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Cava - 6 Johnson - 4 Jim Cramer - 4 Brett Schulman - 3 Matt Kennedy - 3 Kennedy - 3 Manya Saini - 2 Savyata Mishra - 2
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☆ Cava CEO Brett Schulman on IPO offering, road to profitability
  + stars: | 2023-06-15 | 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 EmailCava CEO Brett Schulman on IPO offering, road to profitabilityCava CEO Brett Schulman joins 'Squawk on the Street' to discuss the restaurant chain's IPO offering at the New York Stock Exchange, profitability timeline, the appeal of Mediterranean cuisine, and more.
Persons: Brett Schulman Organizations: Cava, New York Stock Exchange
☆ Restaurant chain Cava valued at $4.7 billion as shares pop in stellar debut
  + stars: | 2023-06-15 | by ( Manya Saini Echo Wang | Manya Saini | Echo Wang | ) www.reuters.com   time to read: +2 min
June 15 (Reuters) - Mediterranean restaurant chain Cava Group (CAVA.N) notched a valuation of $4.7 billion in a stellar market debut on Thursday, signaling the IPO market was gaining momentum after a lull in 2022. Shares opened at $42 apiece on the NYSE, nearly double the IPO price of $22, last up 89%. Cava sold about 14.4 million shares in the offering, raising $318 million. “We think the markets are always welcoming long-term sustainable growth stories, especially category defining brands, as we try and define the Mediterranean category,” Cava Co-founder and CEO Brett Schulman said. Cava was founded by three friends with Greek roots — Ted Xenohristos, Ike Grigoropoulos and Dimitri Moshovitis — and opened its first restaurant Cava Mezze in Rockville in 2006.
Persons: Cava, Matthew Kennedy, Johnson, Brett Schulman, Ted Xenohristos, Ike Grigoropoulos, Dimitri Moshovitis —, Morgan, Jefferies, Manya Saini, Savyata Mishra, Echo Wang, Vinay Dwivedi Organizations: NYSE, Renaissance Capital, Reuters, Rivian, ”, Restaurant Brands, Cava, Citigroup, Thomson Locations: Cava, CAVA, United States, ” Cava, Rockville, Bengaluru, Echo, New York
☆ Stock Market Today: Dow Rallies 400 Points After Fed Pauses Rate Hikes
  + stars: | 2023-06-15 | by ( ) www.wsj.com   time to read: +2 min
U.S. stocks finished higher Thursday, lifted by gains across everything from shares of manufacturers to oil producers. The three main U.S. indexes were in the green, each rising more than 1% apiece, with the blue-chip Dow industrials up more than 400 points. The benchmark 10-year yield settled at 3.727%, from 3.796% late Wednesday, while the two-year yield was at 4.648%, from 4.707%. The market for IPOs has been slow lately, but shares of Mediterranean-style restaurant company Cava Group jumped on their first day of trading Thursday. Japan's currency fell against the dollar, trading at its weakest level since November, as traders cited concerns over Japan's ultra-loose monetary policy.
Persons: Dow, Estee Lauder, Kroger Organizations: Investors, Federal Reserve, Treasury, Analysts, Target, European Central Bank Locations: U.S, IPOs, Beijing, Europe
☆ Cramer explains how four different camps of buyers see mixed messages in the Fed's rate strategy
  + stars: | 2023-06-15 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
CNBC's Jim Cramer on Thursday explained four different schools of thought in examining the mixed messages they took from Wednesday's Federal Reserve meeting. Cramer noted that the first camp of buyers believe the Fed's bark is worse than its bite and don't think it will end up hiking rates to the point of recession. These buyers, according to Cramer, are investing in industrial companies that do well in a bustling economy. Cramer believes these buyers would be wise to invest in Big Pharma because the industry is "more or less recession-proof." "When you put these four, often contradictory, groups of buyers together, you can get a magnificent run across the board like we had today," Cramer said.
Persons: CNBC's Jim Cramer, Cramer, Eli Lilly, Johnson Organizations: Wednesday's Federal, Fed, Big Pharma Locations: Cava
☆ Cava is 'one of the companies I'm most excited' about, says Kind founder Daniel Lubetzky
  + stars: | 2023-06-15 | 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 EmailCava is 'one of the companies I'm most excited' about, says Kind founder Daniel LubetzkyDaniel Lubetzky, Kind founder, joins 'Squawk Box' to discuss fast casual restaurant chain Cava going public today, how the IPO compares to that of Chipotle, and more.
