$WEN

Sector Update: Consumer Stocks Rise Late Afternoon

Consumer stocks were higher late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 1.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 1.5%.In corporate news, Honda (HMC), Nissan, and Mitsubishi Motors are in final talks to standardize electronic control units, or ECUs, for next-generation vehicles, Nikkei Asia reported. Honda shares added 0.8%.Total online spending for all US retailers hit $8.3 billion on the first day of Amazon's (AMZN) four-day Prime Day event, Bloomberg reported, citing data from Adobe (ADBE), which previously estimated $7.9 billion. Amazon shares gained 0.8%.Wendy's (WEN) shares jumped 24% after meme-stock traders rushed to buy the heavily shorted stock, multiple media outlets reported.Hertz Global (HTZ) said Wednesday in a regulatory filing that "current unexpected softness" in the market for used cars has caused it to realize losses on the sale of vehicles in May, which will adversely impact net depreciation per unit per month in Q2. Hertz shares tumbled 38%.

$AMZN$HMC$HTZ$WEN

Sector Update: Consumer Stocks Rise Wednesday Afternoon

Consumer stocks were higher Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 1.5%.In corporate news, total online spending for all US retailers hit $8.3 billion on the first day of Amazon's (AMZN) four-day Prime Day event, Bloomberg reported, citing data from Adobe (ADBE), which previously estimated $7.9 billion. Amazon shares gained 2.1%.Wendy's (WEN) shares jumped 29% after meme-stock traders rushed to buy the heavily shorted stock, multiple media outlets reported.FedEx (FDX) shares fell 1.7% after the company provided a calendar-year earnings outlook for 2026, even though the parcel delivery giant recorded an unexpected increase in its fiscal Q4 bottom line.

$AMZN$FDX$WEN

Sector Update: Consumer

Consumer stocks were higher Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 2%.In corporate news, Wendy's (WEN) shares jumped 28% after meme-stock traders rushed to buy the heavily shorted stock, multiple media outlets reported.

Wire36d ago

Wendy's Shares Soar Reportedly on Support of Meme Traders

Wendy's (WEN) shares were up as much as 42% Wednesday and sitting above 25% at 11:30 a.m. ET, as the meme-stock crowd rushed to buy the heavily shorted stock, according to media reports.Price: $7.88, Change: $+1.63, Percent Change: +25.98%

Sector Update: Consumer Stocks Advance Pre-Bell Wednesday

Consumer stocks were edging higher pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) marginally advancing and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.2%.Wendy's (WEN) named Steve Cirulis as chief financial officer, effective Tuesday, succeeding Ken Cook. Shares of Wendy's were up more than 30% premarket.Take-Two Interactive Software's (TTWO) Rockstar Games will open pre-orders for "Grand Theft Auto VI" on Thursday at midnight local time, the video game publisher said. Take-Two Interactive Software stock was up nearly 3% pre-bell.Nike (NKE) said David Denton will join as its chief financial officer and executive vice president on Aug. 17, replacing Matthew Friend, who will step down at that time and remain through Sept. 4 to support the transition. Nike shares were 0.8% lower premarket.

$NKE$TTWO$WEN$XLP$XLY

Sector Update: Consumer

Consumer stocks were flat to higher pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) inactive and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.3%.Wendy's (WEN) named Steve Cirulis as chief financial officer, effective Tuesday, succeeding Ken Cook. Shares of Wendy's were up more than 25% premarket.

Dow JonesNasdaq CompositeS&P 500$FDX$FUL$INTC$JEF$MU$NVDA$PAYX$QCOM$TCOM$WEN

US Markets36d ago

Stocks Mostly Up Pre-Bell Ahead of Micron's Latest Financial Results

US stock futures were mostly trending higher on Wednesday as markets looked to recover from the previous session's tech-driven selloff, while investors await Micron Technology's (MU) latest quarterly results.The S&P 500 rose 0.2% and the Nasdaq increased 0.5% before the opening bell, while the Dow Jones Industrial Average slipped 0.1%. The indexes closed Tuesday trading lower, with the Nasdaq logging its sharpest decline since June 5.Shares of Micron rose 3.9% pre-bell after closing the previous trading session down 13%. The semiconductor company is scheduled to post its fiscal third-quarter results after the markets close, with analysts on FactSet currently estimating non-GAAP earnings of $20.83 per share and sales of $35.85 billion.Tech bellwether Nvidia (NVDA) was up 0.7% after a 4.1% decline in the prior session. Intel (INTC) increased 1.9%, while Qualcomm (QCOM) advanced 2.1%.Tech stocks may face spillover impact from the recent sharp sell-off in South Korea, though the decline appears to be a "pullback/breather" in a market that almost doubled this year, Wedbush Securities said in a note on Tuesday.FedEx's (FDX) stock fell 7.2% as the parcel delivery giant issued a downbeat earnings outlook for the full 2026 calendar year. Wendy's (WEN) jumped 15% as the fast-food chain hired Potbelly Sandwich Works finance chief Steve Cirulis for the same role, effective Tuesday.West Texas Intermediate crude oil decreased 1.5% to $72.09 a barrel in premarket action, while Brent slipped 1.6% to $75.86.In a social media post early Wednesday, President Donald Trump said he has instructed the Department of Justice to "immediately start looking" into oil companies not lowering their prices."The big oil companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for oil," according to Trump. "Those prices are dropping like a rock! In other words, customers are being 'gouged.'"US Secretary of State Marco Rubio arrived in the Gulf region, aiming to sell the Iran deal to three countries -- the United Arab Emirates, Bahrain and Kuwait -- that are likely to be among the biggest skeptics, CNN reported Tuesday.Treasury yields were mixed before the open, with the two-year rate nudging higher by 0.1 basis point to 4.2% while the 10-year rate retreated 0.8 basis points to 4.49%.On Wednesday's economic calendar, the weekly mortgage applications bulletin posts at 7 am ET, followed by the new home sales report for May at 10 am. The weekly EIA domestic petroleum inventories report is due at 10:30 am.Paychex (PAYX) is expected to post its financial results before the bell, while Trip.com (TCOM), Jefferies Financial (JEF) and H. B. Fuller (FUL) report after the markets close.Gold declined 1.8% to $4,076 per troy ounce, while bitcoin traded up 0.3% at $62,455.

