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James “Buster” Corley, the co-founder of popular arcade restaurant chain Dave & Buster’s, has died, the company said. Dave & Buster’s remembered Corley as “an innovative and creative force.”“His pioneering spirit and steadfast belief that ‘everybody is somebody’ set the foundation for bringing food and games to millions of Dave & Buster’s guests over the past 40 years. The Dallas County Medical Examiner's Office confirmed Corley died Monday, but a cause and manner of death was not available Wednesday afternoon. His family told ABC affiliate WFAA of Dallas that the man described in the Monday police incident was Corley. “Buster Corley had a stroke four months ago that caused severe damage to the communication and personality part of his brain,” Kate Corley, Corley's daughter, told the news station.
New York CNN —James “Buster” Corley, co-founder of the popular restaurant and entertainment chain Dave & Buster’s, has died. Dave & Busters said that Corley was an “innovative and creative force” in a statement confirming his death. Nearby, David Corriveau operated an “outrageous place for entertainment and games,” according to the company’s website. After noticing that customers would frequent both places, the entrepreneurs teamed up to create the first Dave & Buster’s in Dallas, combining arcade games and food. Dave & Buster’s became a publicly traded company in 2014 and has 150 locations in the United States.
Check out the companies making headlines before the bell:Campbell Soup (CPB) – Campbell Soup beat estimates by 14 cents with adjusted quarterly earnings of $1.02 per share. Pinterest (PINS) – Pinterest rose 1.2% in premarket trading after an official from activist investor Elliott Management was added to the image-sharing website operator's board of directors. Carvana tumbled 18.2% in premarket trading. Dave & Buster's (PLAY) – Dave & Buster's shares slid 3.9% in premarket action even though its quarterly profit matched analyst estimates. Airbnb (ABNB) – Airbnb fell 3.8% in premarket trading after Morgan Stanley downgraded the stock to underweight from equal-weight.
MongoDB — The database platform surged almost 22% following the company's quarterly results. State Street — Shares of the asset manager jumped more than 8% after the company announced a new buyback plan. Toll Brothers — Shares of the luxury homebuilder rose 7% after the company reported quarterly results. Chinese tech stocks — Shares of U.S. listed China stocks declined even as Beijing announced it will lift some Covid restrictions. Airlines — Airline stocks fell as a group during midday trading.
MongoDB — The database platform surged about 26% in extended trading following the company's quarterly results. Mongo posted better-than-expected revenue for the most recent quarter and issued upbeat fourth-quarter revenue guidance, according to Refinitiv. Dave & Buster's — Shares of the restaurant and video arcade operator dropped 5% even after it posted better-than-expected revenue and posted earnings that were in line with estimates, according to Refinitiv. Toll Brothers — Shares of the luxury homebuilder rose 1% after hours following the company's quarterly results. Toll Brothers posted home sales revenue that was better than Wall Street expectations, according to Refinitiv.
Driving the action were several key economic reports, including the November ADP employment and nonfarm payrolls reports and the October personal spending report. The comments came after a softer-than-expected ADP employment report, but before a stronger-than-expected nonfarm payrolls report. With these kinds of mixed signals, expect more market choppiness as investors remain on the hunt for more definitive signs that the Fed is winning its war on inflation and can therefore definitively ease up on their hawkish stance. Initial jobless claims for the week ending Nov. 26 were 225,000, a decrease of 16,000 from the prior week and below expectations of 235,000. Finally, on Friday the all-important nonfarm payrolls report was released, indicating a 263,000 payrolls increase in November, above the 200,000 expected.
Markets could be volatile and in search of a catalyst in the week ahead, as investors consider year-end trades in the lull before the Federal Reserve's December 13-14 policy meeting. Stocks were higher in the past week, with the year's worst performing sectors, communications services and consumer discretionary companies, leading the gains. On the geopolitical front, Arone said investors will watch the Dec. 6 runoff election in Georgia's senate race . Week ahead calendar Monday Earnings: Sumo Logic , Gitlab 9:45 a.m. Services PMI 10:00 a.m. ISM services 10:00 a.m. Initial jobless claims 10:00 a.m. Quarterly services survey Friday 8:30 a.m. PPI 10:00 a.m. Consumer sentiment 10:00 a.m. Wholesale trade
Investors looking for a solid restaurant play can expect a "compelling" risk-reward from shares of Dave & Buster's Entertainment , Deutsche Bank says. Analyst Brian Mullan upgraded shares of the restaurant and entertainment stock to a buy from a hold rating, saying in a note to clients that the "setup seems pretty decent" even in a bleak macro environment. Deutsche Bank also upped its price target on the stock to $48 a share, suggesting shares could rally nearly 30% in the months ahead. The stock has held up relatively better than the broader market this year, down just 3.5%. To be sure, Dave & Buster's isn't immune to a slowing macro environment, but Deutsche Bank believes the stock price is already reflecting that potential outcome.
Lyft – Shares of Lyft plummeted 21% after the company's earnings report showed mixed results in the last quarter. SolarEdge Technologies – Shares of SolarEdge rose 18% after the company reported record revenue in its last quarter that beat analysts' expectations. Revenue fell short of estimates coming in at $967 million instead of $979 million. Perrigo – Shares of pharmaceutical company Perrigo slumped 16% after the company reported earnings and revenue that fell short of analysts' expectations, according to Refinitiv. The company reported $198.3 million in revenue, which beat expectations, according to StreetAccount.
Here are the biggest calls on Wall Street on Tuesday: Deutsche Bank reiterates Roblox as buy Deutsche says it expects a strong earnings report for Roblox when the online gaming platform company releases results on Wednesday. Deutsche Bank upgrades Dave & Buster's to buy from hold Deutsche said in its upgrade of the stock that it sees a "compelling" risk/reward. Bank of America reiterates Meta as neutral Bank of America says it sees too many headwinds for Meta shares right now. Bank of America reiterates Nvidia as buy Bank of America says it's standing by shares of Nvidia heading into earnings next week. Deutsche Bank reiterates Electronic Arts as a top pick Deutsche says it's very bullish on the company's upcoming release slate. "
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