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July 24 (Reuters) - Domino's Pizza (DPZ.N) missed Wall Street estimates for second-quarter revenue on Monday, as elevated delivery fees and higher prices to boost margins hurt demand for its pizzas and chicken wings. Shares of the world's largest pizza chain dropped 4% in premarket trading as Domino's said it saw lower order volumes during the quarter. Higher labor and raw material costs have forced restaurant chains, even the biggest names including McDonald's (MCD.N), to jack up menu prices and delivery fees, which hurt cost-conscious consumers whose budgets are already squeezed by sticky inflation. Domino's U.S. same-store sales rose 0.1% in the second quarter, compared with analysts' estimates of an about 0.2% increase. Domino's total revenue fell 3.8% to $1.02 billion in the three months ended June 18, compared with analysts' estimate of $1.07 billion, according to Refinitiv IBES data.
Persons: Domino's, Uber, Russell Weiner, Granth, Shinjini Organizations: Uber, Thomson Locations: U.S, Bengaluru
Last week, Netflix (NFLX.O) and Tesla (TSLA.O) posted less-than-stellar quarterly reports. The electric-vehicle maker eased 1.3% in premarket trading after UBS downgraded its rating on the stock, while other megacap growth and technology shares edged higher. ET, Dow e-minis were up 44 points, or 0.12%, S&P 500 e-minis were up 8.75 points, or 0.19%, and Nasdaq 100 e-minis were up 35.25 points, or 0.23%. AMC Entertainment (AMC.N) jumped 47.5% after a judge blocked the theater chain's stock conversion plan that risked diluting investors' holdings in the company. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru; Editing by Saumyadeb Chakrabarty and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
Persons: Barbie, Sophie Lund, Yates, Hargreaves Lansdown, Mattel, AMC's, Bansari Mayur Kamdar, Johann M, Saumyadeb Chakrabarty, Shounak Organizations: UBS, Dow, Nasdaq, Federal Reserve, Microsoft, Netflix, Reuters, Fed, Dow e, Warner Bros, AMC Entertainment, Global, PMI, Thomson Locations: Bengaluru
New York CNN —Domino’s is still suffering declines in its delivery business. But Domino’s (DPZ) still doesn’t want to use outside delivery drivers. Nathan Papes/Springfield News-Leader/USA Today Network/ImagnWeiner said that Domino’s is getting more applications for delivery drivers now than it did in 2019, an encouraging sign. In addition to the electric vehicles, Domino’s has more than 1,000 non-EV cars in its fleet, Weiner said on Monday. By using its own drivers, Domino’s has more control over the delivery experience.
Persons: New York CNN — Domino’s, Uber, Russell Weiner, Nathan Papes, Imagn Weiner, Domino’s, , Weiner, Sandeep Reddy, ” Reddy, Reddy, Christopher Carril, ” Weiner Organizations: New, New York CNN, Chevy, Springfield News, USA, RBC Capital Markets Locations: New York,
Looking to next week, earnings season will ramp up — and though we'll get some important economic data, expect the corporate releases and management commentary on the post-game calls to be firmly in the driver's seat. Here are two important things to know for the week ahead. Quarterly earnings : As important as economic releases are, it's earnings that will garner the bulk of investors' attention. For those looking to review first-quarter performance ahead of these releases, keep our first-quarter earnings report card handy. Here's the full rundown of all the important domestic data in the week ahead.
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A Subway outlet at a Delhi airport terminal announced the "Temporary Unavailability of TOMATOES" in a sign saying the restaurant could not get enough supply that passed its quality checks. Two weeks ago McDonald's restaurants in India dropped tomatoes from their burgers and wraps in many parts of India due to quality issues. In the capital New Delhi, tomatoes was retailing for about 168 rupees ($2.05) a kg (93 cents a pound) on Saturday, after touching around 240 rupees. The government blames the higher prices of tomatoes on a lean production season as monsoon rains disrupt transport and distribution. The government in recent weeks has organised mobile vans to supply tomatoes at cheaper rates, with hundreds queuing each day.
