DIRS.INFO The most relevant business & tech news

With nearly three-fourths of the S & P 500 reporting second-quarter results, the earnings picture for the back half of the year is looking unusually complicated. It's been a 'meh' quarter so far We have the usual beat on bottom-line earnings, but revenue beats are below expectations. Most companies are beating on earnings estimates but are declining to hike full-year guidance beyond the beat. Plenty of complaints about a slowing China consumer A weak China economy has been a significant headwind for a number of global companies this season. Procter & Gamble's China sales tumbled 8% from a year ago as consumer spending slowed.

Persons: It's, Sherwin, Williams, Lockheed Martin, Chipotle, Isaac, CDW, Clorox, – Hershey, Kraft Heinz, Mondelez, General Mills, Smucker, McDonald's, Wendy's, Bob, Wyndham, Mills, Marriott, LVMH, haven't Organizations: GE Aerospace, Hasbro, Lockheed, Verizon, Mattel, IBM, Juniper Networks, Enphase Energy, NXP Semiconductors, Accenture, Oracle, Procter, Gamble, PepsiCo, ConAgra Brands, Bank of America, MGM Resorts, Comcast, Marriott, Airlines, Allegiant, Ryanair, Gamble's, Starbucks, Visa, Nike, Vegas Sands Locations: J.M, Atlantic City, China, Gamble's China, Greater China, Japan, Macao, Marina, Sands, Singapore

☆ Where to hide out? Try these low-volatility, dividend payers with growth
▼ + stars: | 2024-08-02 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

McDonald's stock made the list. Despite weaker-than-expected second-quarter results , Morgan Stanley Wealth Management added McDonald's stock to its dividend equity portfolio in a Friday note, citing its attractive valuation as the company pushes to revamp its menu pricing. MCD YTD mountain McDonald's stock. EQIX YTD mountain Equinix stock. "With sentiment / expectations relatively low, we like the set-up, as we suspect EQIX can maintain constant-currency revenue guide and accelerate revenue growth in 2H'24," the analyst added.

Persons: Stocks, Morgan, Daniel Skelly, Skelly, Equinix, Wells, Eric Luebchow Organizations: Dow Jones, Nasdaq, Federal, CNBC Pro, CNBC, Stock, Morgan Stanley Wealth Management, CVS Health, 2H, L3Harris Technologies, Omnicom

☆ Inmate on death row for 33 years must either be released or retried over prosecutorial misconduct
▼ + stars: | 2024-08-02 | by ( Stephanie Becker | ) edition.cnn.com time to read: +5 min

The judge’s ruling, at the request of California Attorney General Rob Bonta, gives the Alameda County prosecutor’s office 60 days to retry 71-year-old Curtis Lee Ervin or let him go free. Bonta conceded the Alameda prosecutors in the Ervin case illegally excluded Black jurors. Alameda County now must make a decision by September 30. Last month, she announced plans for the resentencing of Dykes and one other death row inmate for Batson violations. Those notes showed a bias against potential Jewish and Black jurors, according to the DA’s office.

Persons: CNN —, general’s, Rob Bonta, Curtis Lee Ervin, Ervin, Pamela Price, Price, Bonta, Carlene McDonald, Ervin’s, Robert McDonald, McDonald, Pamala Sayasane, He’s, ” Sayasane, KGO Sayasane, Sayasane, Batson, Ernest Dykes, ”, Brian Pomerantz, ” Pomerantz, Linda Kenney Baden, Phil Spector, Casey Anthony, Aaron Hernandez, “ Witnesses, ” Baden, sully, “, ” Dykes Organizations: CNN, Alameda County prosecutor’s, Alameda, KGO, Pomerantz, California Attorney General’s Locations: California, Alameda County, general’s, Oakland , California, Dykes, Washington, Connecticut, New York

☆ Fast food giants like McDonald's and Chipotle may be forced to hike prices in California again.
▼ + stars: | 2024-08-02 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

The California Fast Food Workers Union is calling for the state's minimum wage to rise to $20.70. Businesses are still adjusting to the latest hike, and this could be a breaking point. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementFresh off the heels of a major wage hike in April, California fast food workers are calling for a new one "to keep up with the rising cost of living." The California Fast Food Workers Union presented its demand for a new wage of $20.70 (up from $20) at the first-ever meeting of the newly formed Fast Food Council, KTLA News reported.

