DoorDash Buys Wonder's Grubhub Campus Dining for $300 Million
DoorDash is acquiring Wonder's Grubhub Campus Dining business for $300 million and investing another $125 million in Wonder's Series D round. The campus business operates at more than 450 colleges and universities, letting students order from campus dining facilities, pay with dining dollars, and schedule pickup, and DoorDash plans to extend the technology beyond campuses into stadiums, hotels and similar venues, with the transaction expected to close in the first half of 2027. The purchase is modest against DoorDash's scale: the company generated $742 million of free cash flow in the second quarter, up from $355 million a year earlier, while adjusted EBITDA reached $914 million, up 40%, on revenue of $4.45 billion and Marketplace GOV of $33.1 billion. Marketplace GOV rose 36% to $33.1 billion in the quarter while orders increased 27% to 970 million, and even excluding Deliveroo, GOV growth was still 23%. Wonder has expanded to 157 locations, more than quadrupling its footprint since early 2025, and plans to enter Texas in 2027, while DoorDash's second-quarter research and development expense rose to $535 million from $351 million a year earlier. DoorDash said the deal is strategically significant but unlikely by itself to materially change consolidated earnings, leaving the investment case dependent on scaling the campus platform into new venues.
Planet Fitness Director Buys 2,328 Shares for Nearly $120,000
Planet Fitness director Christopher Tanco purchased 2,328 shares of the company's Class A common stock for approximately $119,263, according to a recent SEC Form 4 filing. The open-market purchase was executed at a weighted average price of $51.23, with individual trades ranging between $51.22 and $51.23. The transaction, dated Sept. 14, 2026, established a new indirect position through the Maligaya Trust dated 06/06/2024, bringing Tanco's total beneficial ownership to 17,879 shares, including 15,551 shares held directly. Based on the Sept. 16, 2026, market close price of $50.02, the director's total equity holdings are valued at approximately $894,308. Planet Fitness, which operates a capital-light franchising model across the United States, Puerto Rico, Canada, Panama, Mexico, and Australia, has a market capitalization of $4.0 billion and trailing-twelve-month revenue of $1.4 billion.
Viking Q2 Earnings Beat Estimates as Revenue Climbs 16.5%
Viking Holdings reported second-quarter 2026 adjusted earnings of $1.31 per share, up 32.3% from 99 cents a year ago and 4.8% above the Zacks Consensus Estimate of $1.25. Total revenues of $2.19 billion increased 16.5% year over year and beat the consensus mark of $2.13 billion by 3.1%, driven by higher Capacity Passenger Cruise Days and increased revenue per PCD, with Net Yield rising 6.2% to $645. Capacity PCDs increased 10.9% on fleet growth, though occupancy slipped to 94.4% from 95.6%, and Viking carried 249,999 passengers, up from 224,643. Adjusted EBITDA rose 18.2% to $748.43 million and net income climbed to $587.70 million from $439.24 million. For 2026, Viking had sold 96% of Core Products Capacity PCDs as of Aug. 9, 2026, with Advance Bookings of $6.39 billion, 13.0% above the comparable 2025 level, while for 2027 it had sold 53% of Capacity PCDs with Advance Bookings of $4.71 billion, 21.0% higher than the comparable 2026 level. Since the prior earnings release, consensus estimates have shifted down 11.22%, and the stock carries a Zacks Rank #3 (Hold).
Saint Marc Holdings to acquire Tsurutontan business for 12.8 billion yen
Saint Marc Holdings announced it will acquire the udon specialty business Tsurutontan, operated by K Express, for 12.8 billion yen. The company, which runs bakery restaurants and cafes, will take over the udon specialty restaurant business, including brands such as Mensho no Kokorotsukushi Tsurutontan, through an absorption-type company split, covering 14 directly operated domestic stores, 2 overseas franchise stores, and noodle manufacturing and gift product sales. The inherited division posted sales of 6.135 billion yen for the fiscal year ending March 2026. The announcement came after the market close on the 17th, and Saint Marc Holdings, seen as a buy candidate, rebounded for the first time in three days, rising 117 yen from the previous day to 2,593 yen. Its closing price on the 18th was 2,535 yen, up 59 yen from the previous day.
McDonald's Declares $1.93 Quarterly Dividend, Marking 50 Straight Years of Increases
McDonald's declared a quarterly dividend of $1.93 per share, in line with its previous payout, as the company marked 50 consecutive years of dividend increases. The dividend carries a forward yield of 3.11%. It is payable Dec. 15 to shareholders of record as of Dec. 1, with the ex-dividend date also set for Dec. 1.
Oriental Land Offers September-Only Special Shareholder Perk for 30th Listing Anniversary: One Passport for 100 Shares
Oriental Land will offer a special shareholder benefit limited to September 2026 to mark the 30th anniversary of its listing. While the regular shareholder benefit requires holding at least 500 shares, this special perk applies to all shareholders holding 100 shares or more regardless of how long they have held them, and grants one shareholder passport usable at Tokyo Disneyland or Tokyo DisneySea. The last date with rights is September 28, 2026, and shareholders who carry their holdings through to the next business day, September 29, become eligible. The passports will be mailed in December 2026, and their validity runs only through the end of August 2027, shorter than usual. The share price has rebounded since around June 2026, closing at 3,068 yen on September 17, up 5.8 percent year to date, and up 45.9 percent from its year-to-date low of 2,103 yen. In the first quarter of the current fiscal year, revenue rose 10.4 percent and operating profit rose 23.1 percent, the highest for that quarter on record, helped by strong performance from the Tokyo DisneySea 25th anniversary event.
