McDonald’s: Shares dropped more than 5%, reaching their lowest level since 2022, after CEO Chris Kempczinski said high inflation and flat customer traffic are expected to continue pressuring the restaurant industry. The burger chain reported U.S. same-store sales growth of just 0.8% in its latest quarter as traffic at domestic restaurants declined.
Cracker Barrel Old Country Store: Shares gained 5% after the restaurant chain reported fiscal fourth-quarter adjusted earnings of $0.99 per share, up from $0.74 a year earlier. Revenue of $849.3 million exceeded the $834.6 million consensus estimate tracked by FactSet. Restaurant-level profit margins, cost of goods sold and adjusted EBITDA margins also surpassed expectations.
Worthington Enterprises: The industrial manufacturer’s stock rose 4% following a positive outlook from management. CEO Joseph Hayek cited opportunities throughout the business, including rapidly increasing demand for its engineered American Society of Mechanical Engineers tanks used in data-center liquid-cooling systems. First-quarter adjusted earnings and revenue also beat analyst estimates, according to LSEG.
Astrana Health: Shares fell 6% after the AI-powered healthcare company disclosed a “material” data breach. In a regulatory filing, Astrana said certain private and confidential information had been accessed without authorization. Its investigation remains underway.
Royal Caribbean: The cruise operator’s shares declined nearly 3%, reaching a 52-week low, after it announced plans to acquire a 50% stake in the parent company of Sandals and Beaches Resorts for $3 billion. Royal Caribbean expects the transaction to close in early 2026 and begin contributing to earnings in 2027.
Alibaba: U.S.-traded shares of the Chinese e-commerce company fell 4% as investors took profits following a four-day winning streak. Earlier this week, Alibaba unveiled its Zhenwu V900 artificial intelligence chip and outlined plans to operate more than 20 gigawatts of global data-center capacity by 2032.
Paychex: Shares of the payroll processing company fell almost 7%. Although first-quarter adjusted earnings beat estimates, revenue of $1.63 billion matched analysts’ expectations, according to FactSet. Revenue from the company’s Management Solutions division totaled $1.21 billion, below the $1.23 billion Street consensus estimate.
IonQ: The quantum computing company’s stock rose 5% after it said it had tested the industry’s first real-time quantum error decoder. IonQ said the capability enables quantum error correction across operations without reducing execution speed.
MapleBear: Shares declined 3% after the Instacart owner announced that customers on its grocery platform will be able to use Meta’s personal AI agent, Muse. The partnership follows similar arrangements with OpenAI’s ChatGPT, Anthropic’s Claude and Google’s Gemini.
Immunovant: Shares fell 9% after the clinical-stage immunology company reported disappointing results from a proof-of-concept trial of IMVT-1402 for cutaneous lupus erythematosus, or CLE. Immunovant will halt development of the drug for that condition. Although the study missed its CLE objective, the company intends to continue developing IMVT-1402 for other autoimmune diseases, including Graves’ disease.