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☆ Red Lobster and TGI Fridays are closing. Here’s what’s moving in
▼ + stars: | 2024-11-11 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

In Watertown, New, York, a former Red Lobster is being converted to a Northern Credit Union bank. And Chick-fil-A is taking over a shuttered Red Lobster in Naples, Florida. Chains like Red Lobster and TGI Fridays filed for bankruptcy this year and closed more than 175 restaurants combined. Red Lobster was driven into bankruptcy by mismanagement under a previous owner, global shrimp supplier Thai Union, while TGI Fridays fell under private equity owner TriArtisan Capital Advisors. Empty booths fill the interior of a Red Lobster restaurant on May 20, 2024 in Austin, Texas.

Persons: Denny’s, Kelli Valade, ”, Jeff Kreshek, hasn’t, Chick, Elijah Nouvelage, Matt Larson, Chris Tomasso, Tomasso, Brandon Bell, Larson Organizations: New, New York CNN, LongHorn, Northern Credit Union, Vacant, Thai Union, TriArtisan Capital Advisors, Federal Realty, Watch, First, Getty, JCPenney, Nordstrom, Green Locations: New York, Woodbridge , Virginia, Watertown , New, York, Naples , Florida, Maryland, California, McDonough , Georgia, Chao, Bel Air , California, Franconia, Virgina, United States, Austin , Texas

☆ Texas Sen. Ted Cruz will win reelection and defeat Democrat Colin Allred, CNN projects
▼ + stars: | 2024-11-05 | by ( Eric Bradner | ) edition.cnn.com time to read: +2 min

CNN —Texas Sen. Ted Cruz will win reelection to a third term, CNN projects, defeating Democratic challenger Rep. Colin Allred and denying Democrats one of their best chances to mitigate potential losses elsewhere. The Longhorn State has long been a Republican stronghold, with the GOP winning every statewide election there since 1994. Allred, a former NFL linebacker who defeated GOP Rep. Pete Sessions to win his House seat in 2018, was seen as a viable challenger. He attacked Cruz for voting against the bipartisan border deal and featured testimonials from border law enforcement officers in his own ads. This year, he tried to tie Allred to the Biden-Harris administration on inflation, the border wall and transgender issues.

Persons: Texas Sen, Ted Cruz, Colin Allred, Allred, Pete Sessions, Cruz, Kate Cox, Beto O’Rourke, Harris, ”, defund, Barack, Donald Trump’s, Trump Organizations: CNN, Texas, Democratic, Longhorn State, Republican, GOP, NFL, GOP Rep, Republicans, Democrat, Biden Locations: Texas

☆ F1 meets Georgia-Texas: Austin readies for one of its biggest sports weekends
▼ + stars: | 2024-10-19 | by ( Madeline Coleman | ) www.nytimes.com time to read: +8 min

AUSTIN, Texas — Just outside Circuit of the Americas stands a large, multicolored billboard. 5 Bulldogs, is one of the biggest college football matchups this year, with two Southeastern Conference powerhouses set to clash. Legendary football coach Nick Saban did a hot lap on Friday, and Jess Sims tested several drivers’ knowledge of American college football, including Lando Norris. Iconic American college football and Formula One racing,” said Drew Martin, Texas’ Executive Senior Associate Athletics Director for External Affairs. “I know the Europeans are particularly fond of college football, in particular the halftime show.

Persons: COTA, GameDay, Elle Duncan Show, Nick Saban, Jess Sims, Lando Norris, It’s, ”, Drew Martin, Martin, “, ” Martin, “ It’s, ” Jess Sims, It’ll, ” COTA, Bobby Epstein, Epstein, Austin ”, Martin reckons, Darrell, Oscar Piastri, ’ Epstein, Eminem, ” Epstein, ’, Alex Albon, Jared C, Tilton Organizations: Tire, Sting, Texas Longhorns, Georgia Bulldogs, United, Texas, Oklahoma State, Kansas State, Southeastern Conference, Iconic American, Formula, Affairs, ” College football gamedays, SEC, University of Texas, Longhorn, ESPN, Dallas Grand Prix, Texas -, Darrell K Royal, Longhorns, McLaren, ” University of Texas Athletics, Circuit, Americas, Austin, Getty Locations: AUSTIN , Texas, Americas, Austin, United States, COTA, Texas, Europe, Texas - Georgia, Georgia, Austin , Texas

