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Newsweek
25 minutes ago
- Newsweek
Bojangles Announces Opening Plans for New York, New Jersey
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Bojangles, the North Carolina-based fast food chain known for its fried chicken and buttermilk biscuits, has unveiled plans to expand its East Coast restaurants. On Wednesday, Bojangles announced the signing of a 20-unit franchise agreement for New York City, adding that construction had begun on a first location in Brooklyn. In addition, plans are in place for more than 50 total locations across the New York metropolitan area over the next 10 years, including 35 units in New Jersey, as part of a major expansion of the Cajun-style restaurant chain. Newsweek has contacted Bojangles via email for further comment on the plans. Why It Matters Bojangles boasts more than 800 restaurants across several U.S. states. The announced expansion represents a strategic push into one of the largest, densest urban American markets and follows the chain's broader growth trend beyond its Southeastern base, where it has operated since 1977. What To Know According to Wednesday's announcement, Bojangles' 20-unit agreement for New York City has been spearheaded by Habib Hashimi and Hashimi Holding Corporation. In its news release, the company described Hashimi as an "experienced restaurant owner and operator" and "a natural fit to lead the brand's emergence into the New York market." According to Hashimi's LinkedIn page, he previously operated Dairy Queen and Popeyes locations. Construction is already underway on the first site, slated to open in East Flatbush, Brooklyn, this winter. A Bojangles restaurant in Charlotte, North Carolina, on June 19, 2022. A Bojangles restaurant in Charlotte, North Carolina, on June 19, 2022. Getty Images "As Bojangles enters New York City, the real estate opportunity, from high foot traffic to dense urban neighborhoods, is ideal for introducing the brand's Southern flavors to an entirely new audience," the company said. "That's great NYC is in for some seriously good chicken and biscuits," one X user wrote in response to an article about the announcement. The news marks Bojangles' return to New York City, where it had a short-lived presence in the early 1980s. The company also said the 35-restaurant development agreement signed for New Jersey underscored "Bojangles' larger mission to grow in key metropolitan markets." What People Are Saying Habib Hashimi of Hashimi Holding Corporation said in a news release: "Bojangles has always stood out to me—from its delicious chicken, biscuits and breakfast to its incredible franchisee support system. I couldn't be more proud to lead Bojangles' growth in New York City. Our team has extensive experience running quick-service concepts across New York and Connecticut, and I'm confident residents will fall in love with the Southern flavors, hospitality and convenience Bojangles has to offer." Bojangles CEO Jose Armario said in the news release: "It's a monumental moment, now that we're entering the New York Metropolitan area again. The East Coast is craving the authentic, Southern charm that Bojangles delivers, and we're excited to introduce locals to something new. The franchise groups behind this expansion are the exact partners we want to grow with—they bring the industry know-how, operational experience and leadership needed to grow Bojangles in a bustling market like New York." What Happens Next Bojangles has a number of similar development agreements in the pipeline, which Restaurant Dive calculated in 2023 could eventually push its total store count to over 1,000.
Newsweek
28 minutes ago
- Newsweek
Construction Soars Up on World's Tallest Building: 'Unprecedented Heights'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The world's tallest building—the Jeddah Tower in Saudi Arabia—is expected to be completed by August 2028, with construction having been "ramped up," the architectural firm behind it told Newsweek. Designed by American architect Adrian Smith, who cofounded the Chicago-based firm Adrian Smith + Gordon Gill Architecture (AS+GG), the Jeddah Tower will reach "unprecedented heights," its developers describe. Soaring at over 3,280 feet high, upon completion it will surpass the current world's tallest building, the Burj Khalifa in Dubai, which was also designed by Smith. Located in the northern part of Obhur, a bay located just north of the city of Jeddah, the new skyscraper will be at least 568 feet taller than the Burj Khalifa and form the centerpiece of the $20 billion Jeddah Economic City development, formerly known as the Kingdom City. A view of the Jeddah Tower under construction in July 2025 (left); a rendering of the exterior of the tower (right). A view of the Jeddah Tower under construction in July 2025 (left); a rendering of the exterior of the tower (right). Adrian Smith + Gordon Gill Architecture AS+GG, Sharing an image of the tower under construction captured by architect Robert Forest, a partner at AS+GG, during a site visit in July, a spokesperson for the firm told Newsweek, "The construction schedule reflects August of 2028 completion," adding that "the tower has been constructed to Core Level 69, which will be reached this week." "The wings follow about five to 10 floors behind," the firm said, adding that "50 percent of the concrete has been placed." The mixed-use building will feature a luxury hotel, office space, apartments and condominiums, as well as a sky