Wire71d ago

Wendy's Names Industry Veteran Robert Wright as Chief Executive

Wendy's (WEN) said Wednesday it appointed quick-service restaurant industry veteran Robert Wright as chief executive, marking his return to the fast food chain.Wright, who will assume the CEO and president roles effective Thursday, will also join the company's board.Wright most recently served as CEO and president of Potbelly. Previously, he served as chief operations officer at Wendy's and held leadership positions at Domino's Pizza (DPZ), Charleys Philly Steaks, and Checkers Drive-In Restaurants.Wendy's interim CEO Ken Cook will continue as chief financial officer as part of the transition, the company said.Cook took on the interim CEO role after former CEO Kirk Tanner left the company in July to assume the CEO and president positions at chocolate maker Hershey (HSY).Wendy's shares were down 3.3% in Wednesday late-afternoon trade. So far this year, the stock has lost 5.8% in value.Last week, London's Financial Times reported that activist investor Nelson Peltz's Trian Fund Management was looking to take Wendy's private. Trian is already the fast food chain's largest shareholder, according to that report.Earlier this month, Wendy's reiterated its full-year outlook after its fiscal first-quarter revenue unexpectedly increased year over year.Price: $7.87, Change: $-0.25, Percent Change: -3.14%

Sectors79d ago

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Tuesday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.2%.In sector news, Redbook US same-store sales last week rose 9.6% from a year earlier after a 7.8% increase in the previous week. Redbook cited higher sales of seasonal products including clothing, footwear and outdoor goods due to warmer temperatures and graduation sales.In corporate news, Under Armour (UAA) issued weaker-than-expected full-year guidance after the sportswear maker's fiscal Q4 adjusted loss narrowed less than analysts anticipated. The shares fell 18%.EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company in what would have been a $55.5 billion deal. GameStop shares fell 3.2%, and eBay rose 2.3%.Wendy's (WEN) shares surged 17% after the Financial Times reported the company faces a potential take-private bid from Trian Fund Management.Sea (SE) reported Q1 revenue above market estimates as the Shopee parent saw growth across all core business segments. The shares climbed 13%.

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Sectors79d ago

Sector Update: Consumer Stocks Mixed Tuesday Afternoon

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 1.4%.In sector news, Redbook US same-store sales rose by 9.6% from a year earlier in the week ended May 9 after a 7.8% year-over-year increase in the previous week. Redbook noted higher sales of seasonal products including clothing, footwear and outdoor goods due to rising temperature and graduation sales.In corporate news, EBay (EBAY) rejected video game retailer GameStop's (GME) proposal to acquire the e-commerce company in what would have been a $55.5 billion deal. GameStop shares were down 0.7%, and EBay rose 1.1%.Wendy's (WEN) shares jumped 17% after the Financial Times reported the company faces a potential take-private bid from Trian Fund Management.Sea (SE) on Tuesday reported Q1 revenue above market estimates as the Shopee parent saw growth across all core business segments. Its shares climbed 13%.

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Wire79d ago

JPMorgan Downgrades Wendy's to Underweight From Neutral, Adjusts Price Target to $6 From $7

Wendy's (WEN) has an average rating of hold and mean price target of $7.67, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Sector Update: Consumer Stocks Rise Late Afternoon

Consumer stocks were higher late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.2%.In corporate news, Brown-Forman (BF.A, BF.B) and Pernod Ricard's $15 billion deal talks fell apart over control of the combined company, Semafor reported Friday. While Brown-Forman is the slightly smaller of the two companies, the Brown family wanted to take a stake in the combined company that would have been larger than the Ricard family's, the report said. Brown-Forman Class A shares were up 0.7%, and its Class B shares rose 1.4%.Monster Beverage (MNST) shares jumped past 13% after the company reported Q1 results above market estimates amid strong growth in the energy drinks category.Airbnb's (ABNB) Q1 earnings lagged Wall Street's estimates, while the vacation rental firm reported higher-than-expected revenue amid demand momentum. Its shares were up 1.1%.Wendy's (WEN) reiterated its full-year outlook on Friday as the fast food chain's fiscal Q1 revenue unexpectedly increased year over year. Its shares climbed 5.3%.

