: Australia's, Shack, Wells Organizations: —, Nikkei, Nvidia, Dow Jones Industrial, Nasdaq, U.S, Treasury, Federal Reserve, Fed, CBRE, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Hong, Seoul, India, Wall

☆ Diners are getting annoyed at how expensive fast food has become — and the likes of McDonald's, Taco Bell, and Shake Shack seem to be listening
▼ + stars: | 2024-02-16 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

AdvertisementChains like McDonald's, Shake Shack, and Taco Bell say they're only planning small price increases in 2024 as inflation cools. But in the year to January 2024, prices at limited-service restaurants rose just 5.8%, per BLS data. Martin Jennings, a 51-year-old truck driver from Florida, told Business Insider that his family was being deterred by higher prices at fast-food chains. Customers are looking for app deals and choosing value menusCustomers are looking for ways to get cheaper meals at fast-food chains. Chipotle said it's eyeing a price increase in the mid-single digits, depending on consumer sentiment and actions taken by other fast-food chains.

Persons: —, Taco Bell, Martin Jennings, Ben Heyworth, Burger King, McDonald's, Ian Borden, Jennings, David Gibbs, Kempczinski, Gunther Plosch, Chipotle, it's, Katie Fogertey Organizations: Service, Bureau of Labor Statistics, Shack, Taco, Brands Locations: Florida, Orlando, Burger, Taco Bell, California, America

☆ Shake Shack stock surges 20% on fourth-quarter profit, strong 2024 outlook
▼ + stars: | 2024-02-15 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +1 min

With Thursday morning's gains, the stock reached a new 52-week high of $95.80 and is up more than 50% in the last twelve months. Earnings per share increased to a 15-cent profit from a 20-cent loss during the year-ago period. Adjusting for one-time items, Shake Shack reported earnings per share of 2 cents. The burger chain also saw a 20% increase in revenue year-over-year and opened 15 new restaurants during the quarter. "Our leadership teams are energized and excited as we embark on our 2024 Strategic Priorities and target another year of strong growth and margin expansion."

Persons: Shake Shack, Randy Garutti Organizations: Shake, Shack, Shake Shack Locations: LSEG

☆ Chart of the Day: Shake Shack
▼ + stars: | 2024-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChart of the Day: Shake ShackJosh Brown, CEO at Ritholtz Wealth Management, joins 'Halftime Report' to discuss Shake Shack's earnings beat and the stock surging to a new 52-week high.

Persons: Josh Brown Organizations: Ritholtz Wealth Management

☆ Final Trades: Invesco’s Equal Weight Energy ETF, Cardinal Health and Shake Shack
▼ + stars: | 2024-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Invesco’s Equal Weight Energy ETF, Cardinal Health and Shake ShackToday’s “Halftime Report” Investment Committee, Bryn Talkington, Josh Brown and Jason Snipe, give their top picks to watch for the second half.

Persons: Bryn Talkington, Josh Brown, Jason Snipe Organizations: Energy, Cardinal Health, Investment

☆ Stocks making the biggest moves midday: Cisco Systems, Twilio, Super Micro Computer and more
▼ + stars: | 2024-02-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Super Micro Computer — The technology name added 8.5% after Bank of America said shares could rise to $1,040, a Wall Street high. For the recent quarter, Applovin reported earnings of 49 cents per share and $953 million in revenue. However, the company beat first-quarter earnings and revenue estimates. JFrog — The software development stock skyrocketed 25% after topping Wall Street's fourth-quarter estimates. That topped FactSet estimates 12 cents per share in earnings on $93 million in revenue.

Persons: Twilio, Applovin, Deere, Tripadvisor, Albemarle —, — Coinbase, —, JFrog, Penn, Jesse Pound, Hakyung Kim, Alex Harring, Michelle Fox, Brian Evans, Christina Cheddar Berk Organizations: Cisco Systems, Cisco, LSEG, Bank of America, Wells, Currency, Deere, Albemarle, JPMorgan, Chrysler, Fiat, Penn Entertainment, ESPN Bet Locations: North Carolina

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