Trip.com Q2 Revenue Rises 6% as Mobile Bookings Top 70%
Trip.com Group reported better-than-expected second-quarter results, with net revenue rising 6% year over year to 15.7 billion Chinese yuan. Adjusted earnings per ordinary share and ADS came in at 7.27 Chinese yuan, up from 7.20 Chinese yuan a year earlier, while adjusted EPS of $1.07 beat the analyst estimate of $0.91 and revenue of $2.308 billion topped the $2.290 billion estimate. Accommodation reservation revenue rose 6% year over year to 6.6 billion Chinese yuan, or 8% excluding a contra-revenue item tied to an administrative penalty from China's State Administration for Market Regulation, while package tour revenue climbed 8% to 1.2 billion Chinese yuan and corporate travel revenue increased 11% to 771 million Chinese yuan. Transportation ticketing revenue fell 1% to 5.4 billion Chinese yuan on softer demand, higher fuel prices, geopolitical tensions and industry compliance adjustments. Trip.com said more than 70% of its total bookings now come from mobile, a new high for the platform, and that revenue from its international online travel agency platform jumped more than 50% year over year, with first- and business-class flight bookings up more than 70% in the first half of 2026 and AI-assisted orders through TripGenie up about 400%.
KGI highlights AWC and CENTEL as tourism recovery plays for the second half
The analyst team at KGI Securities (Thailand) says it holds an increasingly positive view on the outlook for Thailand's tourism sector, citing a recovering trend in foreign tourist arrivals, rising flight capacity, and still-resilient domestic tourism, all of which should support the operating results of hotel operators in the second half of 2026. Foreign tourist arrivals from January 1 to September 12, 2026 stood at 21.72 million, down 3.4% from the same period a year earlier. Meanwhile, the Tourism Authority of Thailand expects the number of Chinese tourists during the travel season and the long Golden Week holiday to rise 24% from the same period last year to about 250,000. The research team expects RevPAR to accelerate in the third quarter of 2026, turning back to positive growth after a 10% decline in the second quarter of 2026, and forecasts that RevPAR for hotels in Thailand will grow at rates ranging from single digits up to about 20% compared with the same period a year earlier. Among hotel stocks, Asset World Corp, or AWC, is expected to be one of the leaders of the recovery, with RevPAR forecast to grow 24% from the same period a year earlier, while Central Plaza Hotel, or CENTEL, is expected to post mid-teens RevPAR growth, and The Erawan Group, or ERW, is expected to grow at a single-digit rate. The research team maintains an overweight stance on the hotel sector, naming AWC with a target price of 3.60 baht and CENTEL with a target price of 49.00 baht as its top picks, while keeping a buy rating on ERW with a target price of 4.30 baht, MINT with a target price of 30.00 baht, and SHR with a target price of 1.90 baht.
SHR closes full 1.7 billion baht bond sale with 4.50% annual coupon
S Hotels and Resorts Public Company Limited, or SHR, a subsidiary of Singha Estate, announced that it has fully closed the offering of its bonds totaling 1.7 billion baht, meeting its target in full. This bond series has a tenor of 2 years and 9 months with a fixed interest rate of 4.50% per annum. It was offered to the general public between 14 and 16 September 2026 and received a very good response from investors. Mr. Michael Marshall, Chief Executive Officer of SHR, said this response reflects confidence in the company's business fundamentals and growth potential, and he thanked its five financial partners: Krungthai Bank, Kasikornbank, Asia Plus Securities, Krungthai XSpring Securities, and Land and Houses Securities. The proceeds from the bond issuance will be used to repay maturing bonds and to invest in projects to renovate and upgrade hotel assets. This bond series has been assigned a credit rating of BBB-, which is at investment grade, by TRIS Rating Company Limited.
Sante Cableway fined 10.5 million yuan for disclosure violations; former actual controller Ai Luming banned from securities market for life
Sante Cableway announced after market close on September 18 that the company and five responsible persons, including former actual controller Ai Luming, had received an administrative penalty decision from the Hubei Securities Regulatory Bureau. For failing to promptly disclose non-operating fund occupation by related parties and for material omissions in its 2019 and 2020 annual reports, the company was given a warning and fined a total of 10.5 million yuan. Ai Luming was fined a total of 11 million yuan and banned from the securities market for life, while the other four responsible persons were fined a combined 11.4 million yuan. The investigation found that Dangdai Group is the indirect controlling shareholder of Sante Cableway. Since 2019, due to Dangdai Group's funding needs, Sante Cableway transferred funds to designated recipients and ultimately to Dangdai Group and its related and cooperative parties, creating non-operating fund occupation by related parties. Of this, the amount not disclosed in a timely manner from August to December 2020 was 340 million yuan, accounting for 31.89 percent of the most recent audited net assets. In 2021, the amount not disclosed in a timely manner reached 1.904 billion yuan, accounting for 131.67 percent, and in January 2022 the amount was 500 million yuan, accounting for 34.58 percent. Regarding annual reports, in 2019 Sante Cableway had non-operating fund occupation with Dangdai Group of 1.423 billion yuan, accounting for 133.49 percent of the net assets recorded in that year's annual report, and in 2020 the amount was 370 million yuan, accounting for 25.59 percent. The company failed to disclose these matters in its 2019 and 2020 annual reports, resulting in material omissions in both reports. The Hubei Securities Regulatory Bureau determined that Ai Luming repeatedly asked the company to provide financial support to Dangdai Group from 2020 to 2022, and that he instigated the company's information disclosure violations. His conduct was egregious, the violations were serious, and he had previously been subject to a securities market ban. Among the other responsible persons, then chairman Lu Sheng was warned and fined 3 million yuan, then chairman and president Zhang Quan was warned and fined 4.1 million yuan, then director and president Wang Lili was warned and fined 2.1 million yuan, and then chief accountant Zhang Yunyun was warned and fined 2.2 million yuan. The fund occupation was not disclosed in relevant announcements until April 30, 2022, and by April 2022 the company had fully recovered the occupied funds and interest from Dangdai Group. Sante Cableway said the company has not triggered mandatory delisting for major violations, nor has it triggered other risk warning conditions. It has already made provision for the fine, and its production and operating activities are currently normal.