☆ Georgia knocks off No. 1 Texas: Bulldogs back in SEC race; Quinn Ewers’ struggles loom large
▼ + stars: | 2024-10-19 | by ( The Athletic College Football | ) www.nytimes.com time to read: +10 min

As the garbage came down, Texas coach Steve Sarkisian and then other members of the Texas team walked to the corner of the end zone waving their hands and asking students to stop. They were unable to go sideline-to-sideline or downhill as Georgia met Texas with force every step of the way. The second half got dicey, with Georgia giving up two touchdowns on relatively short fields, one after the controversial interception/overturned pass interference, the other after Georgia for some reason squib-kicked the second half kickoff. In the second half, Ewers returned and led a touchdown drive to open the third quarter. Mykel Williams forced a second Ewers fumble with 10:23 left in the game, thwarting a Texas drive in Georgia territory.

Persons: Sam Khan Jr, Chris Vannini, Seth Emerson, —, Quinn Ewers, Arch, There’s, Ole, Georgia’s, — Seth Emerson, Jahdae Barron, Carson Beck, Barron, Darrell K, Steve Sarkisian, “, Kirby Smart, Katie George, “ Nobody, I’m, — Sam Khan Jr, Jalon Walker —, Daylen Everette, Beck, Arian Smith, Oscar Delp, — Emerson, tersely, Arch Manning, Manning, Texas ’, Ewers, ” Sarkisian, Quinn, ‘, let’s, ”, Mykel Williams, can’t, we’ve, Everybody’s, — Khan, Tim Warner Organizations: SEC, College, Bulldogs, Longhorn, Alabama, Kentucky, Mississippi State, Ole Miss, Texas, Tennessee, College Football, Clemson, Georgia, Darrell K Royal, Longhorns, Longhorns ’ College, Oklahoma, Texas ’, Credit Georgia, Getty Locations: Georgia, Texas, Arch Manning, Alabama, Auburn, Tennessee, Florida, , Texas, “, Ewers

☆ Meet Jeff Smith, the hedge-fund investor taking on Pfizer
▼ + stars: | 2024-10-07 | by ( Alex Morrell | ) www.businessinsider.com time to read: +7 min

Starboard Value has taken a $1 billion stake in drugmaker Pfizer. The hedge fund, headed by Jeff Smith, has become one of the most feared activist investors. AdvertisementPharmaceuticals giant Pfizer got a wake up call Sunday evening when one of Wall Street's most feared activist investors revealed a stake in the company. AdvertisementPfizer, with a market cap north of $160 billion, is among the largest companies Starboard's Smith has ever targeted. With less than a 10% stake Smith replaced the entire 12-person board and assumed the role of chairman.

Persons: Jeff Smith, —, Smith, Starboard's Smith, Ian Read, Frank D'Amelio, Ken Squire, Paul Singer, Elliott, Carl Icahn, Dan Loeb, Peter Feld, Olive Garden's, Marc Benioff, Brontë Wittpenn, Brontë, Squire, they're, Albert Bourla, Bourla, wagered Organizations: Pfizer, Service, Pharmaceuticals, 13D, Investor, Lazard, Elliott Management, Icahn Enterprises, Cowen Group, AOL, Darden Restaurants, Olive Garden, Longhorn, Darden, Wall, San Francisco, Getty, Smithfield Foods, Bristol, Myers Squibb, Celgene, Autodesk, Starbucks Locations: Olive Garden, Fortune, America, Olive, Washington

☆ Louisiana governor wants live tiger back at LSU football games
▼ + stars: | 2024-10-01 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

Jeff Landry confirmed his support on Tuesday of restarting the tradition of bringing Louisiana State University’s live tiger mascot onto the football field ahead of home games. For years, the school’s live mascot would ride through the stadium in a travel trailer “topped by the LSU cheerleaders” before home games, based on information about the mascot on the LSU Athletics’ webpage. Following the death of the school’s tiger, Mike VI, in 2016, LSU announced that future Mike the Tigers would no longer be brought onto the field. In the past, animal rights groups have called on LSU to stop keeping live tiger mascots. Louisiana is not the only school that is home to a live mascot.