Persons: Krishn Kaushik, Riddhima Talwani, Aditya Kalra, Sriram Mani, Dhwani Pandya, Praveen Paramasivam, Euan Rocha, William Mallard Organizations: Subway, Brands, KFC, Thomson Locations: DELHI, Subway India, Delhi, New Delhi, Uttar Pradesh, Chennai, India
[1/5] A Domino's staff member stands next to a sign for a 49-rupee pizza at a restaurant in Noida, India, July 4, 2023. A: With the world's cheapest Domino's pizza. "You are coming to the store or open the app, because there is a 49-rupee callout," he said, adding that Domino's global team supported the plans. Domino's global HQ referred queries about India to its local franchisee. When Khetarpal visited Domino's stores in Chennai and other cities, he said he saw customers emptying out their pockets and only being able to scrape together 49 rupees.
Persons: Adnan Abidi, Sameer Khetarpal, Khetarpal, Merrill Pereyra, They'll, Akshay Jatia, Westlife, It's, Devanshu Bansal, Kiran Raj, Praveen Paramasivam, Aditya Kalra, Saurabh Sharma, Jatindra, Brenda Goh, Hilary Russ, Abhirup Roy, Miyoung Kim, Pravin Organizations: REUTERS, U.S, India, Sapphire Foods, Domino's, Burger King's, Restaurant Brands, Euromonitor, Yum Brands, Global Financial Services, Pravin Char, Thomson Locations: Noida, India, CHENNAI, DELHI, America, Shanghai, San Francisco, Burger, zeroing, Pizza, New Delhi, Chennai, Burger King's India, United States, U.S, Lucknow, Bhubaneswar, New York, Singapore
July 12 (Reuters) - Domino's Pizza (DPZ.N) shares surged 10% on Wednesday after the chain said customers can start using Uber's (UBER.N) Uber Eats and Postmates apps for orders, as it tries to jolt its sluggish delivery business. Domino's said Uber Eats will be its exclusive third-party platform in the U.S. until at least 2024, as per its "global agreement" with the ride-share company. Domino's had been a holdout in working with third-party delivery companies, preferring instead its own app, website and drivers. But being listed on Uber Eats and Postmates means it will now be easier for Domino's to reach new customers used to ordering there. At the same time, Domino's will continue using its own uniformed drivers for deliveries, allowing it to maintain control of its brand, image and food quality.
Persons: Domino's, Uber, Jim Sanderson, Peter Saleh, Angelo Zino, Granth Vanaik, Hilary Russ, Janane Venkatraman, Pooja Desai, Sharon Singleton Organizations: Domino's, CFRA Research, Thomson Locations: U.S, Uber's U.S, United Kingdom, Canada, Australia, Bengaluru, New York
Domino’s Uber delivery is an extra topping
  + stars: | 2023-07-12 | by ( ) www.reuters.com   time to read: +2 min
NEW YORK, July 12 (Reuters Breakingviews) - Domino’s Pizza (DPZ.N) wants to stuff more pie holes. The pizza chain announced on Wednesday that customers will be able to make delivery orders through Uber Eats, sending Domino’s shares up 10% in late morning trade. At first blush that may seem an admission that Domino’s own delivery app is sputtering. The agreement with Uber Technologies (UBER.N) is exclusive in the United States at least until 2024, and it extends Domino’s reach internationally as well. By partnering with Uber, Domino’s has a better chance of getting a bigger slice of the delivery market.