Persons: Daniel Lubetzky Daniel Lubetzky Locations: Cava
☆ Mediterranean restaurant chain Cava is going public. More restaurants could follow its lead
  + stars: | 2023-06-15 | by ( Amelia Lucas | ) www.cnbc.com   time to read: +3 min
As Cava prepares to make its public market debut Thursday, other restaurant companies will be watching closely while they decide whether to follow in the Mediterranean restaurant chain's footsteps. The last 18 months have marked the slowest initial public offering market since the financial crisis. Cava's IPO could help break that drought, as a handful of restaurants watch to see how the chain fares as they mull whether to jump into the public market themselves. "A successful IPO from Cava should open the door to more restaurant IPOs," said Matt Kennedy, senior strategist at Renaissance Capital. That bodes well for the restaurant companies waiting in the wings to go public.
Persons: Cava, Matt Kennedy, Kennedy, Kevin McCarthy, Neuberger Berman Organizations: U.S, Renaissance, Cava, New York Stock Exchange, CNBC, Group, Brands Locations: Ukraine, U.S, Cava, Chão
☆ There's a real appetite for growth stocks, says FirstMark's Rick Heitzman on CAVA's IPO
  + stars: | 2023-06-15 | 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 EmailThere's a real appetite for growth stocks, says FirstMark's Rick Heitzman on CAVA's IPORick Heitzmann, FirstMark Capital founder and managing partner, joins 'Last Call' to talk CAVA's big IPO and what it could mean for a previously sluggish IPO market.
Persons: Rick Heitzman, Rick Heitzmann Organizations: FirstMark Capital
☆ We're seeing a thawing in the IPO market, says NYSE President Lynn Matin following CAVA's IPO
  + stars: | 2023-06-15 | 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 EmailWe're seeing a thawing in the IPO market, says NYSE President Lynn Matin following CAVA's IPOLynn Martin, NYSE President, joins 'Closing Bell Overtime' to discuss CAVA's big IPO day, the IPO market-at-large, and whether or not SPACs are a thing of the past.
Persons: Lynn Matin, Lynn Martin Organizations: NYSE
☆ Stocks making the biggest moves midday: Cava, Domino's Pizza, Kroger, Lennar and more
  + stars: | 2023-06-15 | by ( Michelle Fox | ) www.cnbc.com   time to read: +4 min
The Wall Street firm said it believes there will be "significant improvement" in the company's return on invested capital over the next two to three years. Domino's Pizza — The pizza chain gained 6.46% after Stifel upgraded the stock to buy from hold. The Wall Street firm said investors should buy the weakness in Target shares, which are down 15% over the past month. The Wall Street firm said it was bullish long term, but believes the stock price has been seeing appreciation much stronger than experienced in the broader market. The Wall Street firm also boosted its price target to $40 from $36, suggesting upside of more than 20% from Wednesday's close.
Persons: Kroger —, Kroger, Rodney McMullen, Bernstein, Lennar, Oppenheimer, Corning, John Wiley, Mizuho, Patterson, Morgan Stanley, Yun Li, Alex Harring, Jesse Pound, Sarah Min Organizations: New York Stock Exchange, Cava Group, Deutsche Bank, Stifel, —, Technologies, Corning —, Citi, Corning, Management, UTI Energy, Patterson Locations: Wednesday's
☆ Traders await CAVA IPO's first trade
  + stars: | 2023-06-15 | 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 EmailTraders await CAVA IPO's first tradeCNBC's Bob Pisani joins 'The Exchange' to discuss the IPO book-building process, estimates for where CAVA's IPO will open, and the list of IPOs entering the market.
Persons: CAVA, Bob Pisani
☆ Mediterranean restaurant chain Cava stock soars as much as 107% in market debut
  + stars: | 2023-06-15 | by ( Amelia Lucas | ) www.cnbc.com   time to read: +3 min
A banner for the Mediterranean restaurant chain Cava is displayed outside of the New York Stock Exchange (NYSE) as the company goes public on June 15, 2023 in New York City. The stock trades on the New York Stock Exchange under the ticker symbol "CAVA." The company sold 14.4 million shares, raising nearly $318 million and initially valuing the restaurant chain at roughly $2.45 billion. Shares of Mediterranean restaurant chain Cava soared as much as 107% in its market debut Thursday morning before giving up some of those gains. Sector leader Chipotle made its public market debut back in 2006 and has seen its market value grow to $56.9 billion.
Persons: Zoes, It's, Brett Schulman, Chipotle Organizations: New York Stock Exchange, Group, Brands Locations: Cava, New York City, Chao
☆ Cava prices IPO at $22 per share, above stated range
  + stars: | 2023-06-14 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com   time to read: +1 min
Mediterranean fast-casual restaurant chain Cava priced its initial public offering at $22 per share, above a previously stated range, the company said Wednesday. Cava said it sold 14.4 million shares, which at a price of $22 per share, raises nearly $318 million. At $22 per share, the company is valued at roughly $2.45 billion, based on an outstanding share count of more than 111 million shares. Last year, Cava reported net sales of $564.1 million, up 12.8% from the year prior. However, its reported net loss was $59 million, wider than a net loss of $37.1 million in 2021.