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Sector Update: Consumer Stocks Rise Friday Afternoon

Consumer stocks were higher Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.8% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gaining 0.6%.In corporate news, Monster Beverage (MNST) shares jumped past 15% after the company reported Q1 results above market estimates amid strong growth in the energy drinks category.Airbnb's (ABNB) Q1 earnings lagged Wall Street's estimates, while the vacation rental firm reported higher-than-expected revenue amid demand momentum. Its shares were up 3.1%.Wendy's (WEN) reiterated its full-year outlook on Friday as the fast food chain's fiscal Q1 revenue unexpectedly increased year over year. Its shares climbed 3%.

$ABNB$MNST$WEN

Sector Update: Consumer

Consumer stocks were higher Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.8% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.6%.In corporate news, Wendy's (WEN) reiterated its full-year outlook on Friday as the fast food chain's fiscal Q1 revenue unexpectedly increased year over year. Its shares climbed 2.1%.

Sector Update: Consumer Stocks Advance Premarket Friday

Consumer stocks were advancing premarket Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) and State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.4% higher.Interface (TILE) shares were up nearly 11% after the company posted higher fiscal Q1 adjusted earnings and net sales, and raised its fiscal 2026 outlook.Wendy's (WEN) stock was up more than 4% after the company reported Q1 adjusted earnings and revenue that topped analysts' expectations, with revenue increasing year over year.Zara has denied infringing Estee Lauder's (EL) Jo Malone trademark in an infringement case, Reuters reported, citing a court filing. Estee Lauder shares were 0.8% higher pre-bell.

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US Markets83d ago

Wendy's Maintains Full-Year Outlook Following Surprise First-Quarter Revenue Growth

Wendy's (WEN) reiterated its full-year outlook on Friday as the fast food chain's fiscal first-quarter revenue unexpectedly increased year over year.The company continues to project adjusted earnings to come in between $0.56 and $0.60 per share for fiscal 2026. The current consensus on FactSet is for non-GAAP EPS of $0.57. Global systemwide sales are still pegged to be roughly flat.For the quarter ended March 29, Wendy's adjusted EPS fell to $0.12 from $0.20, but topped the Street's view for $0.10. Revenue increased 3.3% to $540.6 million, defying the average analyst estimate on FactSet for a decline to $518 million. On an adjusted basis, revenue improved 2.2%.The stock rose 4.7% in the most recent premarket activity."We are taking decisive action to strengthen the Wendy's system and improve performance," interim Chief Executive Ken Cook said in a statement. "Our focus on operational excellence is driving improvement in order accuracy and key customer satisfaction metrics."Same-restaurant sales around the world dropped 6.8%, more than the market's forecast for a decrease of 6.4%. In the US, the metric slipped 7.8% versus a 2.8% decline in the prior-year quarter. International same-restaurant sales edged down 0.4%, compared with growth of 2.3% last year."While our first-quarter results reflect a business in the early stages of a turnaround, we are making progress to improve our US business and are confident in the direction we are heading," according to Cook.Systemwide sales declined 5.5% on an annual basis in the quarter. International growth slowed down to 6% from 8.9%, while the US recorded a 7.3% drop. The company opened 50 new restaurants during the three-month period.Wendy's said it entered into a franchise agreement with an "experienced" restaurant operator to build up to 1,000 restaurants across China over the next decade, Cook said. "These actions are strengthening our foundation and positioning Wendy's to regain momentum and deliver sustainable growth and long-term value creation," the interim CEO added.Earlier in the week, McDonald's (MCD) and Burger King parent Restaurant Brands International (QSR) reported their first-quarter results that came in above Wall Street's estimates.

Wire85d ago

Wendy's Estimates Lowered on 'Challenging' Setup, Oppenheimer Says

Wendy's (WEN) estimates are lowered ahead of its Q1 results to reflect a challenging setup, Oppenheimer analysts said in a Tuesday report. The Q1 results are due May 8.The analysts lowered their 2026 and 2027 estimates for same-store sales and EBITDA below consensus estimates."We believe our model better reflects the challenging near-term setup and ongoing underperformance vs. peers," they said.For Q1, US same-store sales are expected to drop 7.5%, against the Street's 7.2% decline, the report said. EBITDA is forecast at $101.7 million, below Street's $102.5 million estimate.Still, sales trends could improve in the second half of 2026 as Wendy's closes underperforming restaurants, rolls out marketing initiatives and benefits from easier comparisons.Oppenheimer maintained its perform rating on the stock.Price: $6.60, Change: $-0.02, Percent Change: -0.23%