Trip.Biz Launches Agent ONE AI Suite for Business Travel
Trip.Biz, the business travel brand of Trip.com Group, launched Agent ONE, a suite of four connected AI agents for the end-to-end business travel lifecycle, at its Transform 2026 summit in Singapore. The four agents are a Planning Agent, a Booking Agent, an Approval Agent and an Insight Agent. Trip.Biz said early performance targets show average booking time dropping from around 45 minutes to 2 minutes, a 90% efficiency improvement, while approval wait times fall from over an hour to under 3 seconds and a full travel analysis report is generated in under 7 minutes, a task that previously took analysts up to a week. CEO Tao Song positioned Agent ONE as a purpose-built AI solution rather than an incremental product update, and the company said the tool is now available globally across all Trip.Biz-supported markets. Trip.Biz also cited a 90% SLA compliance rate and an 80%+ satisfaction score across the region it serves.
Carnival Fair Value Trimmed to US$34.83 as Analysts Weigh Demand Against Yield Risks
Carnival's fair value estimate has been revised slightly lower from US$35.60 to US$34.83 in the latest long-term model. The updated assumptions include revenue growth adjusted from 3.76% to 3.83%, a net profit margin moved from 13.13% to 13.07%, a future P/E reduced from 18.47x to 18.27x, and a discount rate changed from 10.19% to 10.48%. Analyst commentary remains mixed, with Goldman Sachs, BofA, Argus, Wells Fargo and Tigress Financial holding positive or overweight views even after trimming price targets, while Deutsche Bank and BMO Capital flag a lack of clear near-term catalysts. Goldman Sachs, Barclays and Bernstein focus on risks around fuel and yields, noting that current oil prices, Caribbean and European pricing pressure and reduced 2026 net yield guidance may limit upside and leave outer-year estimates, including 2027, at risk of adjustment. Truist raised its target to US$31, citing lower assumptions for fuel and depreciation, while Wells Fargo and Susquehanna described European and Caribbean deployment pressure as manageable and Carnival's 2027 bookings as healthy on price and occupancy.
McDonald's Raises Quarterly Dividend 4% to $1.93, Marking 50 Straight Years of Increases
McDonald's Board of Directors declared a quarterly cash dividend of $1.93 per share, a 4% increase over the previous quarterly payout, marking the company's 50th consecutive year of dividend increases. The dividend is payable on December 15, 2026 to shareholders of record at the close of business on December 1, 2026, and the new quarterly dividend of $1.93 per share is equivalent to $7.72 annually. With this increase, McDonald's joins the ranks of the "Dividend Kings," an elite group of fewer than 60 U.S. public companies that have raised their annual dividend for at least 50 consecutive years. Executive Vice President and Global Chief Financial Officer Ian Borden said the milestone reflects a decades-long commitment to financial discipline and rewarding shareholders, as well as the work of crew members, owner-operators and suppliers. The company said it will provide further details on its next phase of growth at its 2026 Investor Day on September 23, 2026.
McDonald's Plans Value Strategy Overhaul After Weak US Sales
McDonald's Corp. is developing a new value strategy with franchisees after posting its weakest US sales growth in over a year, according to Bloomberg. The company will create a longer-term approach for value-conscious customers in the coming weeks and is preparing a short-term plan featuring temporary items and digital offers based on current popular products, the fast-food giant reportedly said in a message to operators. The shift marks the first major move under new US head Skye Anderson and arrives ahead of the company's investor day next week. Sales at established US restaurants grew 0.8% last quarter, the weakest performance since early 2025, and the stock is down roughly 17% year-to-date. CEO Chris Kempczinski said on the Aug. 4 earnings call that many franchisees did not follow corporate pricing recommendations, which hurt results, after the company benefited in 2024 from $5 meal deals and earlier this year expanded value offerings with at least 10 items under $3.
MAGURO Celebrates 5 Years of SSAMTHING TOGETHER, Brings in South Korean Michelin Chef to Serve 3 Special Menus Across 5 Branches
MAGURO Group Public Company Limited, or MAGURO, has unveiled 3 special menus celebrating the 5th anniversary of SSAMTHING TOGETHER, the Korean barbecue restaurant in its portfolio, in collaboration with Chef Bang Kisu, a South Korean chef with a Michelin pedigree from the show Culinary Class Wars and former head chef of Bicena, a fine dining Korean restaurant that holds 1 Michelin Star. Chakrit Saisomboon, Chief Executive Officer, said the 3 special menus, namely GUJEOLPAN, SHREK PORK GALBI and SPICY JJUKKUMI Bulgogi, will go on sale at all 5 SSAMTHING TOGETHER branches, namely Mega Bangna, Central Rama 2, Central Westgate, Samyan Mitrtown and Robinson Ratchaphruek, from October 2026 onwards, in the form of a seasonal menu. The company stated that this collaboration with a Michelin chef is an important step in elevating the dining experience and reinforces its plan to expand its premium restaurant empire while building SSAMTHING TOGETHER into a flagship brand.
