Arcos Dorados Holdings 주식 (NYSE: ARCO)

Arcos Dorados Holdings (NYSE:ARCO) 주식

Arcos Dorados Holdings

Arcos Dorados Holdings Inc operates McDonald's-branded restaurants in approximately 20 countries and territories in Latin America and the Caribbean. It functions through two sources which include company-operated restaurants and franchised restaurants segment. Their menu includes hamburgers, McNuggets, salad, sandwiches, french fries and others.

Arcos Dorados Holdings Inc. Class A Shares

Arcos Dorados Holdings Inc

Arcona

Arcosa Inc

Arcos Dorados Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) saw its shares rise on Thursday following the announcement of a renewed Master Franchise Agreement with McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>).
The new 20-year MFA, effective January 1, replaces the previous agreement and includes an option for renewal at <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/b42761894/arcos-dorados-and-mcdonalds-renew-master-franchise-agreement-for-20-years" rel="noreferrer noopener">McDonald&#8217;s discretion for another 20 years, beginning January 1, 2045.</a>
The updated agreement includes a royalty fee structure based on gross sales: 6.0% for the first ten years, 6.25% for the next five years, and 6.5% for the final five years. This renewal reflects the long-standing partnership between the two companies.
Woods Staton, Executive Chairman of Arcos Dorados, expressed pride in the company&#8217;s role as McDonald&#8217;s primary franchisee in Latin America and the Caribbean, emphasizing the positive impact the company has had on the communities it serves.
Also Read:<a target="_blank" href="https://www.benzinga.com/25/01/42761107/us-stocks-to-open-higher-in-the-first-trading-session-of-2025-analyst-says-history-favors-rebound-after-year-end-dip" rel="noreferrer noopener"> US Stocks To Open Higher In The First Trading Session Of 2025: Analyst Says History Favors Rebound After Year-End Dip</a>
&#8220;Over the next 20 years, we will work even harder to consolidate our market leadership in all aspects of our business for the benefit of all our stakeholders,&#8221; he concluded.
Arcos Dorados will provide additional details on the new deal in accordance with US Securities and Exchange Commission requirements.
&#8220;In line with McDonald&#8217;s global growth strategy, we expect our restaurant opening pipeline to unlock even more shareholder value, as we capture the significant expansion opportunity over the next several years,&#8221; said &nbsp;Marcelo Rabach, Chief Executive Officer in <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b41936043/arcos-dorados-reports-third-quarter-financial-results" rel="noreferrer noopener">a press release dated November 13, 2024.</a>
According to the company&#8217;s proprietary research, McDonald&#8217;s brand gained five points of value share across its operating footprint in the third quarter compared with the prior year period.
Price Action: ARCO shares are trading higher by 3.98% to $7.57 premarket at last check Thursday.
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Photo via Shutterstock.

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ARCO

Arcos Dorados Renews Franchise Agreement With McDonald's, Stock Gains

The parties have finalized a new, 20-year MFA, that became effective on January 1, 2025, and replaced the previous MFA. The new MFA also includes a renewal option, at McDonald's discretion, for a new, 20-year MFA, beginning January 1, 2045.
As previously announced, the new MFA includes a royalty fee of gross sales of 6.0% for the first ten years, 6.25% for the subsequent five years and 6.5% for the final five years. &nbsp;

Arcos Dorados Renews Master Franchise Agreement With McDonald's For 20 Years

Arcos Dorados Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) shares <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b41936043/arcos-dorados-reports-third-quarter-financial-results" rel="noreferrer noopener">are trading lower on Wednesday.</a>
The company reported earnings per share of 17 cents, beating the street view of 16 cents. Quarterly revenues of $1.133 billion outpaced the analyst consensus estimate of $1.120 billion.
Arcos Dorados reported strong third-quarter results, with systemwide comparable sales growing 32.1%, fueled by both higher average check amounts and increased guest volume. Digital channel sales, including those from the Mobile App, Delivery, and Self-order Kiosks, rose 16% compared to the prior year and now account for 58% of total systemwide sales.
The company&#8217;s Loyalty Program, now active in three markets, saw significant growth, reaching 12.9 million registered members. Consolidated adjusted EBITDA for the quarter was $125.0 million, reflecting an 11.0% margin.
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Arcos Dorados&#8217; net debt to adjusted EBITDA leverage ratio remained steady at 1.2x at the end of the third quarter, unchanged from the previous quarter.
The company opened 19 new Experience of the Future (EOTF) restaurants during the quarter, with 11 of them located in Brazil.
The restaurant development plan remains on track and the company expects to meet its full year guidance of 80 to 90 restaurant openings in 2024.
The company exited the quarter with cash and equivalents worth $120.807 million.
Price Action: ARCO shares are trading lower by 0.48% to $8.36 at last check Wednesday.
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41938762/october-inflation-rate-rises-to-2-6-as-expected-december-interest-rate-cut-remains-uncertain" target="_blank" rel="noreferrer noopener">October Inflation Rate Rises To 2.6% As Expected: December Interest Rate Cut Remains Uncertain (UPDATED)</a></li>
</ul>