Persons: — Organizations: Food Workers Union, Service, Food Council, KTLA News, Business Locations: California

☆ Final Trades: McDonald's, Microsoft, Transocean and Nvidia
▼ + stars: | 2024-08-02 | 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: McDonald's, Microsoft, Transocean and NvidiaThe Investment Committee gives you their top stocks to watch for the second half.

Organizations: Microsoft, Nvidia

☆ McDonald's new big burger is called the Big Arch. Branding experts say the name makes it sound superior to its rivals.
▼ + stars: | 2024-08-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

The new burger, the Big Arch, is currently being piloted in Canada and Portugal. By using a brand name rather than a descriptor — like calling it the Big Burger — companies can "signal superiority," Kerrigan said. "And so you elevate what is a big burger to a branded shiny thing." AdvertisementThe arches imagery is now returning to menus again, with the launch of the Big Arch and its accompanying Big Arch Sauce. "You show that you are in someone's club or part of their tribe by using the same kind of brand names," she said.

Persons: —, McDonald's, Finola Kerrigan, — you've, Kerrigan, David Hughes, didn't, Hughes, Birdie, Ronald McDonald Organizations: Service, Business, Birmingham Business School, Mac, Triple, Mayo, Burger, Imperial College London Locations: Canada, Portugal, California, Texas

☆ McDonald's says its $5 meal deal is just the tip of the iceberg
▼ + stars: | 2024-08-01 | by ( Mary Hanbury | ) www.businessinsider.com time to read: +1 min

Its CEO said in a new interview that its temporary $5 deal is just the start of its refocus on value. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Kempczinski suggested that this deal is just the start of a renewed push into value for the chain. This story is available exclusively to Business Insider subscribers.

Persons: McDonald's, —, CNBC's, Chris Kempczinski, Kempczinski Organizations: Service, Business

☆ McDonald's says fast food sales are suffering most in California
▼ + stars: | 2024-08-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

McDonald's says fast food sales are suffering most in California. McDonald's raised menu prices in CA to offset the state's $20 minimum wage for fast-food workers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMcDonald's CEO says fast food sales are suffering in California as menu prices increased to offset the state's $20 minimum wage for fast-food workers. "You're seeing in California, the business there is falling off to a greater degree than what you're seeing in other markets around the US," CEO Chris Kempczinski told CNBC's Squawk Box.

Persons: McDonald's, Kempczinski, —, Chris Kempczinski, CNBC's, We've Organizations: Service, Business Locations: California, CA

☆ Americans aren't spending like they used to, and it's forcing a reckoning for companies from Starbucks to Whirlpool
▼ + stars: | 2024-07-31 | by ( Alex Bitter | Dominick Reuter | ) www.businessinsider.com time to read: +7 min

Read previewShoppers are slowing down spending on everything from burgers to dishwashers, and that's bad news for a growing number of companies. While inflation has since cooled, Americans are still stuck with higher prices for many of the things they buy. Shoppers are slowing down food spending — even at grocery storesThe spending slowdown has hit restaurant chains, which have launched new deals to get customers in the door. Over the past two years, income growth has helped consumer spending beat expectations, Jefferies analyst Corey Tarlowe said in a note on Monday. One bright spot in consumer spending: Cruises, which are seeing record demand.

