8 stories mentioning ASX:GYG
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Guzman y Gomez (ASX:GYG) is now integrated with Apple CarPlay and Apple Wallet, the fast food restaurant chain said in a statement on Monday.The company's GOMEX loyalty program is also supported on the Apple Wallet, the statement said.Shares rose 2% in midday trade on Monday.
Guzman y Gomez (ASX:GYG) said JPMorgan Chase & Co. and its affiliates increased their stake in the company on June 5 to 7.09%, or 7.1 million shares, from 6.06%, or 6.1 million shares, according to a Wednesday Australian bourse filing.The company's shares were up 2% in recent Wednesday trade.
Elevra Lithium (ASX:ELV), Electro Optic Systems (ASX:EOS), FireFly Metals (ASX:FFM), Kingsgate Consolidated (ASX:KCN), and Minerals 260 (ASX:MI6) joined the S&P/ASX 200 Index before trading began on Monday, S&P Dow Jones Indices reported Friday.Meanwhile, Guzman Y Gomez (ASX:GYG), IDP Education (ASX:IEL), SiteMinder (ASX:SDR), Temple & Webster (ASX:TPW) and WEB Travel (ASX:WEB) were removed from the index as part of the rebalancing.
UBS raised its price target for Guzman y Gomez (ASX:GYG) to AU$24 per share from AU$22 per share and retained its buy rating as of Friday, according to a Monday statement.
Guzman y Gomez (ASX:GYG) faced a class action lawsuit in the US over allegations that it did not provide local staff adequate notice before shuttering its operations, according to multiple media reports on Monday.The Mexican-themed restaurant operator last week said it is exiting the US market with immediate effect, as the business has not delivered sales momentum and is not meeting financial targets.The federal lawsuit filed in the US over the weekend claims the company "abruptly closed" its Chicago restaurants at the end of business on May 21 without providing workers with a legally required written notice 60 days in advance, the Australian Financial Review reported.The lawsuit seeks up to 60 days' worth of pay and benefits for an estimated more than 500 employees impacted by the exit, the Guardian reported.In a statement to, Guzman y Gomez said it is aware of the lawsuit and is "confident we have met all of our legal obligations to our US employees."
Australian shares climbed up on Friday as optimism prevailed over a potential peace agreement between the US and Iran to end the conflict in the Middle East.The S&P/ASX 200 Index rose 0.41%, or 35.30 points, to close at 8,657.Brent crude oil futures rose by around 2% to trade at nearly $105 per barrel. US Secretary of State Marco Rubio said there were "some good signs" in talks with Iran. However, differences remain over the control of the Strait of Hormuz and the nuclear issue.On the domestic front, Australia's housing demand took a measurable hit in the March quarter, and total loan commitments fell 6.2% in the quarter due to central bank rate hikes and low confidence, Cotality said in a report. The overall value of lending dropped by 3.8%. However, both measures remained higher than in March 2025.Westpac points to quarter-over-quarter gross domestic product growth of around 0.4% in the March quarter, with a range of 0.3% to 0.55%. The bank's framework points to growth stalling at just 0.1% quarter-over-quarter in the June quarter. The longer the Middle East conflict persists, alongside other sources of uncertainty, the greater the risk of a contraction in the June quarter.In company news, Guzman y Gomez (ASX:GYG) is exiting the US market with immediate effect as the business has not delivered sales momentum and is not meeting financial targets. As a result of the exit, the company expects to recognize a one-off profit and loss impact of between $30 million and $40 million in its 2026 results. Its shares were up 10% on market close.Tuas (ASX:TUA) said the sale and purchase agreement between it and its unit, Simba Telecom, and Keppel Konnect and Konnectivity regarding Simba's purchase of the shares in M1 was terminated.Lastly, Mayne Pharma Group (ASX:MYX) is entitled to nearly AU$13.3 million in legal costs following court proceedings against Cosette Pharmaceuticals in the New South Wales Supreme Court last year. Its shares closed up 3%.
Guzman y Gomez (ASX:GYG) is exiting the US market with immediate effect as the business has not delivered sales momentum and is not meeting financial targets, according to a Friday filing with the Australian bourse.As a result of the exit, the company expects to recognize a one-off profit and loss impact of between $30 million and $40 million in its 2026 results. The cash component of the exit costs, relating to lease liabilities, employee costs and other contractual commitments, is not expected to be higher than $15 million.The one-off items are not expected to impact the company's final dividend for fiscal 2026."In assessing the trajectory of the current network, the board and I have concluded that the business is unlikely to deliver the performance that would justify continued investment of shareholder capital," Guzman y Gomez Co-CEO Steven Marks said.The company remains focused on its operations in Australia, where it plans to open 32 restaurants in the current financial year. It also expects to deliver fiscal 2026 underlying earnings before interest, taxes, depreciation, and amortization of about AU$85 million in the Australia segment.Elsewhere, Guzman y Gomez plans new restaurant openings in Singapore and Japan over the next 12 months.
Guzman y Gomez (ASX:GYG) has received an upgrade to an outperform rating by RBC Capital Markets, according to a Thursday report by the Australian Financial Review, citing RBC Analyst Michael Toner.Toner said that the company's shares have shown recent weakness, which creates an "attractive" entry point despite the company's "volatile" quarterly reports.RBC believes that the market has over-focused on recent same-store sales numbers while underestimating the company's store expansion pipeline, the report added.The company's shares rose 12% in recent Thursday trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)