TOMS Capital Pushes For Kenvue Sale, Separation
The New York-based hedge fund is urging Kenvue to consider a full sale or separation of some assets, according to people with knowledge of the matter, who asked not to be identified discussing confidential information. The size of TOMS' stake couldn't immediately be learned.
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an hour ago
- Yahoo
Shake Shack Inc. (SHAK) Is Struggling Due To Inflation, Says Jim Cramer
We recently published . Shake Shack Inc. (NYSE:SHAK) is one of the stocks Jim Cramer recently discussed. Shake Shack Inc. (NYSE:SHAK) is a fast food chain whose shares struggled after the firm's latest earnings report. The stock price was 20.6% lower after the firm's second-quarter earnings. Shake Shack Inc. (NYSE:SHAK) suffered, as despite beating analyst EPS and revenue estimates, the firm guided lower-than-expected same-store sales. Cramer discussed the Shake Shack Inc. (NYSE:SHAK) earnings and what drove the stock lower: 'Well that's why I say that, J Powell does have to cut. There's too many conference calls that really do say, look, our business is really being hurt now. People are just not able to afford the nine dollar burger, I had Shake Shack on the other night, they're advertising deals for the first time, why? Because they got to come down in price. Everybody has to come down in price and that's going to hurt eventually to those who want to pass down the tariffs.' Here are Cramer's earlier thoughts about Shake Shack Inc. (NYSE:SHAK): 'During earnings season, when a stock comes in maybe too hot, even a good quarter might not be enough to prevent it from pulling back. Take Shake Shack, iconic burger chain. Last Thursday morning, the company reported a pretty clean top and bottom line beat with its highest restaurant level margins in six years, which is what I care about. Yet some people thought there was a fly in the ointment. Shake's same-store sales grew at just 1.8%. Analysts were looking for 2.2%. Give me a break. While we acknowledge the potential of SHAK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
New York Post
3 hours ago
- New York Post
Tipping in Las Vegas drops drastically — tourists say service doesn't match higher costs
Las Vegas servers say they're feeling the heat as high prices and declining tourism hammer their tip earnings across the Strip. Tipping in Sin City is reportedly down by as much as 50% among servers, as some of them blame the economy and policy while others point to high prices, a tipping backlash and poor service. Advertisement On Reddit's r/VegasLocals forum, one cocktail waitress wrote, 'I used to average about 80 cents a drink. Now I'm averaging about 10 cents.' 'We are working triple what we used to and making a quarter of what we did,' another person added on the forum. Jacob Soto, 22, a supervisor at Pinkbox Doughnuts in downtown Las Vegas, told The Wall Street Journal that he used to make up to $200 a week in credit card tips, but now only earns between $100 and $150. While the city saw an 11.3% drop in overall visitation in June compared to the same time last year, according to the Las Vegas Convention and Visitors Authority (LVCVA), international travel to Vegas is down approximately 10% year over year. Advertisement Ted Pappageorge, secretary-treasurer of the Culinary Workers Union, which represents 60,000 Vegas workers, said federal immigration and economic policies are keeping international travelers away. Servers in Las Vegas, Nevada, say they are not earning as much in tips due to rising prices and declining tourism to Sin City. MargJohnsonVA – 'The unions and the industry and the government need to get together and repair the damage and welcome tourism back,' he told Fox News Digital. Pappageorge called the tipped income tax exemption proposed in President Donald Trump's 'big, beautiful bill' a 'welcome relief.' Advertisement He pointed out, however, that if workers aren't 'making the tips, the credit doesn't help.' He said companies have already frozen hiring and made targeted staffing cuts, with part-time workers – who make up 25% of the union's membership – being the first to lose hours. 'If it continues, it could bleed into the full-timers,' he added. Some industry observers assert the problem is more local. Advertisement 'Many attribute this not only to a general dip in international travel demand to the U.S., but also to aggressive price-gouging by hospitality venues,' Rob DelliBovi, a consultant and founder of the Miami-based RDB Hospitality Group, told Fox News Digital. 'Guests are pushing back on $18 bottles of water in the minibar and $37 martinis.' Many people in the r/VegasLocals thread agree. Said one Redditor, 'Twenty-five-dollar drinks … $30 pancakes, $35 burgers … and on top of it you have to tip?' Tipping has gone down by as much as 50% as servers claim the economy and poor service are to blame for the dramatic dropoff. StockPhotoAstur – Added another person, 'Nobody wants to give you 20% on top of the already exorbitantly overpriced s—.' A beer recently cost nearly $15 at a casino, yet another person said. 'What that translates to is me drinking less beer and tipping less,' the person said. Advertisement 'I understand that casinos have costs, but this is absurd.' 'I'm tired of tipping for everything, as quality of service has consistently gone down,' another person wrote. One Vegas waitress, who requested anonymity out of fear of losing her job, also said she thinks the quality of service has declined. Advertisement 'For the price, it should be impeccable,' she told Fox News Digital. She said aggressive upselling tactics, repetitive restaurant concepts and a lack of genuine hospitality are turning off tourists and locals alike. As a result, she said she's also seen tip revenue decrease by half compared to last summer. The waitress said businesses on the Strip need to return to the basics of hospitality and focus on local clientele rather than only international customers. Advertisement 'The locals don't want to pay double for food that's not any better and for servers to be rude,' she said. Despite the downturn, Vegas has not lost its hustle yet, DelliBovi said. 'Sales teams in Las Vegas are already strategizing on how to reinvigorate the market and drive business back up for the fall,' he said. Advertisement Even as reports indicate Las Vegas tourism is down overall, Circa Resort & Casino CEO Derek Stevens recently told Fox News Digital the assessment may be 'premature.' 'In specific pockets, like where we at Circa Las Vegas are located in downtown — I think people feel there's maybe a little better value. Things were really booming,' Stevens said. He added, 'If you really start unpeeling some layers of the onion in Las Vegas, I think you're going to find companies that have very specific areas that are a little less subject to the economy and that are doing OK.'
Yahoo
3 hours ago
- Yahoo
Another way Sauce Gardner's extension makes Jets, NFL history
The New York Jets signed cornerback Sauce Gardner to a record-breaking extension earlier this week. The two-time First-Team All-Pro defender inked a four-year extension worth $120.4 million. Gardner will earn a league-leading $30.1 million per season (on average) throughout the duration of the extension. Gardner's contract slightly surpasses that of Houston Texans cornerback Derek Stingley Jr., who signed a three-year, $90M extension in March ($30M average). The precedent for Gardner's negotiation was set then. His extension made NFL history in a variety of ways. NFL contract extensions nowadays are often determined by percentage of salary cap. If a top-tier player at his position accounts for 10 percent of the salary cap in 2024, then the next top-tier player at that same position will want a contract that takes up a similar percentage of an increasing salary cap in 2025, for example. Gardner's extension will take up an average of 10.78% of the Jets' salary cap. That is the highest for a cornerback since Darrelle Revis in 2014, according to Daniel Salib. It's another way Gardner's extension made Jets and NFL history earlier this week. AS ESPNs Benjamin Solak notes in the tweet Salib quoted, in just six years, Gardner's average annual salary doubled what Xavien Howard earned as the highest-paid CB ($15.1m APY) in the league in 2019. The cornerback market has absolutely exploded over the previous five seasons. Players like Gardner are pushing the envelope forward. This article originally appeared on Jets Wire: Sauce Gardner's extension made Jets history in more ways than one
