Cava stock tumbled 16% in afternoon trading on Wednesday, making it the latest fast-casual chain to feel Wall Street’s wrath after reporting disappointing quarterly sales. A year ago, eateries like Chipotle Mexican Grill and Cava were reporting double-digit same-store sales growth, even as the broader restaurant industry posted falling traffic and slumping sales. But times…
Check out the companies making the biggest moves midday: Harley-Davidson — The motorcycle manufacturer rallied 16% after the company announced a partnership between its financing arm and private asset manager KKR as well as Pimco. “This partnership transforms [Harley-Davidson Financial Services] into a capital-light financing business through the sale of existing and future retail loans…
Check out the companies making headlines in midday trading. Chinese autos — Chinese auto stocks retreated after BYD said it would lower prices on 22 electric and plug-in hybrid models until the end of June, igniting fears of a fresh price war in the Chinese market. U.S.-traded shares of Li Auto and Nio respectively slipped…
Yum Brands on Wednesday reported mixed quarterly results as Pizza Hut’s same-store sales dropped more than expected. Shares of the company fell more than 1% in premarket trading. Here’s what the company reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per share: $1.30…
Check out the companies making headlines in midday trading: GameStop — The meme stock soared 11.7%. On Tuesday, GameStop’s board announced it had unanimously approved a plan to buy bitcoin with a portion of its corporate cash, following a similar move by MicroStrategy. Dollar Tree — The discount retail chain popped 3.1% after announcing on…
