Subway’s New Menu
By Wed, Jul 14, 2021
Hey Scoopers,
After the Labor Department’s consumer price index report showed faster-than-expected growing inflation, the markets erased all earlier gains. — More on that in the “Overall Market” section.
Beyond the overall market, a freelance work platform’s investors are confident that its earnings report will show a better-than-expected result against analysts’ predictions. Meanwhile, a space travel pioneer company keeps seeing its stock price drop despite a successful test flight. — More on that in the “What’s Up?” and “What’s Down?” sections.
By the way, Subway has a new healthy menu to win customers back. — More on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:
- U.S. markets: The stock market ended in the red zone on Tuesday. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin‘s price dropped to $32K per coin.
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Inflation Is Here
The stock market ended the day in the red zone on Tuesday.
Although the markets reached another intraday record high, they turned lower as inflation data came out. The Labor Department’s consumer price index report showed worse-than-expected growing inflation. In the past 12 months, US consumer prices jumped by 5.4%. The markets expected inflation to be as low as 4.9%. The higher-than-expected month-to-month jump was the fastest increase since 2008. No wonder why investors turned pessimistic today.
High Investor Expectations
So, what happened?
Shares of Upwork (Ticker: UPWK) were up by more than 6% on Tuesday. Although the freelance work company’s earnings report is due on July 29, investors anticipate better-than-expected results. Each of Upwork’s past three quarterly reports showed the company improving over previous-year results. Moreover, investors believe Upwork would display a positive GAAP net profit against analysts’ estimates of a $0.09 loss per share.
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Buy Rumours, Sell News
So what happened?
Shares of Virgin Galactic (Ticker: SPCE) were down by more than 7% on Tuesday. Although the space travel pioneer’s launch of its founder Richard Branson was successful, it seems that the catalyst for the stock price run-up happened before the liftoff. Since fixing issues that delayed multiple test flights, Virgin’s stock has skyrocketed. However, the company will need more than a few flights to maintain its stock price on sky level. Otherwise, it’s going to follow a somewhat predictable pattern of a spike on good news and a sharp drop right after.
Subway’s New Menu
So what happened?
After losing customers to other fast-casual competitor restaurants like Chipotle (Ticker: CGM), Subway launched an “Eat Fresh Refresh” campaign. Its main goal is to bring back customers that ditched Subway for other options. Although pioneering healthy meals in the fast-food segment with a customizable menu, sales have been decreasing year after year as the restaurant lacked innovation.
However, Subway’s new campaign would bring more than twenty new ingredients to customers, along with more than 1 million free sandwiches across the country through promotions. Moreover, the healthy meals restaurant would feature an online ordering system with in-app ordering and nationwide Doordash (Ticker: DASH) delivery.
It seems that competition is forcing Subway to rethink its menu.
If you have any questions, or suggestions let us know by emailing us at members@tradestocks.com. We look forward to hearing from you.
About the Author
Felipe Nebesnyj is an Economics student who is passionate about the stock market and investing in the market. Originally from Brazil, he is working and studying in the U.S. and started learning about and researching the stock market at 16. Before joining Stock Card, Felipe worked on multiple stock market research projects that gave him the necessary knowledge and confidence to put into his stock market analyst career at Stock Card. Last but not least, he is an excellent violinist and enjoys video games.