McDonald's CEO Cites Execution Failure as K-Shape Economy Hits Traffic
McDonald's CEO Chris Kempczinski told investors the company has no strategy problem but simply did not execute at the level needed in the second quarter, as the stock closed at $248.51, down 1.69% on the session and 17.1% lower year to date at a two-year low. U.S. comparable sales grew just 0.8% in the second quarter and U.S. guest counts turned negative, while global comps decelerated to 1.3% from 3.8% a year earlier. Kempczinski said execution issues explain only about two-thirds of the traffic miss, with the rest tied to a lower-income customer base squeezed in what trader Guy Adami called the K-shape economy, where some consumers struggle while others do very well. McDonald's launched an under-$3 everyday affordable price menu and a $4 breakfast meal deal, yet SG&A still jumped 17%, and the 10-year Treasury yield hit 5.00% on September 15, undercutting the appeal of the stock's 2.91% dividend. Fiscal 2027 EPS has drawn 26 downward analyst revisions against 3 upward in the trailing 30 days, moving the average from $14.22 to $13.98, while the company earns a 46.1% operating margin and a 31.9% net margin and opened 1,915 net restaurants over the past year.
McDonald's One Dividend Increase Away From Dividend King Status
McDonald's is one dividend increase away from becoming a Dividend King, holding 49 consecutive annual increases through 2025, while fellow Aristocrats Sherwin-Williams and Air Products & Chemicals remain several years short of the 50-year mark. McDonald's pays a quarterly dividend of $1.86 per share, an annualized $7.44, after raising the rate from $1.77 in 2025, and the next declared raise, expected around the traditional fall board meeting cadence, would secure Kinghood. The company reported Q2 2026 adjusted EPS of $3.38, beating the $3.32 estimate, on revenue of $7.10 billion, with a 31.9% net margin, 46.1% operating margin, and $858 million in Q2 buybacks, though US comparable sales grew just 0.8% and CFO Ian Borden said US comps were slightly negative in July. Sherwin-Williams pays $0.80 quarterly, an annualized $3.20, and raised full-year adjusted EPS guidance to $11.80 to $12.20 after Q2 adjusted EPS of $3.70 beat $3.52 on revenue of $6.79 billion, but management flagged continued demand softness in the second half of 2026. Air Products pays $1.81 quarterly, an annualized $7.24, and raised FY26 adjusted EPS guidance to $13.39 to $13.49 after adjusted fiscal Q3 2026 EPS of $3.47 beat $3.34, though GAAP results showed a loss per share of $6.47 on $2.90 billion in pre-tax project exit charges tied to the Louisiana Clean Energy Complex exit, cutting cash and equivalents 57.8% year over year to $980.5 million.
Dutch Bros Trades at 38.45X Forward P/E as 2026 Guidance Raised
Dutch Bros Inc. raised its 2026 revenue and adjusted EBITDA outlook after second-quarter results and the Phoenix franchise acquisition, even as its shares trade at a forward 12-month price-to-earnings multiple of 38.45X. Management lifted its 2026 revenue guidance to $2.10-$2.13 billion from $2.05-$2.08 billion, and now expects systemwide same-shop sales growth of 5% to 6%, up from the prior 4%-6% range. Adjusted EBITDA is projected between $385 million and $390 million, up from the earlier expectation of $370-$380 million, while the Zacks Consensus Estimate for 2026 earnings per share has risen from 93 cents to 97 cents over the past 60 days. The company expects to open at least 185 system shops in 2026, with roughly 90% of the development pipeline tied to its target of 2,029 shops in 2029 already identified, and it projects capital expenditures of $350 million to $370 million in 2026. Offsetting that growth, Dutch Bros anticipates third-quarter systemwide same-shop sales growth of about 4-5%, reflecting lower effective pricing and tougher comparisons, along with roughly 60 basis points of cost-of-goods-sold pressure and about 50 basis points of occupancy pressure for the full year. The stock carries a Zacks Rank #3 (Hold).
Starbucks Plans 600-650 Net New Stores in Fiscal 2026
Starbucks Corporation is maintaining its plan to open approximately 600-650 net new coffeehouses in fiscal 2026, with international markets expected to provide a strong contribution. The company ended the third quarter of fiscal 2026 with 22,933 international coffeehouses after adding 189 net new locations during the quarter, and international company-operated comparable sales rose 5.7%, supported by a mix of transaction and ticket growth, with Japan contributing to the momentum. Following the transition of China to a joint venture, roughly 90% of Starbucks' international portfolio is now managed through licensed structures, and the China joint venture is targeting up to 20,000 coffeehouses over time. North American company-operated unit growth may remain modest through fiscal 2027 as Starbucks strengthens its development pipeline, accelerates coffeehouse uplifts and addresses underperforming locations. The expansion push comes as McDonald's Corporation expects to open about 2,600 gross restaurants in 2026 and now targets 50,000 locations globally in 2028, while Chipotle Mexican Grill plans additional openings in Monterrey and expansion into Mexico City in 2027, and expects to enter South Korea in 2026 and Singapore in early 2027.