Earnings

McDonald's Franchisee Arcos Dorados Beats On Q3 Earnings, Systemwide Comparable Sales Jump

Arcos Dorados Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) reported quarterly earnings of $0.17 per share which beat the analyst consensus estimate of $0.16 by 6.25 percent. The company reported quarterly sales of $1.133 billion which beat the analyst consensus estimate of $1.120 billion by 1.16 percent. This is a 0.71 percent increase over sales of $1.125 billion the same period last year.

Earnings Beats

Arcos Dorados Holdings Q3 2024 GAAP EPS $0.17 Beats $0.16 Estimate, Sales $1.133B Beat $1.120B Estimate

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Earnings Scheduled For November 13, 2024

WIIM

Arcos Dorados shares are trading higher after the company announced plans to exercise its option to new its master franchise agreement with McDonald's.

Upon signing, the new MFA agreement is expected to include a Renewal Option for a new, 20-year MFA, beginning January 1, 2045. Additionally, the new agreement is expected to include a royalty of Gross Sales of&nbsp;6.0%&nbsp;for the first ten years,&nbsp;6.25%&nbsp;for the subsequent five years and&nbsp;6.5%&nbsp;for the final five years.
In line with this view, the Company expects to open approximately 90 to 100 restaurants in 2025.

Arcos Dorados Plans To Exercise Its Option To Renew Its Master Franchise Agreement With McDonald's

JP Morgan analyst Ian Luketic maintains Arcos Dorados Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) with a Overweight and lowers the price target from $14 to $12.

Price Target

Analyst Ratings

JP Morgan Maintains Overweight on Arcos Dorados Holdings, Lowers Price Target to $12

Arcos Dorados Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) reported quarterly earnings of $0.13 per share which met the analyst consensus estimate. This is unchanged from the same period last year. The company reported quarterly sales of $1.11 billion which beat the analyst consensus estimate of $1.06 billion by 4.81 percent. This is a 6.72 percent increase over sales of $1.04 billion the same period last year.

