Shares of Shake Shack (SHAK) are tumbling in after-hours trading after the not-fast-food fast-food joint beat earnings and sales forecasts, and raised its full-year revenue guidance but reported disappointing same-store sales.
Yusuke Nakanishi/Zuma Press
Shake Shack reported a profit of 14 cents a share, beating forecasts for 13 cents, on sales of $66.5 million, topping estimates for $63.1 million. Shake Shack also raised it sales forecast for 2016 to a range of $253 million to $256 million, above the previous range of $245 million to $249 million. Analysts had been predicting $251.9 million.
Unfortunately, Shake Shake’s same-store sales rose just 4.5%, below forecasts for 4.8%. And when you’re trading at 127 times trailing 12 month earnings, your same-store sales better not slow.
Shares of Shale Shack have dropped 7.8% to $37.70 at 4:36 p.m. in after-hours trading.
how is the stock market: Medley Capital Corporation(MCC)
- [By Lee Jackson]
Medley Capital Corp. (NYSE: MCC) is another company that had the man at the top buying shares. CEO Brook Taube added 188,336 shares of the business development company at prices that ranged from $7.13 to $7.48 per share. The total for the trade was posted at $1 million. The stock closed Friday at $7.26.
how is the stock market: Medidata Solutions, Inc.(MDSO)
- [By Lisa Levin]
On Wednesday, technology shares climbed by 0.94 percent. Top gainers in the sector included Marvell Technology Group Ltd. (NASDAQ: MRVL) and Medidata Solutions Inc (NASDAQ: MDSO).
how is the stock market: NewJersey Resources Corporation(NJR)
- [By Daniela Pylypczak]
New Jersey Resources Corp.(NJR) announced on Tuesday that it will raise its quarterly dividend rate by 5%.
The new quarterly dividend rate will be 42 cents per share, up 2 cents from the prior 40 cents per share rate. Annually, the dividend rate will now be $1.68 per share. The new rate will be effective with the dividend payable October 1, 2013 to shareholders of record on September 23, 2013.
Commenting on the increase, Chairman and CEO Laurence M. Downes noted “Our shareowners look to us year after year for consistent financial performance and a competitive return on their investment.he action taken today by our board of directors allows us to increase our dividend for the 20th time in the last 18 years. This is an acknowledgement of our team’s unwavering focus to provide exceptional value for our customers and shareowners.”
New Jersey Resources shares traded 0.06% lower during Tuesday’s session. Year-to-date, the stock is up 5.90%.
how is the stock market: Arista Networks, Inc.(ANET)
- [By Simon Erickson]
Arista Networks (NYSE:ANET) founder/Chairman Andy Bechtolsheim became a Silicon Valley legend after being one of the first investors in the company now called Alphabet (NASDAQ:GOOGL), cutting the company a $100,000 check in 1998 before it had even formally selected a name (he confirmed this investment has personally netted him more than $1 billion).
Arista’s customer count has increased sixfold during the past four years (from 570 in 2011 to more than 3,500 today) and their market share in high-speed data center switching has increased from 3% to 12% during the same time frame. Bechtolsheim owns 19% of Arista’s shares, with insiders collectively owning more than 44%. Due to massive amounts of data being transferred across the Internet (thanks to high-definition video, genomic sequencing, and a ton of other formats), investment in cloud-computing infrastructure is estimated to grow from $32.6 billion in 2015 to $53.1 billion by 2019.
- [By Lisa Levin]
Arista Networks Inc (NYSE: ANET) shares shot up 11 percent to $64.37 after the company reported upbeat results for its fourth quarter.
Shares of The Chefs Warehouse, Inc (NASDAQ: CHEF) got a boost, shooting up 18 percent to $18.36 on Q4 results. Chefs’ Warehouse reported Q4 modified pro forma earnings of $0.26 per share on revenue of $299.7 million.
- [By WWW.MONEYSHOW.COM]
My Top Pick for growth investors in 2017 is Arista Networks (ANET), which in many ways looks like the next Cisco (CSCO) — the company was built from the ground up to deal with the realities of the new networking paradigm.
- [By Monica Gerson]
Arista Networks Inc (NYSE: ANET) reported upbeat results for the first quarter and issued a strong revenue forecast for the current quarter. Arista Networks shares gained 3.84 percent to $66.02 in the after-hours trading session.
how is the stock market: CAE Inc(CAE)
- [By Paul Ausick]
Five teams are expected to compete for the contract: Boeing Co. (NYSE: BA) has joined with Saab to offer a clean-sheet design; Northrop Grumman Corp. (NYSE: NOC) has teamed up with BAE Systems and L-3 Communications Holdings Inc. (NYSE: LLL) on another clean-sheet design; Lockheed Martin Corp. (NYSE: LMT) and Korea Aerospace Industries (KAI) are going with a modified KAI T-50; Raytheon Corp. (NYSE: RTN) has joined with Italy’s Leonardo and Canada’s CAE Inc. (NYSE: CAE) on a version of Leonardo’s M-346 trainer that it calls the T-100; and privately held Sierra Nevada has partnered with Turkish Aerospace Industries (TAI) on another clean-sheet design.