Starbucks Wins Two Appellate Rulings, But One NLRB Finding Survives
A federal appeals court declined to enforce most of a National Labor Relations Board ruling that Starbucks illegally threatened employees with reprisals for trying to unionize, Reuters reported on September 4. In a 2-0 decision, the 5th U.S. Circuit Court of Appeals rejected claims that a Wichita, Kansas store manager and assistant manager broke federal labor law when they told employees the store had closed its hiring portal and cut hours because of union activity, with Circuit Judge Stephen Higginson finding the statements were not threats of reprisal. The court did uphold one finding that Starbucks illegally threatened to deny maternity leave benefits to a pregnant employee if workers unionized. The ruling came two days after a separate federal appeals court in Manhattan reversed an NLRB finding that Starbucks illegally barred workers at a Meatpacking District store from wearing multiple pins or T-shirts supporting a union, saying the board failed to balance the company's brand image interests against employee organizing rights. Employees at more than 700 Starbucks stores have voted to unionize and have filed hundreds of complaints with the NLRB against the company.
Starbucks Weighs Majority Stake Sale in Japan Business at About $3 Billion
Starbucks is considering offloading a majority stake in its Japan business in a deal that could value its largest overseas company-operated market at about $3 billion, according to a Reuters report citing two sources. Reuters said the company collected pitches from several financial advisers on options for the business and remains open to selling a majority stake, though the level of stake and any sale have not yet been determined and the valuation Starbucks ultimately seeks remains subject to negotiations. Starbucks' Japan operations cover 1,883 stores and account for nearly 9 percent of the chain's entire global footprint as of September 2025 data. Sources said the Japan business is expected to attract interest from global and local buyout firms, and a formal process could ignite as early as the fourth quarter. Starbucks has held full control of the Japan arm since 2014, when it bought out Sazaby League for roughly $914 million, valuing the operation at $1.5 billion at the time. In an emailed response to Reuters, Starbucks said it is continually assessing the best structure to be the most meaningful to customers and create value for shareholders in Japan.
Caesars and Fertitta Entertainment receive FTC second request on merger
Caesars Entertainment and Fertitta Entertainment each received a request for additional information from the Federal Trade Commission about their transaction. The companies received the second request on Monday, according to an 8-K filing on Thursday, and Caesars and Fertitta Entertainment intend to continue to work cooperatively with the FTC in its review of the merger. Caesars also announced that Jesse Lynn and Ted Papapostolou will exit Caesars' board effective immediately, with Icahn Group waiving its right to name replacement directors. Caesars holders are scheduled to vote on the deal on Tuesday. Shares of Caesars ticked down by 0.08% on Thursday.
The Cheesecake Factory Incorporated shares have climbed 72.4% over the past six months, far outpacing the restaurant industry's 12.4% decline and the S&P 500's 14.2% gain, while still trading at a P/E of 19.86X below the industry average of 20.96X. The rally follows a second quarter in which revenues topped $1 billion for the first time, adjusted diluted EPS rose 24% year over year to $1.44, net income hit a record $68 million, and adjusted EBITDA reached $118 million. Comparable sales at the core Cheesecake Factory brand rose 5.8% on 2.7% traffic growth, restaurant-level margin expanded to 20%, its highest in a decade, and annualized unit volumes exceeded $13.5 million. Flower Child posted a 13% comparable sales gain with annualized unit volumes of $5.3 million, while North Italia comparable sales fell 3% and its restaurant-level margin slipped to 15.6% from 18.2%. Analysts have raised the Zacks Consensus Estimate for 2026 EPS to $4.53 from $4.03 and for 2027 to $5.03 from $4.44, implying growth of 20.2% and 10.9%, with 2026 revenue projected at $4.02 billion and 2027 revenue at $4.29 billion.
Trip.com Beats Estimates as Diamondback Falls on $1.9 Billion Block Trade
Trip.com Group Limited reported second-quarter fiscal 2026 adjusted earnings of $1.07 per share, beating the Zacks Consensus Estimate of 98 cents, sending its shares up 3%. Shares of Diamondback Energy, Inc. fell 8% after largest shareholder SGF Capital executed a $1.9 billion block trade. The Goldman Sachs Group, Inc. shares fell 4% as financial stocks sold off on the Fed's rate hike and indications of additional tightening. Shares of Space Exploration Technologies Corp. gained 5.2% after the company announced plans for its 14th Starship test launch, targeted for Sept. 22.
DoorDash and NHL Announce Multiyear North American Partnership
DoorDash and the National Hockey League announced a multiyear North American partnership naming DoorDash the official on-demand delivery and pick up partner of the NHL in Canada and the United States. The exclusive deal begins immediately and marks DoorDash's first partnership with the NHL. Under the agreement, DoorDash gains a broad set of marketing rights and NHL designations. The season kicks off in Canada with a dedicated DoorDash Puck Drop promotion on September 29, 2026, followed by game night deals every Wednesday and Saturday for the regular season. To reach even more households, DoorDash becomes the presenting sponsor of all Wednesday night regular-season national NHL games and Stanley Cup Playoff games broadcast on Prime Video in Canada.