Arcos Dorados Holdings Q2 EPS $0.13, Inline, Sales $1.11B Beat $1.06B Estimate

Market volatility is likely to persist, with Federal Reserve officials projecting only a single rate cut this year despite the recent inflation report indicating easing price pressures. As a result, volatility and uncertainty may continue in the stock market, emphasizing the importance of assembling a portfolio consisting of low-beta stocks. These securities are expected to deliver strong returns while offering protection against unpredictable market conditions.
In this regard, stocks like The Vita Coco Company, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coco#NASDAQ">COCO</a>), Seanergy Maritime Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ship#NASDAQ">SHIP</a>), Arcos Dorados Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/arco#NYSE">ARCO</a>) and Palomar Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plmr#NASDAQ">PLMR</a>) are worth betting on.
<h3>Understanding Beta</h3>
Beta measures the volatility or risk of a particular asset compared to the market. In other words, beta measures the extent of a security&#39;s price movement relative to the market. In this article, we are considering the S&amp;P 500 as the market.
If a stock has a beta of 1, then the price of the stock will move with the market. So, the stock is more volatile than the market if its beta is more than 1. In the same way, the stock is not as volatile as the market if its beta is less than 1.
For example, if the market offers a return of 20%, a stock with a beta of 3 will return 60%, which is overwhelming. Similarly, when the market slips 20%, the stock will sink 60%, which is devastating.
<h3>Screening Criteria:</h3>
We have taken&nbsp;a beta between 0 and 0.6&nbsp;as our prime criterion for screening stocks that are less volatile than the market. However, this should not be the only factor to be considered while selecting a winning strategy. We need to take into account other parameters that can add value to the portfolio.
Percentage Change in Price in the Last 4 Weeks Greater Than Zero:&nbsp;This ensures that the stocks saw positive price movement over the last month.
Average 20-Day Volume Greater Than 50,000:&nbsp;A substantial trading volume ensures that the stocks are easily tradable.
Price Greater Than or Equal to $5:&nbsp;They must all be trading at a minimum of $5 or higher.
Zacks Rank Equal to 1:&nbsp;Zacks Rank #1 (Strong Buy) stocks indicate that they will significantly outperform the broader U.S. equity market over the next one to three months.
Here are four of the six stocks that qualified for the screening:
The Vita Coco Company, a prominent developer and distributor of coconut water products, is strategically investing in initiatives to broaden the range of occasions when consumers might enjoy coconut water. By promoting its versatility and highlighting its benefits across various contexts, the company aims to integrate coconut water into more aspects of daily life. This effort is significantly boosting the performance of its flagship Vita Coco Coconut Water brand, which is experiencing robust growth and increased market presence as a result.
Seanergy Maritime, a prominent shipping company, recently announced the acquisition of an additional Capesize vessel constructed in 2012 in Japan for a purchase price of $35.6 million. This strategic acquisition is expected to enhance the company&#39;s operational capacity and strengthen its position in the shipping market. SHIP is committed to providing significant returns to shareholders while concurrently renewing and expanding its fleet.
Arcos Dorados is the largest franchisee within the McDonald&#39;s system and operates on a robust business model. To mitigate risks associated with specific countries, the company has diversified its operational footprint over the past decade. While Brazil remains its primary market, Arcos Dorados has significantly benefited from the growth opportunities presented by dynamic markets such as Chile, Colombia and Uruguay, which have positively influenced its financial performance.
Palomar Holdings, a prominent specialty insurance provider, is demonstrating impressive growth, evidenced by the increase in both gross written premiums and net earned premiums. This growth highlights the company&#39;s favorable business climate. With a diverse portfolio of specialty insurance products, Palomar Holdings is well-positioned, reinforcing a positive full-year outlook.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
<a href="https://www.zacks.com/stock/news/2287759/bet-on-these-4-low-beta-stocks-to-navigate-market-uncertainty?cid=CS-BENZ-FT-analyst_blog|rw-2287759">To read this article on Zacks.com click here.</a>

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Bet on These 4 Low-Beta Stocks to Navigate Market Uncertainty

