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Chipotle reported $2.51 billion in revenue, while analysts polled by Refinitiv had expected revenue of $2.53 billion. Meta Platforms — The Facebook parent jumped nearly 9% after reporting earnings and revenue for the second quarter that topped analysts' estimates. Same-store sales grew 11.7% in the second quarter. Sunnova Energy — Shares of the solar company slid more than 7% following weaker-than-expected financial results in the second quarter. Sunnova posted a wider-than-expected loss of 74 cents per share, while analysts expected a loss of 42 cents per share, according to FactSet.
Persons: Chipotle, Refinitiv, Edwards Lifesciences, Meta, Lam, McDonald's, Richard Dickson, Sunnova, , Jesse Pound, Alex Harring, Yun Li Organizations: Southwest Airlines —, eBay, FactSet, Technology, Revenue, Facebook, Lam, Honeywell —, Honeywell, Mattel, Comcast —, NBC, Management, Energy, Comcast, CNBC Locations: Refinitiv, China, FactSet
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBank of America: Expecting strong same-store sales growth from McDonald's, driven by IP leverageSara Senatore, Senior Analyst at Bank of America, discusses restaurant stocks, including McDonald's and Chipotle Mexican Grill.
Persons: Sara Senatore Organizations: Email Bank of America, Bank of America Locations: McDonald's
Meta Platforms reported earnings of $2.98 per share on $32 billion in revenue. Royal Caribbean , Norwegian Cruise Line — Shares of Royal Caribbean surged 8.7% after the cruise company beat expectations for the second quarter. Royal Caribbean reported $1.82 in adjusted earnings per share on $3.52 billion of revenue. The company reported $5.98 in adjusted earnings per share on $3.21 billion in revenue. The company reported $2.05 in adjusted earnings per share, below the StreetAccount consensus of $2.33 per share.
Persons: Chipotle, Refinitiv, Lam, L3Harris, Willis Towers Watson, Northrop Grumman, Northrop, Sunnova, Edwards, StreetAccount, , Alex Harring, Hakyung Kim, Samantha Subin, Yun Li Organizations: Refinitiv, Cruise, Royal Caribbean, Lam Research, KLA Corp, , L3Harris, Northrop Grumman, Northrop, Management, Energy, Honeywell, Honeywell International, Comcast —, Comcast, Southwest Airlines, eBay, Wall Street, CNBC Locations: Royal Caribbean, Refinitiv
CNBC's Jim Cramer said he sees success ahead for fast-food chain Chipotle, even though its stock got clobbered and dropped nearly 10% on Thursday. To Cramer, who has experience as a restaurant owner, some of the most important factors for success are traffic and throughput. The new grill can be only found in 10 high-volume Chipotle locations, Cramer said. Cramer grouped aerospace company Honeywell in with Chipotle as another stock that plunged on Thursday that he thinks will perform well in the future. And that's true for Chipotle, and it's true for Honeywell, just as it was true for Align when the stock rolled over last year," Cramer said.
Persons: CNBC's Jim Cramer, Cramer, Chipotle, should've Organizations: Honeywell Locations: Chipotle
McDonald's is creating a spinoff restaurant chain called CosMc's, executives said Thursday. "CosMc's is a small format concept with all the DNA of McDonald's, but with its own unique personality," McDonald's CEO Chris Kempczinski said. The name for the new brand comes from CosMc, a McDonaldland mascot who appeared in advertisements in the late 1980s and early 1990s. The brand will revive CosMc after the return of another McDonald's mascot, Grimace, jolted its U.S. business. "This quarter, if I'm being honest, the theme was Grimace," Kempczinski said.
Persons: Chris Kempczinski, McDonald's, CosMc, Grimace, Kempczinski, haven't Organizations: U.S, Boston Locations: CosMc, jolted
[1/2] The logo of Chipotle is seen on one of their restaurants in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File PhotoJuly 26 (Reuters) - Chipotle Mexican Grill (CMG.N) missed Wall Street estimates for quarterly sales on Wednesday as a pause in months-long price hikes hurt its top line, sending the company's shares down nearly 9% in extended trading. California-based Chipotle also projected current-quarter comparable sales to grow in the low- to mid-single-digit range, while analysts on average expected a 6.01% increase. Like other restaurants, Chipotle has hiked menu prices to offset the impact of higher input costs of everything from beef to potatoes. Chipotle was not seeing any weakness in the lower-income consumer despite high inflation, CEO Brian Niccol said in a post-earnings call.