Persons: Uber, Dara Khosrowshahi, that’s, Domino’s, Jennifer Saba, Lauren Silva Laughlin, Sharon Lam Organizations: YORK, Reuters, Uber Technologies, Twitter, Thomson Locations: United States, China
Morgan Stanley upgrades Shockwave Medical to overweight from equal weight Morgan Stanley said shares of the cardiovascular medical device company are well positioned. Jefferies reiterates Tesla as hold Jefferies raised its price target on Tesla to $265 per shar from $185 but said it's standing by its hold rating. UBS reiterates Disney as buy UBS said it's cautious heading into Disney earnings in early August, but it's sticking with its buy rating. Morgan Stanley reiterates Netflix as equal weight Morgan Stanley raised its price target on the stock to $450 per share from $350 and said the risk/reward for Netflix is balanced. Morgan Stanley reiterates Rivian as overweight Morgan Stanley said it's standing by its buy rating on the electric vehicle company. "
Persons: Estee Lauder, Wells, Fox, Morgan Stanley, Goldman Sachs, Goldman, Charles Schwab, JMP, Schwab, KBW, it's, Jefferies, Tesla, JPMorgan, Rivian, Stifel, Oppenheimer Organizations: Citi, Estee Lauder Citi, Fox News, Nvidia, company's Data, Bank of America, UBS, Disney, Netflix, Cava, JPMorgan, Apple, Weyerhaeuser, of America, Brands, Bell, KFC Locations: BlackRock, Amazon's, GMV, CAVA
It's time to buy Domino's Pizza, according to Stifel. O'Cull thinks that "over the next 12 months, the company will stabilize delivery sales and continue growing carryout sales to new record levels. The analyst pointed out that Domino's shares have "performed poorly since 2021 as delivery sales have declined." "Carry-out sales should continue to be a significant growth opportunity," O'Cull said. Domino's shares were up 2% Thursday during premarket trading.
Persons: Chris O'Cull, O'Cull, — CNBC's Michael Bloom
Bernstein reiterates Target as outperform Bernstein said investors should buy the weakness in Target shares. UBS reiterates Chipotle as buy UBS said the Mexican chain is "well positioned w/ drivers to support transaction and sales growth." RBC reiterates Tesla as outperform RBC raised its price target to $305 per share from $212 and said it's bullish on Tesla's autonomy future. " TD Cowen reiterates Netflix as outperform TD Cowen raised its price target on the stock to $500 per share from $440 and says it's well-positioned. UBS reiterates Chevron as buy UBS said it sees "balance sheet strength & dividend growth" for Chevron.
Persons: Evercore, it's bullish, Emerson, Bernstein, Mizuho, Coinbase, Moody's, Guggenheim, McDonald's, Chipotle, Morgan Stanley, Goldman Sachs, Goldman, Wells, Wells Fargo, Tesla, it's, Oppenheimer, SoFi, Uber, Jefferies, TD Cowen, NFLX, Cowen, Stifel Organizations: ISI, Energy & Materials, Livent, HSBC, Emerson, " Bank of America, P, Bank of America, Citi, American Express Citi, American, Citi Credit Card, Travel & Entertainment, RBC, Nvidia, UBS, Mobile, Diageo, Spirits, Deutsche Bank, JPMorgan, Microsoft, Netflix, Corning, Chevron, Meta, DR Locations: Mexican, Allegiant, Edgewater
[1/5] Customers stand next to a counter at a Starbucks' outlet at a market in New Delhi, India, May 30, 2023. Starbucks plans to open more stores in smaller towns, said an industry source, who spoke on condition of anonymity. Soon after Starbucks' May launch of $3.33 milkshakes, designed to attract children, Third Wave launched its own range, a fifth cheaper at $2.71. He saw Starbucks' cheaper, small-sized drinks as a response to competition in "an incredibly price-sensitive market". "Going deeper into smaller cities, beyond the metros, is the only way to grow," said Ankur Bisen, head of retail at India's Technopak Advisors.