Arcos Dorados Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/arco#NYSE">ARCO</a>) reported first-quarter 2024 results, with revenues beating the Zacks Consensus Estimate. The top line increased year-over-year, while the bottom line fell from the prior-year quarter&#39;s figure. 
During the quarter, the company stated benefits from the integration of the business model with the Three-D&#39;s strategy (Digital, Delivery, and Drive-thru). Also, the emphasis on pricing, product assortment and guest traffic management resulted in comparable sales growth exceeding inflation rates across its operations. 
Following the results, the company&#39;s shares fell 5.7% during trading hours on May 15. Negative investor sentiments were witnessed as the company cited sales pressure in the short term due to the persistent challenging macroeconomic conditions.
<h3>Delving Deeper</h3>
During the first quarter, the company reported adjusted earnings per share of 14 cents. The bottom line fell 22% year over year from 18 cents reported in the year-ago quarter.
<div class="chart_embed">
<h3>Arcos Dorados Holdings Inc. Price, Consensus and EPS Surprise</h3>
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<a href="https://www.zacks.com/stock/chart/ARCO/price-consensus-eps-surprise-chart?icid=chart-ARCO-price-consensus-eps-surprise-chart"><img alt="Arcos Dorados Holdings Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/7b/1715862017.png" style="height:265px; width:574px" title="" /> </a>
Arcos Dorados Holdings Inc. price-consensus-eps-surprise-chart | Arcos Dorados Holdings Inc. Quote
</div>
During the quarter, the company reported revenues of $1.08 billion, beating the consensus mark of $1.04 billion. The top line increased 9.1% on a year-over-year basis. 
Off-premise sales, including Delivery and Drive-thru, rose 14% (in U.S. dollars), contributing 44% to systemwide sales. On-premise sales rose by 7% year over year and contributed 56% to systemwide sales. 
Digital channel sales during the quarter rose 30% year over year and represented 55% of systemwide sales. The Company&#39;s Digital platform benefitted from strong penetration of sales through Self-order kiosks and the Own Delivery and Mobile Order and Pay functionalities on the Mobile App. 
During the first quarter, comparable restaurant sales increased 38.6% year over year, courtesy of strong guest volume growth.
<h3>Operating Highlights</h3>
During the first quarter, operating income amounted to $67.6 million compared with $66.3 million reported in the prior-year quarter. 
During the quarter, food and paper costs came in at $361 million compared with $333.9 million reported in the prior-year quarter. General and administrative expenses in the first quarter came in at $68.7 million compared with $65.6 million in the prior-year period. 
Adjusted EBITDA in the first quarter came in at $108.9 million compared with $100.5 million reported in the prior-year quarter.
<h3>Balance Sheet</h3>
Total cash and cash equivalents as of Mar 31, 2024, totaled $127.5 million compared with $196.7 million on Dec 31, 2023. 
Net debt (total financial debt minus total cash and cash equivalents) as of Mar 31, 2024, was $577.5 million, up from $481.3 million at 2023-end.
<h3>Store Developments</h3>
During the first quarter, the company opened 22 Experience of the Future (EOTF) restaurants, including 19 free-standing units. The Brazil division opened 11 EOTF restaurants with 10 new free-standing units.
<h3>Zacks Rank</h3>
Arcos Dorados currently carries a Zacks Rank #3 (Hold).
<h3>Recent Retail-Wholesale Releases</h3>
Yum China Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yumc#NYSE">YUMC</a>) reported impressive first-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and the bottom line increased on a year-over-year basis. The upside can be attributed to robust total system sales growth and new unit contribution.
During the quarter, YUMC reported adjusted EPS of 71 cents, beating the Zacks Consensus Estimate of 66 cents. The bottom line moved up 2.9% from 69 cents reported a year ago. Quarterly revenues of $2.96 billion outpaced the consensus mark of $2.94 billion. The top line inched up 1% on a year-over-year basis. Excluding foreign currency translation, revenues increased 7% year over year. 
Chipotle Mexican Grill, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cmg#NYSE">CMG</a>) released stellar first-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and the bottom line increased on a year-over-year basis. During the quarter, the company reported benefits from enhanced throughput and effective marketing initiatives like Braised Beef Barbacoa and Chicken Al Pastor, leading to strong sales and transaction growth. The company stated that the momentum continued into April. 
During the quarter, CMG reported adjusted EPS of $13.37, outpacing the Zacks Consensus Estimate of $11.63. The bottom line increased 27.3% from $10.50 reported in the year-ago quarter. Quarterly revenues of $2.7 billion surpassed the consensus mark of $2.68 billion by 1%. The top line rose 14.1% on a year-over-year basis on the back of strong comparable restaurant sales growth and new restaurant openings. 
McDonald&#39;s Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mcd#NYSE">MCD</a>) posted mixed first-quarter 2024 results, with earnings missing the Zacks Consensus Estimate and revenues beating the same. The top and the bottom line increased on a year-over-year basis. 
During the quarter, MCD registered adjusted EPS of $2.70, missing the Zacks Consensus Estimate of $2.71. EPS increased 2% year over year. Quarterly net revenues of $6,169 million beat the consensus mark of $6,168 million. The top line rose 5% year over year.
<a href="https://www.zacks.com/stock/news/2274699/arcos-dorados-arco-q1-earnings-fall-y-y-sales-top-estimates?cid=CS-BENZ-FT-analyst_blog|earnings_article-2274699">To read this article on Zacks.com click here.</a>

