Delta Air Lines has partnered with Shake Shack to offer cheeseburgers as an entree option for first-class passengers on domestic flights over 900 miles, starting December 1 from Boston Logan International Airport. This collaboration marks a unique move to incorporate a popular dining brand into Delta's in-flight service, with plans to expand the offering to other U.S. cities in 2025. Passengers can preselect their meal via Delta's app or online up to 24 hours before departure.
Shake Shack is offering free chicken sandwiches on Sundays in April, seemingly taking a dig at Chick-fil-A's closed-on-Sunday policy and recent decision to shift away from antibiotic-free chicken. The promotion highlights Shake Shack's antibiotic-free chicken and requires a $10 minimum order using the code CHICKENSUNDAY. Chick-fil-A cited supply concerns for their switch from antibiotic-free chicken, while Shake Shack is emphasizing their commitment to antibiotic-free chicken with this promotion.
Shake Shack is offering free Chicken Shack sandwiches every Sunday in April with a minimum purchase of $10, seemingly taking a dig at Chick-fil-A, which is famously closed on Sundays. This move comes as Chick-fil-A recently announced a change in its antibiotic-free chicken policy due to supply chain concerns. The promotion has sparked a debate among foodies, with Shake Shack customers able to claim their free sandwich by visiting a local storefront or using the code "CHICKENSUNDAY" on the app.
Wall Street's top analyst calls include Stifel upgrading Micron Technology due to tightening DRAM supply, while Telsey Advisory downgrades Foot Locker citing higher spending. Other upgrades include Edwards Lifesciences, Shake Shack, and Akamai Technologies, while downgrades include Nordstrom, Victoria's Secret, Cogent, and Allient. Initiations feature Rivian Automotive, Jack Henry, Edgewise Therapeutics, MiMedx, and Despegar.com.
Shake Shack is offering customers nationwide a free Chicken Shack if the Oscars runtime exceeds 3 hours and 31 minutes, and a free SmokeShack if it's shorter. To claim the offer, customers need to make a $10 minimum purchase and use the code BIGWINS on Monday, March 11, or until Monday, March 18, in-store, online, or via the Shake Shack app.
The stock market closed with all three major indexes in positive territory, with Wells Fargo stock rising 7% after a regulatory penalty was lifted. Shake Shack's shares surged 26% following strong fourth-quarter earnings, while Ford Motor's CEO emphasized the potential of its "Pro" business. Toast, a restaurant management software company, announced layoffs and reported fourth-quarter earnings that beat expectations. Intuitive Machines saw its stock soar 34.5% after a successful launch for its mission to the moon.
Shake Shack's stock soared 23% after reporting strong Q4 2023 financial results, with a 1.4% increase in year-over-year restaurant traffic and a 20% restaurant-level operating margin. Despite positive results, an increasing share count dilutes shareholder profits, leading to concerns about the stock's valuation. The company expects 11-15% top-line growth in fiscal 2024, driven by new restaurant openings. However, some analysts caution that the stock may be overvalued, suggesting investors consider taking profits as shares hit 52-week highs.
Shake Shack's stock surged 20% after the burger chain reported strong fourth-quarter earnings, with a net income of $6.8 million and earnings per share of 2 cents, beating expectations. The company also saw a 20% increase in revenue year-over-year and plans to grow total revenue by 11% to 15% in 2024, with the opening of 80 new restaurants. CEO Randy Garutti expressed optimism for the year ahead, citing positive traffic and continued margin expansion.
Shake Shack is launching a new "Hot Menu" featuring a Hot Chicken sandwich, Spicy Shackmeister Burger, spicy fries, and spicy cheese fries. The items are dusted with Shake Shack's signature spice blend and will be available nationwide starting September 8th, with early access via the Shake Shack app on September 5th. The Hot Chicken sandwich starts at $8.39 and the Spicy Shackmeister Burger is made with 100% Angus beef.
Shake Shack founder Danny Meyer stated that there is no obligation to tip for drive-thru orders, emphasizing that it is a simple transaction. This comes as many Americans express discomfort and uncertainty about tipping for takeout. While some consumers may feel justified in not tipping, the question of how much to tip still remains. Companies like Starbucks have implemented tipping systems for drive-thru orders, while others, like South Park creators Matt Stone and Trey Parker, have eliminated tipping altogether and opted for higher hourly wages. Meyer, who has a history with tipping, eliminated it at his restaurants in 2015 but reintroduced it during the pandemic, with the goal of sharing tips among the entire team.
The Dow Jones Industrial Average rose as House Speaker Kevin McCarthy issued a debt ceiling warning to President Joe Biden. Shake Shack soared on an activist investor move while Meta Platforms popped on an analyst upgrade. Microsoft inched up after a regulator boosted its takeover bid for Activision Blizzard. Meanwhile, a trio of stocks managed to pass buy points despite the mixed action. Treasury yields were mixed. The 10-year yield rose four basis point to 3.50% while the two-year yield dipped slightly to 4%. The yield curve remains inverted.
Shake Shack's stock rose over 6% after activist investor Engaged Capital bought a 6.6% stake in the company and planned a proxy fight for three board seats. Oneok agreed to acquire Magellan Midstream Partners for about $18.8 billion, causing Magellan's stock to jump 14.7%. Charles Schwab's shares climbed over 3% after Raymond James upgraded the stock. The European Union approved Microsoft's proposed plan to buy Activision Blizzard for $69 billion. SoFi Technologies lost nearly 9% after Wedbush downgraded the stock over concerns about fee growth.
Activist investor Engaged Capital is seeking to acquire three board seats at Shake Shack to implement changes that it says will double profits in two years. Shake Shack's share price has taken a hit as customers pull back on spending, and Engaged Capital wants to change the company's real estate strategy, store design, labor planning, and supply chain. Shake Shack has struggled to bring back lunchtime diners in bigger cities as fewer people commute to offices daily. The company's annual shareholder meeting is expected to be held in June.
Google is adding new features to its Image Search tool to help users find the authentic source of an image and identify misleading AI pictures. Apple may encounter delays in producing the iPhone 15 and iPhone 15 Plus due to a stacked 48MP camera sensor. Activist investor Engaged Capital plans to launch a proxy fight for three board seats at Shake Shack. HSBC has agreed to pay $75 million in penalty charges as ordered by the U.S. Commodity Futures Trading Commission. General Motors recalled about 1 million sport utility vehicles in the U.S. due to unsafe airbag inflators.
Shake Shack's stock rose by almost 4% after activist investor Engaged Capital acquired a 6.6% stake and planned a proxy fight for three board seats. Charles Schwab's stock increased by 2.4% due to its strong core banking business. Oneok is acquiring Magellan Midstream Partners for $18.8 billion, causing Magellan's shares to soar by 15.5%. H&R Block and Intuit's shares fell by 9.3% and 4.3%, respectively, following a report on the Biden Administration's potential creation of a government-run online tax filing program. Albemarle's shares rose by 2.7% after an upgrade to outperform by Baird.