Persons: Sushant Dash, Tim Hortons, Devangshu Dutta, We've, chai, Chas Hermann, Sushant Goel, Matt Chitharanjan, Dash, Ankur Bisen, Sriram, Aditya Kalra, Anushree Fadnavis, Varun Vyas, Euan Rocha, Miyoung Kim, Sophie Yu, Hilary Russ, Clarence Fernandez Organizations: REUTERS, MUMBAI, Blue, Starbucks, Tata Group, BET, CHAI, Wave, Third, Reuters, Blue Tokai, India's Technopak, Thomson Locations: New Delhi, India, American, DELHI, U.S, Blue Tokai, China, Singapore, United States, Bengaluru, Delhi, Aurangabad, Beijing, New York
JPMorgan Chase thinks Domino's Pizza's stock is trading at a discount compared with what the company charges for key products. The firm upgraded Domino's to overweight from neutral Thursday with a $360 price target, up from $340, representing potential 24% upside from the $289.85 close Wednesday. Domino's stock is down 16.3% since the start of 2023. DPZ YTD mountain Some pressure on Domino's stock so far this year isn't swaying JPMorgan's upgrade to overweight. Ivankoe added Domino's franchisees don't have many reasons to decide to close stores, given the average U.S. franchise owner oversaw seven stores with roughly $140,000 each in free cash flow in 2022.
Persons: JPMorgan Chase, Domino's, John Ivankoe, Ivankoe, — CNBC's Michael Bloom Organizations: JPMorgan
But Shake Shack said on Tuesday that Engaged Capital would support the board's full slate of directors at the 2023 annual meeting of stockholders. The company has named Jeffrey Lawrence, former finance chief at apparel retailer FIGS Inc (FIGS.N) and Domino's Pizza Inc (DPZ.N), as an independent director. It has also mutually agreed with Engaged Capital to add another director with restaurant operations experience. Engaged Capital did not immediately respond to Reuters request for additional comments. In May, Shake Shack posted a smaller-than-expected first-quarter loss, benefiting from higher prices for its menu items that offset pressures from rising prices of beef and other cost pressures.
April 27 (Reuters) - Domino's Pizza Inc (DPZ.N) beat Wall Street estimates for first-quarter U.S. same-store sales on Thursday, boosted by higher prices as well as new promotional offers and menu items that helped draw more customers. Analysts have said the company's new menu item "Loaded Tots" that serves oven-baked potato tots with cheese and toppings in three varieties has helped boost sales during the January-March period. The world's largest pizza chain's U.S. same-store sales rose 3.6% in the first quarter, compared with analysts' estimate of a 1.96% increase, according to Refinitiv data. However, total revenue rose 1.3% to $1.02 billion but missed analysts' estimate of $1.04 billion hurt by a strong dollar. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.
The plan is still in early stages: Burger King has invested $40 million as of the end of last year. At US Burger King locations open at least 13 months, sales jumped 5% in the quarter, thanks in part to the burger. “I don’t know what his place might be in the future.”The fast food war heats upFor Burger King, the Whopper is more than just a burger. But even if the Whopper isn’t all that different from other fast food burgers, it’s the one Burger King has got. For Burger King, “the challenge is you’re competing against McDonald’s, and McDonald’s is really good,” said Senatore.
Stocks stuck to a holding pattern this week as investors brace for an incoming wave of Big Tech earnings and the Fed's favorite inflation reading. Earnings reports have generally been better than expected so far this first quarter. Humana (HUM) reports before the bell Wednesday; Meta Platforms and Pioneer Natural Resources (PXD) report after the bell Wednesday. ET: Personal Spending & Income (includes PCE Price Index) Club trades this week Just one trade: We added 150 shares of Coterra Energy (CTRA) on Wednesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Domino'sWall Street analysts are focusing on companies that are well-positioned to navigate the ongoing economic turmoil and emerge stronger. Here are five stocks chosen by Wall Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. Moskowitz holds the 237th position among more than 8,300 analysts followed by TipRanks. Costco recently reported 0.5% growth in its March sales to $21.71 billion, with its comparable sales declining 1.1% year-over-year. Saleh reiterated a buy rating on Domino's with a price target of $400.