YUMC

Arcos Dorados Q1 Earnings Fall Y/Y, Sales Top Estimates

The CNN Money Fear and Greed index showed further improvement in overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Wednesday.
U.S. stocks settled higher on Wednesday, with the S&amp;P 500 surging to a record high level during the session.
On the economic data front, U.S. consumer prices rose 0.3% month-over-month in April compared to 0.4% in the previous month, and also down from market expectations of 0.4%. Annual inflation rate in the U.S. slowed to 3.4% in April from 3.5% a month ago. U.S. retail sales came in unchanged month-over-month in April compared to a revised 0.6% increase in March.
Yields on the benchmark 10-year and 2-year Treasurys moved lower following the economic data.
Shares of Arcos Dorados Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) fell around 6% on Wednesday after reporting results for its first quarter
All sectors on the S&amp;P 500 closed on a positive note, with information technology, real estate and health care stocks recording the biggest gains on Wednesday.
The Dow Jones closed higher by around 350 points to 39,908.00 on Wednesday. The S&amp;P 500 rose 1.17% at 5,308.15, while the Nasdaq Composite gained 1.40% at 16,742.39 during Tuesday's session.
Investors are awaiting earnings results from JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), and Deere &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) today.
At a current reading of 59.7, the index remained in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 57.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/24/05/38844468/jim-cramer-this-industrial-company-is-absolutely-terrific-recommends-buying-modine-manufacturing">Jim Cramer: This Industrial Company Is &#8216;Absolutely Terrific&#8217;, Recommends Buying Modine Manufacturing</a>

Pre-Market Outlook

Fear & Greed Index In 'Greed' Zone; S&P 500 Hits Record High After April Inflation Report

U.S. stocks traded higher toward the end of trading, with the S&amp;P 500 gaining around 1% on Wednesday.
The Dow traded up 0.68% to 39,827.63 while the NASDAQ rose 1.29% to 16,723.91. The S&amp;P 500 also rose, gaining, 1.03% to 5,300.57.
Check This Out: <a href="https://www.benzinga.com/news/24/05/38840839/wall-streets-most-accurate-analysts-views-on-3-materials-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Materials Stocks Delivering High-Dividend Yields</a>
Leading and Lagging Sectors Utilities shares rose by 1.5% on Wednesday.
In trading on Wednesday, energy shares fell by 0.8%.
Top Headline
Shares of Arcos Dorados Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) fell around 5% on Wednesday after reporting results for its first quarter
The company reported total revenues of $1.081 billion in the first quarter, up 9.1% versus the prior year. Quarterly sales marginally beat the analyst consensus of $1.020 billion. Arcos Dorados reported first-quarter earnings per share of 14 cents, missing the street view of 17 cents.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>OptimizeRx Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPRX#NASDAQ">OPRX</a>) shares shot up 23% to $12.90 following upbeat quarterly results.</li>
<li>Shares of Edible Garden AG Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EDBL#NASDAQ">EDBL</a>) got a boost, surging 30% to $5.57 following first-quarter results.</li>
<li>iPower Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPW#NASDAQ">IPW</a>) shares were also up, gaining 34% to $1.19 after the company reported better-than-expected third-quarter financial results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Virpax Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRPX#NASDAQ">VRPX</a>) shares dropped 66% to $0.7796 after the company reported pricing of $2.25m public offering.</li>
<li>Shares of Pixelworks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PXLW#NASDAQ">PXLW</a>) were down 35% to $1.22 after the company issued soft second-quarter guidance.</li>
<li>Aethlon Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEMD#NASDAQ">AEMD</a>) was down, falling 47% to $0.4542 after the company announced pricing of $4.7 million public offering.</li>
</ul>
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Commodities In commodity news, oil traded up 0.8% to $78.63 while gold traded up 1.5% at $2,392.90.
Silver traded up 3.7% to $29.755 on Wednesday, while copper rose 0.7% to $4.9290.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.59%, Germany's DAX rose 0.82% and France's CAC 40 rose 0.17%. Spain's IBEX 35 Index rose 1.10%, while London's FTSE 100 rose 0.21%.
Industrial production in the Eurozone increased by 0.6% month-over-month in March compared to a revised 1% gain in the previous month. The Eurozone economy grew by 0.3% on quarter during the first three months, compared to a 0.1% decline in the prior quarter.
The annual inflation rate in France fell to 2.2% in April from 2.3% in March.
Asia Pacific Markets
Asian markets closed mostly lower on Wednesday, with Japan's Nikkei gaining 0.08%, China's Composite Index falling 0.82%, Hong Kong's Hang Seng Index falling 0.22% and India's S&amp;P BSE Sensex falling 0.22%.
Total passenger vehicle sales in India rose 1.2% year-over-year to 287,746 in April compared to an 8.9% rise in the prior month. The People&#8217;s Bank of China kept the interest rate unchanged at 2.50%.
Economics
<ul>
<li>Mortgage applications in the US rose 0.5% from the prior week in the period ending May 10.</li>
<li>U.S. consumer prices rose 0.3% month-over-month in April compared to 0.4% in the previous month, and also down from market expectations of 0.4%.</li>
<li>Annual inflation rate in the U.S. slowed to 3.4% in April from 3.5% a month ago.</li>
<li>U.S. retail sales came in unchanged month-over-month in April compared to a revised 0.6% increase in March.</li>
<li>The NY Empire State Manufacturing Index declined to -15.6 in May compared to -14.3 in the prior month, and versus market estimates of -10.0.</li>
<li>Total business inventories declined by 0.1% month-over-month in March compared to a revised 0.3% gain in February.</li>
<li>The NAHB/Wells Fargo Housing Market Index declined to 45.0 in May, recording the lowest level in four months.</li>
<li>Crude oil inventories in the U.S. declined by 2.508 million barrels in the week ending May 10, compared to a 1.362 million gain in the prior period.</li>
</ul>
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Gold Rises Over 1%; Arcos Dorados Shares Fall After Q1 Results

