Analog Devices, Wendy's, Wingstop: Trending Tickers

In this article:

Analog Devices (ADI) misses guidance expectations while topping fiscal first-quarter earnings expectations.

JPMorgan analysts downgrade fast-food chain Wendy's (WEN) to Neutral from Overweight, cutting the stock's price target to $19 per share.

Lastly, Wingstop (WING) shares dip Wednesday morning after beating fourth-quarter earnings estimates, issuing guidance in-line with expectations.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Luke Carberry Mogan.

Video Transcript

BRAD SMITH: Stocks are moving to the downside this morning as investors, they look to the Fed's January meeting minutes. Those are out of 2:00 PM Eastern time today. They're going to determine the timing of the central bank's rate cuts perhaps in some of that tone and tenor that actually took place in the meeting. Investors are also going to be watching later on today for NVIDIA's highly anticipated earnings. That's coming after the bell.

SEANA SMITH: All right. Let's take a look at some of those individual movers on Yahoo Finance. Shares of chip maker Analog Devices up slightly after beating earnings expectations on both the top and bottom lines in its fiscal first quarter. Now, the company did see revenue and gross margins fall amid some weaker sales, and it did provide a disappointing outlook for its second quarter. Despite all that, you're still looking at gains of about a half of a percent.

BRAD SMITH: We're also watching Wendy's this morning. Shares are pretty flat after the fast-food chain was downgraded at JP Morgan from overweight to neutral. JP Morgan analysts also reducing its price target on Wendy's from $22 to $19. JP Morgan believes that shares will likely remain, quote, "range-bound" in the near term.

SEANA SMITH: Shares of Wingstop slipping after issuing an outlook that is just in line with expectations, not enough to impress the Street. The chicken wing chain saying that it did see solid sales growth in the fourth quarter, especially in its digital sales. And now the CEO calling 2023 its strongest year on record. They were able to do that despite the fact that so many consumers have been pulling back on their spending only or really more so favoring some of those consumer staple plays, the necessities that they did need. But some of these restaurant chains, Wingstop, I guess, among them just in terms of the demand that they have seen over the last couple of quarters, able to navigate what has been certainly a challenging time here for the industry.

BRAD SMITH: Yeah. Over the 52-week period, it was interesting. System-wide sales actually up by about 27%, 255 net new openings during the fiscal year as well. And then you saw the restaurant count increase system-wide by about 13% to 2,200 worldwide locations, just a little bit over that. The company is still going to have to try and make itself off of that viral do not take on a first date list. And it's doing its best to do that. I've been tracking their social media efforts there. So keep trying, and we'll see if that actually comes to fruition here. Digital sales though, that increased actually for the quarter by about 67%-- 267% of system-wide sales. So digital doing well for the company right now.