Cava Stock Sizzles as New Steak Offering Outperforms
43 minutes ago
Cava Group (CAVA) shares surged Friday, a day after the company raised its 2024 guidance and said its new grilled steak is “significantly outperforming” expectations.
The fast-casual Mediterranean chain boosted its 2024 same-store sales estimate to 9% from 5.5% at the midpoint and its adjusted EBITDA midpoint projection to $111.5 million from $102.5 million. In the second quarter, sale-store sales growth was 14.4% year-over-year, and Cava added 18 net new locations.
Revenue for the period grew 35% to $233.5 million but diluted earnings per share (EPS) declined by 4 cents to 17 cents. Both topped analysts’ expectations.
TradingView
Cava shares were up 17% in recent trading. The stock has gained 178% so far in 2024.
Major Indexes Looking for a Second Straight Week of Gains
2 hr 28 min ago
Heading into Friday’s session, major indexes are near flat for the week, as stocks have bounced around ahead of Fed Chair Jerome Powell’s speech on Friday.
The S&P 500, Nasdaq Composite and Dow Jones Industrial Average, which are looking to post weekly gains for the second consecutive week, are also near unchanged for the month, with the S&P 500 and Nasdaq up slightly while the Dow is slightly lower.
TradingView
Workday Shares Soar on Positive Outlook
2 hr 48 min ago
Workday (WDAY) shares were up 14% in premarket trading after the human resources and capital management software provider reported quarterly results that topped estimates and pointed to growth opportunities in international markets.
The shares have carved out a double bottom between June and August, a well-known chart pattern that indicates an upside reversal after an extended downtrend.
Investors should monitor important overhead price levels in Workday shares at $264, $279, and $306.
Read our full technical analysis piece here.
Futures Point to Higher Open for Major Indexes
3 hr 41 min ago
Futures tied for the Dow Jones Industrial Average were up 0.4%.
TradingView
S&P 500 futures were up 0.5%.
TradingView
Nasdaq 100 futures were up 0.8%.
TradingView