Booking Holdings is expected to post earnings of $4.49 per share for the current quarter, a year-over-year change of +12.8%, with the Zacks Consensus Estimate up +0.4% over the last 30 days. For the current fiscal year, the consensus earnings estimate of $10.5 points to a change of +15.1% from the prior year, while the next fiscal year's consensus estimate of $12.41 indicates a change of +18.2%. Revenue estimates for the current quarter stand at $9.57 billion, a year-over-year change of +6.3%, with current and next fiscal year estimates of $29.28 billion and $31.94 billion indicating changes of +8.8% and +9.1%, respectively. In the last reported quarter, Booking Holdings posted revenues of $7.35 billion, up +8.1% year over year, and EPS of $2.54 versus $2.22 a year ago, beating the Zacks Consensus Estimate of $7.19 billion by +2.26% on revenue and by +3.67% on EPS. Based on the size of the recent change in the consensus estimate along with three other factors related to earnings estimates, Booking Holdings is rated Zacks Rank #3 (Hold), suggesting it may perform in line with the broader market in the near term.
SHR debuts 1.7-billion-baht bond offering at 4.50% interest
S Hotel & Resort Public Company Limited, or SHR, disclosed through the Stock Exchange of Thailand that on 17 September 2026 the company issued and offered its 1/2026 series bonds, due for redemption in 2029, with a total value of 1.7 billion baht, offered to the general public. The bonds carry a term of 2 years and 9 months, maturing on 17 June 2029, comprising 1,700,000 units with a par value of 1,000 baht each, a fixed interest rate of 4.50% per annum, with interest paid every three months, no early redemption right, and a credit rating of BBB- with a Stable outlook from TRIS Rating Company Limited as of 8 July 2026. Isarin Pattaramai, Chief Financial Officer of SHR, stated that the proceeds will be used to repay debt from a roll-over debenture issuance within October 2026, as well as for asset acquisition, investment, or working capital in activities related to the company's current business operations, within December 2027. The underwriters for this offering are Krungthai Bank, or KTB, Kasikornbank, or KBANK, Krungthai XSpring Securities Company Limited, Land and Houses Securities Public Company Limited, and Asia Plus Securities Company Limited, with KTB acting as both the bond registrar and the bondholders' representative. This bond issuance falls under a total limit of not more than 8 billion baht as approved by the shareholders' meeting, and SHR has currently issued and offered bonds totaling 3 billion baht.
Chipotle Builds Food Safety Platform on Palantir Foundry
Chipotle Mexican Grill is building a food safety risk platform on Palantir Technologies' Foundry software, according to WIRED. The platform appears to analyze health department scores, pest incidents and employee illnesses to assign each store a food safety score, and Chipotle confirmed the work, with chief corporate affairs and food safety officer Laurie Schalow saying the company is piloting a new Food Safety Risk Management Platform designed to provide a more consistent and centralized view of food safety risk across its restaurants. The move follows a turbulent period in which the FDA has identified more than 12,800 illnesses tied to foodborne outbreaks so far this year, and Chipotle stopped serving jalapenos from one supplier in July after a salmonella outbreak that went on to sicken more than 430 people. Palantir already sells into the sector, counting Tyson, General Mills and the independent purchasing co-op for Wendy's among its customers, with corporate work now accounting for nearly half its US business and US commercial revenue up 149% to $764 million last quarter. Chipotle shares were up 0.65% and Palantir 0.73% premarket.
September 17 Earnings and News Roundup: Apple International Raises Ordinary Profit Forecast by 18%
Disclosure filings released after the September 17 market close produced a full slate of positive and negative developments relevant to investment decisions. On the positive side, Apple International raised its ordinary profit forecast for the current fiscal year by 18% and increased its dividend by 5 yen; Choshimaru reversed its current-year ordinary profit outlook to a 21% increase, projecting a record high for the first time in three terms along with a 1 yen dividend hike; Kasumigaseki Capital raised its prior-year ordinary profit forecast by 7%, adding to its record-high projection; and Hobonichi raised its prior-year ordinary profit forecast by 67%. In M&A, Saint Marc Holdings will take over the udon specialty restaurant business Tsurutontan from K Express for 12.8 billion yen, while B-style Holdings will acquire all shares of HR Asocié for 1.21 billion yen, making it a subsidiary. Ferrotec will launch a tender offer for Japan Resistor Manufacturing at 1,901 yen per share, a 49.1% premium to the September 17 closing price, aiming to make it a wholly owned subsidiary, while Nippon Seiki will buy back up to 3.61 million shares, or 6.27% of its outstanding shares, for a maximum of 9.979 billion yen. On the negative side, Chubu Steel Plate reversed its current-year ordinary profit outlook to a 46% decline; PharmaRise Holdings ended the June-August quarter with a 31% drop in ordinary profit; Industrial & Infrastructure Fund Investment Corporation is expected to post a 2% decline in current-year ordinary profit; Advance Residence Investment Corporation a 6% decline; and Ichigo Hotel REIT Investment Corporation an 18% decline.
Saint Marc Holdings to acquire udon restaurant business Tsurutontan for 12.8 billion yen
Saint Marc Holdings announced on the 17th that it will acquire the udon specialty restaurant business Tsurutontan, operated by K Express under the Kato Pleasure Group. The total acquisition price is 12.8 billion yen, with the effective date scheduled for December 1. Saint Marc Holdings will establish a successor company, Tsurutontan (provisional name), and acquire the business through an absorption-type split, inheriting the assets, contracts, and other rights and obligations related to the business from K Express. The target business posted sales of approximately 6.135 billion yen for the fiscal year ending March 2026. The impact on consolidated results for the fiscal year ending March 2027 is currently under review.
