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CNN —The weather at Huntington Bank Field was the main talking point as the Cleveland Browns hosted division rivals Pittsburgh Steelers on Thursday Night Football. Steelers kicker Chris Boswell opened the scoring with a 48-yard field goal in the second quarter. 1st quarter 🆚 4th quarter pic.twitter.com/yjG7f0pHjU — Cleveland Browns (@Browns) November 22, 2024Despite the conditions, Cleveland extended its lead in the fourth quarter after Browns quarterback Jameis Winston dove into the endzone for a two-yard score and later successfully completed a two-point conversion to make it 18-6. Pittsburgh Steelers players Nick Herbig and Patrick Queen celebrate a fumble against the Cleveland Browns in the fourth quarter. — Cleveland Browns (@Browns) November 22, 2024As Cleveland celebrated the win, it appeared Steelers wide receiver George Pickens and Browns cornerback Greg Newsome got into scuffle, but it was quickly broken up.
Persons: Nick Chubb, Chris Boswell, Chubb, Cleveland, Myles Garrett, ove, lew, ake, ickens, eason, alf, ike, enver Organizations: CNN, Huntington Bank, Cleveland Browns, Pittsburgh Steelers, Browns, Steelers, ard, ust, ue O, eads Locations: ried, ife
Chipotle shareholder sues over skimpy portion sizes
  + stars: | 2024-11-13 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +3 min
New York CNN —A Chipotle shareholder is suing the fast-casual chain over viral social media complaints about skimpy portion sizes. The proposed class-action lawsuit filed Monday claims Chipotle understated customer dissatisfaction regarding its “highly inconsistent” portion sizes in official disclosures. “First, there was never a directive to provide less to our customers,” Niccol said during the earnings call. After that earnings call on October 30, Chipotle stock dipped 7.86%. The proposed class action would make eligible anyone who purchased or sold Chipotle stock from February 8 to October 29, 2024.
Persons: Keith Lee, Chipotle, ” Laurie Schalow, Chipotle’s “, Brian Niccol, ” Niccol, Niccol, Jack Hartung, Scott Boatwright, Boatwright Organizations: New, New York CNN, Starbucks Locations: New York, Wells, Chipotle’s, Chipotle
CNN —Jets wide receiver Garrett Wilson made a catch of the year candidate on Thursday night as New York beat the Houston Texans 21-13 to end their five-game losing streak. The play bore striking similarity to another all-time great catch at MetLife Stadium. “(Beckham) got two feet down, the ball was gonna land out of bounds, and it was Odell, man,” Wilson told reporters. It was amazing.”Wilson explained what was going on in his head while the ball was traveling through the air during the extraordinary catch. “Honestly, you’re not thinking about much, ‘How can I make a play?’” Wilson told Prime Video’s Kaylee Hartung after the game.
Persons: Garrett Wilson, Wilson, Kamari Lassiter, Jeff Ulbrich, Odell Beckham Jr, Beckham, Odell, ” Wilson, “ Odell, I’m, ” Ulbrich, you’re, ’ ” Wilson, Video’s Kaylee Hartung, Aaron, Rodgers, you’ve, , Sarah Stier, Wilson’s, Joe Mixon, Malachi Corley, Davante Adams, Organizations: CNN — Jets, New York, Houston Texans, Texans, Jets, MetLife, New York Giants, Dallas Cowboys, Cowboys Locations: New, Houston, Rodgers
In a Tuesday interview with CNBC's Jim Cramer, Chipotle CSO Jack Hartung discussed business in California since the burrito-maker upped prices in April, saying there's "macro resistance" from consumers to inflation across the industry. "Our read on California is less about resistance to our price increase, and it's more of a macro impact," Hartung said. "Because when you look at the restaurant industry, the restaurant transactions are down for everybody." The company raised prices in the state by about 7% to offset the new higher minimum wage regulations for fast-food workers, which raised the mandated hourly rate from $16 to $20 per hour. Chipotle beat Wall Street's expectations during its last quarter and reported growing market share and restaurant transactions across every income level.
