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McDonald's Higher on Earnings, Cava Declines, Live Nation Falls on 3Q Results

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Manage episode 517878424 series 3654950
Content provided by iHeartPodcasts. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by iHeartPodcasts or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

On this episode of Stock Movers:

- Shares of McDonald’s (MCD) were higher after the fast food giant reported faster-than-expected US sales growth last quarter as diners prioritized cheap fast food and pulled back from more premium meals at fast-casual chains. US comparable-store sales, which reflect the results of established locations, increased 2.4% in the third quarter, with the company attributing the rise mostly to higher per-visit spending. Overall comparable sales, which adds in international markets, were in line with expectations, while adjusted earnings per share fell short of the average of estimates compiled by Bloomberg.

- Cava (CAVA) is flat after declines earlier in the day. The restaurant cut its full-year sales growth targets after foot traffic stalled in the third quarter, citing financially squeezed consumers forgoing fast-casual restaurants.

- Live Nation (LYV) Live Nation shares are down 5.1% on Wednesday after the concert promoter and ticker seller reported third-quarter results that missed expectations on key metrics, although analysts remain positive about its longer-term prospects.

See omnystudio.com/listener for privacy information.

  continue reading

1290 episodes

Artwork
iconShare
 
Manage episode 517878424 series 3654950
Content provided by iHeartPodcasts. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by iHeartPodcasts or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

On this episode of Stock Movers:

- Shares of McDonald’s (MCD) were higher after the fast food giant reported faster-than-expected US sales growth last quarter as diners prioritized cheap fast food and pulled back from more premium meals at fast-casual chains. US comparable-store sales, which reflect the results of established locations, increased 2.4% in the third quarter, with the company attributing the rise mostly to higher per-visit spending. Overall comparable sales, which adds in international markets, were in line with expectations, while adjusted earnings per share fell short of the average of estimates compiled by Bloomberg.

- Cava (CAVA) is flat after declines earlier in the day. The restaurant cut its full-year sales growth targets after foot traffic stalled in the third quarter, citing financially squeezed consumers forgoing fast-casual restaurants.

- Live Nation (LYV) Live Nation shares are down 5.1% on Wednesday after the concert promoter and ticker seller reported third-quarter results that missed expectations on key metrics, although analysts remain positive about its longer-term prospects.

See omnystudio.com/listener for privacy information.

  continue reading

1290 episodes

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