Cava Slips, Coinbase Bounces Back, Applied Materials Shares Fall
On this episode of Stock Movers: Cava (CAVA) fell as much as 5.8% after the fast-casual chain reported first-quarter results and updated its outlook. Analysts say that while Cava’s report was positive relative to peers, the Mediterranean dining establishment needed stronger results to justify its premium valuation. Fast-food chains such as McDonald’s and Wendy’s have also said weaker consumer sentiment hurt results in their latest quarters. Coinbase (COIN) shares bounced back, showing resiliency after a series of negative headlines. Shares of Coinbase are up more than 30%…
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