SHR closes 1.7 billion baht bond sale at 4.50% interest, fully subscribed
S Hotels & Resorts Public Company Limited, or SHR, a subsidiary of Singha Estate, announced the successful offering of bonds worth a total of 1.7 billion baht, with a maturity of 2 years and 9 months and a fixed interest rate of 4.50% per year. The bonds were offered to the general public between 14 and 16 September 2026 and drew a strong response from investors, allowing the company to close the offering in full as targeted. Chief Executive Officer Michael Marshall said the strong reception reflects confidence in SHR's business fundamentals and growth potential, and thanked its five financial partners: Krungthai Bank, Kasikornbank, Asia Plus Securities, Krungthai XSpring Securities, and Land and Houses Securities. The proceeds will be used to support the repayment of maturing bonds and to fund investment in projects to renovate and upgrade the company's hotel assets. The bonds received a credit rating of BBB-, which is at investment grade, from TRIS Rating.
SHR closes 1.7 billion baht bond sale at 4.50% interest, hitting target
S Hotel and Resort Public Company Limited, or SHR, successfully offered bonds with a total value of 1.7 billion baht, with a term of 2 years and 9 months and a fixed interest rate of 4.50% per year. The offering closed after fully meeting its target, with the bonds sold to the general public between September 14 and 16, 2026. Michael Marshall, Chief Executive Officer of SHR, said the strong response from investors reflects confidence in the company's business fundamentals and growth potential. The proceeds will be used to support repayment of bonds due for redemption and to fund investment in projects to renovate and upgrade hotel assets. The bonds received a credit rating of BBB-, an investment-grade level, from TRIS Rating Company Limited, with five financial partners supporting the offering: Krungthai Bank Public Company Limited, Kasikornbank Public Company Limited, Asia Plus Securities Company Limited, Krungthai XSpring Securities Company Limited, and Land and Houses Securities Public Company Limited.
SHR closes 1.7 billion baht bond sale at 4.50% interest to fund hotel upgrades
S Hotels and Resorts Public Company Limited, or SHR, a subsidiary of Singha Estate, successfully offered and sold bonds worth a total of 1.7 billion baht, with a term of 2 years and 9 months and a fixed interest rate of 4.50% per year. The bonds were offered to the general public between 14 and 16 September 2026, and the offering closed fully subscribed in line with the target. Chief Executive Officer Michael Marshall said the strong response from investors reflects confidence in the company's business fundamentals and growth potential, and thanked its five financial partners: Krungthai Bank, Kasikornbank, Asia Plus Securities, Krungthai XSpring Securities, and Land and Houses Securities. The proceeds will be used to support repayment of maturing bonds and to fund investment in projects to renovate and upgrade hotel assets in order to improve asset quality and competitiveness. The bonds received a credit rating of BBB-, which is at investment grade, from TRIS Rating.
Cracker Barrel Falls 15.5% as Restaurant Traffic Weakens on GLP-1 Shift and Gas Prices
Cracker Barrel Old Country Store has been caught up in a broad pullback in US restaurant operators after industry data showed weaker consumer foot traffic, with the stock down 15.5%. Higher gas prices and changing spending habits weighed on discretionary dining and pressured restaurant revenues, while the growing use of GLP-1 weight-loss medications appears to be changing eating patterns and adding another headwind to already fragile restaurant traffic trends. Against this backdrop, the June 2026 update reaffirming fiscal 2026 revenue guidance of US$3.27 billion to US$3.30 billion stands out, signaling that management still saw its operational changes and pricing work as enough to support the top line despite already choppy traffic. Cracker Barrel's narrative projects $3.5 billion revenue and $42.7 million earnings by 2029, requiring 1.8% yearly revenue growth and about a $16.5 million earnings increase from $26.2 million today, and forecasts a $45.00 fair value, a 4% upside to its current price. Before this traffic shock, the most pessimistic analysts already expected only about 1.6 percent annual revenue growth and earnings near US$34.5 million by 2029.
SHR closes full 1.7-billion-baht bond sale at 4.50% interest
S Hotel & Resort Public Company Limited, or SHR, a subsidiary of Singha Estate, announced that its offering of bonds worth a total of 1.7 billion baht was fully subscribed, meeting its target, after receiving a strong response from investors. The bonds carry a term of 2 years and 9 months and a fixed interest rate of 4.50% per year. They were offered to the general public from 14 to 16 September 2026 and were assigned a credit rating of BBB-, which is at investment grade, by TRIS Rating Company Limited. Michael Marshall, Chief Executive Officer of SHR, said the strong response reflects investor confidence in the company's business fundamentals and growth potential, and thanked its five financial partners: Krung Thai Bank Public Company Limited, Kasikornbank Public Company Limited, Asia Plus Securities Company Limited, Krungthai XSpring Securities Company Limited, and Land and Houses Securities Public Company Limited. The proceeds will be used to support the repayment of maturing bonds and to fund investment in projects to renovate and upgrade hotel assets, in order to raise asset quality and competitiveness, alongside prudent management of the financial structure and liquidity.
