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    Jul 28, 2023
    • Sweetgreen Inc declined 11.5% to $13.60 after the salad chain reported weaker-than-expected sales and comparable store sales decelerated from a year ago. 

      Revenue in the second quarter increased 22% to $152.5 million from $124.9 million and same store sales change slowed to 3% from 16% a year ago. 

      Average restaurant sales were stable around $2.9 million in the last four quarters.  

      Restaurant-level profit was $31.1 million and restaurant-level profit margin was 20% compared to $23.1 million and 19% respectively in the prior year period. 

      Net loss declined to $27.3 million from $40.5 million and diluted loss per share decreased to 24 cents from 37 cents a year ago. 

      The salad chain forecasted fiscal year 2023 revenue between $575 million and $595 million and same store sales to increase between 2% and 6%, and restaurant level profit margin between 16% and 18% compared to the previous estimate between 15% and 17%. 

      The company estimated net new restaurants opening between 30 and 35 in 2023. 
      • Jul 27, 2023
      • Meta Platforms Inc jumped 6.8% to $319.08 after the company reported better-than-expected earnings on the back of strong advertising revenue. 

        Total revenue increased 11% to $31.9 billion from $28.8 billion and net income declined 16.8% to $7.8 billion from $6.7 billion and diluted earnings per share dropped to $2.98 from $2.46 a year ago.  

        The company repurchased $793 million of Class A common stock in the first quarter and as of June 30, 2023, the company had $40.91 billion available and authorized for repurchases. 
        • Chipotle Mexican Grill, Inc plunged 9.0% to $1,900 after the fast-casual food chain operator reported mixed quarterly results. 

          total revenue increased 13.6% to $2.5 billion and comparable store sales rose 7.4%. 

          Net income in the quarter jumped to $341.8 million from $259.9 million and diluted earnings per share jumped to $12.32 from $9.25 a year ago. 

          Chipotle guided third quarter comparable restaurant sales to increase in the low to mid-single digit and full-year sales are expected to increase in mid to high-single digit. 

          The company plans to open between 255 and 285 stores, including between 10 to 15 relocations to add drive throughs, depending on construction, utility and permit delays.   
          • McDonald's Corp increased 1.8% to $296.94 after the burger chain reported better-than-expected revenue and adjusted earnings. 

            Global same store sales increased 11.7% and the U.S. comparable store sales rose 10.3% compared to 3.7% a year ago because of promotional meals celebrating the 52nd birthday of McDonald's character Grimace. 
            • Royal Caribbean Cruises Ltd surged 8.7% to $109.70 after the cruise company reported better-than-expected quarterly results and lifted its annual estimate on the back of revenue acceleration. 

              Revenue in the second quarter soared to $3.5 billion from $2.2 billion and the company swung to a net income of $462.2 million from a loss of $520 million and diluted earnings per share was $1.70 from a loss of $2.05 a year ago. 

              Cruise company said bookings in the quarter were significantly ahead of pre-Covid 2019 levels and customer deposits were at a record high $5.7 billion. 

              "Demand for 2023 sailings has significantly exceeded expectations and bookings for 2024 sailings are up significantly versus all prior years at record prices. 

              Demand from the North American consumer has remained incredibly strong throughout the year, and booking volumes from European consumers who are booking European cruises this summer have accelerated," the company noted in the earning release. 
              • Morningstar Inc soared 7.2% to $230.80 after the company reported quarterly results ahead of market expectations. 

                Revenue in the second quarter increased 7.3% to $504.7 million and consolidated net income increased 19.9% to $36.1 million from $30.1 million and diluted earnings per share increased to 84 cents from 70 cents a year ago. 

                Revenue for Pitchbook, M&A database, subscription increased 21% to $121 million, Morningstar Data gained 79% to $69.4 million and Morningstar Direct rose 9% to $49.9 million. 
                • eBay Inc declined 9.3% to $44.25 after gross merchandise volume declined 2% to $18.2 billion in the second quarter. 

                  Revenue in the second quarter increased 5% to $2.5 billion from $2.4 billion and the online commerce platform swung to a profit of $172 million from a loss of $536 million and diluted earnings per share from continuing operations was 32 cents from a loss of 96 cents a year ago. 

                  The company returned $383 million to shareholders, including $250 million of share repurchases and $133 million paid in cash dividends. 

                  The company forecasted third quarter organic revenue on a currency neutral basis between $2.46 billion and $2.52 billion, an increase between 2% and 4% from a year ago and diluted earnings per share between 67 cents and 72 cents. 
                  • BJ's Restaurants Inc jumped nearly 10% to $36.39 from $33.34 after the company reported better-than-expected quarterly results. 

                    Revenue in the second quarter increased 6.1% to $349.7 million from $329.7 million and comparable restaurant sales increased 4.7% from a year ago. 

                    Net income increased to $11.9 million from $3.0 million and diluted earnings per share rose to 50 cents from 1 cent a year ago. 

                    The company opened its second new restaurant this quarter in San Antonio, Texas and plans to open five in the year and remodel between 35 and 40 restaurants of which 20 remodels have been completed. 

                    Restaurant level operating margin increased to 14.5% from 11.9% a year ago. 
                    • CBRE Group Inc declined about 8% to $82. 88 after the real estate leasing and advisory services provider reported on the worries of looming slowdown in commercial real estate market. 

                      Revenue in the second quarter revenue declined 0.7% to $7.7 billion and net income plunged 58.7% to $201 million from $487 million and diluted earnings per share fell to 64 cents from $1.48 a year ago. 

                      The company said comparison with the quarter last year was difficult because of "exceptional development earnings" in the quarter exceeded development operating profit in any year except 2021. 

                      The company said because of delayed recovery in capital markets core earnings per share in 2023 is expected to decline between 20% and 25% from the previous year. 

                      Advisory services revenue fell 21% to $2.04 billion, workspace solution, which includes office leases, rose 10.6% to $5.4 billion and real estate investment segment revenue fell 7.8% to $256 million. 

                        
                      • Jul 26, 2023
                      • Microsoft Corp declined 3.3% to $339.58 after the company said revenue in the fiscal fourth quarter ending in June increased 8% to $56 b.2illion and net income soared to $20.08 billion from $16.74 billion a year ago. 

                        Microsoft stock declined after Azure revenue growth slowed to 26% from 27% in the previous quarter and 40% from a year ago. 

                        Cloud segment revenue increased 15% to $23.99 billion.