AI is a real problem for Club holding Alphabet (GOOGL), according to Piper Sandler, which lowers price target to $117 per share from $120. Raises price target to $75 per share from $72. Baird raises price target on Okta (OKTA) to $100 per share from $92. Morgan Stanley raises price target on e.l.f. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
UK's Domino's expects tech investments to hit 2023 profit
  + stars: | 2023-03-09 | by ( ) www.reuters.com   time to read: +1 min
March 9 (Reuters) - Britain's Domino's Pizza Group Plc (DOM.L) said on Thursday its profit this year would be impacted by investments in cloud-based technology platforms, sending its shares down more than 8%. The company said it expects underlying core profit this year to be within market expectations, excluding about 9 million pounds ($10.69 million) to be incurred in costs from investments in two new cloud-based IT systems. Brokerage Jefferies, however, said the outlook including investment costs implied a 7% decline from the group's market forecast of 137.6 million pounds for 2023. Domino's reported 2022 underlying core profit of 130.1 million pounds, compared with 136.4 million pounds in the previous year, affected by the technology investments, higher costs and food inflation. Shares of London-listed Domino's, a franchisee of U.S.-based Domino's Pizza Inc (DPZ.N), was down 8.2% at 0900 GMT.
Here are Friday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as a top pick Morgan Stanley said it sees a "catalyst rich event path" for the tech giant. Morgan Stanley names Alphabet, Amazon and Meta top AI picks Morgan Stanley named Alphabet, Amazon and Alphabet as top picks and said AI is at an inflection point. Barclays reiterates Alphabet as overweight Barclays said it's standing by its overweight rating on the stock but sees it range-bound for the foreseeable future. Morgan Stanley reiterates Eaton as a top pick Morgan Stanley said it sees several cyclical growth drivers for the multination power management company. Morgan Stanley names Eli Lilly as a catalyst driven idea Morgan Stanley named Eli Lilly as a catalyst driven idea, saying that the stock "levered" to a likely positive outcome from upcoming obesity drug trials.
You need to know what you think will happen and then you can insert stocks into that worldview. I think this view, which Jay cares and is most likely going to get it right, is fundamental to my worldview. I think that's an absurd tradeoff and those who are making it, those who own 10-year Treasurys, are sorely ill-advised. Fortunately, I don't think the Fed has to go that far to break the trio. The companies you think might not make it I think aren't going to make it because they won't be able to raise cash.
Feb 23 (Reuters) - Domino's Pizza Inc (DPZ.N) missed quarterly sales estimates on Thursday, in a sign that price hikes were eating into demand for its pizzas and chicken wings amidst decades-high inflation, sending its shares down nearly 10% in premarket trade. The Michigan-based company has also been facing acute staffing shortages, especially of delivery drivers at its U.S. stores, which has lengthened delivery times and further dented sales. Still, hiking menu prices by about 7%, as estimated by the company in October, helped Domino's adjusted earnings of $3.97 per share top estimates of $3.94 per share. BTIG analyst Peter Saleh has estimated Domino's currently has the highest level of menu pricing in more than a decade. Reporting by Mehr Bedi and Deborah Sophia in Bengaluru; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.
But the Oracle of Omaha has missed out on this year’s stock market rally. Buffett, in fact, has promoted that idea to investors many times, arguing that most individual stock pickers will not be able to beat the market. And to his credit, that usually pays dividends: Berkshire stock was up 3% last year in a down market. “High rates of inflation create a tax on capital that makes much corporate investment unwise,” Buffett said in his 1980 shareholder letter to Berkshire investors. Investors will get several more clues about consumer spending this week when several top retailers report earnings.
Most important this week is Friday's core personal consumption expenditure (PCE) price index for January. In comparison, the consumer price index (CPI), released this past week, only tracks price changes over time. The market is expecting the core PCE price index to rise 0.4% monthly and 4.9% annually. In addition to the core PCE price index, we're going to be looking closely at the housing and utilities component. Lastly, the January producer price index came in hotter than expected, rising 0.7% from December versus expectations for 0.4% increase.
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