Diamonds and Dogs
Boycotts not hurting Wendy's (WEN). The fast food restaurateur is up 4% to a new 52 week high following better than expected earnings. The burger chain was helped by higher royalty fees from franchisees and its new premium burgers that come with avocado and bacon. Boycotting Wendy's has grown, supported by many celebrities, as Wendy's is one of the last chains not to sign on to the Fair Food Program to provide farmworkers better working conditions, better pay and other benefits.
Lyft (LYFT) not getting a lift. The on-demand ridesharing company is down 6% not far from a 52 week low following earnings. Lyft report earnings, or a lack there off, losing over $2 billion, as sales rose 95% to $776 million. Lyft raised sales guidance for the current quarter and full year. Lyft also said the losses would peak in 2019, but the company is still a long way from profitability. Larger rival Uber (UBER) is expected to IPO Friday.
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