Persons: —, McDonald's, Burger, Taco, Jefferies, ETIENNE LAURENT, Laxman Narasimhan, It's, Dirk Van de, Van de, Andrew M, Watterson, Michael Liersch, Wells, Corey Tarlowe, Horacio Villalobos, dreuter@businessinsider.com Organizations: Service, PepsiCo, UPS, Business, Shoppers, Burger King, Taco Bell, Starbucks, Getty, Walmart, Bureau of Labor Statistics, Unilever, Whirlpool, Airlines, Jefferies, Costco Locations: Pellegrino, North America

☆ Taco Bell to roll out AI drive-thru ordering in hundreds of locations by end of year
▼ + stars: | 2024-07-31 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Yum Brands hopes to use artificial intelligence to take down drive-thru orders at hundreds of Taco Bell restaurants by the end of this year. In May, executives said Taco Bell would expand its pilot of voice AI from five locations to 30 restaurants in California. Currently, more than 100 Taco Bell restaurants in the U.S. use voice AI. Taco Bell had nearly 7,700 U.S. locations at the end of 2023, according to company filings. Five KFC restaurants in Australia are also testing voice AI tech in drive-thrus, Yum Brands said.

Persons: McDonald's, Taco, Taco Bell, Lawrence Kim Organizations: Yum Brands, Taco Bell, IBM, Brands, Yum, KFC Locations: U.S, White, Chicago, California, Australia

☆ Ron Insana: The economic slowdown is here, and the Fed will be key to avoiding a recession
▼ + stars: | 2024-07-31 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

It is a question based on recent market behavior, corporate profit reports and prospective economic policy changes at home and abroad. It suggests that declining inflation and economic weakness may well be in our future. Recent U.S. economic data has been unexpectedly steady, with recent growth pegged at an annual rate of 2.8% in the second quarter. Unemployment data flashes a warning sign The unemployment rate remains low at 4.1% as of June, but it has risen from 3.7% back in January . Some economists argue that an increase of half a percentage point in the unemployment rate, off the lows, is a precursor to a recession.

Persons: you've, Ron Insana Organizations: Treasury, Federal Reserve Bank of New, Procter, Gamble, Federal Reserve, Clearwater, CNBC Locations: Clearwater, Japan, Switzerland, Venezuela, U.S

☆ A major change is coming to Taco Bell drive-thrus
▼ + stars: | 2024-07-31 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

Taco Bell is set to expand the use of artificial intelligence voice technology in its drive-thrus to hundreds of US locations by the end of this year, parent company Yum! The move means that when users pull up to place their order at a Taco Bell, there’s a good chance they will be talking to a computer, rather than a human employee, on the other end. McDonald’s said last month it was pulling the plug on the AI ordering technology that it was testing at more than 100 US drive-thrus, after customers complained about the system getting their orders wrong. Brands, told CNN he’s confident that his company’s technology — which is already in use at 100 Taco Bell locations across 13 states — won’t have the same issues. Kim also denied that AI ordering technology would replace human jobs, a growing concern around all manner of new AI tools.

Persons: Taco Bell, there’s, McDonald’s, Lawrence Kim, — won’t, we’ve, ” Kim, it’s, Kim, Yum, Kay, quesadilla ”, kay, “ kay, ” Organizations: New, New York CNN, Brands, Taco Bell, ! Brands, CNN, KFC Locations: New York, Taco, Pizza

☆ Cramer says a rate cut might be imminent because consumers are so stretched
▼ + stars: | 2024-07-31 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Wednesday detailed why he thinks the Federal Reserve will soon implement interest rate cuts, saying earnings season so far makes it clear that consumers continue to feel the weight of inflation. "I think that's why the Fed really laid the groundwork for a rate cut when it issued its statement today." At its Wednesday meeting, the Federal Reserve chose to hold rates steady, saying there has been "some further progress" towards its 2% inflation goal. Consumers are turning away from companies they feel have priced their goods too high, Cramer said. "Things are too expensive because people aren't doing well enough to afford to buy them, and interest rates are too high.

Persons: CNBC's Jim Cramer, Jerome Powell, Cramer, Powell, —, Robert Hum Organizations: Reserve, Federal Reserve, CNBC, Management

☆ Why Americans are snubbing McDonald’s and Starbucks
▼ + stars: | 2024-07-31 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —On the surface, it looks like Americans are laying off the Big Macs, booze and even — gasp! On Monday, McDonald’s reported sales fell 0.7% in the US from the same period in 2023. The once reliably cheap McDonald’s pushed its prices up, while sit-down restaurants leaned into value and convenience. Applebee’s, for one, made a direct pitch to the hordes of ticked-off McDonald’s customers who felt the chain had abused its pricing power. Now, McDonald’s is trying to win back poorer customers while appealing to more affluent customers who want something new.

