markets

J. Edward Moreno2/20/25

Shake Shack expects competitors to ditch eggs for chicken and beef

High egg prices may lead to breakfast menus with less egg and more beef or chicken, Shake Shack’s CEO told analysts on Thursday.

The executive, Rob Lynch, made the comment in response to a question about the impacts of tariffs and inflation. He noted that Shake Shack sources most of its ingredients domestically and doesn’t use very many eggs, but if other restaurants start consuming more chicken and beef, that might have a ripple effect on Shake Shack:

“We don’t have a breakfast business, a big breakfast business. So we don’t have the exposure to eggs. But other restaurant companies that have exposure to eggs may be moving away from eggs in the time being, which means they’re going to offer more beef products or chicken products to complement or to substitute for that high-cost item. And when that consumption demand changes, it has the potential to change even some domestic pricing.”

It wouldn’t be the first time companies have made such adjustments. As prices for beef surpassed chicken, food companies started offering more chicken products. McDonald’s, for one, now sells more chicken than beef.

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Snap shoots up 25% on $400 million deal with Perplexity, strong earnings

Snap shares shot up as much as 25% in after-hours trading on the release of third-quarter earnings that beat estimates, as well as the announcement of a big deal with AI startup Perplexity to integrate its “conversational AI search” into Snap products.

Some highlights:

Revenue came in at $1.51 billion, up 10% year on year (compared to Wall Street’s estimate of $1.49 billion).
Adjusted EBITDA was $182 million (estimate: $124 million).
Global monthly active users hit 943 million, up 7% year on year.
Perplexity will pay Snap $400 million “over one year, through a combination of cash and equity, as we achieve global rollout” of its conversational search engine within Snapchat.

The company also announced a $500 million stock buyback program.

Snap shares rocket 25% on strong forecast, $400 million Perplexity deal

Snap shares rocket 25% on strong forecast, $400 million Perplexity deal

Some highlights:

Revenue came in at $1.51 billion, up 10% year on year (compared to Wall Street’s estimate of $1.49 billion).
Adjusted EBITDA was $182 million (estimate: $124 million).
Global monthly active users hit 943 million, up 7% year on year.
Perplexity will pay Snap $400 million “over one year, through a combination of cash and equity, as we achieve global rollout” of its conversational search engine within Snapchat.

The company also announced a $500 million stock buyback program.

Duolingo Q3 2025 earnings

Duolingo dives on Q3 user growth miss, uninspiring guidance

Duolingo has run into stiff headwinds this year.

Matt Phillips2h

markets

Nvidia slumps as Jensen Huang warns that China “will win” the AI race versus the US

Nvidia tumbled late in the session Wednesday after the Financial Times released an article in which CEO Jensen Huang says that “China is going to win the AI race” because it has a more favorable regulatory environment and cheaper access to power.

Reading between the lines here, I’d say the main takeaway for traders is what’s left unsaid at the end of this sentence: “China is going to win the AI race” — without having access to Nvidia’s flagship processors, or even wanting its nerfed chips!

Not exactly a signal that Nvidia’s hardware is as all-important and synonymous with success in AI as its stock price and revenue trajectory would suggest it is!

President Trump didn’t discuss Blackwell chips with Chinese President Xi at last week’s meeting, being convinced by advisers to keep that off the table. And while Nvidia has the all-clear to sell its H20 chips to China again, China’s internet regulator apparently instructed its leading tech companies not to buy them, preferring to bolster its domestic capabilities.

markets

Max Knoblauch2h

Lucid dips as it lowers its full-year production forecast

Shares of Lucid are down more than 4% in after-hours trading on Wednesday following the luxury EV maker’s third-quarter earnings results.

Lucid, which delivered 47% more vehicles in Q3 than in the same period last year, posted an adjusted loss per share of $2.65, compared to the $2.29 loss per share Wall Street analysts polled by FactSet expected.

The company also:

Booked $336.6 million in revenue, up 68% from last year and above the consensus estimate of $349.5 million.
Updated its full-year production outlook to 18,000 vehicles, the bottom of its previous range of between 18,000 and 20,000 vehicles. Wall Street expected the company to build 18,940 vehicles on the year.

Lucid shares sold off heavily during Q3 as the company executed a 1-for-10 reverse stock split that took effect in early September. The stock remains lower compared to its highs earlier this year and is down more than 40% year to date as of Wednesday’s close. That’s significantly underperforming larger rivals like Rivian and Tesla.

markets

J. Edward Moreno2h

Lyft posts earnings miss, but bookings top estimates

Lyft reported third-quarter earnings that missed Wall Street’s estimates, but bookings topped expectations.

Shares were recently up 2.3% in after-hours trading.

The company reported earnings per share of $0.11, compared to the $0.24 analysts polled by FactSet were expecting. Gross bookings came in at $4.8 billion, slightly more than the $4.7 billion the Street was expecting. It reported revenue of $1.7 billion, in line with analyst expectations.

Lyft’s top competitor, Uber, reported revenue numbers on Tuesday that beat expectations, though its stock still took a dip on the news.

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