Arcos Dorados Holdings Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) shares are trading lower in the&nbsp;morning session on Wednesday.
The company reported total revenues of $1.081 billion in the first quarter,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b38839705/arcos-dorados-reports-strong-first-quarter-financial-results" rel="noreferrer noopener">up 9.1% versus the prior year</a>. Quarterly sales marginally beat the analyst consensus of $1.020 billion.
Systemwide comparable sales grew 38.6% in the first quarter, supported by the twelfth consecutive quarter of guest volume growth. Digital channels (Mobile App, Delivery, and Self-order Kiosks) generated 55% of systemwide sales in the period, including 22% identified sales.
Consolidated Adjusted EBITDA in the quarter under review was $108.9 million, rising 8.4%&nbsp;year-over-year.&nbsp;Adjusted EBITDA margin expanded 90 basis points in Brazil and 30 basis points in NOLAD.
Arcos Dorados reported first-quarter earnings per share of 14 cents, <a href="https://www.benzinga.com/earnings">missing the street view of 17 cents.</a>
&#8220;By operating responsibly and managing the business with a long-term mindset, we built our strongest ever Brand reputation among Latin America&#8217;s quick service restaurant (QSR) customers,&#8221; said Marcelo Rabach, Chief Executive Officer.
Notably, in the first quarter of&nbsp;2024,&nbsp;the company signed an agreement to become a regional sponsor of Formula One in Latin America.&nbsp;
&#8220;This agreement&nbsp;is expected&nbsp;to provide significant brand presence&nbsp;and&nbsp;the sponsorship will focus on further leveraging the company&#8217;s successful&nbsp;Three-D&#8217;s&nbsp;strategy, especially the Drive-thru segment with its precision, teamwork&nbsp;and&nbsp;speed of service,&#8221; the company said.
Price Action: ARCO shares are trading lower by 2.59% to $10.92 at last check Wednesday. 
Photo Generated Using Dall-E Artificial Intelligence

What's Going On With McDonald's Franchisee Arcos Dorados Stock Today?

Arcos Dorados Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) reported quarterly earnings of $0.14 per share. This is a 22.22 percent decrease over earnings of $0.18 per share from the same period last year. The company reported quarterly sales of $1.081 billion which beat the analyst consensus estimate of $1.020 billion by 5.93 percent. This is a 9.10 percent increase over sales of $990.792 million the same period last year.

Arcos Dorados Holdings Q1 2024 GAAP EPS $0.14 Down From $0.18 YoY, Sales $1.081B Beat $1.020B Estimate

The CNN Money Fear and Greed index showed further improvement in overall market sentiment, but the index remained in the &#8220;Neutral&#8221; zone on Tuesday.
U.S. stocks settled higher on Tuesday, with the Nasdaq Composite surging to a new closing record level during the session.
On the economic data front, U.S. producer prices rose 0.5% month-over-month in April compared to a revised 0.1% decline in March and higher than market expectations of 0.3%. Data on consumer prices for April will be released today.
Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) reported weaker-than-expected earnings for its fiscal fourth-quarter. Home Depot Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) reported downbeat sales for its first quarter on Tuesday.
Most sectors on the S&amp;P 500 closed on a positive note, with information technology, real estate and financial stocks recording the biggest gains on Tuesday. However, consumer staples and energy stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 127 points to 39,558.11 on Tuesday. The S&amp;P 500 rose 0.48% at 5,246.68, while the Nasdaq Composite gained 0.75% at 16,511.18 during Tuesday's session.
Investors are awaiting earnings results from Dole plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOLE#NYSE">DOLE</a>), Arcos Dorados Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>), and Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) today.
At a current reading of 53.9, the index remained in the &#8220;Neutral&#8221; zone on Tuesday, versus a prior reading of 50.9.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/24/05/38817342/jim-cramer-says-nu-skin-is-overvalued-praises-fabulous-pure-storage">Jim Cramer Says Nu Skin Is &#8216;Overvalued,&#8217; Praises &#8216;Fabulous&#8217; Pure Storage</a>