Persons: CNN Business ’, McDonald’s, Johnny Walker, It’s, it’s, they’re, ”, RJ Hottovy, Jonathan Maze, I’m, —, Chili’s, “, Taylor Swift Organizations: CNN Business, New York CNN, Starbucks, Diageo, Restaurant Business, Dine Brands, CNN Locations: New York, United States, North America, Texas, Paris

☆ Fed Chair Powell can't have the consumer being priced out of places like McDonald's, says Jim Cramer
▼ + stars: | 2024-07-31 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Chair Powell can't have the consumer being priced out of places like McDonald's, says Jim Cramer'Mad Money' host Jim Cramer looks at McDonald's earnings report and what it says about the economy and state of the consumer.

Persons: Powell, Jim Cramer

☆ McDonald's CEO on state of the consumer: Seeing category slowdown from almost every major market
▼ + stars: | 2024-07-31 | 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 EmailMcDonald's CEO on state of the consumer: Seeing category slowdown from almost every major marketChris Kempczinski, McDonald’s president and CEO, joins 'Squawk Box' to discuss the company's quarterly earnings results, state of the consumer, rollout of the $5 value menu, impact of minimum wage increase in California, and more.

Persons: Chris Kempczinski Locations: California

☆ That $5 McDonald's value deal might not be cheap enough
▼ + stars: | 2024-07-31 | by ( Alex Bitter | ) www.businessinsider.com time to read: +1 min

McDonald's said it got an early boost from its $5 meal deal promotion. But fast-food chains need more than limited-time offers to get diners back, an analyst said. Other restaurant chains, such as Taco Bell, have come out with revised permanent value menus lately. After annual double-digit price increases at many fast-food chains over the past couple of years, companies are now offering some discounts. On Monday, for example, McDonald's pointed to some early success with its latest value meal offering: A $5 meal that it initially planned to sell for a month starting at the end of June.

Persons: McDonald's, Taco Bell, — Organizations: Service, Business

☆ Watch CNBC's full interview with McDonald's CEO Chris Kempczinski
▼ + stars: | 2024-07-31 | 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 EmailWatch CNBC's full interview with McDonald's CEO Chris KempczinskiChris Kempczinski, McDonald’s president and CEO, joins 'Squawk Box' to discuss the company's quarterly earnings results, state of the consumer, rollout of the $5 value menu, impact of minimum wage increase in California, and more.

Persons: Chris Kempczinski Chris Kempczinski Locations: California

☆ IHOP is bringing back $5 all-you-can-eat pancakes
▼ + stars: | 2024-07-31 | by ( Erika Tulfo | ) edition.cnn.com time to read: +2 min

CNN —It’s a summer for single-digit dollar deals as IHOP and Denny’s join other big-name food chains in offering value menu options. IHOP announced this week that it is bringing back its $5 all-you-can-eat pancake deal. IHOP announced the same promotion with much fanfare around the same time last summer as part of its 65-year anniversary. He says that IHOP’s dine-in only deal is meant to spur customers into returning to stores. “As a restaurateur, you hope that they’re not just taking advantage of the deal, they’re buying extras, they’re adding on sausages or some other breakfast meat.”

Persons: CNN —, Denny’s, IHOP, Taco, ”, David Henkes, Henkes, IHOP’s, they’re Organizations: CNN, Taco Bell, KFC, McDonalds Locations: Technomic

☆ Here are Wednesday's biggest analyst calls: Nvidia, Microsoft, Starbucks, McDonald's, Pinterest & more
▼ + stars: | 2024-07-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: Bank of America reiterates Pinterest as buy Bank of America said it's sticking with Pinterest following the company's earnings on Tuesday. "We are raising our rating to Overweight (from Equal-weight); our new price target of $36 (up from $25) implies +43.4% one-year total return, including a 6.7% forward dividend yield." Bank of America upgrades RTX to buy from neutral Bank of America said demand is rising for the aerospace and defense company. " Bank of America adds Marriott to the US1 list Bank of America added the stock to its top picks list. "We initiate coverage of On Holdings (ONON) with an Outperform rating and a $46 price target.