Persons: Jeff Landry, LSU’s, didn’t, Landry, “, ” Landry, ”, —, Mike VI, Mike, Mike VII —, Dan, University of Colorado’s Ralphie Organizations: —, Louisiana State, Tiger, University, Animals, LSU, PETA, Gov, Press, university’s School of Veterinary Medicine, LSU Athletics ’, Tigers, Yale, University of Texas, Longhorn, University of Colorado’s, Buffalo Locations: BATON ROUGE, La, Baton Rouge, New Orleans, U.S, Louisiana

☆ Darden Restaurants earnings disappoint as Olive Garden, fine dining sales struggle
▼ + stars: | 2024-09-19 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Darden Restaurants on Thursday reported weaker-than-expected quarterly earnings and revenue as sales weakened at Olive Garden and its fine dining restaurants. Net sales rose 1% to $2.76 billion, but the company's same-store sales declined 1.1% in the quarter. Darden's fine-dining segment, which includes Eddie V's and The Capital Grille, reported same-store sales declines of 6%. LongHorn Steakhouse was the company's only division to report same-store sales growth. The chain, a top performer in Darden's portfolio since the pandemic, saw same-store sales growth of 3.7%.

Persons: Rick Cardenas, Darden, Raj Vennam, Olive Garden's, Eddie V's, Ruth's Chris Steak, Chris Organizations: Darden, Olive, LSEG, LongHorn, Chuy's Holdings Locations: Olive, Chicago , Illinois, Tex

☆ Olive Garden strikes a deal with Uber to deliver its food
▼ + stars: | 2024-09-19 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Once a holdout on using third-party services, Olive Garden is reversing course and will use Uber to deliver breadsticks and pasta. Olive Garden already offers delivery through its website and app, delivered by the restaurant’s employees. Even during the height of the pandemic, Olive Garden didn’t use the services, although the services benefited their competitors. The partnership likely alleviated some of the pain of a dismal quarter for Olive Garden, which reported a 2.9% drop in same-store sales for the quarter. Olive Garden doesn’t offer many discounts, like its competitors do.

Persons: Uber, Olive Garden, Olive, ”, Rick Cardenas, ” Darden, Darden, Ruth Chris Organizations: New, New York CNN, Darden, it’s, Olive, Longhorn Locations: New York, Olive

☆ The Fed goes big — a nice jumpstart to lowering mortgage rates and boosting housing plays
▼ + stars: | 2024-09-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

The Fed was widely expected to lower short-term interest rates, but the 25 basis points versus 50 debate raged right up until the announcement. Mortgage rates: We talked last week during our September Monthly Meeting about how housing activity can start to pick up when mortgage rates fall off their cycle highs to somewhere in the range between 5% and 6.5%. However, what the data shows is how sensitive activity is to every dip in mortgage rates. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome Powell, Stanley Black, Decker, Mortgage Banks, Jim Cramer's, Lisa Su, Oliver Garden, Jim Organizations: CNBC, ., Federal Reserve, Stanley, Mortgage, Micro, LongHorn, Darden, Jim Cramer's Charitable

☆ I've traveled to 109 countries. Here are 5 sporting events from around the globe that should be on everyone's bucket list.
▼ + stars: | 2024-09-14 | by ( Ash Jurberg | ) www.businessinsider.com time to read: +4 min

In fact, I've visited 109 countries and have attended major events like the Olympics, Grand Slam tournaments, and the World Cup. I've also attended a number of local sporting events in different countries, which have allowed me to meet new people, try different foods, and learn about cultural traditions. AdvertisementHere are five of the sporting events I've attended around the world that I think should be on everyone's travel bucket list. At many major sporting events, there are free fan events where people can gather to watch the game. My hometown in Australia is also an excellent place to check out local sporting events.