BABA

Investor Optimism Improves Ahead Of CPI Report, Nasdaq Settles At Record High

With U.S. stock futures trading mixed this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) to report quarterly earnings at 82 cents per share on revenue of $12.53 billion after the closing bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Cisco shares rose 0.1% to $49.00 in after-hours trading.</li>
<li>Prestige Consumer Healthcare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBH#NYSE">PBH</a>) reported worse-than-expected financial results for the fourth quarter and issued weak guidance. Prestige Consumer Healthcare shares dipped 7.7% to $66.00 in the after-hours trading session.</li>
<li>Analysts are expecting Arcos Dorados Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) to post quarterly earnings at 17 cents per share on revenue of $1.02 billion. The company will release earnings before the markets open. Arcos Dorados shares rose 1.7% to $11.40 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a> 
<ul>
<li>Infinera Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INFN#NASDAQ">INFN</a>) reported weak preliminary financial results for the first quarter. The company said it sees preliminary adjusted loss of 17 cents per share, versus market expectations for a loss of 13 cents per share. It expects preliminary revenue of $306.9 million for the quarter, down from estimates of $336.995 million. Infinera shares tumbled 10.8% to $5.17 in the after-hours trading session.</li>
<li>Analysts expect Dole plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOLE#NYSE">DOLE</a>) to post quarterly earnings at 31 cents per share on revenue of $2.12 billion before the opening bell. Dole shares rose 1.2% to $12.41 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38817342/jim-cramer-says-nu-skin-is-overvalued-praises-fabulous-pure-storage">Jim Cramer Says Nu Skin Is &#8216;Overvalued,&#8217; Praises &#8216;Fabulous&#8217; Pure Storage</a>

INFN

Cisco, Prestige Consumer Healthcare And 3 Stocks To Watch Heading Into Wednesday

Arcos Dorados Holdings Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCO#NYSE">ARCO</a>) shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">trading lower on Wednesday.</a>
The company reported fourth earnings per share of 26 cents,&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">which missed the street view of 31 cents.&nbsp;</a>
Quarterly sales of 1.176 billion outpaced the analyst consensus of $1.150 billion. Sales <a href="https://www.benzinga.com/pressreleases/24/03/b37650950/arcos-dorados-reports-strong-fourth-quarter-and-full-year-2023-financial-results">rose 15.4% year over year.</a>
Systemwide comparable sales increased 32.4%, with higher guest traffic and average check driving at or above-inflation growth in all divisions.
Consolidated adjusted EBITDA reached $132.6 million, the company&#8217;s highest quarterly result, rising 16.3% year over year.
Consolidated Adjusted EBITDA margin was 11.3%, rising 10 basis points year over year.
Arcos Dorados opened 36 restaurants in the quarter, including 31 free-standings locations and 18 new restaurants in Brazil.
&#8220;We are just getting started with the Three D&#8217;s strategy driving sustainable sales growth, supported by restaurant volume and average check,&#8221; said CEO Marcelo Rabach. 
&#8220;Our objective is to deliver above inflation growth in systemwide comparable sales to then drive operating leverage and profitability growth over time,&#8221; Rabach added.
Arcos Dorados plans to open 80 to 90 restaurants in 2024, comprised of about 90% free-standing units.&nbsp;
The company projects total capital expenditures of $300 million<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">&nbsp;to $350 million for the full year 2024.</a>
ARCO Price Action:&nbsp;Arcos Dorados shares are trading lower by 4.81% to $11.38 on last check Wednesday.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/03/37666956/why-plug-power-shares-are-slumping-today">Why Plug Power Shares Are Slumping Today</a>
The image was generated using artificial intelligence MidJourney

Latin America

Restaurants

Why Arcos Dorados Shares Are Plunging Today

Arcos Dorados shares are trading lower following mixed Q4 earnings.

