markets

Jack Raines11/12/24

Investors can’t get enough Cava after its earnings report

Fast-casual Mediterranean chain Cava reported earnings after the market close on Tuesday, and investors loved the stock almost as much as customers love their braised lamb bowls.

Cava’s Q3 revenue grew 39% year over year, to $241.5 million from $173.8 million in 2023, and same-restaurant sales growth jumped 18.1%. Net income also jumped by 165%, to $18 million from $6.8 million.

Forward guidance also jumped from August’s numbers: the company is now projecting to open 56 to 58 new stores in FY 2024, up from 54 to 57 stores, and same-restaurant sales growth is expected to jump 12% to 13%, compared to a prior forecast of 8.5% to 9.5%.

CAVA Group Reports Third-Quarter 2024 Results

CAVA Group Reports Third Quarter 2024 Results

Forward guidance also jumped from August’s numbers: the company is now projecting to open 56 to 58 new stores in FY 2024, up from 54 to 57 stores, and same-restaurant sales growth is expected to jump 12% to 13%, compared to a prior forecast of 8.5% to 9.5%.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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