Krispy Kreme plunges 25% as donut giant ditches its dividend, hits pause on McDonald’s collab

The popular donut chain is tightening its belt to focus on debt and long-term growth.

5/8/25 9:14AM

Krispy Kreme shares plunged nearly 25% in premarket trading Thursday after the company scrapped its quarterly dividend and hit pause on its McDonald’s partnership.

The decision is aimed at paying down the company’s stacked debt and fueling long-term growth. As of March, Krispy Kreme had expanded to over 2,400 McDonald’s locations, but it said it will now direct resources to other retail partnerships, including ones with Walmart and Costco.

The move comes along with mixed first-quarter results. Krispy Kreme posted a net loss of $0.05 per share, matching the Street’s expectations. Revenue landed at $375.2 million, in line with company guidance but shy of Wall Street’s $384.4 million target.

Looking ahead, the company expects second-quarter net revenue between $370 million and $385 million, below analysts’ estimates of $393 million.

Before this morning’s premarket drop, Krispy Kreme shares were down more than 66% over the past year.

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SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

Krispy Kreme plunges 25% as donut giant ditches its dividend, hits pause on McDonald’s collab

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