Hot Stocks
20:06 EDT Fly Intel: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. The Pollo Tropical restaurant chain is nearing a deal to be bought by an investment firm for $225M, The Wall Street Journal's Lauren Thomas reports. Authentic Restaurant Brands, part of New York-based Garnett Station Partners, plans to add the fast-casual restaurant operator to a portfolio that already includes sandwich chain Primanti Bros., according to people familiar with the matter. The deal for Pollo Tropical parent Fiesta Restaurant Group (FRGI) is worth $8.50 per share, the author notes. The deal is expected to be made official by Monday. 2. Berkshire Hathaway (BRK.A) reports Q2 operating earnings of $10.04B vs. $9.42B last year. Q2 Insurance Underwriting operating earnings were up to $1.25B vs. $715M last year and Insurance-Investment income operating earnings rose to $2.37B from $1.91B last year, while Berkshire's BNSF Railway Operating earnings were down at $1.26B vs. $1.66B last year. 3. Nike (NKE) stock has fallen 8.2% in 2023, putting it in the bottom quintile of all S&P 500 stocks this year, Jacob Sonenshine writes in this week's edition of Barron's. But like a runner who leaves enough for a big kick at the finish, Nike stock might be ready for a big push higher. Most of its problems are fading, while the focus has returned to innovation, the author notes. As markdowns in the U.S. slow and China begins to recover, Nike's rate of sales growth should start to accelerate and margins should improve. Investors would be wise to buy now in anticipation of that happening-or risk missing the move, the publication adds. 4. Warner Bros. (WBD) "Barbie" stays atop the North American box office, grossing another $53M for a $459.4M in North America and as it crosses the $1B mark globally. The Barbenheimer parade brought many moviegoers to the theaters again. Combined domestic revenue for all films came in at around $180M, up 90 percent from the same period last year and 19 percent up over 2019. 5. Eli Lilly (LLY) saw positive mention in this week's edition of Barron's.
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