Restaurants
Jim Cramer’s Investing Club meeting Wednesday: Santa Claus rally, down-and-out buys, Starbucks call, Sunday Ticket
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. Santa Claus rally may be here early ‘Buy things that nobody wants’ We still like Starbucks Alphabet’s smart play for NFL package 1. Santa Claus rally may be here early […]
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Jefferies downgrades Starbucks, says recession could hurt consumer spending in 2023
It’s time to move to the sidelines on Starbucks , according to Jefferies. Analyst Andy Barish downgraded the coffee chain to hold from buy, saying shares are likely going to trade in a narrow range after their outperformance this year. “With SBUX stock up +40% since the YTD low in May (S & P -2.8%), […]
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Olive Garden parent company Darden beats estimates, raises outlook
An Olive Garden restaurant in Times Square in New York Richard Levine | Corbis | Getty Images Darden Restaurants on Friday reported quarterly earnings and revenue that beat Wall Street’s expectations, as consumers continued to eat out despite pressure from inflation. The company also raised its earnings outlook for fiscal 2023 to a range of $10.3 billion […]
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Goldman Sachs downgrades Cheesecake Factory, says traffic could keep falling amid inflationary pressures
Inflationary challenges will bite into Cheesecake Factory ‘s stock next year, according to Goldman Sachs. Analyst Jared Garber downgraded Cheesecake Factory to sell from neutral. He also lowered his price target for the stock to $29, which reflects a downside of 12.2% over Friday’s close. The stock traded 3.1% lower in the premarket. “We see […]
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Federal prosecutors ask judge to postpone SEC case in alleged New Jersey deli stock fraud
Hometown Deli, Paulsboro, N.J. Mike Calia | CNBC Federal prosecutors in New Jersey want the Securities and Exchange Commission to postpone its civil case against the alleged masterminds behind a $100 million fraud scheme involving a small-town deli so it won’t get in the way of their ongoing criminal case. Prosecutors for the District of […]
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Here’s a map of Starbucks stores that voted to unionize
A year ago, workers at a Starbucks store in Buffalo, New York, voted to unionize, a first for the chain. The union win at the Elmwood Avenue location has since spurred more than 300 of the chain’s cafes to follow suit with their own petitions for union elections and inspired workers at Chipotle Mexican Grill, […]
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Candy maker Ferrero to buy Halo Top owner, expanding North American business
Halo Top pints of ice cream in Los Angeles, California. Kirk Mckoy | Los Angeles Times | Getty Images Candy maker Ferrero is buying Wells Enterprises, the ice cream giant that owns Blue Bunny, Blue Ribbon Classics and Halo Top. The two privately held companies did not disclose financial terms of the deal in their […]
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McDonald’s hopes deals like 50-cent double cheeseburgers beef up sales on its mobile app
The Ronald McDonald balloon floats past Radio City Music Hall during the 96th Annual Macy’s Thanksgiving Day Parade in New York City on November 24, 2022. Yuki Iwamura | AFP | Getty Images Last holiday season, McDonald’s leaned on singer Mariah Carey’s starpower and discounts to drive customers to their mobile app. This year, the […]
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PepsiCo plans to cut hundreds of corporate jobs, report says
Pepsi soft drinks are displayed at a convenience store in San Francisco, California. Justin Sullivan | Getty Images PepsiCo is eliminating hundreds of corporate jobs in North America, according to the Wall Street Journal. The layoffs will affect employees of its food and beverage businesses in Chicago; Plano, Texas and Purchase, New York, the Journal […]
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Deutsche Bank downgrades Starbucks, says further gains will be harder to come by
It’s time to move to the sidelines on Starbucks , according to Deutsche Bank. Analyst Brian Mullan downgraded shares of Starbucks to hold from buy, saying gains for the stock will be harder to come by after a recent run-up. “[We] are not negative on SBUX; but rather we are simply moving to Hold on […]
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