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Oracle Corp’s (NYSE: ORCL)...

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15%...

RTX Corp (NYSE: RTX)...

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03...

GameStop Corp. (NYSE:GME) Quarter...

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after...

Advanced Micro Devices (NASDAQ:AMD)...

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading...
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Restaurant Giants; McDonald’s (MCD) Profit Soars On Dine-In Demand As Starbucks Corporation (SBUX) Is Changing Its Loyalty Program

McDonald’s (NYSE: MCD) plunged over 2.56% to  $263.95 in pre session on Tuesday as more customers dined at its eateries, India-based franchisee Westlife Foodworld Ltd. announced a 74% increase in third-quarter earnings on Tuesday. The business, which has the McDonald’s Corp. licensed in west and south India, recorded a consolidated net profit after tax of 363.5 million rupees ($4.43 million) for the December quarter, up from 208.2 million rupees a year earlier.

Online orders are included in Westlife’s on- and off-premises operations, which saw growth of 42% and 12%, respectively. Analysts claim that the holiday season has witnessed an increase in demand for quick service restaurants (QSR), particularly in the months of October and December.

Westlife’s stock increased by 40% in 2022, and it increased by over 6% on Tuesday. Despite the fact that costs were high and expenses increased by 26% for the quarter, operating margin increased to 23.8%.

To 6.1 billion rupees, total sales for the quarter increased 28%. Due to increased dine-in demand, rival Jubilant Foodworks, which operates the Domino’s Pizza network of restaurants in India, reported a 10% increase in earnings in the preceding quarter. Results for the third quarter will be announced by the corporation on Wednesday.

Investors are keeping an eye out for indications of a recession following record inflation last year when the earnings report is released. If more low-income diners choose McDonald’s instead of more expensive eateries, as they did in the third quarter, the fast food chain might profit.

In the results announcement, Chief Executive Officer Chris Kempczinski stated that the business anticipates “short-term inflationary pressures to remain in 2023.”

According to information from location analytics company Placer.ai, visits to McDonald’s restaurants in the United States increased 26% in the fourth quarter of 2019 compared to the same period in 2018 and by over 30%. In contrast, the overall fourth-quarter sales of fast food decreased by 0.6% from the same period the previous year.

Starbucks Corporation (NASDAQ: SBUX) Is Changing Its Loyalty Program

The coffee chain giant, Starbucks Corporation (NASDAQ: SBUX) is changing its loyalty program, and reports of angry customers abound in the media. Their major point of contention is that, as on February 13, 2023, obtaining a complimentary cup of hot coffee will need twice as many of the program’s reward points, known as stars. There is frequently a big customer backlash when businesses cut back on their incentive programs. In the fall of 2022, Dunkin’ made it more difficult to receive free things through their rewards program, which also caused customer resentment. This was a recent example in the coffee sector.

In December, Starbucks announced modifications to the rules governing its rewards program, affecting the “price” of several of its goods. The price of a cup of ordinary, hot coffee or tea would increase from 50 stars to 100 stars, which attracted the greatest attention.

Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on...

RTX Corp (NYSE: RTX) Updates 2023-2025 Outlook amid Engine Part Challenge

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03 per share, bringing its current trading price to $77.45. The company,...

GameStop Corp. (NYSE:GME) Quarter Report: Resilience amidst Market Turbulence

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after the market closes today. Shares were slightly down in the pre-trading...

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Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on Tuesday as Wall Street's major indices experienced a tumultuous day, driven by Oracle's staggering 12.5%...

Advanced Micro Devices (NASDAQ:AMD) Attempts to Chases Nvidia Corp (NVDA) Valuation by Introducing New AI Chips

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading session as the company recently launched its data center and AI technology event, where it unveiled its long-awaited MI300 processor tailored for AI workloads. Its objective...

Amazon.com (NASDAQ: AMZN) To Face Tough U.K. Antitrust Review on Roomba Acquisition

Shares of Amazon.com, Inc. (NASDAQ: AMZN) inches down in pre trading session on Thursday as the British antitrust officials have begun looking into Amazon's $1.7 billion acquisition of robot vacuum manufacturer iRobot. According to a statement released on Thursday, the...

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