Persons: Andrew Kelly, Chipotle, Brian Niccol, Scott Boatwright, Peter Saleh, Sante Faustini, Deborah Sophia, Devika Organizations: REUTERS, Intelligence, Science, Thomson Locations: Manhattan , New York City, U.S, California, Bengaluru, Kailyn Rhone, New York
July 26 (Reuters) - Chipotle Mexican Grill (CMG.N) missed Wall Street estimates for quarterly sales on Wednesday, signaling that demand for its rice bowls and burritos was losing steam in the face of higher menu prices and waning household budgets. Like other restaurants, Chipotle has also hiked menu prices to offset the impact of higher input costs of everything from beef to potatoes, deterring lower-income customers from ordering its pricier meals. Comparable sales at the restaurant chain rose 7.4% in the second quarter, compared with analysts' average estimate for a 7.59% increase, according to Refinitiv IBES data. Total revenue rose 13.6% to $2.51 billion in the three months ended June 30, also below estimates of $2.53 billion. Reporting by Deborah Sophia in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.
Persons: burritos, Chipotle, Deborah Sophia, Devika Organizations: Thomson Locations: Bengaluru
S&P 500 futures were little changed in overnight trading after the Federal Reserve instituted a quarter percentage point hike, bringing rates to the highest level in more than 22 years. Futures linked to the S&P 500 traded flat, while Dow Jones Industrial Average futures lost 48 points, or 0.13%. The moves came after the Federal Reserve implemented a widely-expected 25 basis point hike, putting interest rates at their highest level since 2001. "If there was any doubt, Chairman Powell reiterated the Fed's commitment to 2% inflation and restoring price stability." Fresh economic data points include initial jobless claims, June durable goods orders, a preliminary second-quarter GDP reading and pending home sales.
Persons: Jerome Powell, Management's Yung, Yu Ma, Powell Organizations: Federal Reserve, New York Stock Exchange, Dow Jones Industrial, Nasdaq, Meta, Dow Jones, Federal, BMO, Honeywell, McDonald's, Intel, Ford Motor, Mobile, Royal Caribbean, Investors Locations: New York City
Check out the companies making headlines after the bell:Meta Platforms – Shares of Meta Platforms jumped nearly 6% on stronger-than-expected quarterly results. Chipotle reported adjusted earnings of $12.65 a share on $2.51 billion in revenue. The entertainment technology company reported adjusted earnings of 26 cents a share. Lam posted adjusted earnings of $5.98 per share, beating estimates by 91 cents per share, per Refinitiv. L3Harris reported adjusted earnings of $2.97 a share on $4.69 billion in revenue, and lifted earnings and revenue guidance.
Persons: Chipotle, Refinitiv, Lam, — ServiceNow, FactSet, Sunnova, Richard Dickson, L3Harris, Aerojet, Macheel, Sarah Min, Darla Mercado Organizations: Meta, Revenue, Lam, eBay, Energy, Technology, Mattel –, Mattel, Seagate Technology, Technologies, Federal Trade Commission, L3Harris Locations: FactSet, Refinitiv
Chipotle Mexican Grill on Wednesday reported quarterly earnings that crushed expectations, but the burrito chain's sales fell short. The company's same-store sales grew 7.4%, falling shy of StreetAccount estimates of 7.5%. The company reiterated its full-year forecast of same-store sales growth in the mid- to high-single digit range. However, for the third quarter, Chipotle anticipates same-store sales growth in the low- to mid-single digit range. Wall Street is anticipating same-store sales next quarter of 5.9%, according to StreetAccount.
Persons: Chipotle Organizations: Refinitiv, burrito Locations: New York
Here's a look at six reasons why you're paying more for car repairs. More technology in carsJamie Grill | Getty ImagesCommon car repairs can run consumers $500 to $600 a visit and sometimes "much higher," according to AAA. More advanced — and more expensive — technology in vehicles is a big reason for higher repair costs, said Robert Sinclair, Jr., a spokesman for AAA Northeast. More auto wrecks mean greater demand for mechanics, serving to raise prices for car repairs, Sinclair said. Fewer auto repair techniciansMeanwhile, there's been a dearth of available mechanics to meet that greater demand, translating to higher labor costs, auto experts said.