Persons: CNBC's Jim Cramer, Jack Hartung, Hartung, There's Organizations: CNBC Locations: California
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChipotle Interim CEO Scott Boatwright and President Jack Hartung sit down with Jim CramerChipotle Interim CEO Scott Boatwright and President Jack Hartung join 'Mad Money' host Jim Cramer to talk Chipotle's new chapter following former CEO Brian Niccol's departure.
Persons: Scott Boatwright, Jack Hartung, Jim Cramer Chipotle, Jim Cramer, Brian Niccol's
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChipotle continues to see strong value scores across the country, says President Jack HartungChipotle Interim CEO Scott Boatwright and President Jack Hartung join 'Mad Money' host Jim Cramer to talk Chipotle's new chapter following former CEO Brian Niccol's departure.
Persons: Jack Hartung Chipotle, Scott Boatwright, Jack Hartung, Jim Cramer, Brian Niccol's
How to stream NFL games without cableBelow, we'll dive deeper into all your NFL streaming options. We'll show you how to watch Thursday Night Football, Monday Night Football, Sunday Night Football, and more, whether you want an all-inclusive streaming service or cheaper monthly subscriptions. What you get:Local games on FoxLocal games on CBSSunday Night Football on NBCMonday Night Football on ESPNNFL Network gamesWhat you don't get:Thursday Night Football gamesOut-of-market games**Out-of-market games are available with the NFL Sunday Ticket package. What you get:Thursday Night Football gamesExclusive Wild Card game in January 2025What you don't get:Local games on CBSLocal games on FoxMonday Night Football on ESPNSunday Night Football games on NBCNFL Network gamesOut-of-market Sunday afternoon gamesNFL+NFL+ Subscription NFL Plus lets you stream live games to your phone or mobile device, and watch on-demand content from NFL Films and the NFL Network. The platform will let you watch local and primetime broadcast games (regular and postseason), NFL Network games, and out-of-market preseason games.
Persons: we've, Hulu's, Peacock, Al Michaels, Kirk Herbstreit, Kaylee, There's, DAZN, Flatenna, ExpressVPN, you'll Organizations: Business, NFL, Super, Football, TV, NFL Network, Fox, NBC, ESPN, CBS, Sling, ESPN NFL Network, Fubo, Hulu, Fox Local, Disney Plus, Disney, YouTube, NFL Redzone, Sports, NFL Sunday, Sunday, CBS Local, Fox Monday, Paramount, Nickelodeon, Comedy Central, BET, MTV, Showtime, Fox Sunday, Amazon, Amazon Prime, Thursday, ESPN Sunday Night, NBC NFL Network, NFL Films, NFL RedZone, MLB, NHL, UFC, ESPN ESPN, Jets, 49ers, Bengals, Seahawks, Lions, Ravens, Buccaneers, Chargers, Cardinals, Giants, Steelers, Cowboys, Bears, Apple, Android, Smart, Sony, LG, Panasonic, PlayStation, Xbox, Night Football NFL Network, Twitch Locations: United States, China, United Kingdom, Canada, Australia, AWST
Niccol has a "great track record" and is an "outstanding" hire for Starbucks, Edward Jones restaurant analyst Brian Yarbrough told Business Insider. Alongside Curt Garner, the chain's chief information officer who joined in 2015, Niccol helped spearhead Chipotle's digital turnaround. In Niccol's first full year at Chipotle, in 2019, digital sales were up 90%. AdvertisementMost locations already had two make lines when Niccol joined Chipotle, but the strategy was unclear, BI previously reported. "Whether you're a light, medium, or heavy user, when you're in the rewards program, you come more frequently and you spend more," Niccol told investors in February.
Persons: , Taco Bell, Brian Niccol, Laxman Narasimhan, Niccol, Edward Jones, Brian Yarbrough, William Blair, Sharon Zackfia, Howard Schultz, He's, perf, Chipotle, Chipotle's, Gregory Rec, Jack Hartung, Curt Garner, they'd, Jefferies, Andy Barish Organizations: Service, Taco, Starbucks, Business, Portland Press, Getty, Niccol's, BI Locations: Chipotle, Ohio, China
Starbucks is parting ways with its CEO and bringing in the head of Chipotle to lead the coffeeshop chain, as it seeks to revive flagging sales and appease outside investors. Starbucks announced Tuesday that Brian Niccol, who has led the Mexican-style chain since 2018, will take over the coffee giant starting next month. Laxman Narasimhan, who'd been with Starbucks for less than two years, is exiting the company. But in its release announcing the change, Starbucks said Niccol had "transformed" Chipotle. Starbucks CFO Rachel Ruggeri will step in as interim chief executive until Sept. 9, when Niccol officially takes over the top job.