Persons: —, I've, Ash Jurberg, Jurberg, Roger Federer Organizations: Service, Business, Hanshin Tigers, Ice, University of Texas, Longhorn, Melbourne Locations: Japan, Finland, Helsinki, Bhutan, American, Texas, Australia

☆ Why 'Twisters' star Glen Powell is going back to college: 'I'm so close, I can taste it'
▼ + stars: | 2024-07-20 | by ( Nicolas Vega | ) www.cnbc.com time to read: +3 min

Powell attended his hometown University as a teenager, but dropped out to pursue his dream of making it in Hollywood. As he prepares to shoot his newest movie in London, Powell is fitting classes into his schedule. "I'm not going to be sitting in class with other students on the regular," Powell explained. With just a few credits separating him from joining the rest of his family as a UT alumnus, Powell isn't going to let Hollywood stardom stop him. Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life.

Persons: you've, Tom Cruise, Sydney Sweeney, Glen Powell, Edgar Wright's, Powell, Edgar, Wright, I'm, Powell isn't Organizations: University of Texas, hometown University, Hollywood Reporter, UT Austin, university's Moody College, OU, Longhorn, Hollywood, CNBC Locations: Austin, Hollywood, London, Texas

☆ Darden Restaurants to acquire Chuy's for approximately $605 million
▼ + stars: | 2024-07-17 | by ( Justine Fisher | ) www.cnbc.com time to read: +1 min

Darden Restaurants will acquire Chuy's Holdings for approximately $605 million in cash, the companies announced jointly on Wednesday. Darden agreed to acquire all outstanding shares of Chuy's at $37.50 per share, according to a press release. "Based on our criteria for adding a brand to the Darden portfolio, we believe Chuy's is an excellent fit that supports our winning strategy," Darden CEO Rick Cardenas said in a statement. "I am excited to welcome their 7,400 team members to Darden and diversify the Darden portfolio into a new dining category." Cardenas said in the press release that Chuy's has strong performance and growth potential.

Persons: Darden, Chris Steak, Rick Cardenas, Cardenas, Chuy's, Steven Hislop Organizations: Chuy's Holdings, Wednesday, Chuy's, Olive Garden, LongHorn, Darden Locations: Olive, Austin , Texas

☆ I'm moving to America's fastest-growing city. I get why it's so popular, but I hope it keeps the small-town Texas charm.
▼ + stars: | 2024-07-14 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +8 min

Read previewThis as-told-to essay is based on a conversation with Michelle Clifford, a 33-year-old sales manager from California who is moving to Celina, Texas, in July. Celina's population surged 26.6% from July 2022 to July 2023, making it the fastest-growing city in the US. There were a lot of things that I liked about Texas, and my job also had an office in Frisco. In Texas, rent is cheaper and we can experience country livingWe moved to Prosper, a town north of Dallas, in February. We were drawn to Celina because we have friends from California who moved here and college friends who are natives.

Persons: —, Michelle Clifford, TCU — Texas Christian University —, Prosper, Clifford, California I've, I'm, Clifford's, Celina doesn't Organizations: Service, Business, TCU — Texas Christian University Locations: California, Celina , Texas, Celina's, Orange County, Austin, Texas, Bay, He's, Southern California, San Diego, San Francisco, Oceanside , California, Frisco, Prosper, Dallas, Oceanside, Celina, Preston, America

☆ I ordered the same meal at The Capital Grille and LongHorn Steakhouse. The bigger chain definitely offered the better value.
▼ + stars: | 2024-07-09 | by ( Amena Ahmed | ) www.businessinsider.com time to read: +1 min

I ordered the same meal at The Capital Grille and LongHorn to see which chain offered the best food. The Capital Grille offered a top-notch dining experience with amazing French onion soup. AdvertisementMany popular chains are owned and operated by the same parent company, but that doesn't mean they're all created equally. Darden Restaurants owns and operates over 1,900 restaurants, including popular chains like Olive Garden, LongHorn Steakhouse, Yard House, Ruth's Chris Steakhouse, The Capital Grille, and more. I decided to try two of Darden's popular steak-house chains — LongHorn Steakhouse and The Capital Grille — to see which one offered the best value.

