The Wendy's Company (NASDAQ:WEN)’s traded down more than 5% on Monday after Jefferies highlighted a weaker-than-expected second quarter same-store sales performance and said near-term trends could remain challenged as the company’s new leadership team works on a strategic plan.
Wendy’s reported US same-store sales declined 7% in the second quarter, missing Jefferies’ estimate of a 5.7% decline. Traffic fell 12.5%, with Jefferies pointing to reduced discounting, changes to breakfast hours and execution issues around quality, operations and marketing as factors weighing on performance.
Intel Corp (NASDAQ:INTC, XETRA:INL) shares fell about 3% Monday after the company announced a $15 billion underwritten public offering of common stock, with proceeds intended for general corporate purposes including capital expenditures and working capital.
Intel said the offering is intended to support its growth opportunities while maintaining a strong balance sheet and its commitment to an investment-grade rating.
Berkshire Hathaway Inc (NYSE:BRK.A) shares gained about 2.5% on Monday after the conglomerate reported stronger-than-expected second quarter results and increased its capital deployment under new CEO Greg Abel.
Revenue came in at about $101.8 billion, above analyst expectations of $96.52 billion.
Archer Aviation (NYSE:ACHR) shares jumped 16% Monday after the company announced a deal to acquire Boeing Co (NYSE:BA, XETRA:BCO)’s Wisk Aero, SkyGrid and Insitu subsidiaries, expanding its presence across autonomous flight, electric vertical takeoff and landing (eVTOL) aircraft, unmanned aircraft systems and air traffic management.
The companies said they have signed definitive agreements for the transaction, which is expected to combine technologies developed across aerospace autonomy, eVTOL aircraft and unmanned systems.
Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) announced that it has updated the branding for its next-generation graphene battery technology as development work continues with the University of Queensland, Rio Tinto and the Battery Innovation Center of Indiana.
The new branding will be used across GMG's graphene battery cells and is intended to highlight the batteries' safety and fast-charging characteristics, as well as the use of graphene to enhance performance and cycle life, the company wrote.
monday.com (NASDAQ:MNDY) shares fell about 6% on Monday after the software company issued third quarter revenue guidance that came in slightly below Wall Street expectations, overshadowing a second quarter earnings and revenue beat.
For the third quarter, monday.com forecast revenue of $368 million to $370 million, representing year-over-year growth of 16% to 17%. The midpoint of the outlook is below the roughly $372.8 million analysts had expected, contributing to the negative reaction in the shares.
Barrick Gold Corp. (TSX:ABX, NYSE:GOLD) shares fell 8% on Monday after the company reported second-quarter results that showed strong year-over-year growth but came in below Wall Street estimates.
The company reported adjusted earnings of $0.82 per share for the quarter, in line with the consensus estimate.
Thruvision Group PLC (AIM:THRU, OTC:DIGTF) shares jumped 46% to 0.91p after the security screening group landed its largest contract in Asia to date.
The AIM-listed company said its principal regional partner has won a deal to deploy Thruvision systems across several major airports in South-East Asia, generating more than £3 million of revenue.