Persons: Brian Niccol, Laxman Narasimhan, who'd, who’d, Chipotle, Niccol, Rachel Ruggeri, Scott Boatwright, Jack Hartung Organizations: Starbucks Locations: Mexican, U.S, China
Chipotle stock fell as much as 10% in premarket trading Tuesday as the company announced CEO Brian Niccol would be leaving his role on Aug. 31 to become CEO of Starbucks . Niccol began as Chipotle CEO in March 2018. Chipotle stock has risen more than 700% since since he took over. Niccol helped lead Chipotle through a foodborne illness scandal and oversaw the chain of restaurants during the pandemic. Before taking over at Chipotle, Niccol was the CEO at Yum Brands' Taco Bell.
Persons: Brian Niccol, Niccol, Scott Boatwright, He's, Jack Hartung, Brian, Mellody Hobson, Chipotle, — CNBC's Amelia Lucas Organizations: Starbucks, Yum Brands, Bell Locations: Chipotle
Starbucks announced Tuesday it's replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol as the coffee chain tries to reverse a sales slump. Before joining Starbucks, Narasimhan was chief executive of Reckitt, which owns brands like Lysol and Mucinex. Narasimhan's surprise ouster also suggests that Starbucks' board isn't interested in a deal with activist investors. When news of Elliott's stake in Starbucks first broke in July, the hedge fund offered Starbucks' board a settlement that would protect Narasimhan's job, CNBC previously reported. Starbucks' board did not initially respond or engage with Elliott for some time, driven in part by the lingering influence of Schultz.
Persons: Laxman Narasimhan, Brian Niccol, Rachel Ruggeri, Niccol, Narasimhan, Howard Schultz, Elliott, Chipotle, Mellody Hobson, shakeup, Brian, Hobson, he's, Bell, Narasimhan's, Schultz, Scott Boatwright, Jack Hartung Organizations: Starbucks, Elliott Management, Yum Brands, Bell, CNBC Locations: U.S, China, Chipotle, Pizza
CEO Brian Niccol told Cramer that's not the case. CEO Ernie Garcia "pulled the rabbit out of a hat," Cramer said. "This is a classic case of whenever you sell these stocks ... you end up regretting it," Cramer said. They have no credit risk. I don't think you downgrade these stocks going into a slowdown where you might have credit risk."
Persons: Jim Cramer's, Sasan Goodarzi, Jim Cramer, Jack Hartung, He'll, Adam Rymer, Cramer, Chipotle, Brian Niccol, Cramer that's, Monish Patolawala, Bill Brown, Needham, Ernie Garcia Organizations: CNBC, Club, Intuit, Karma, Archer, Daniels, Midland, Mastercard, Visa, Bank of America
While stock splits don't affect a company's value, they can catalyze a move higher or lower, according to Wolfe Research. Artificial intelligence chipmaker Nvidia announced a 10-for-1 stock split as part of its quarterly earnings report on May 22. The firm examined the roughly 3,000 stock splits from large-cap U.S. companies since 1993 to examine their impact. Here are the favorable criteria Senyek identified: Large market capitalization Higher absolute share price Multiple stock splits in the past "Larger cap, higher price and multiple splits is the 'sweet spot' for stock splits' signaling mechanism," said Senyek. "For what it's worth, the pending Nvidia stock split meets the three aforementioned positive criteria."
