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    Sep 22, 2023
    • McDonald's Corp advanced 0.7% to $273.0 after the fast food chain operator said it plans to increase its royalty fees charged to franchisee operators to 5% from 4%. 

      McDonald's has not increased the fee for several decades but the company also charges for store rent, digital infrastructure and other marketing services.  
      • Scholastic Corp dropped 14.5% to $33.28 after the publishing company reported lower-than-expected revenue and earnings in its latest quarter. 

        Revenue in the fiscal first quarter ending in August declined 13% to $228.5 million reflecting continuing softness in retail sales. 

        Net loss surged to $74.2 million from $45.5 million and diluted loss per share expanded to $2.33 from $1.33 a year ago. 
        • Activision Blizzard Inc gained 1.9% to $93.93 after the U.K. regulators said new proposal from Microsoft met several terms required to clear the purchase of game developer for $69 billion.  
          • Sep 21, 2023
          • Klaviyo Inc decreased 1.7% to $32.21 after the company completed its initial public offering and sold 19.2 million shares at $30 each, 

            The stock of the marketing software automation company opened at $36.75 and closed at $32.76, about 9% higher than its price.
            • KB Home declined 4% to $46.10 despite the home builder reporting quarterly results that met investor expectations. 

              Revenue in the fiscal third quarter ending in August fell to $1.59 billion from $1.84 billion and the delivered homes declined 7% to 3,375 from a year ago. 

              Higher mortgage rates negatively impacted home prices and average selling price in the quarter declined to $466,300 compared to $508,700 a year ago. 

              The home building operating income margin declined to 11.3% from 17.7% and housing gross profit margin fell 520 basis points to 21.5%. 

              Net income declined to $149.9 million from $255.3 million and diluted earnings per share and diluted earnings per share fell to $1.80 from $2.86 a year ago. 
              • Starbucks Corp decreased 25 cents to $94.94 after the company said announced to hike its quarterly dividend by 7.5% to 57 cents a share from 53 cents payable on November 24 to shareholders on record November 10. 

                The coffee retailer opened a $220 million distribution and manufacturing facility in China, second largest market for the company. 
                • Darden Restaurants, Inc fell 1.5% to $147.72 after the company said same store sales at its comparable fine dining locations declined 2.8% in the fiscal first quarter ending on August 27. 

                  Consolidated comparable sales increased 5% driven by rise of 6.0% at Olive Garden stores and 8.1% jump at Long Horn Steak House locations.  

                  Revenue in the quarter increased to $2.7 billion from $2.4 billion and net income rose to $194.5 million from $193 million and diluted earnings per share rose to $1.59 from $1.56 a year ago. 

                  The company declared a dividend of $1.31 a share payable on November to shareholders on record on October 10. 

                  During the quarter, the company repurchased 0.9 million shares for a total of $143 million, and at the end of the quarter $509 million were still available in its $1 billion stock repurchase program. 
                  • FedEx Corp increased 4.6% to $262.09 after the parcel delivery company reported better-than-expected quarterly results and earnings rose despite the decline in revenue. 

                    Revenue in the fiscal first quarter ending in August declined 7% to $21.6 billion from $23.6 billion and net income jumped 23% to $1.0 billion from $875 million and diluted earnings per share rose 27% to $4.23 from $3.33 from a year ago. 
                    • Cisco Systems Inc decreased 4% to $53.26 after the company agreed to acquire cybersecurity company Splunk Inc for $157 a share or $28 billion in cash. 

                      Splunk jumped 21.1% to $144.82 after the deal announcement. 
                      • Sep 20, 2023
                      • Instacart declined 4.3% to $32.65 on the second day of trading after the grocery delivery company priced its initial public offering at $30 a share and struggled to hold its early gains on the first day. 

                        The company sold 30 million shares in the public offering but all shares changed hands on the first day of trading, suggesting that stock may face more headwinds in the next few weeks.