Fun Fact of The Day 🌞
Amazon sells more e-books than printed books
Here's what you need to know as the US markets open.
🍔 Wendy's: Burgers Galore?
Fast food major Wendy's (WEN) beat consensus expectations in Q2. The company is also planning a UK market re-entry after a two-decade hiatus. Will Wendy’s remain confined to being just another “meme” stock? Or will its business fundamentals coerce investors to take it more seriously?
More recently, Wendy’s has become part of the so-called “meme” stock bandwagon. In June, its shares had jumped over 25% after Reddit communities began circulating bullish commentary surrounding Wendy’s.
And yet, there wasn’t a hedge fund that was desperately shorting Wendy’s. If anything, Wendy's top shareholder is the activist hedge fund Trian, run by Nelson Peltz. Fund managers such as Vanguard and BlackRock hold ~7% stake each in the company.
Key Stats from Q2:
Revenue: $493.3M Vs $460.3M expected
Earnings Per Share: $0.27 Vs. $0.18 expected
Announced 20% increase in quarterly cash dividend to $0.12
2025 Global Target: 8.5K-9K restaurants
Market Reaction
WEN ended at $22.85, up 3.72%.
Newsworthy 📰
Warning:
eBay forecasts revenue below estimates as shoppers venture out (EBAY -0.87%)
Bumble going strong as pandemic love endures Delta concerns (BMBL +2.23%)
Later:
McDonald's delays return to work for office workers, will require vaccinations (MCD +0.91%)
What to expect today 🕒
Walt Disney Earnings (DIS)
Brookfield Asset Management Earnings (BAM)
Airbnb Inc. Earnings (ABNB)
DoorDash Inc. Earnings (DASH)
Palantir Technologies Inc. Earnings (PLTR)
Biolife Solutions Inc. Earnings (BLFS)
12:30 PM GMT: Initial Jobless Claims
What Next?
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