Persons: Dow, Chris Senyek, Senyek, That's, FactSet, Baird, Jack Hartung, Chipotle, Amphenol, — CNBC's Michael Bloom Organizations: Wolfe Research, Nvidia, Dow Jones Industrial, Walmart, Dominion Freight, Old Dominion, Citigroup, CNBC, Amphenol Locations: Old, Connecticut
Chipotle has come a long way since the burrito-maker first went public nearly 20 years ago. Although it was founded in 1993, the restaurant chain made its stock market debut in January 2006 with shares priced at $22 each. Chipotle's stock price sat at $3,072.85 as of the market close on May 29. The chain is also preparing for its first stock split, which is set to take place after the market close on June 25. "This split comes at a time when our stock is experiencing an all-time high driven by record revenues, profits, and growth."
Persons: Chipotle, Jack Hartung Organizations: Washington D.C Locations: Washington, U.S, Canada, United Kingdom, France, Germany
In a Wednesday interview with CNBC's Jim Cramer, Chipotle CEO Brian Niccol addressed a recent TikTok trend that claims the fast food chain is skimping on portion sizes. Dubbed the "Chipotle phone method," the trend involves some users on Tiktok filming Chipotle workers as they get orders ready in order to receive more toppings. Niccol also discussed Chipotle's first-ever stock split. One Chipotle share is currently worth $3,072.85, and the split is expected to take effect in June. "There's a lot more excitement when you can buy a whole share or get a couple shares," Niccol said.
Persons: CNBC's Jim Cramer, Brian Niccol, Niccol, Chipotle, We're, Chipotle's, Jack Hartung
Here are the biggest calls on Wall Street on Wednesday: Bernstein reiterates Nvidia as outperform Bernstein said it's sticking with its outperform rating on the stock. " Argus upgrades Berkshire Hathaway to buy from hold Argus said it's getting bullish on shares of Warren Buffett's multinational conglomerate. UBS reiterates First Solar as buy UBS raised its price target on First Solar to $350 per share from $270. Bank of America reiterates Apple as buy Bank of America said it's bullish on top pick Apple and its entry into iPhones with AI. Bank of America reiterates Dell as buy Bank of America raised its price target on Dell to $180 per share from $130.
Persons: Bernstein, Berkshire Hathaway, Argus, it's, Fluence, LBRT, Jefferies, TD Cowen, Medpace, Cowen, Morgan Stanley, JPMorgan, Wells, Baird, MM120, Truist, Dell, Jack Hartung, Cindy Olsen Organizations: Nvidia, Argus, Warren, UBS, Citi, Liberty Energy, United Airlines, Airlines, American Airlines, " Bank of America, Apple, Bank of America, Netflix, Disney, RBC, Eldorado, Eldorado Gold, BTC, Citi downgrades Bank, JPMorgan, Mind, of America, Norwegian Cruise Line Holdings, Dell, Field Locations: Berkshire, U.S, OFS, United, El Paso, Parks, F4Q, CAVA, Chicago
Chipotle's CFO said that says that fewer customers are ordering ahead as its service speeds up. A key metric for the chain is how many entrées each restaurant makes in its peak 15 minutes. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementChipotle says that its service is becoming so much speedier that fewer customers are bothering to order ahead on its app. During the pandemic, many fast-food and fast-casual chains rolled out ways for customers to order ahead so that customers could skip the line.
Persons: , Chipotle, Jack Hartung, Brian Niccol, Niccol, Hartung Organizations: Service, Business, Boston
Chipotle Mexican Grill on Wednesday reported quarterly earnings and revenue that beat analysts' expectations, fueled by higher traffic to its restaurants. Excluding a 36-cent hit from increases to its legal reserves, the burrito chain earned $13.37 per share. Chipotle said traffic increased 5.4% from the year-ago period, while the average check was up just 1.6%. Chipotle has become the rare restaurant chain to report rising transactions despite higher menu prices. In March, Chipotle's board approved a 50-for-1 stock split, one of the largest in the New York Stock Exchange's history.
Persons: Chipotle, Jack Hartung, Brian Niccol, Chipotle's Organizations: LSEG, burrito, New York Stock Locations: Manhattan , New York, California
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOur largest investors are 'happy' with stock split, care about growth and results, says Chipotle CFOJack Hartung, Chipotle CFO, joins 'Mad Money' host Jim Cramer to talk its recent stock split announcement, opening new restaurants, consumer trends and more.