Persons: —, Chris Steakhouse Organizations: Service, Darden Restaurants, LongHorn, Business

☆ Top Wall Street analysts favor these dividend stocks for better returns
▼ + stars: | 2024-06-30 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Here are three attractive dividend stocks, according to Wall Street's top pros on TipRanks, a platform that ranks analysts based on their past performance. Darden RestaurantsThe first dividend stock is Darden Restaurants (DRI), which operates several popular brands in full-service dining, including Olive Garden, LongHorn Steakhouse and Yard House. While Darden exceeded analysts' earnings expectations, its sales slightly missed the Street's consensus amid increased discounting by rivals. Moreover, the company announced a dividend hike of nearly 7%, bringing the quarterly dividend to $1.40 per share. (See International Seaways' Stock Charts on TipRanks)CitigroupFinally, let's discuss this week's third dividend stock, banking giant Citigroup (C).

Persons: Wall, Darden, Peter Saleh, Saleh, TipRanks, Benjamin Nolan, Nolan, INSW, Goldman Sachs, Richard Ramsden, Ramsden Organizations: Darden, Olive Garden, LongHorn, Citigroup, Management, Citi, Services Locations: Olive, Rohnert Park , California

☆ Affordable luxury: Price-conscious Americans are turning to cheaper steakhouses
▼ + stars: | 2024-06-24 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

So business is booming at Texas Roadhouse and LongHorn Steakhouse, even as Americans pull back elsewhere. And in the three months through May 26, sales at Longhorn Steakhouse locations open at least 16 months rose 4%. An affordable luxuryWhen it comes to steakhouses, Texas Roadhouse and LongHorn Steakhouse are on the cheaper end, noted Jim Salera, a research analyst at Stephens. Patrons sit at a bar and watch sports at a Texas Roadhouse restaurant in November 2023. “Retail demand has been probably a little bit weaker,” said Michael Bailen, senior director of investor relations at Texas Roadhouse.

Persons: Texas, ”, Jim Salera, Salera, you’re, Peter Saleh, They’ve, Scott Olson, Saleh, Rick Cardenas, It’s, Michael Bailen, ” Bailen, “, ’ Organizations: New, New York CNN, Texas, Texas Roadhouse, LongHorn, Longhorn, Darden Restaurants, steakhouses , Texas Roadhouse, Stephens, of America, CNN, Bureau of Labor Statistics, Kroger Locations: New York, Texas, Olive, steakhouses , Texas, Skokie , Illinois, . Texas

☆ Olive Garden's parent company says it's luring diners in by not raising prices as much as rivals — even if it's not offering hefty discounts
▼ + stars: | 2024-06-21 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Read previewOlive Garden's parent company says the Italian chain is bucking industry traffic trends and luring in diners by not raising prices as much as its competitors. Despite this, Olive Garden's same-restaurant sales in the quarter fell by 1.5% year-over-year, Vennam said. Olive Garden's average prices went up by about 1% in the quarter, he said. Olive Garden is planning to increase prices by between 2.5% and 3% over the next year, Vennam said. AdvertisementBut Olive Garden's approach of focusing on low prices generally rather than offering hefty discounts was more sustainable in the long run, he said.

Persons: —, Olive, Olive Garden's, Raj Vennam, Vennam, Rick Cardenas, Chris Steak, Cardenas, Olive Garden Organizations: Service, Darden, Business, LongHorn Locations: Olive

☆ Diners are ditching pricey fast food for casual-dining chains, CEO of Olive Garden's parent company says
▼ + stars: | 2024-06-21 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +1 min

Darden Restaurants CEO Rick Cardenas said there's been a small shift from fast food to casual dining. Several casual chains now offer discounted combo deals to attract diners seeking better value. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCustomers fed up with increasingly high prices at fast-food restaurants are taking action, and they may be turning to places like Chili's and Applebee's instead. Rick Cardenas, the CEO of Darden Restaurants, said as much during a quarterly earnings call on Thursday.