terrace at its 157th level, which will be the world's highest observatory. Forest told Newsweek: "Construction activities have ramped up, and the atmosphere on site is robust. The entire team is committed and focused on realizing this iconic structure for the Kingdom of Saudi Arabia." A rendering of showing the tip of the Jeddah Tower. A rendering of showing the tip of the Jeddah Tower. Adrian Smith + Gordon Gill Architecture AS+GG, The design of the tower was inspired by a "vision to establish a striking form while keeping the structure simple," architect Gordon Gill, a partner at AS+GG, told Newsweek. "As it developed, the overall ethos of 'new growth' for KSA [Kingdom of Saudi Arabia] was defined by the symbolic palm fronds. Today, the building is very consistent with the palm-frond concept." Its exterior design "evokes a bundle of leaves shooting up from the ground—a burst of new life," while the tower's sleek, streamlined form references "the folded fronds of young desert plant growth," the firm describes on its website. The building's "high-performance exterior wall system" aims to minimize energy consumption by reducing thermal loads. The tower's three sides will have a series of notches that create pockets of shadow to shield parts of the building from the sun and provide outdoor terraces with views of Jeddah and the Red Sea, the firm adds. Renderings of the base of the Jeddah Tower (left) and its observation desk (right). Renderings of the base of the Jeddah Tower (left) and its observation desk (right). Adrian Smith + Gordon Gill Architecture AS+GG, The tower will also feature "one of the world's most-sophisticated elevator systems," consisting of 59 elevators, including 54 single-deck and five double-deck elevators, along with 12 escalators. "Elevators serving the observatory will travel at a rate of 10 meters [33 feet] per second in both directions," the firm says. Construction of this new supertall skyscraper, which refers to buildings that are 300 meters (around 984 feet) or higher, first began around 2013 before it was plagued by delays and halted for years due to the onset of the COVID-19 pandemic. Construction officially began again in January this year. Gill said: "No changes have occurred since the restart. The masterplan is proceeding, and the development of a new bridge over the creek will link the project directly to the Jeddah city core." While the firm told Newsweek that the estimated current total cost of the Jeddah Tower is "confidential," the tower is expected to cost $1.2 billion to construct, according to the firm's website. A view of the base of the Jeddah Tower, located in the northern part of Obhur, a bay located just north of the city of Jeddah. A view of the base of the Jeddah Tower, located in the northern part of Obhur, a bay located just north of the city of Jeddah. Adrian Smith + Gordon Gill Architecture AS+GG, Do you have an architecture, design or travel-related story to share? Let us know via life@ and your story could be featured on Newsweek.
CNBC
28 minutes ago
- CNBC
Our top 3 gainers and laggards over the past month as the S&P 500 hits record highs
The stock market has been on a tear over the past month, as Wall Street mulled over quarterly earnings reports, President Donald Trump 's tariff moves, and the Federal Reserve's next monetary policy decision. Since last month's third annual meeting of the CNBC Investing Club, the S & P 500 and Nasdaq hit nine and 14 record closing highs, respectively. Both stock benchmarks hit those milestones again Wednesday. From our July 11 gathering at the New York Stock Exchange to Wednesday's market close, the S & P 500 advanced more than 3.3% and the tech-heavy Nasdaq gained roughly 5.5%. The market lost some ground Thursday morning after the July producer price index came in hotter than expected. That PPI followed Tuesday's rather benign July consumer price index , which boosted stocks and raised expectations for a Federal Reserve interest rate cut during its September meeting. Despite the hot PPI, a rate cut next month still remains pretty much a lock, according to the CME FedWatch tool . The odds, however, did dim slightly on the prospect of two more rate reduction before the end of 2025. The big questions for investors and the Fed have been whether Trump's tariffs will rekindle worrisome inflation and hurt the labor market. After all, fostering price stability and maximum employment are the pillars of the central bank's dual mandate. Back on Aug. 1, the government's jobs report was released and showed some signs of cracks as July non-farm payroll growth was much weaker than expected, and the additions taken together from the prior two months were revised sharply lower. Over the past month, we picked our spots in over a dozen trades — both taking profits and adding to positions. The Club started a new position in Cisco Systems on July 17 and made two subsequent buys of the computer networking equipment powerhouse's shares. Cisco reported its fiscal 2025 fourth quarter after Wednesday's close, beating estimates on both the top and bottom lines with a slightly better-than-expected guidance kicker. We're going to talk more about Cisco and the Club's other 30 positions during Thursday's monthly meeting, which will be livestreamed at noon ET. The recorded video will be available to members later in the afternoon. The reaction to earnings reports was behind the portfolio's best and worst-performing names over the past month. GE Vernova , for example, can thank