Persons: Michael H, Grill, Robert Sinclair, Jr, Sinclair, Skyler Chadwick, Morgan, Chadwick, Peter Dazeley, there's, Organizations: Getty, AAA, AAA Northeast, Finance, Cox Automotive, P Global Mobility, Bank, National, Traffic Safety Administration, TechForce Foundation, Auto, Cox
What’s ahead this week for Wall Street and the economy
  + stars: | 2023-07-23 | by ( Krystal Hur | ) edition.cnn.com   time to read: +5 min
Case Shiller house price index for May and consumer confidence for July from the Conference Board. Earnings reports from AT&T, Boeing, Meta Platforms, Mattel, Stellantis and Chipotle Mexican Grill. Earnings reports from Coca-Cola, Mondelez, Honeywell, Keurig Dr Pepper, Royal Caribbean, Anheuser-Busch Inbev, Southwest Airlines and Hershey. Friday: Personal Consumption Expenditures price index for June, Employment Cost Index for the second quarter and University of Michigan consumer sentiment for July. Earnings reports from Procter & Gamble, Chevron and Exxon Mobil.
Persons: Jerome Powell, David Smith, Powell, Christopher Waller, , Dustin Thackeray, Tesla, Chris Isidore, , Case, Dr Pepper Organizations: CNN Business, Bell, CNN, Fed, Traders, Rockland Trust, Big Tech, Microsoft, Meta, Crewe Advisors, Nasdaq, Netflix, Safety, Health Administration, doesn’t, Biden Administration, Bureau of Labor Statistics —, Ryanair, Federal Reserve, Conference Board, General Motors, Daniels, Midland, Verizon, PacWest, Boeing, Mattel, Honeywell, Anheuser, Busch Inbev, Southwest Airlines, Hershey, University of Michigan, Procter & Gamble, Chevron, Exxon Mobil Locations: Rockland, American, United States, PacWest Bank, Royal Caribbean
Tuesday General Motors is set to report earnings before the bell, followed by a call at 8:30 a.m. What history shows: GM earnings beat earnings expectations 86% of the time, according to Bespoke. Alphabet is set to report earnings after the bell, with management slated to hold a call at 5 p.m. This quarter: Earnings for the tech giant are expected to have grown by 10% from the year-earlier period, per Refinitiv. What history shows: Bespoke data shows Alphabet earnings beat expectations 68% of the time, and the stock rises more than 1% on earnings day.
Persons: Michael Wayland, GM's EVs, GOOGL, Jennifer Elias, Goldman Sachs, Kash Rangan, Rangan, Peter Grom, Leslie Josephs, Max, Wells, Zachary Fadem, Jonathan Vanian, Meta, Refinitiv, Jefferies, Andy Barish, LUV, — CNBC's Michael Bloom Organizations: General Motors, Microsoft, Refinitiv, CNBC, company's, Silverado, United Auto Workers union, Investors, Management, PepsiCo, UBS, Boeing, Corporate, Twitter, Meta, Southwest Airlines, U.S, Southwest Locations: U.S, FactSet
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.
Persons: Dow, we'll, we've, Lawrence Yun, Jerome Powell's, Sartorius, Sartorius preannounced, It's, management's, We'll, Tesla, Ford's, Sherwin, Williams, Archer, Clark, Lam, Edwards Lifesciences, Hewlett, Northrop, Dr Pepper, Davidson, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Economic, National Association of Realtors, Nine, GE Healthcare, Microsoft, YouTube, Linde, LIN, Honeywell, Aerospace, Technologies, Ford, Procter & Gamble, Dynex, HBT, Hope Bancorp, NXP Semiconductors, Cadence Design Systems, Whirlpool, Logitech International, Liberty Global, Verizon Communications, General Motors, General Electric, GE, Spotify, Raytheon Technologies, Daniels, Midland, Albertsons Companies, ACI, Polaris Industries, Inc, Dow Chemical, DOW, Xerox, Texas Instruments, WM, Canadian National Railway Company, Chubb Corporation, Universal Health Services, Powell, Boeing, Hilton, Union Pacific, General Dynamics, Quest Diagnostics, Otis Worldwide, Grill, Lam Research, eBay, EBAY, Mattel, Hewlett Packard, L3Harris Technologies, Gross, Royal Caribbean Cruises, Southwest Airlines, Mastercard, Myers Squibb, Northrop Grumman, Hertz, Tractor Supply Company, HCA Healthcare, Boston, Hershey, Comcast, Harley, Norfolk Southern, Intel, Mobile, United States Steel Corp, KLA Corporation, Boston Beer Company, Nation Entertainment, Texas, Procter, Gamble, Exxon Mobil, Chevron, Charter Communications, AstraZeneca, Colgate, Palmolive, Newell Brands, Sanofi, Dwight, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: U.S, Hollywood, Cleveland, Corning, Kimberly, Bristol, Norfolk
I want to grill and grill and grill some more, eat outside and devour tomatoes and corn. Thread the knuckles of meat onto skewers, then grill them over a fairly hot grill; serve with seeded Italian semolina bread, hot sauce and a white sauce of mayonnaise, sour cream, minced garlic and a splash of red wine vinegar. Alternatively, you might try Yewande Komolafe’s new recipe for grilled steak with sauce rof (above), a Senegalese condiment made of minced onion, parsley, scallions and chile. I’d go with skirt or hanger steak there, and maybe one extra jalapeño for pop. Or try Melissa Clark’s gingery grilled chicken thighs with charred peaches?
