markets

J. Edward Moreno

4/23/25

Chipotle falls as same-store sales decline for the first time since 2020

Chipotle shares slipped 3.6% in after-hours trading, as it reported revenue that fell short of Wall Street estimates and said its same-store sales declined for the first time since 2020.

The company reported earnings per share of $0.29, slightly higher than the $0.28 analysts polled by FactSet were expecting. But it also reported $2.8 billion in sales, falling short of the $2.9 billion the Street expected.

Perhaps most concerning to investors, Chipotle’s same-store sales fell 0.4%, compared to the 1.4% increase the Street was penciling in. That marks the first time the key metric has been in the red since the second quarter of 2020, when the COVID-19 pandemic was raging.

In the earnings release, Chipotle CEO Scott Boatwright attributed the weak quarter to “weather and a slowdown in consumer spending.”

As of market close, Chipotle stock is down about 20% since the start of the year, as tariffs have threatened to increase the cost of its imported ingredients, like avocados, and lead consumers to tighten their purse strings.

The Mexican-inspired chain also announced recently that it would launch in Mexico in 2026. It’s a bold move, and one that didn’t work out for Taco Bell or Domino’s.

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markets

1h

Warner Bros. Discovery jumps after Wells Fargo ups price target on dealmaking buzz

Warner Bros. Discovery shares popped 7% Tuesday after Wells Fargo raised its price target on the media giant to $14 from $13, while keeping an equal-weight rating.

The bank’s optimism stemmed largely from the media giant’s potential for dealmaking. In June, WBD announced that it would would split its operations into two companies, with the Streaming & Studios division (home to Warner Bros. Television, DC Studios, HBO, and Max) standing alone from the networks side (CNN, TNT Sports, and Discovery).

That separation could make the Streaming & Studios unit more attractive to buyers, the analysts said. They valued the segment at about $65 billion, which could translate to a takeover price north of $21 a share. Potential suitors range from Amazon and Apple to Sony and Comcast, though analysts flagged Netflix as the “most compelling” option despite its limited acquisition track record:

“While NFLX has historically not been acquisitive, [streaming and studios’] $12bn in annual content spend + library + 100+ acre studio lot offers a lot. It kickstarts a theatrical IP strategy, quickly scales video games and most importantly provides premium content to members.”

At Goldman Sachs’ Communacopia Conference this week, CEO David Zaslav also highlighted growing traction at HBO Max and hinted at future crackdowns on password sharing.

WBD shares are up 26% year-to-date, and up over 93% over the past 12 months.

markets

1h

Duolingo up on bullish note, hopes for a user rebound

Duolingo rose by the most in nearly a month, as an analyst note painted a more bullish picture of the gamified language learning company despite a dearth of news otherwise.

A quick check-in with analysts covering the stock on Wall Street found most of them otherwise flummoxed on the reason behind the uptick Thursday.

Some, however, suggested the rise may reflect optimism that the company has been able to reverse a months-long downturn in daily active user metrics — a slump that set in after a social media backlash to a somewhat inartful LinkedIn post from the company about its AI first strategy.

The bullish analyst note, published Thursday by Citizens JMP, suggested Duolingo could be a big beneficiary from a change to Apple’s rules governing its App Store driven by a ruling on a Federal antitrust case against the company. The analysts wrote:

Apple’s recent changes to U.S. App Store rules that allow developers to steer payments to the web where fees are similar to typical credit card fees rather than Apple’s 30% fee for in -app purchases and 30% fee on subscriptions for the first year and 15% thereafter, we expect mobile app companies including Duolingo, Life360, and Grindr Inc. to unlock meaningful cost benefits.

At any rate, the next big event on the company’s calendar is its Duocon 2025 conference on Tuesday, where analysts are hoping to hear more hard information on all of the above topics.

markets

2h

Jeep maker Stellantis surges as CEO says the automaker is in productive tariff talks with the US

Shares of Jeep and Dodge maker Stellantis are up more than 8% in Thursday afternoon trading, following comments from the automaker’s new CEO, Antonio Filosa, at a European auto conference.

On tariffs, Filosa said that Stellantis has had a “very productive exchange of ideas” with the Trump administration on the company’s manufacturing footprint and that the environment around the levies is “getting clearer and clearer.”

The US is Stellantis’ top priority, according to Filosa, and the company has taken efforts to turn things around in the market, where it’s struggled with sales in recent years. To fuel the turnaround, Stellantis is bringing back its popular Jeep Cherokee, which it discontinued in 2023.

As of 12:45 p.m. ET, Stellantis’ trading volume was at more than 140% of its average over the past 30 days.

markets

3h

Tempus AI jumps on FDA clearance of AI-enabled tool to analyze cardiac MRIs

Tempus AI, a midcap medical diagnostics company that’s highlighted a push to incorporate AI technology into its products, surged on Thursday after announcing the FDA had issued a “510(k) clearance” of a new AI-enabled tool to analyze cardiac imagery from MRIs.

A 510(k) clearance — used for devices that are considered relatively low risk — essentially allows a product to be sold in the US.

While the company has never turned a profit, even on an adjusted basis, its sales are growing rapidly and the stock has had a great year, rising more than 160% in 2025.

For more on the company, check out our interview with its CEO, Eric Lefkofsky.

Tempus Receives U.S. FDA Special 510(k) Clearance for Updated Tempus Pixel Device

While the company has never turned a profit, even on an adjusted basis, its sales are growing rapidly and the stock has had a great year, rising more than 160% in 2025.

For more on the company, check out our interview with its CEO, Eric Lefkofsky.

markets

5h

Micron surges as Citi boosts price target to $175

Micron is on the move this morning, gapping higher and continuing to trade up double digits after Citi boosted its view on how much the shares can run.

Analyst Christopher Danely raised his price target on the memory chipmaking specialist to $175 from $150, while maintaining a “buy” rating. The average analyst price target of $151 has now been shattered by Micron’s rise today, and the stock is trading at its highest level since June 2024.

This continues Micron’s advance as OpenAI’s dogged determination to burn through cash to enhance its AI capabilities provides a broad lift to the space, punctuated by Oracle’s massive gain on Wednesday.

Call demand is running hot: just 13 minutes into the session, volumes are running at 106,157 compared to a 20-day average of 88,888.

Micron is slated to report quarterly results on September 23.

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