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J. Edward Moreno

Shake Shack expects competitors to ditch eggs for chicken and beef

High egg prices may lead to breakfast menus with less egg and more beef or chicken, Shake Shack’s CEO told analysts on Thursday.

The executive, Rob Lynch, made the comment in response to a question about the impacts of tariffs and inflation. He noted that Shake Shack sources most of its ingredients domestically and doesn’t use very many eggs, but if other restaurants start consuming more chicken and beef, that might have a ripple effect on Shake Shack:

“We don’t have a breakfast business, a big breakfast business. So we don’t have the exposure to eggs. But other restaurant companies that have exposure to eggs may be moving away from eggs in the time being, which means they’re going to offer more beef products or chicken products to complement or to substitute for that high-cost item. And when that consumption demand changes, it has the potential to change even some domestic pricing.”

It wouldn’t be the first time companies have made such adjustments. As prices for beef surpassed chicken, food companies started offering more chicken products. McDonald’s, for one, now sells more chicken than beef.

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J. Edward Moreno

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.

Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

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Paige Oamek

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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