Persons: Summers, Melissa Clark’s, Ali Slagle Locations: New York, Binghamton, Senegalese
CNN —Your Chipotle guacamole may soon be prepared by a robot. Meet “Autocado,” a Chipotle robot designed to perform the more tedious tasks of creating the chain’s guacamole, including cutting, coring and peeling avocados. But Chipotle (CMG) said this “collaborative robot” will not eliminate jobs, but, instead, employees will work with the robot to speed up guacamole production. For its design, Chipotle partnered with Vebu Labs, a robotics startup in California, to analyze the preparation process at various Chipotle restaurants and identify the most time-consuming tasks for employees. And Chipotle is already testing “Chippy,” a robotic kitchen assistant that uses artificial intelligence to make tortilla chips to dip in Autocado’s guacamole.
Persons: “ Autocado, Chipotle, Curt Garner, , Patrick T Organizations: CNN, Technology, Grill Inc, Fallon, Bloomberg, Getty, ., Vebu Labs Locations: El Segundo , California, U.S, California, Vebu, guacamole
36 Hours in Santa Barbara
  + stars: | 2023-07-13 | by ( Freda Moon | ) www.nytimes.com   time to read: +1 min
1 p.m. Get out on the waterAfter years of drought, Cachuma Lake — Santa Barbara’s expansive, tentacled reservoir about 30 minutes out of town — is full for the first time in more than a decade. Take Highway 154 over the San Marcos Pass to the Santa Ynez Valley to see the lake glistening between oak-covered hills. The drive is part of the experience, with potential stops including the Chumash Painted Cave State Historic Park , where visitors can see centuries-old rock art by the Indigenous Chumash people, and the Tequepis Trailhead , for those who would rather hike than float. At Cachuma Lake Recreation Area (admission $10), take advantage of the abundant water by renting a kayak (from $15 per hour) or boat (from $45 for two hours) from the Rocky Mountain Recreation Company . Because the lake is a reservoir, swimming isn’t permitted, but the park has a pool and Hook'd Bar & Grill has picnic tables beside the lake with live music on weekends.
Organizations: Historic Park, Recreation Locations: Santa, , San Marcos, Santa Ynez, Cave
Investigators now seek to depose Musk himself, the filing said, calling for the court to intervene to stop the investigation by ending the company’s consent agreement with the FTC. The filing coincided with FTC Chair Lina Khan’s testimony before the House Judiciary Committee on Thursday, where panel Republicans are expected to grill Khan on her agency’s handling of the investigation. The origins of the FTC probe trace back to allegations first reported by CNN and The Washington Post and made by Twitter’s former head of security, Peiter “Mudge” Zatko, last summer. Zatko claimed, in a damning whistleblower disclosure predating Musk’s takeover, that Twitter suffered from deep security vulnerabilities that violated the terms of its FTC agreement. The agreement was first signed in 2011 before being updated in 2022 when regulators accused Twitter of misusing account security information, including user phone numbers, for targeted advertising purposes.
Persons: , Elon Musk, Musk, Lina Khan’s, Khan, Twitter’s, Peiter “ Mudge ” Zatko, Zatko Organizations: Washington CNN, Twitter, Federal Trade Commission, FTC, CNN, Washington Post
Avocado prep is one of Chipotle employees' least favorite responsibilities, Curt Garner, Chief Customer and Technology Officer at Chipotle, told CNBC. Chipotle's robot could also help alleviate lingering labor shortages that have swept across the restaurant industry. Last year Chipotle started testing the chip-making robot Chippy, which was intentionally designed to make imperfect tortilla chips. To develop the Autocado robot, Chipotle worked with Vebu Labs, a food industry robotics startup. Future investments could include farming and supply chain innovations, as well as advanced robotics, Chipotle said in a press release.
Persons: Chipotle, Curt Garner, Chipotle isn't, Taco Bell Organizations: Service, Grill, Technology, CNBC, Brands, National Restaurant Association, Miso Robotics, White Castle, Buffalo Wild Wings, Vebu Labs Locations: Wall, Silicon, Irvine , California, Vebu
Avocados sliced, cored and peeled by the Autocado robot created by Chipotle and Vebu Labs. The fast-casual chain developed the collaborative robot, or cobot, in partnership with Vebu Labs, a California-based robotics startup. Chipotle Mexican Grill has developed a robot that can cut, core and peel avocados used in its guacamole as the restaurant industry faces a sustained labor shortage. To prepare avocados using the Autocado, Chipotle employees load up the device with a full case of the ripe fruit. Preparing avocados for guacamole routinely ranks as one of employees' least favorite tasks, Garner said.