Huazhu and Jin Jiang Make Aggressive Push into Long-Term Rental Apartments as Hotel Giants Race for a Second Growth Curve
Domestic hotel giants are making an aggressive push into the long-term rental apartment market. Huazhu will launch a "sojourn" channel on its membership platform to integrate Chengjia Apartment resources and offer weekly and monthly rental products, while Jin Jiang Hotels has unveiled the "Tuling Apartment" and "Lingju Apartment" brands. International brands such as Marriott, Accor, and Hyatt are also accelerating their positioning. Huazhu's sojourn channel covers more than 50 cities and over 100 properties. Taking first-tier cities like Beijing and Shanghai as an example, Chengjia Apartment listings in downtown locations generally range from 3,000 to 6,500 yuan per month, with some units in outlying areas priced as low as 1,100 yuan per month. Data disclosed at Jin Jiang Hotels' launch event shows that Tuling's nationwide bed count has surpassed 4,496, and Lingju's Shekou store in Shenzhen was fully leased upon opening. Chengjia Apartment told Red Star Capital Bureau on September 17 that so far about 88 percent of all sojourn orders have come from members who had previously placed orders on Huazhu's platform, while about 4 percent are newly registered Huazhu users. Li Zhanpu, a senior analyst at TravelDaily, told Red Star Capital Bureau on September 17 that the core driver is mounting growth pressure on the core hotel business, making the long-term rental apartment sector a strategic choice for exploring a second growth curve. However, he also noted that the long-term rental apartment sector itself is already very crowded, and hotel brands entering the market is equivalent to "carving out a piece of meat" from established players. In the next three to five years, hotel-affiliated players may still be unable to become mainstream forces in long-term rental apartments.
Vail Resorts Faces Board Contest as Oasis Capital Nominates Four Directors
Vail Resorts is now in the middle of a boardroom contest after Oasis Capital Management and other shareholders moved to nominate four directors, spotlighting governance and on-the-ground operating challenges. Vail Resorts shares trade at US$138.07 after a 1-day share price return that fell 1.7%, even though the 7-day share price return gained 3.8% and the 90-day share price return is up 6.3%. The stock trades below both analyst targets and one estimate of intrinsic value, with a widely followed fair value estimate of $148.50 against the current $138.07 quote, a roughly 7% discount. The Epic Pass and Epic Day Pass programs are expected to continue growing, with a 7% average price increase for the 2025-2026 season, which should contribute positively to lift ticket revenue and overall EBITDA. Still, the narrative could shift quickly if weaker skier visits and softer early season pass sales continue to put pressure on revenue and earnings guidance.
Kyoritsu Maintenance posts higher operating profit in Q1 but net profit falls 15.5%
Kyoritsu Maintenance's consolidated results for the first quarter of the fiscal year ending March 2027, announced on August 7, showed revenue of 61.142 billion yen, up 7.6% year on year, and operating profit of 4.864 billion yen, up 8.2%. Quarterly net profit, however, fell 15.5% to 3.04 billion yen. Ordinary profit came to 4.81 billion yen, down 3.9%, weighed down by a decline in equity-method investment gains, and net profit was also pressured by the reversal of a one-off tax cost reduction recorded in the prior year following a review of the recoverability of deferred tax assets. Among the five business segments, the hotel business posted both the largest revenue and the largest operating profit: revenue from external customers was 36.924 billion yen, accounting for 60.4% of the total, and operating profit was 3.744 billion yen, also the largest, but this represented an 8.1% decline from a year earlier. The drop was attributed to the opening of Dormy Inn Yokkaichi, the 100th Dormy Inn chain property in Japan, featuring the natural hot spring Hii no Yu, as well as higher costs from large-scale renovation work. The dormitory business, meanwhile, recorded revenue of 15.981 billion yen, or 26.1% of the total, and operating profit of 2.269 billion yen, up 29.6%, outpacing the hotel business in profit growth.
McDonald's Faces High-Stakes Investor Day as Shares Fall 16%
McDonald's heads into a high-stakes Investor Day on September 23 with shares down more than 16% this year, as investors seek evidence management can revive U.S. traffic without sacrificing franchisee economics. Deutsche Bank analyst Lauren Silberman expects the company to provide select 2027 financial targets alongside longer-term goals for 2028 through 2030 and additional details on its McDonald's > NEXT growth and productivity strategy, with the most anticipated focus on McDonald's partnering contribution for the upcoming 10-year U.S. remodel cycle and what that means for incremental capex over the next several years. RBC Capital Markets analyst Logan Reich said investor interest in restaurant stocks remains depressed amid macro pressure on same-store sales and believes McDonald's needs comparable-sales growth to reaccelerate before sentiment meaningfully improves, potentially around the first quarter of 2027. The company's new beverage platform will also be closely watched after launches in the U.S., Canada and Germany reportedly exceeded expectations, with Reich expecting an update on the pace of international expansion, where the majority of global markets could get the platform soon. Morgan Stanley's Brian Harbour cautioned that higher spending and long implementation timelines could limit the event's immediate earnings impact, saying investors will want to see proof points for some of the initiatives and numbers start to move higher again.
Morgan Stanley Backs Booking Over Expedia as AI Reshapes Online Travel
Morgan Stanley named Booking Holdings its top pick among online travel agents, arguing that artificial intelligence will reward scale and fragmented inventory while leaving Expedia and Airbnb with narrower paths to upside. Analyst Matthew Cost rates Booking Overweight with a $230 price target, implying 34% upside from Tuesday's close, citing its portfolio of 4.7M unique properties, global scale, and a single-platform agentic call option. Expedia earns an Underweight rating, as Cost sees a similar travel-specific AI agent opportunity but doubts the company can execute as quickly given weaker consumer engagement and an inconsistent track record, and he also flags Expedia's narrow P/E discount to Booking as a reason the spread should be wider. Airbnb was upgraded to Equal-weight from Underweight on the strength of its 90% direct traffic mix and platform improvements that make double-digit room nights growth more credible, though Cost says that growth is already priced in and material upside would require a further step-up in growth or margins. The rating changes moved all three stocks Wednesday, with Booking and Airbnb trading higher while Expedia slipped after a four-session winning streak.