U.S. stocks were mixed, with the Dow Jones index surging more than 100 points on Wednesday.
Shares of Dollar Tree, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dltr#NASDAQ">DLTR</a>) fell sharply during Wednesday&rsquo;s session after the company reported worse-than-expected fourth-quarter financial results and issued first-quarter <a href="https://www.benzinga.com/news/earnings/24/03/37655884/why-discount-store-chain-dollar-tree-shares-are-plunging-today">EPS guidance below estimates</a>.
Dollar Tree reported fourth-quarter FY23 sales growth of 11.9% year-on-year to $8.63 billion, missing the analyst consensus estimate of $8.67 billion. Adjusted EPS of $2.55 missed the consensus estimate of $2.65, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Dollar Tree shares dipped 14.5% to $128.00 on Wednesday.
Here are some other big stocks recording losses in today&rsquo;s session.
<ul>
<li>NaaS Technology Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/naas#NASDAQ">NAAS</a>) declined 20.1% to $1.19 after the company announced a $6 million registered direct offering.</li>
<li>Comtech Telecommunications Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmtl#NASDAQ">CMTL</a>) dipped 19% to $4.6599. Comtech named John Ratigan as Interim Chief Executive Officer.</li>
<li>loanDepot, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ldi#NYSE">LDI</a>) dipped 15.9% to $2.1350 following weak quarterly results.</li>
<li>Rackspace Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rxt#NASDAQ">RXT</a>) tumbled 13.3% to $1.9150 after the company issued first-quarter guidance below estimates. The company also announced refinancing transactions.</li>
<li>ZIM Integrated Shipping Services Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/zim#NYSE">ZIM</a>) dipped 12.4% to $10.22 following weak quarterly sales.</li>
<li>Neumora Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nmra#NASDAQ">NMRA</a>) fell 12.2% to $15.24.</li>
<li>Tevogen Bio Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tvgn#NASDAQ">TVGN</a>) dipped 8.8% to $6.09.</li>
<li>ADC Therapeutics SA (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adct#NASDAQ">ADCT</a>) fell 8.8% to $4.06 following quarterly results.</li>
<li>Solowin Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/swin#NASDAQ">SWIN</a>) declined 8.6% to $26.61.</li>
<li>Arcos Dorados Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/arco#NYSE">ARCO</a>) dipped 8.4% to $10.95 following downbeat quarterly earnings.</li>
<li>Ichor Holdings, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ichr#NASDAQ">ICHR</a>) fell 8% to $39.27 after announcing a $125 million public offering of ordinary shares.</li>
<li>Nukkleus Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nukk#NASDAQ">NUKK</a>) fell 5.4% to $1.06.</li>
<li>Tesla, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) shares declined 2.4% to $173.22 after Wells Fargo downgraded the stock from Equal-Weight to Underweight and lowered its price target from $200 to $125.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/24/03/37657561/nvidia-to-rally-around-20-here-are-10-top-analyst-forecasts-for-wednesday"> NVIDIA To Rally Around 20%? Here Are 10 Top Analyst Forecasts For Wednesday </a>

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Dollar Tree Reports Weak Earnings, Joins Tesla, Arcos Dorados And Other Big Stocks Moving Lower On Wednesday

Press Releases

Arcos Dorados Holdings Inc. Third Quarter 2024 Results Webcast Date and Time

Arcos Dorados Reports Third Quarter Financial Results

Arcos Dorados and McDonald's Renew Master Franchise Agreement for 20 Years

Arcos Dorados Announces Commencement of Cash Tender Offer for Any and All of Its Outstanding 5.875% Notes Due 2027 (CUSIP NOS. 03965U AC4 / G0457F AC1; ISINs US03965UAC45 / USG0457FAC17)

Arcos Dorados Announces Proposed Offering of Senior Notes

Arcos Dorados Announces Extension of Cash Tender Offer for Any and All of Its Outstanding 5.875% Notes Due 2027

Arcos Dorados Announces Pricing of Its 6.375% Senior Notes Due 2032

Arcos Dorados Announces Tender Results and Expiration Time of Cash Tender Offer for Any and All of Its Outstanding 5.875% Notes Due 2027 (CUSIP Nos. 03965U AC4 / G0457F AC1)

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