Persons: Cava, — CNBC's Amelia Lucas Locations: Cava, Pasadena , California
☆ A 'string of successes' fueling the IPO market, and the ETF that tracks it
  + stars: | 2023-06-14 | by ( Kevin Schmidt | ) www.cnbc.com   time to read: +2 min
"We do see a light at the end of the tunnel," Matt Kennedy, Senior IPO Market Strategist for Renaissance Capital, told CNBC's Bob Pisani on "ETF Edge" on Monday. Kennedy's firm runs the Renaissance Capital IPO ETF (IPO), which tracks the performance of newly public company stocks. According to Renaissance Capital, holdings in the IPO ETF cycle out three years after being listed on the market. The 10-year average of capital raised for new initial public offerings is $55 billion, but only $7.7 billion was raised last year, according to Renaissance Capital. Nearly the same amount has already been raised so far this year ($7.3 billion), fueling anticipation that the market is finally getting back on track.
Persons: Matt Kennedy, CNBC's Bob Pisani, Kennedy, They're Organizations: Renaissance Capital, Capital, Renaissance, ARM, Foods Locations: Snowflake, Airbnb, Cava, U.S, Fogo de Chao, Klarna
☆ Here’s our Monthly Meeting rapid-fire update on all 35 stocks in the Club’s portfolio
  + stars: | 2023-06-14 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com   time to read: +14 min
Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. In fact, he named Disney as the best Club stock to gift to a young grandchild. CEO Jim Farley's focus on only making profitable cars and trucks will be put to the test in the current quarter. 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's, Jim, Apple's, there's, Bausch, Estee Lauder, Fabrizio Freda, Berenberg, he's, Jim Farley's, Ford, Locker, Foot Locker's, Mary Dillon's, Patience, we're, Vimal Kapur, Johnson, J, Eli Lilly, Eli Lilly's, Mark Zuckerberg, Morgan Stanley, We're, James Gorman, enabler, aren't, Scott Sheffield, Coterra, PXD, Jim said, Stanley Black, Decker, TJ Maxx, Wells Fargo, Charlie Scharf's, Scharf, Wells, Wynn, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Nvidia, Amazon Web Services, Bausch Health, Caterpillar, Costco Wholesale, Costco, Humana, Coterra Energy, Disney, Emerson, Emerson Electric, National Instruments, Ford, Management, GE Healthcare, Halliburton, HAL, Honeywell, Johnson, Linde, LIN, Meta, underwriters, Cava, Microsoft, Palo Alto Networks, Natural Resources, Procter & Gamble, Constellation Brands, Modelo Especial, U.S, TJX, Marshalls, Home Goods, Wynn Resorts, WYNN, Starbucks, Las, Jim Cramer's Charitable Locations: Asia, China, California, Mounjaro, Palo, Wells, Las Vegas, Macao
☆ Nvidia needs to dominate the A.I. market to justify its price point, says NYU's Aswath Damodaran
  + stars: | 2023-06-13 | 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 EmailNvidia needs to dominate the A.I. market to justify its price point, says NYU's Aswath DamodaranAswath Damodaran, NYU School of Business professor, joins 'Closing Bell' to discuss Cava's IPO comeback and the multiples for big tech.
Persons: NYU's, Damodaran Organizations: Nvidia, NYU School of Business
☆ Cramer expects Cava to roar when it goes public, but warns investors to tread carefully
  + stars: | 2023-06-13 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
CNBC's Jim Cramer on Tuesday gave investors his take on Cava, the popular fast-casual Mediterranean chain that's expected to go public this week. "And, please, if you do want to buy Cava in the aftermarket, I'm begging you, please use limit orders, not market orders, protect yourself. In fact, you should always be using limit orders, because you have no control over the price you pay with market orders." Cramer said he expects underwriters to underprice Cava shares at first in order to engineer "a nice first-day pop." Cramer also warned investors about the pitfalls of the IPO market in general, with most following a similar cycle.
Persons: CNBC's Jim Cramer, Cava, Cramer, underprice Cava, Chipotle, Seltzer Organizations: Reuters, underprice, underwriters Locations: Cava
☆ I expect Cava to be underpriced at IPO, says Jim Cramer
  + stars: | 2023-06-13 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
I expect Cava to be underpriced at IPO, says Jim Cramer'Mad Money' host Jim Cramer talk buying opportunities for mediterranean fast casual restaurant Cava ahead of its IPO.
Persons: Cava, Jim Cramer
☆ 'I expect Cava to roar' on IPO, says Jim Cramer
  + stars: | 2023-06-13 | by ( Jim Cramer | ) 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 Email'I expect Cava to roar' on IPO, says Jim Cramer'Mad Money' host Jim Cramer talk buying opportunities for mediterranean fast casual restaurant Cava ahead of its IPO.
