Chipotle Bucks Restaurant Trends

Plus, Ford’s higher warranty costs.

July 25, 2024

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Today is Thursday, July 25, 2024.

The Early Bird Index today is 72.26.

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Chipotle Mexican Grill (NYSE: CMG) jumped 4.36% in after-hours trading on Wednesday after the fast-casual chain posted good financial earnings.

Financials: Chipotle reported earnings of 34 cents per share in the past quarter and revenue of $2.97 billion; both were better than expected.

Details: Same-restaurant sales grew 11.1% as customers kept going to Chipotle.

Early Bird’s Nest Egg Gains: Across the rest of the U.S. restaurant industry, traffic for limited-service chains fell 3.5% this year. Restaurants are raising prices. As a result, some consumers eat out less often.

Final Thoughts: Chipotle is up 15% this year as other restaurants are struggling.

Startup PromoTix ($48M in traction) is saving the events industry

PromoTix is solving the event industry’s challenges around high ticket fees and low attendance. Ticketmaster and competitors charge up to 40% of the ticket price to book, deterring guests who can’t afford the added cost. Combined with a crowded marketing space, events struggle.

PromoTix is raising funds to expand. Already profitable, with 656k users and $48M in sales in its first 30 months, PromoTix has low-fee and no-fee SaaS pricing, as well as patented marketing tools that drive attendance.

Notables

Notable Earnings Today: Dexcom (Nasdaq: DXCM), AbbVie (NYSE: ABBV), Skechers USA (NYSE: SKX), Hasbro (Nasdaq: HAS), American Airlines Group (Nasdaq: AAL), Texas Roadhouse (Nasdaq: TXRH), Honeywell (Nasdaq: HON), Southwest Air (NYSE: LUV), AstraZeneca (Nasdaq: AZN), Harley-Davidson (NYSE: HOG), Boston Beer (NYSE: SAM), Northrop Grumman (NYSE: NOC), Union Pacific (NYSE: UNP), Dow (NYSE: DOW), Deckers Outdoor (NYSE: DECK), RTX (NYSE: RTX), Boyd Gaming (NYSE: BYD), Juniper Networks (NYSE: JNPR), LendingTree (Nasdaq: TREE), Keurig Dr Pepper (Nasdaq: KDP), Sanofi (Nasdaq: SNY), AppFolio (Nasdaq: APPF), Valero Energy (NYSE: VLO), IMAX (NYSE: IMAX), NOV (NYSE: NOV), Allison Transmission (NYSE: ALSN), Arch Resources (NYSE: ARCH), Arthur J. Gallagher (NYSE: AJG), BJ Restaurants (Nasdaq: BJRI), Bread Financial (NYSE: BFH), CBRE Group (NYSE: CBRE), Columbia Banking (Nasdaq: COLB), Columbia Sportswear (Nasdaq: COLM), Coursera (NYSE: COUR), Cullen/Frost (NYSE: CFR), Digital Realty Trust (NYSE: DLR), DTE Energy (NYSE: DTE), Eastman Chemical (NYSE: EMN), EMCOR Group (NYSE: EME), Edison (NYSE: EIX), Exponent (Nasdaq: EXPO), Expro Group (NYSE: XPRO), First Interstate Bancsystem (NYSE: FBIN), Gaming and Leisure Properties (Nasdaq: GLPI), HNI (NYSE: HNI),Integer Holdings (NYSE: ITGR), Lazard (NYSE: LAZ), Lear (NYSE: LEA), LKQ (Nasdaq: LKQ), LPL Financial (Nasdaq: LPLA), Masco (NYSE: MAS), McGrath RentCorp (Nasdaq: MGRC), NASDAQ (Nasdaq: NDAQ), New York Community Bancorp (NYSE: NYCB), NovoCure (Nasdaq: NVCR), Pool (Nasdaq: POOL), Reliance (NYSE: RS), Ryder System (NYSE: R), SPS Commerce (Nasdaq: SPSC), SS&C Technologies (Nasdaq: SSNC), Southside Banc (Nasdaq: SBSI), TechnipFMC (NYSE: FTI), Teck Resources (NYSE: TECK), Tractor Supply (Nasdaq: TSCO), Tradeweb Markets (Nasdaq: TW), TransUnion (NYSE: TRU), TRI Pointe Homes (NYSE: TPH), Ultra Clean Holdings (Nasdaq: UCTT), Valley National (Nasdaq: VLY), VeriSign (Nasdaq: VRSN), Visteon (Nasdaq: VC) West Pharmaceutical Services (NYSE: WST) WEX (NYSE: WEX), Willis Towers Watson (Nasdaq: WTW).

Notable IPOs Today: Lineage, Inc. (Nasdaq: LINE), Concentra Group Holdings Parent, Inc. (NYSE: CON), LATAM Airlines Group S.A. (NYSE: LTM), Orangekloud Technology Inc. Class A Ordinary Shares (Nasdaq: ORKT).

Notable Equity Crowdfunding Campaigns Ending Today: Remark Glass (Honeycomb), Midwest Sad (Honeycomb), 1984 Farms (Honeycomb), Posh Pop Gourmet Popcorn (Honeycomb), BeeFavored (Honeycomb), Wanderlust Wine Co. (Honeycomb), PreSend (Akemona).

Notable Economic Events Today: Jobless Claims (8:30 a.m. ET), GDP (8:30 a.m. ET), Durable Goods Orders (8:30 a.m. ET), Goods Trade Balance (8:30 a.m. ET), Retail Inventories Excluding Auto (8:30 a.m. ET).

Ford’s Higher Warranty Costs

Ford Motor (NYSE: F) plunged 11.56% in after-hours trading on Wednesday after reporting earnings of 47 cents per share in the past quarter and automotive revenue of $44.81 billion, which were both lower than expected.

Details: Profitability fell because of higher warranty costs.

Final Thoughts: Ford is struggling amid a tough year for auto sales.

NBA Rejects Warner Bros Discovery 

Warner Bros Discovery (Nasdaq: WBD) fell 2.13% in after-hours trading on Wednesday after the NBA rejected its TV deal.

Final Thoughts: Warner Bros Discovery is down 27% this year.

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.