Persons: Rick Cardenas, there's, —, Darden, Chris Steak Organizations: Darden, Service, Olive Garden, LongHorn, Business Locations: Olive

☆ 10 things to watch in the stock market Thursday including the latest call on Nvidia
▼ + stars: | 2024-06-20 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Stifel raised its price target on Nvidia to $165 a share from $114, implying nearly 22% upside from Tuesday's close. Keybanc raised its price target on Club holding Meta Platforms to $540 a share from $475, citing a "meaningful uptick" in ad prices. Tesla price target lowered to $227 a share from $293 at RBC Capital, but analysts maintained their outperform rating on the electric vehicle maker's stock. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stifel, Olive Garden, Piper Sandler, Keefe, Eli Lilly, Tesla, Uber, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Nvidia, Microsoft, Darden, LongHorn, Honeywell, CAES, Holdings, Accenture, Citigroup, Citi Services, Citi . Club, RBC Capital, RBC, Jim Cramer's Charitable, CNBC Locations: U.S

☆ Why Olive Garden doesn’t want to give discounts
▼ + stars: | 2024-06-20 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

But Olive Garden is holding out. In the quarter ending on May 26, sales at Olive Garden restaurants open at least 16 months dropped 1.5%. Olive Garden has tried to avoid such pushback by keeping its price increases low. “While Olive Garden same restaurant sales were below the industry, same-restaurant guest counts outperformed the industry,” Vennam said. “The way we do it is more sustainable.”Rather than vie for customers with steep discounts, Olive Garden is planning to bring people in by highlighting its regular offerings.

Persons: they’ve, Olive, “ We’re, ”, Rick Cardenas, Olive Garden, Cardenas, Raj Vennam, ” Vennam, Eddie V’s, David Henkes, Technomic, ” Cardenas Organizations: New, New York CNN, Darden, Olive Garden, Olive, LongHorn, Bureau of Labor Statistics, CNN Locations: New York, Applebee’s, Olive Garden’s, Olive

☆ Darden beats on earnings, even as Olive Garden, fine-dining sales drag
▼ + stars: | 2024-06-20 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Darden Restaurants on Thursday reported mixed quarterly results as Olive Garden's same-store sales fell for the second consecutive quarter. For fiscal 2025, Darden is forecasting that its same-store sales will grow just 1% to 2%. Darden's overall same-store sales were flat for the quarter, dragged down by weaker-than-expected sales at Olive Garden and its fine-dining restaurants. Last quarter, Olive Garden's same-store sales fell 1.8%, driven by a pullback from low-income consumers. LongHorn Steakhouse, which is overtaking Olive Garden as the gem of Darden's portfolio, was the only segment to report same-store sales growth.

Persons: Olive Garden's, Darden, Chris Steak, Eddie V's, Chris, Ruth's Chris Organizations: Darden, LSEG, Olive, LongHorn Locations: Olive

☆ Stocks making the biggest moves midday: Gilead Sciences, Accenture, Trump Media, AMD and more
▼ + stars: | 2024-06-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Trump Media & Technology Group — After former President Donald Trump's company said on Tuesday that the Securities and Exchange Commission had declared effective Trump Media's registration of additional shares, the stock dropped 13.5%. Super Micro Computer — Shares jumped 5% after Elon Musk said the company will help his AI firm, xAI, build a supercomputer . Winnebago reported $1.13 in adjusted earnings per share on $786 million of revenue for its fiscal third quarter. Commercial Metals — Shares gained 5.6% after the company reported a revenue beat for its third quarter. Analysts surveyed by LSEG had forecasted $1.80 earnings per share and $1.65 billion in revenue.

Persons: lenacapavir, Donald Trump's, Elon Musk, Piper Sandler, Winnebago, FactSet, Heather Balsky, Jabil, LSEG, —, Alex Harring, Hakyung Kim, Sarah Min, Jesse Pound, Lisa Han Organizations: Accenture, Gilead Sciences, Trump Media & Technology, Securities and Exchange Commission, Trump, Darden, Garden, LongHorn, LSEG . Revenue, Winnebago Industries, Bank of America, Jazz Pharmaceuticals, Metals, Revenue, KB

☆ Virginia GOP primary between House caucus chair and Trump-backed challenger too early to call
▼ + stars: | 2024-06-18 | by ( Arit John | Eric Bradner | ) edition.cnn.com time to read: +5 min

CNN —The Republican primary race between Virginia Rep. Bob Good, the House Freedom Caucus chair who angered allies of former President Donald Trump and former Speaker Kevin McCarthy, and state Sen. John McGuire was too early to call Tuesday night. The congressman from Virginia’s 5th Congressional District has faced a fierce effort to knock him out from a broad swath of the GOP in what became the most expensive House Republican primary of the cycle. Vindman’s role in Trump’s impeachment likely made a difference in his campaign. After spending most of his career in Illinois, Bondar moved to Texas in 2020, living outside Dallas – where he voted in this March’s Republican primary. State voting records show Bondar’s early in-person ballot in his primary race is the first time he has voted in Oklahoma.