Persons: Jim Cramer
☆ It only take one high profile deal to get people excited about the IPO market again, says Jim Cramer
  + stars: | 2023-06-13 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
It only take one high profile deal to get people excited about the IPO market again, says Jim Cramer'Mad Money' host Jim Cramer takes a closer look at the IPO market as a whole ahead of Cava's IPO later this week.
Persons: Jim Cramer
☆ Green shoots for the IPO market? More companies are looking at going public
  + stars: | 2023-06-12 | by ( Bob Pisani | ) www.cnbc.com   time to read: +4 min
The Great IPO Drought has gone on for 18 months, but some are hopeful that may be ending. It still is a mid-sized deal, but it's getting more attention than usual because there is some hopes the Great IPO Drought may have a shot at ending. "A market rise is a necessary precursor for a rebound in IPOs," Matt Kennedy, senior IPO market strategist for Renaissance Capital, told me. Kennedy would know: Renaissance Capital runs the Renaissance Capital IPO ETF, a basket of recent IPOs. It's a long slog back to a 'normal' IPO market As bad as it has been in 2023, it's better than it was in 2022.
Persons: Matt Kennedy, Santosh Rao, Kennedy, DoorDash, Kenvue, Johnson, It's, it's, Cava, Rao Organizations: NYSE, Renaissance Capital, Manhattan Venture Partners, Capital, ARM, Foods, Saks Locations: Cava, IPOs, Snowflake, Palantir, Chao
☆ Restaurant chain Cava raises IPO valuation target to $2.23 bln
  + stars: | 2023-06-12 | by ( ) www.reuters.com   time to read: +1 min
June 12 (Reuters) - Cava Group Inc, which operates a chain of Mediterranean fast-casual restaurants in the United States, said on Monday that it is now aiming for a valuation of up to $2.23 billion in its U.S. initial public offering. Cava now intends to sell roughly 14.44 mln shares to raise $289 million based on the top end of the new proposed range, up from $274.4 million last week. The company is expected to debut on the New York Stock Exchange under the symbol "CAVA" on Thursday. Cava logged a net loss of $59 million in fiscal 2022 compared to $37.4 million in the prior year. Reporting by Manya Saini and Savyata Mishra in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Persons: Manya Saini, Savyata Mishra, Shailesh Organizations: Inc, New York Stock Exchange, Cava, Thomson Locations: Cava, United States, Bengaluru
☆ I ate at Cava, the popular Mediterranean fast-casual chain that's going public and says it's worth $2.1 billion. It was mostly delicious but I was let down by the hummus.
  + stars: | 2023-06-08 | by ( Nancy Luna | ) www.businessinsider.com   time to read: 1 min
Overall, I can see why Cava is preparing to go public now. Restaurant visits are surging and Cava needs the capital to bring its brand to the masses. They have a captive audience in Gen Z, a generation looking for brands that share their eating habits and ethos.
Persons: Gen Z, Nancy Luna Locations: Cava
☆ Restaurant Chain Cava Set to Launch IPO
  + stars: | 2023-06-04 | by ( Corrie Driebusch | Heather Haddon | ) www.wsj.com   time to read: 1 min
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/articles/restaurant-chain-cava-set-to-launch-ipo-37dd8e4e
Persons: Dow Jones
☆ Panera Bread parent announces CEO transition as it prepares for 'eventual IPO'
  + stars: | 2023-05-23 | by ( Amelia Lucas | ) www.cnbc.com   time to read: +2 min
Customers patronize an open Panera Bread location in the Walt Whitman Mall on March 26, 2020 in Huntington Station, New York. JAB Holding, the investment arm of the Reimann family, bought Panera Bread in 2017 for $7.5 billion, taking it private. In the press release, Panera Brands said the leadership changes are "in preparation for its eventual IPO." Panera Bread, the largest chain in the portfolio, has long been known as a technology leader in the restaurant industry. Panera Bread has also been testing A.I.
☆ Cloud-based Restaurant365 hits unicorn status after $135 mln funding round
  + stars: | 2023-05-19 | by ( ) www.reuters.com   time to read: +1 min
May 19 (Reuters) - U.S. cloud-based restaurant manager Restaurant365 has turned a 'unicorn' after a $135 million funding round, the company said on Friday. Start-up funding space, which is reeling from liquidity crunch since last year, has started to see some signs of relief. Earlier in the week, Reuters reported that U.S. property insurer SageSure achieved an unicorn status after closing a $250-million funding round. "L Catterton has deep experience investing in world-class restaurant brands globally," says Ian Friedman, Partner at L Catterton who will join Restaurant365's board. "The primary driver of this round is uniting with two strategic investors so intimately tied to the restaurant industry," the company said.
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