Persons: Pinterest, Morgan Stanley, JPMorgan, it's, Albemarle, Nomura, Bernstein, Venmo, TD Cowen downgrades McDonald's, Cowen, 2Q's, Raymond James, Lockheed Martin, Jefferies, Woodward, Goldman Sachs, Goldman, it's bullish Organizations: Bank of America, Barclays, AMD, Energy, JPMorgan, Mizuho, Nvidia, PayPal, Deutsche Bank, Corning, Deutsche, Citi, Navigator, Lockheed, of America, underperform Bank of America, Management, Starbucks, " Bank of America, Marriott, Holdings Locations: 2H24, Albemarle, Braintree, Switzerland

☆ I wish other companies would follow McDonald's effort to lower prices, says Jim Cramer
▼ + stars: | 2024-07-31 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI wish other companies would follow McDonald's effort to lower prices, says Jim Cramer'Mad Money' host Jim Cramer looks at McDonald's earnings report and what it says about the economy and state of the consumer.

Persons: Jim Cramer

☆ Calls of the Day: McDonald's, Arista Networks and Uber
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCalls of the Day: McDonald's, Arista Networks and UberThe Investment Committee discuss the latest Calls Of The Day.

Organizations: Arista Networks, The Investment

☆ Coca-Cola CEO on state of consumer: Have to deliver value and 'earn' the price increase
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCoca-Cola CEO on state of consumer: Have to deliver value and 'earn' the price increaseCoca-Cola CEO James Quincey joins 'Squawk Box' to discuss the company's Olympic sponsorship, the 2024 Paris Olympic games, state of the consumer, McDonald's partnership, competition against Pepsi and Dr. Pepper, and more.

Persons: James Quincey, Pepper Organizations: Pepsi

☆ Starbucks sales tumble as customers reject high-priced coffee
▼ + stars: | 2024-07-30 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

Starbucks sales dropped 3% globally at stores open for at least a year, including a 2% drop in its home North America market. McDonald’s this week reported that sales at stores open at least a year fell 1% last quarter, its first sales decline since 2020. Starbucks also faces increased pressure from rival drive-thru coffee chains – and from people opting to make their morning cup of coffee at home. There’s also more competition from some of the drive-thru coffee chains, like a Dutch Bros,” said RJ Hottovy, an analyst at Placer.ai. Starbucks, using a play from fast food chains, is trying to win back customers with value menus.

Persons: There’s, ”, RJ Hottovy Organizations: New, New York CNN, Consumers, Starbucks, North, Bros, Placer.ai Locations: New York, North America

☆ Starbucks' turnaround takes an encouraging step forward. Here's what we what to see next
▼ + stars: | 2024-07-30 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Starbucks Why we own it : Starbucks has one of the most recognizable brands of any restaurant. Like Starbucks, McDonald's has had a challenging 2024 and the company reported uninspiring results — missing on revenues, same-store sales, and earnings per share. Quarterly commentary Comparable store sales in North America — a key restaurant industry metric — fell 2%, slightly beating estimates of a 2.2% drop forecasted by Wall Street analysts, according to FactSet. In Starbucks' international segment, comparable store sales fell 7%, missing estimates of a 5.1% decline. A Starbucks store stands in Manhattan on January 30, 2024 in New York City.

Persons: Elliott, Elliott Management's, Dunkin, McDonald's, We'd, Laxman Narasimhan, We're, Narasimhan, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Starbucks, Revenue, Elliott Management, Bros, McDonalds, Citi, Wall Street, CNBC, Getty Locations: China, North America, U.S, East, Southeast Asia, Europe, Manhattan, New York City

Search resuls for: "Mcdonald"

25 mentions found