its blowout earnings release for sending the industrial stock to No. 1. Conversely, the biggest laggard was Eli Lilly, which had its worst session in years following disappointing results for a key late-stage trial. Here's a breakdown of our three best and three worst-performing stocks over the past month ahead of Thursday's August monthly meeting. Winners GE Vernova up 17.6% GEV YTD mountain GE Vernova (GEV) year-to-date performance Shares surged after the power equipment maker posted a strong quarter and raised guidance last month. GE Vernova makes products to support the energy grid, which needs more juice to support all the AI data centers being built. The stock hit a record high that session, and several more since the July 23 earnings release. Jim Cramer described the industrial name as "maybe the best story in the entire market" as a result. The Club raised its GE Vernova price target by $150 to $700 per share due to the company's growing backlog and strong demand. Still, we reiterated our 2 rating, which means we would want to wait for a pullback before adding to our position. On July 17, the Club booked some profits in a small sale of GE Vernova just in case ahead of the Street's lofty quarterly expectations. Broadcom up 12.7% AVGO YTD mountain Broadcom (AVGO) year-to-date performance Broadcom led the recent rally in chip stocks. Nvidia was our fourth-best performer since July's annual meeting. The group, in part, received a boost after Trump said he would exempt companies from his planned semiconductor tariffs if they committed to invest in U.S. manufacturing. News such as Samsung's $16.5 billion deal to supply semiconductors to Tesla improved investor sentiment around the AI trade as well recently. We did, however, sell some Broadcom last week after the stock's big run and ahead of its quarterly earnings report. The trim doesn't reflect a change in our conviction. Instead, we're anticipating some profit-taking after Broadcom's quarterly report on Sept. 6, and we wanted to get ahead of that. That's been a trend amongst its peers, at least. Advanced Micro Devices shares dropped 7% in a session following its earnings report last week despite management issuing upbeat guidance. Apple up 10.5% AAPL YTD mountain Apple (AAPL) year-to-date performance Rounding out our top three performers was Apple. Shares of the iPhone maker saw an initial boost following quarterly earnings report in late July. Investors cheered Apple's biggest revenue growth since 2021, and CEO Tim Cook's remarks about more generative AI investments. But the bulk of Apple's gains came last week. Apple announced an additional $100 billion investment into domestic manufacturing, bringing the company's total U.S. investment to $600 billion over the next four years. The news showcased Cook's ability to get on a better footing with the Trump administration to mitigate tariff headwinds. Laggards Eli Lilly down 16.7% LLY YTD mountain Eli Lilly (LLY) year-to-date performance The drugmaker has had a rough month. Eli Lilly stock initially moved lower in late July after rival Novo Nordisk, the company's main competitor in GLP-1s, lowered its 2025 sales growth outlook. The Club made a sale of Eli Lilly as a result, locking in big profits. The bulk of Lilly's losses, however, came in early August. Alongside its earnings release on Aug. 7, the company revealed subpar results from a late-stage trial on its weight loss pill. The stock, in turn, had its worst session in years. As a result, we lowered our Eli Lilly price target to $800 from $1,000 and downgraded the stock to our 3 rating. That view shifted Wednesday, with our double upgrade back to our buy-equivalent 1 rating after CEO David Ricks and several other company insiders bought lots of shares of the depressed stock. CrowdStrike down 9.7% CRWD YTD mountain CrowdStrike (CRWD) year-to-date performance Shares have experienced a consistent decline amid broader weakness in the cybersecurity sector. CrowdStrike stock, for example, shed 5% in a single session earlier this month following negative commentary from peer Fortinet's management team regarding the highly anticipated firewall refresh cycle. That didn't make sense to us because CrowdStrike is cloud-native and doesn't sell traditional firewall equipment. The negative sentiment spread to fellow Club holding Palo Alto Networks , too, as shares fell despite management never hyping up the refresh cycle. That's because sometimes when a stock in a certain sector plunges, it can bring down its peers, even if the others have nothing to do with the reason why it's down. Palo Alto stock has recently been digging itself out of the big hole left following the July 29 rumors of a CyberArk deal and the official announcement by the company a day later. Salesforce down 8.2% CRM YTD mountain Salesforce (CRM) year-to-date performance Shares have slumped with the rest of the enterprise software names. Part of the stock's weakness can be attributed to investor concerns about generative AI's impact on software-as-a-service (SaaS) companies like Salesforce. The emerging technology poses a risk to Salesforce's seat-based licensing models and, in turn, its sales growth. This week's "AI ate software" note from Melius Research outlined these worries, prompting us on Monday to downgrade Salesforce to a hold-equivalent 2 rating. Still, we're holding on to see if Salesforce's Agentforce, its set of AI tools, will help the stock in the long run. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
