Morning Brief: Trump tax-return battle begins
Thursday, February 7, 2019
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WHAT TO WATCH
Two big names in the food industry are gearing up to report financial results ahead of the opening bell, Dunkin Brands (DNKN) and Yum Brands (YUM). Dunkin is expected to report earnings of 61 cents per share on $329.88 million in revenue. Same-store sales are anticipated to have grown 2.9%. And analysts are forecasting Yum to report earnings of 97 per share on $1.59 billion in revenue. Same-store sales are estimated to have grown at a 2.5% over the quarter.
TOP NEWS
Trump tax-return battle begins: House Democrats are facing off with Republicans for a battle that could turn intensely personal for Donald Trump and risks a backlash against the chamber’s new majority — how to get their hands on the president’s tax returns. [Bloomberg]
Chipotle sales beat expectations, shares soar: Chipotle (CMG) reported better than expected fourth-quarter earnings after the bell on Wednesday. Same-store sales, which is the key metric to watch, were up 6.1%, the highest in six quarters. Analysts were expecting 4.49% growth, according to analysts polled by Refinitiv. Shares climbed higher than 10% on the news. [Yahoo Finance]
Exclusive: Canopy Growth to invest up to $500 million in hemp in U.S. states: After announcing an initial investment in hemp production in New York state, Canopy Growth (CGC) CEO Bruce Linton reveals to Yahoo Finance plans to increase that total to $500 million across Rhode Island and other U.S. states. [Yahoo Finance]
Consumer watchdog loosens Obama-era guardrails on payday lending.:The Trump administration plans on loosening the regulatory red tape on the payday loan industry, the controversial business that helps millions of Americans make temporary ends meet at the risk of getting trapped in costly debt spirals. [Yahoo Finance]
GoPro tops revenue estimates: GoPro Inc. reported its first profit in five quarters on Wednesday and topped Wall Street estimates for revenue, as it cut costs and saw strong demand for the latest action cameras from its flagship HERO line. [Reuters]
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