Persons: Bob Good, Donald Trump, Kevin McCarthy, Sen, John McGuire, McCarthy, Good, Ron DeSantis, McGuire, we’re, ”, Trump’s, Eugene Vindman, Abigail Spanberger, Alexander Vindman, Volodymyr Zelensky, Trump, Hunter Biden, Joe Biden, –, National Security Council –, Vindman’s, Cole, Tom Cole, Paul Bondar, Bondar, impeaching Trump, “, ” Trump, Dallas –, Paul Bonder, Cheyenne Stanley, he’d Organizations: CNN, Republican, Virginia Rep, Congressional, GOP, Florida Gov, Democratic, Eugene, Virginia’s, Congressional District, Trump, Ukrainian, National Security Council, CIA, Oklahoma, Cole Americans, Security, PAC, University of Oklahoma, University of Texas, State, Longhorn Locations: Virginia’s, Oklahoma, Illinois, Texas, Dallas, Caddo

☆ The 4 key things we're watching in the stock market this holiday-shortened week
▼ + stars: | 2024-06-15 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Also helping was the 8.5% rally in portfolio heavyweight Nvidia following its 10-for-1 stock split on Monday. Within the Club this week, we heard from Broadcom , which reported strong quarterly results and announced its own 10-for-1 stock split. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Economists, Jerome Powell, financials, That's, Here's, FactSet, Lennar, LEN, Jabil, Smith, Jim Cramer's, Jim Cramer, Jim, Brendan McDermid Organizations: Nasdaq, Dow Jones, Wednesday, PPI, Apple, Broadcom, Oracle, Adobe, Nvidia, Investors, Housing, Monday, Darden, Olive Garden, Longhorn, U.S, Accenture, Kroger, KR, Wesson, Jim Cramer's Charitable, CNBC, Federal Reserve, New York Stock Exchange Locations: U.S, Olive, New York City

☆ How Red Lobster’s misguided endless shrimp promotion drove it into bankruptcy
▼ + stars: | 2024-05-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Red Lobster filed for bankruptcy Sunday, and the bankruptcy filing sheds new light on Thai Union’s role in the endless shrimp mishap. Red Lobster said it is investigating the circumstances of that promotion, which Red Lobster management opposed. Michael Nagle/Bloomberg/Getty Images“This decision created both operational and financial issues for [Red Lobster]… saddling the company with burdensome supply obligations” to Thai Union, Red Lobster said in the filing. “Certain operational decisions by former management have harmed [Red Lobster’s] financial situation in recent years,” Red Lobster said in its bankruptcy filing. Red Lobster stallsBut Red Lobster fell behind its sister brand Olive Garden under Darden.

Persons: Michael Nagle, ”, Alex Susskind, Susskind, General Mills, Bill Darden, Charley Woodsby, Darden, ” Woodsby, Jonathan Maze, Betty Crocker, Red, Mills, Cyrus McCrimmon, ” Joe Lee, Olive, Red Lobster’s, “ Darden, ” Les Foreman, Anthony Behar, SIPPL, AP Darden, they’ve, John Gordon, “, Patrick T, Fallon, Thiraphong Chansiri, ” “, ” Chansiri Organizations: New, New York CNN, Union became Red, Thai Union, Red Lobster, Bloomberg, Getty, Cornell University, CNN, Baby Boomers, General, Howard, Restaurant Business, Darden, Lobster, Denver Post, Harvard Business School, Longhorn, AP, Gate, ‘, Thai, Getty Images Thai Union, ” Thai Locations: New York, Thai Union, Bangkok, Thai, underinvestment, Lakeland , Florida, Orlando, America, Olive, Square , New York, Sale, Torrance , California, AFP

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