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Shake Shack stock price
Shake Shack latest news:
Shake Shack shares volatile as earnings beat Street, outlook doesn't
Shake Shack Inc. shares were volatile in the extended session Thursday after the fast-food chain topped Wall Street estimates on earnings but offered a weak-than-expected outlook. Shake Shack shares, which had risen by as much as 5%, traded between gains and losses and were last up 2.4% after hours. The company reported a fourth-quarter loss of $14.4 million, or 55 cents a share, compared with net income of $3.9 million, or 15 cents a share, in the year-ago period. Adjusted earnings, excluding charges from the U.S. tax overhaul, were 10 cents a share. Revenue rose to $96.1 million from $73.3 million in the year-ago period. Analysts surveyed by FactSet had estimated 6 cents a share on revenue of $92.8 million. For the year, Shake Shack sees revenue of $444 million to $448 million. Analysts expect revenue of $459 million. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Shake Shack and the B-52s Have Joined Forces
The marketing inevitability that is the Love Shack Shake has arrived.
McDonald's price target revised down at SunTrust
SunTrust Robinson Humphrey revised McDonald's Corp.'s price target down to $187, reversing an earlier note that moved the price target to $205 from $178. "[W]e overestimated the impact of tax reform on McDonald's tax rate, by mistakenly holding the foreign tax rate steady," SunTrust analysts say in the revision. "We now estimate the foreign tax differential to be +3.3% vs. -4.5% prior, which increases our '18/'19 tax rate estimate to 26.1% vs. 18.3% prior, down from 32.6% in '17." Other price target moves in the earlier note include Wendy's Co. to $22 from $17, Shake Shack Inc. to $60 from $50, and Chipotle Mexican Grill Inc. to $363 from $355. McDonald's shares are up 44% for the last year while the Dow Jones Industrial Average is up nearly 25% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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