Persons: Jack Hartung, Jim Cramer
Chipotle Chief Financial Officer Jack Hartung explained why the fast-food chain decided to split its stock for the first time in its 30-year history in an interview with CNBC's Jim Cramer. Hartung said the company wanted to make shares more accessible to employees and increase liquidity for investors. "We study this every year or so, we have our bankers come in, we talk about the pros and cons of doing the split," Hartung said. Chipotle in late March proposed a 50-for-1 stock split, meaning shareholders will gain 49 shares for every one they already own. Investors care more about Chipotle's growth and results than the stock split, according to Hartung.
Persons: Jack Hartung, CNBC's Jim Cramer, Hartung, Chipotle Organizations: CNBC
Chipotle customers in California should brace themselves for higher menu prices this year. The law will put fast-food workers' wages up to $20 an hour from April. Minimum wages for California fast-food workers will increase to $20 an hour in April under a law signed by Gov. The new legislation, known as AB 1228, won't just bring a wage increase in April. Chipotle, which has roughly 115,000 workers, spent $2.44 billion on labor in 2023, up about 11% from the previous year.
Persons: Chipotle's, , Jack Hartung, Gavin Newsom, Hartung, Laurie Schalow, Chipotle, Chris Kempczinski, Brian Niccol Organizations: Service, Gov Locations: California,
Not only does it mean an additional game on Prime Video that Amazon hopes to make into a yearly tradition, but it comes on the busiest shopping day of the year. Hans Schroeder, the executive vice president of NFL Media, said the league had been exploring the possibility of adding a game on Black Friday for a while. Adding a Black Friday game gives the NFL another day to take over. According to Nielsen, the most-viewed Amazon game came in Week 2 this season when the Philadelphia Eagles hosted the Minnesota Vikings. NFL games are averaging 17.1 million viewers through 11 weeks, which is a 6% increase over last season.
Persons: We’re, Jay Marine, Hans Schroeder, ” Schroeder, , Amazon, Garth Brooks, “ I’m, , Al Michaels, Kirk Herbstreit, there’s, Tim Boyle, Aaron Rodgers, Tua Tagovailoa, Hill, ___ Organizations: Miami Dolphins, New York Jets, NFL, NFL Media, Amazon, Shopping Network, Nielsen, Philadelphia Eagles, Minnesota Vikings, Jets, AFC East, Dolphins Locations: X’s
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe German car industry has been very successful but is now facing a demanding situation, Bosch CEO saysStefan Hartung discusses the outlook for the German car industry given Chinese competition.
Persons: Bosch, Stefan Hartung
A law in California raising the hourly minimum wage for fast-food workers to $20, starting in April, will increase Chipotle’s labor costs in the state on average by 15% to 20% next year. Photo: Justin Sullivan/Getty ImagesChipotle Mexican Grill is expecting a significant bump in labor costs next year because of a new law in California. Starting in April, minimum wage for fast-food workers in California will increase to $20 an hour, up from the state’s current hourly minimum wage of $15.50. The law applies to fast-food chains with at least 60 national locations and will come as the state’s minimum wage is set to rise to $16 an hour in January. Chipotle currently pays California workers in the high teens, around $17 to $18 an hour, said Chief Financial Officer Jack Hartung.
Persons: Justin Sullivan, Chipotle, Jack Hartung Locations: California
McDonald's and Chipotle Mexican Grill will raise their menu prices in California next year to offset the state's minimum wage increase for fast-food workers, executives said as both chains announced quarterly earnings in recent days. McDonald's has not decided how much it will hike prices in California as workers' wages rise to $20 an hour, CEO Chris Kempczinski said Monday. Restaurants have been hiking menu prices for more than two years in response to rising ingredient and labor costs. Unlike Chipotle, which owns the overwhelming majority of its locations, most of McDonald's California locations are run by franchisees. "We believe we're in a better position than our competitors to weather this, so let's use this as an opportunity to actually accelerate our growth in California," Kempczinski said.
Persons: McDonald's, Chris Kempczinski, Chipotle, Jack Hartung, Hartung, Kempczinski Organizations: U.S . Bureau of Labor Statistics, McDonald's, National Owners Association, U.S, CNBC Locations: California, McDonald's, McDonald's California, McDonald's U.S
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