Persons: Carl's, Chipotle, Curt Garner, Garner, Vebu, It's, We've, we'll Organizations: Vebu Labs, baristas, CNBC, Employees, guacamole, Miso Robotics Locations: Naperville , Illinois, California, Vebu
Top 3 Amazon Gift Card dealsThe best gift cards for foodiesDeal icon An icon in the shape of a lightning bolt. Great Price Doordash Gift Card Give the gift of delicious food with a Doordash gift card. Great Price California Pizza Kitchen Gift Card Everybody loves pizza, so this California Pizza Kitchen gift card is a pretty safe bet. Deal Victoria's Secret Pink Gift Card Gift your friend or loved one some style with this Pink gift card from Victoria's Secret. Great Price Uber Gift Card For the traveler in your life, this Uber gift card could be the perfect accessory.
Persons: it's, you'll, Price, Robin, You'll, Price Dave, Dave, Buster's, you've, Elaine Benes, we've Organizations: Amazon Prime, Amazon, GameStop, Buffalo Wild Wings, Cheesecake, Regal, GAP Locations: Grubhub, California
Top 3 Amazon Gift Card dealsThe best gift cards for foodiesDeal icon An icon in the shape of a lightning bolt. Great Price Doordash Gift Card Give the gift of delicious food with a Doordash gift card. Great Price California Pizza Kitchen Gift Card Everybody loves pizza, so this California Pizza Kitchen gift card is a pretty safe bet. Deal Victoria's Secret Pink Gift Card Gift your friend or loved one some style with this Pink gift card from Victoria's Secret. Great Price Uber Gift Card For the traveler in your life, this Uber gift card could be the perfect accessory.
Persons: you'll, Price, Robin, You'll, Price Dave, Dave, Buster's, you've, Elaine Benes, we've Organizations: Amazon, GameStop, Buffalo Wild Wings, Cheesecake, Regal, GAP Locations: Grubhub, California
Mark Cuban often sits quietly while his "Shark Tank" co-hosts are in a bidding war — and it isn't a coincidence. There will be times when someone walks in on 'Shark Tank' and I'm thinking to myself: 'There's no way I'm interested. "When I listen to the other sharks, they're going to tell me if I have any competition financially to do a deal. "Silence is money … money in the bank." Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank," which features Mark Cuban as a panelist.
Persons: Mark Cuban, Chris Voss, It's, Cuban, Barbara Corcoran, I'm, they've, Warren Buffett Organizations: Fireside, MIT Sloan School of Management, CNBC Locations: Cuban
Here’s What Buy Side Staffers Are Buying on Sale for Prime Day
  + stars: | 2023-07-11 | by ( ) www.wsj.com   time to read: +13 min
Here are products on sale that our team members are buying themselves—or already own and can highly recommend—during this year’s two-day Prime event. I’ve set goals to cook more than I eat out or order in to save money and for my health goals, so I’ll be purchasing this All-Clad cookware set this Prime Day for all my cooking needs. The 8-inch version is on sale for Prime Day, coming in at less than $300. Reviewers note that they’re ideal for larger hands.” —Leslie Yazel, editor, head of contentSalon-level styling tool“I bought the Revlon One Step Volumizer styling brush last Prime Day, and it has been a favorite all year. My partner always steals them when we travel, so this Prime Day, I’ll be buying him his own pair while they’re $100 off ahead of our fall wedding-season travels.” —Chao Li, head of product
Persons: what’s, juicer “ I’ve, , Nick Guy, I’ve, ” — Ian Salisbury, AirTag, Brittany Nguyen, Madeline Diamond, Emily Schwartzberg, It’s, ” — Emily Welsh, it’s, ” — Alix Milne, Rina Stone, I’ll, — Caroline Wernecke, Hydrating, — Irma Sahinovic, Astrid Stawiarz, ” — Leslie Yazel, Jessica Woodbury, I’d, Caroline Wernecke, ” — Bellamy Richardson, Bissell, ” — Chao Li Organizations: Side, Timex Men’s Expedition, Revlon, Altos, Colgate, Sony WH, 1000XM4, Sony Locations: France
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/sports/golf/pga-tour-liv-golf-senate-hearing-59260c22
Persons: Dow Jones
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