Cava reported a robust quarter with better-than-expected earnings and revenue, which led to an increase in its full-year outlook. The Mediterranean restaurant chain saw its net income soar to $19.7 million, or 17 cents per share, compared to $6.5 million, or 21 cents per share, in the previous year. Net sales also climbed a remarkable
Edgar Bronfman Jr. has made an offer for a controlling stake in Paramount Global that could potentially keep Shari Redstone closely linked to the company. If his bid is successful, Bronfman is open to having Redstone, who currently holds the position of non-executive chairman at Paramount, continue to be involved with the company. This offer
The Inflation Reduction Act has ignited a manufacturing boom across the United States, leading to the mobilization of tens of billions of dollars of investment, particularly in rural communities that are in dire need of economic development. This surge in investment has been a significant driving force behind the economic growth in these areas and
The market is eagerly awaiting Federal Reserve Chair Jerome Powell’s policy speech on Friday, although there is little expectation of any groundbreaking news. The general consensus among investors is that the Fed will begin cutting rates in September and continue to do so through the end of the year and possibly into 2025. While the
Affordable housing has been a key focus in recent political discussions, with Vice President Kamala Harris outlining proposals to address the issue in her economic policy pitch. Harris emphasized the importance of making homeownership more accessible by lowering costs. One of the central aspects of her plan is the construction of 3 million new housing
Passport revocation due to unpaid tax debts has become an increasingly common enforcement mechanism utilized by the federal government in recent years. The IRS and Treasury Department are required by federal law to inform the State Department if a taxpayer has a “seriously delinquent tax debt,” defined as owing more than $62,000 in federal taxes
Amid an overbought market, Wall Street saw back-to-back weekly gains last week. This positive momentum was largely driven by the Federal Reserve’s signals of impending interest rate cuts. Fed Chairman Jerome Powell’s speech from Jackson Hole reassured investors by indicating that it was time for policy adjustments, hinting at possible rate cuts in the near
Investors seem to be shifting their focus to dividend stocks as the Federal Reserve prepares to make its interest rate decision in September. According to Paul Baiocchi from SS&C ALPS Advisors, this move is a wise one due to the anticipated rate cuts by the Fed. Baiocchi believes that investors are making this shift not
In the realm of fast-casual dining, Portillo’s has long been a beloved institution, known for its iconic Chicago-style hot dogs, Italian beef sandwiches, and chocolate cake shakes. However, despite its strong brand recognition and loyal customer base, the company has faced challenges in recent years that have hindered its growth potential. With a stock chart
Boeing’s Starliner capsule will be returning from the International Space Station without the NASA astronauts it delivered to orbit in early June. This decision was announced by NASA on Saturday, marking a significant change in plans for the organization. The astronauts, Butch Wilmore and Suni Williams, will now return via SpaceX’s Dragon spacecraft, which is